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Why waste your online advertising dollars on outmoded branding strategies
1. Why Waste Your Online Advertising
Dollars on Outmoded Branding
Strategies?
Understanding the new rules of branding will help you allocate resources
accordingly.
Over the years traditional marketing has changed from “consider” and “buy”
consumer behavior to heavily interacting with the brand well beyond the
purchase through social media. Today, consumers will evaluate many options
and remain engaged with the product by participating in online review sites and
other social networks that ultimately influence the buying decision of other
consumers. According to the latest research by McKinsey Global Digital
Marketing Strategy, “paid media push marketing used to drive consumers along
the imaginary funnel, culminating in then retail promotions to open their wallets at
purchase”. This simply indicates that many brands are spending their marketing
budgets in all the wrong places, based on an outmoded “funnel” marketing
model. This form of marketing model believes that consumers use the process
of elimination to narrow down a wide consideration of brands to a few and then to
a final choice. They neglected the importance of social branding and the
relationship the consumer will ultimately build with the brand through media
channels that are beyond manufacturer and retailers control. If done correctly,
marketers can use social branding to influence the consumer into making that
final purchasing decision and as a result spend their advertising dollars wisely.
Smart marketing strategist will conduct shopper research through social media
and use multiple influential points in the purchasing process to reach their goals.
Consumer top 5 influential points:
1. Consider: Consumers start with a set consideration of items. At this point,
social branding can have a big influence on the considerations.
2. Evaluate: They will seek input from online reviews, friends and
competitors.
3. Purchase: Evaluation will continue until the purchase. Also other
important influencers like packaging and shipping will be considered till the
final purchase.
4. Enjoyment: consumers that enjoy the product will share the experience
with others.
5. Advocate: enjoyment will create a consumer advocate that will influence
further purchases and can share their experience in the social arena.
Through social branding, and consideration of the 5 influential points, a post
purchase relationship will continue and can be molded into attracting more
consumers. Smart marketers can study consumer behavior and use the insights
2. to create a strategy to spend their online advertising dollars wisely. This can be
done by recruiting experienced social branding experts that can help ease this
process for busy companies. Remember, if done correctly, these social media
experts will have to research your consumer online behavior for your product, for
instance: what they do, what they see and what they say. Combine these
behaviors with the top 5 influential points in purchasing and you will have a well-
planned strategy to reach your marketing goals.