https://theprpost.com/post/8877/

Digital storytelling: The key to building brands

In a world with options aplenty, strategic corporate communications and reputation management have emerged as the linchpin for businesses seeking to build trust and long-term brand equity. Communications and public relations act as an effective tool to build a positive narrative for the brand, shape favourable consumer perception and build brand loyalty among the existing consumers. A robust reputation strategy helps companies to successfully navigate and carve a niche positioning for the brand, setting them apart from rivals. It also plays an important role in case of a crisis,to mitigate risk and negative impact of an untoward incident. Keeping all this in mind, brands across sectors have emphasized designing and implementing robust corporate communication strategy, one that encompasses various channels including digital platforms and is a healthy mix of paid, earned and owned media.The rise of digital mediaThe world was very different a decade and a half ago, with little or no existence of social media. The conversations on a brand were limited to offline or news portals and could not go viral on digital platforms within seconds. In the last few years, brands have closely observed the constant rise of digital platforms and tools which have gained immense popularity and attracted a major chunk of our population. Today, social media and digital channels are the key pillars for brands for driving awareness and building brand equity. Digital channels have revolutionized the communication landscape and compelled brands to integrate digital strategies into their communication plans. Most noticeably, they have ushered in an era marked by unprecedented transparency and accountability. As a result, brands have placed increased emphasis on these factors and devised unique plans to harness the true potential of digital platforms.However, in this post pandemic world, which is characterized as highly volatile, uncertain, complex, and ambiguous (VUCA) in nature, the landscape of corporate communications and reputation management is undergoing a dynamic transformation, and brands recognize the necessity ofadopting innovative and more focused approach to execute communication plans. Digital has become a ‘must have’ part of the communication strategy of brands.Criticality of adopting consumer-centric approachBrands must understand the fact that one-size-fits-all strategies are no longer efficacious. They must focus on adopting personalized communication strategies that can cater to the specific preferences and needs of all the stakeholders. For instance, the preferences of digital and print media audiences may vary, and we cannot  publish similar content for both categories. Creating unique messages that ensure maximum engagement of the target audience is important. Straight-jacketed approach is very yesterday and what will work for brands today is a personalized, humane approach to communications and brand reputation building. So how can this be done?The answer lies in leveraging the power of data that can offer valuable insights about the consumers’ behaviour, interests and purchasing patterns. This knowledge will empower us to craft personalized communication strategies and content that resonates on a personal level. From sending customized mails, recommending products to crafting social media messages, embracing personalized strategy will result in increased engagement and conversion while boosting consumer satisfaction and solidifying brand perception. The art of storytellingIn the era of information overload where consumers have low attention span, brands need to focus a lot more on storytelling to bring out interesting anecdotes that will appeal to the audience. There are numerous benefits of storytelling, in comparison to the dry and factual approach. With impactful stories, brands can reiterate their brand purpose and connect better with their audience. Also, it is important for a brand’s story to be consistent in tone, voice and overall messaging. This helps having a focused narrative and in turn, connect better with the customers.Gone are the days when actors used to enact a story or when showcasing a flowery and perfect world was important. Customers prefer real and authentic storytelling. Stories that are real are most believable and make the maximum impact.With customer attention span reducing with every passing day, it is recommended to explore various forms of content to showcase stories- from short videos to audio stories that can be heard on-the-go and shared easily. Also, building a content series with one new content piece, released every few weeks, can help drive higher engagement.Keeping digital communication at the centre of planningUndoubtedly, this is the digital age, and growth depends on how brands utilize digital platforms. Thankfully, India is among those countries which have adopted digital platforms and tools swiftly. The increasing preference of individuals, especially millennials and the GenZ, towards digital channels is evident, making digital communication strategies vital for the success of corporate communication efforts. These platforms today play a crucial role in shaping decisions of a majority of consumers.At the outset of 2023, India boasted an impressive digital landscape with a staggering 692 million internet users and 467 million active social media users.[i] For brands, this vast user base presents a golden opportunity to forge meaningful connections, assess the efficacy of their initiatives, and garner valuable insights for informed decision-making. With a strategic communication approach, brands can not only engage with these users effectively, but also nurture long-term relationships, paving the way for increased sales and revenue. Today, social media strategy is at the centre of the communication strategy of brands. Brands are leveraging various social media channels, putting together a robust communications and content roadmap specific for each channel, and leveraging owned media to create awareness and brand recall. Brands’ website has also emerged as important mediums for communicating with a diverse set of stakeholders. Additionally, senior leaders are also investing in leveraging their own social media channels to further amplify the brand narrative.Crisis management In addition to this these advantages, digital tools also present challenges that make digital strategies critical. For instance, the very freedom of expression that these platforms facilitate has rendered brand reputation exceptionally vulnerable. The absence of stringent regulations and mechanisms to authenticate platform users further compounds the concerns for brands. The potential for misinformation and the rapid spread of negative sentiment pose significant threats to a company's image.Digital media is a double-edged sword. On one side, it enables the brands to reach out to all their potential and existing customers across the world with a single post, on the other hand it can also have one post leading to a full-blown crisis. Also, with the rise of AI and other new-age technologies, fake news, misinformation and disinformation have become very common. Hence, it becomes important for brands to be adept in crisis management, so as to safeguard brand reputation. Companies build a good reputation in the market after long and dedicated efforts, however, a crisis can ruin it within a few minutes. To effectively address such situations, swift and strategic crisis messaging, infused with empathy, is essential. Brands that showcase agility in their response to unforeseen circumstances can mitigate potential damage and emerge stronger from crises. This requires a well-defined crisis communication plan with clearly carved out scenarios and suggested actions.Also, brands need to stay vigilant and create meticulous and effective corporate communication strategies to counter these challenges with positive storylines as well as capitalize on the huge potential of digital platforms. The most critical aspect of effective corporate communication is actively listening to stakeholders’ concerns. Brands often make a mistake by overlooking this part and concentrating only on their next big launch. In today’s fast paced world, there is a stringent need to pay attention to concerns, address them thoughtfully, and engage in a transparent dialogue. This effectively enhances the company's reputation and establishes a foundation for enduring relationships, positioning the organization as a trustworthy and reliable partner in the eyes of the stakeholders.Conclusion As we navigate through the challenges of the modern business realm, it becomes evident that strategic corporate communications with a focus on digital communication and impactful storytelling is not just a valuable asset but an indispensable driver of brand success. Beyond being a conduit for disseminating information, it acts as a catalyst for shaping perceptions, fostering connections, and fortifying the brand's position in the market. As we move forward, the ability to craft and execute communication strategies that align with the ever-changing dynamics externally will be pivotal for sustained success and resilience in the face of uncertainty.