The traditional legacy companies have always believed in the mantra of positioning their brands in the consumers’ minds. Digitally forward-thinking startups have gone one level ahead by positioning their brands in the consumers’ ‘lives’. Marketing research was jointly conducted by brand design agency Siegel+Gale along with Shift Thinking and SAP to understand the digital transformation effected by such successful digital-native brands. These companies are behaving as end-users themselves rather than as consumers. As a result, their focus has been on after-purchase brand loyalty rather than sales and pre-promotion as practiced by the legacy firms. They have an almost fanatical approach towards ensuring the ultimate experience, rather than merely on the revenue. This does not mean that the legacy firms have lost their relevance, rather these are the brands that people look up to. But, the newer brands were credited with making users’ lives easier. Another point of difference is that the older firms were more heard of on traditional media such as TV, but the newer ones are more active on social media, which is their main outlet for digital marketing.

Source:https://www.entrepreneur.com/article/318683

Uploaded Date:16 October 2018