Are Brands Drowning In The Digital World?
Here are some tips on how your brand can stay afloat:
We increasingly live in a world where our media caters to all of our needs and wants. At the center of this media world is entertainment. Continuous gratification has led to endless content libraries — video, music, photos, books, websites — exist on an ever-present, always-connected, infinitely large cloud that enables instant access to these libraries. So now the question stands as to how can brands thrive in such a flooded market?
The Harvard Business Review provides further insight into how brands can build a digital presence that lasts. William Collis and David J. Collis explain the correlation between adaptability and durability and how adaptable brands are durable brands. Followed by how a brand can create durability through the application of the MACE framework.
The MACE framework includes a brand developing a sense of:
- Mastery is giving your consumers non-transferrable rewards for using your products and engaging with your content.
- Accessibility is making your brand easily available to as many consumers as possible.
- Cadence is the ability to constantly create news and content around your brand.
- Ensnarement is making your brand as sticky as possible by building in switching costs and creating network effects through systemization and spawning.
Complimentary elements of the MACE framework include a brand developing a digital model. Creating a digital model will aid in providing brands with the ability to reimagine the customer journey, personalize the customer experience, and seamlessly incorporate multi-channel experiences. To learn more about transforming your brand digitally click here!
Note: This article is a class assignment for BUS 465 — Integrated Brand Promotion and Advertising at NCSU Poole College of Management.
