The term BrandTech is literal from what it means. It is the combination of Branding and technologies. Technology helps make the establishment of a brand from scratch much easier in terms of the time and effort needed for it. To understand BrandTech’s relevance in the coming years, we have to first understand the growth of technologies over previous years.
The Growth of Technology
Can you imagine a world without technologies? Life will be absolutely inefficient. Imagine yourself buying a brand product you are unsure of. You would have to take a lot of effort and time into searching that piece of information, by probably going to that physical store to enquire about it.
However, times have changed, where information is accessed with just a simple search on the internet. Websites, e-commerce stores and mobile apps are the main platforms, where information is easily accessed about a brand. Technology has grown a lot over the decade and will continue to grow in the future through other advanced technologies such as AI, blockchain, and Enterprise Resource Planning (“ERP”).
The growth of technologies will be advantageous to branding because more channels can be used to market your brand, which increases exposure. It’ll be more effective to reach your target audience within a short period of time.
Big Brands’ Usage of BrandTech
Some brands that are making use of BrandTech are Amazon, Starbucks and Samsung. These companies have come a long way using technologies as they grow.
Amazon has made use of blockchain technology to develop its apps. Starbucks has used ERP for their financial management, supply chain management, project management, and accounting. Samsung has used gamification to create its own loyalty program, where consumers are entered into sweepstakes to win products.
These companies are definitely making use of BrandTech, to establish their brand further by marketing more effectively, increasing their target reach. Apart from that, they are also building on customer interactions and relationships, improving their brand perception.
Drawbacks of BrandTech
Technologies can be very advantageous for branding and marketing, however, it can’t always be dependent on. There is always a chance for it to go wrong, for example, daily maintenance or technical issues, or just using it incorrectly for your brand. This might disrupt your business operations, affecting your brand. Another common challenge especially for newer brands to get into technologies in the first place would be the limited manpower and time.