Brand Development and Digital Agencies
Digitial innovation companies are a fairly new asset to the entrepreneurial world. These digital agencies are able to help businesses learn how to market their websites, products and services. Having a site that stands out can be the difference between a potential customer picking you or the competing company. Even 69% of marketers say that unique and dynamic content and web services design is important to a business’s website.
The new connected items that are being created with the help of innovation consulting by dgital agencies are refereed to as “things”. These things are often combinations of preexisting inventions put together by an “Internet of Things” designer and connected to the web for internet usage. It has been estimated that by 2019, 5 billion people will be connected to the Internet as well as 50 billion new things resulting from modern innovation.
What is Brand Development?
The digital agencies working with businesses on their brand development are helping these companies to create some of these new connected “things” by using innovative strategy that results in potential new product ideas that are added to the “Internet of Things”. Currently, it is assumed that 60% of the potential for new “Internet of Things” connections lies in objects that already exist, and 40% of the potential lies in the developmental processes conducted by digital agencies.
At the moment it is estimated that only 0.06% of objects that could be connected to the internet actually are. So far, 94% of the product design companies and digital agencies that are participating in the Internet of Things movement have seen a return on their investments, making the innovative design highly successful for businesses and companies involved. Innovation consulting firms have confirmed that creating the “Internet of Things” by connecting every day objects could be worth $3.9 trillion in the near future, and $11.1 trillion by 2025. Things that could be connected to ultimately have these financial results are factory machines, vehicles and buildings.
A user’s experience with your brand or product can build a foundation for your company. If a customer comes to recognize and appreciate your product, you’ll build a base for great financial profit. Brand loyalty has a variety of important drivers. The two most important drivers for millennials are having a great product, at a 77% loyalty rating, and brand recognition and trust, at a 69% loyalty rating. Loyalty building is very vital for businesses and can make a huge difference. In fact, the average profit per customer would be expected to raise to between 25% and 100% with only 5% more of customers having a loyalty to that brand. This increases a business’s success even more when one considers the fact that a repeat customer spends 67% more than a new one. This means that loyal customers can carry the success of your business, making it important to please them.