The revolution of smart phones and internet savvy consumers has freed us from the shackles of brick and mortar. The liberalization of the economy, the epoch of technology and the information age has put the consumers on a pedestal.
Today, the consumers have many choices for their daily needs. Everything is available at their beck and call. The aggressive proliferation of online giants like Amazon, Zivame, Big basket, Urban ladder, Cleartrip, etc. has turned the face of retail in India. Consumer’s fantasies have come true. They are wooed by, once a desire and now a reality, irresistible deals & discounts on their purchases. Anyone who can service the consumer up to his satisfaction wins the roulette.
This phenomenon has inspired other businesses to take a dip into the ocean. In my view, the furor of ecommerce growth gives rise to two important questions- whether a business should go online or offline or both and how to plan your advertising strategy based on that.
I think, to answer any of the above, a clear understanding of “what business are you in?” is very crucial. Flipkart, Zivame, Pepperfry etc are all beginning to launch offline stores to build customer experience. On the contrary, Myntra claims to be a “pure technology player working towards building a virtual experience zone.” Both the sides are playing based on what they think is essential for their consumers.
Having said that, the branding and advertising strategy is based on the business you are in. The advertising spends will be relatively higher for those choosing to operate in the online space to gain more visibility and attract customers attention. The ones that will opt for offline stores, which itself acts as a branding tool, will decide wisely on their advertising budgets.
Brand co-creation becomes an important element in taking these decisions. A deep understanding of your target audience, by co-creating the brand with your consumers and understanding their grumbles, desires and key emotional drivers can lead to creating a “valued” brand. Brand launch services and branding consultancy offered by experts from the field of advertising addresses these very questions at the core level.
For those who are in the serious business of brand building, know what it takes to launch a brand or rebuild an old one.
Written by Sameer Desai,Chief Strategy Officer,Brand Launch Centre