brand building content

Brand building is seeing a resurgence in a digital age where marketers are struggling between justifying ROI on digital while continuing to learn/ optimize using the limited marketing budgets in an extensively competitive environment.
 
Two events significantly influence the resurgence of brand building:
1. Viewability and
2. Ad Blocking
 
1. Viewability
Marc Pritchard (CMO – P&G) at Dmexco 2017 noted that average view times for digital ads is 1.7 seconds while only 20% of digital ads are viewed beyond 2 seconds. Viewability is amongst the Top 2 concerns of digital media planners in the US.
 
2. Ad Blocking
Ad Blocking user penetration in the US is set to double in 4 years (15.7% in 2014 to 30.1% in 2018). The number for Millenials (age 25-34) is even higher at 40%.
 
How can marketers create a long term strategy to respond to the marketplace challenges ?  

Build relevance. A brand that embodies values that resonate with its targetted consumers, a brand that builds interest Vs interrupts and is sensitive to build utility around every engagement with its consumers.
 
Its interesting to see a successful company like AirBnB ($58 billion in market capitalisation) make an effort to build its brand. Nancy King (AirBnB) and Neil Barrie (TBWA/ Chiat/ Day) in an interview with FastCompany reviews the companys decision to actively build a brand. For a mega successful company in Silicon Valley to acknowledge that it needs to build its brand over the long term in a disciplined manner is in itself a remarkable break-through. Additionally, the logic for investing in brand building is sound and in many ways is applicable across categories for any brand. The need for marketers to build a brand continues to be a priority, inextricably linked with every digital investment journey they are making.
 
To paraphrase their step-by-step method (which I find applicable for every brand) :

1. Need to Scale : Appeal to a broader target audience, beyond Millenials
2. Ignite Behavior Change: Help people who are unused to AirBnB adopt new behaviors for their travel stay needs
3. Build Emotional Relevance : Build trust by connecting on shared values (amongst non-Millennials)
4. Invite Preference : Help people choose AirBnB Vs Expedia  

 
Brands are beginning to realise that the problems they face in combatting the challenges in digital marketing (Transparency, Attribution, Ad Blocking etc) are not going to go away soon. And that building their brand, being consumer centric is only Step 1 of winning in the long term.