Mihm to Blumenthal: The famous Jeff Bezos quote comes to mind: “Your brand is what other people say about you when you’re not in the room.” Increasingly, the room is not a physical place but a virtual one—and it’s not a place you own. Reviews really bring the need to run a decent business at your core into stark relief.
Andrew Witkin: When viewed as a way to raise brand awareness and impressions, a clicks-to-bricks move can still net an overall gain—if the traffic from the retail space driven to the website costs less than what it would to purchase those impressions through online advertising. The end goal of an omnichannel strategy is not only to engage customers with an experience that isn’t available online but also to use this unique experience and brand awareness to boost online sales.
A strong brand strategy is the foundation of a winning launch, even though developing the strategy can increase the time it takes to get a new product to market. Here are eight brand development strategies for hyperlocal vendors, from founders and executives who’ve been in the trenches themselves.
This month’s Brand Battle, in conjunction with Brandify, compares the local-social engagement strategies of two of the U.S.’ largest banks: Bank of America and Chase. The contest was close on several counts, but Chase emerged as the winner, with social engagement the determining factor in this matchup.
In a new book, “Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information.” Stanford professor Itamar Simonson and co-author Emanuel Rosen take a look at the impact that access to perfect information has on the way consumers make purchase decisions. The big finding is that more and more, the value of brand, and the type of awareness marketing aimed at keeping the brand top of mind, is quickly eroding…