Let us understand what a “brand” truly means by considering this example . Consider two different Business Schools offering the same degree with the same accreditation . However , we will assume one to be of a great repute while the other hardly having any name . In this case what would an MBA aspirant choose , considering he meets the eligibilty criteria for both . The answer is obvious isn’t it ?. The reason why I chose a B school example is because, who else can understand marketing better than B schools . Marketing is the core pillar of any business and there are different aspects associated with it . When we talk of marketing , it is important to understand the three most important terms which are often used in markets .
Brand Awareness in a lay man’s words refers to the extent to which a consumer/customer is aware of a product or service . For instance, we all know what Google or Apple is all about . Brand equity refers to the capital worth of a brand . In simple words , it is the market standing of a company . It is all about the commercial value that one can derive based on customer’s perception of the brand . For example , many companies would prefer placing ads on Google over other search engines.
Brand visibility is all that one needs to do to achieve brand awareness and an enviable brand equity . It refers to the web presence of a brand . For example , social media presence of a company say on Facebook or Twitter.
Importance of Brand Visibility The digital age has changed the way marketing strategies work . Today , it is no longer about just a traditional marketing set up with a shop , a salesman and a product leaflet . Be it a B2B company or a B2C company , brand visibility is the way to stay and sustain for long .
It is of paramount importance especially for start ups . To understand why , let us first understand the concept of a “start up ” . Anything new , not tried and tested comes with a risk . Typically start ups are small , have limited resources to spend and most importantly it is about turnaround of your investment (funded/seeded included). Anything new needs aggressive marketing but at the same time there is a limitation on the amount that one can spend on manpower . In particular India is seeing a plethora of start ups matching the sentiment of “Make in India” . This is where a strong presence on web helps . Let us take a look at the statistics below to substantiate the power of being “present” , be it TVC or digital platforms .
About 50% of people follow 1-4 brands on social media , 26% follow 5 to 9 brands, 22% follow 10 or more brands and 3% follow no brands .
72% of marketers think branded content is more effective than advertising in a magazine or TVC while about 69% say it is superior to both direct mail and public relations.
The average revenue increase attributed to a strong brand presence is 23% Most of the entrepreneurs of start ups in a highly competitive Indian market need to increase their reach ; greater the lead pipeline , higher the probability of at least a few conversions . As every other person is on social platforms , social visibility is the easiest and the most economical way to increase reach and traffic thereby building brand awareness and brand equity and the cycle can continue . Let us also not forget that we are a growing economy with more than 60% of youth population . That makes for a compelling reason to reach out to the audience who are readily awaiting for something new. Choosing the right platform is extremely crucial to building a brand .The different platforms today range from a TVC, content marketing , Linked In, Facebook , Twitter, Instagram, Youtube etc . With each of these mediums , there are different other ways to reach a specific audience . For instance a FaceBook Page, wall posts or a messenger ad within Facebook . Hence , brand visibility is a continuously evolving activity with tremendous power to cause “disruption” in the market ; help start-ups thrive , is the image consultant for big companies to sustain and maintain a competitive edge and for consumers it is ” see what you believe” factor.