Failing Brands Re-invent the Success in Digital Age- How?

• Successful brands like Diesel involve innovative approaches and adoption to digital landscape.
• Retail brands drives growth and profitability by adopting the latest techniques and understanding market shifts.

Now a famous brand Dielsel was once in a failing category in 2018. But, it has made a huge comeback by adopting some digital techniques which are never going to fail. Read on to adopt these amazing ways which nowadays is a big headline for “some success ways adopted by brands in the digital age.”

Surprising 4 Successful Ways To Maximize Brands Success

Latest news revelas that by understanding the latest trends and by making the latest changes will help you survive in the market. Otherwise, it will be difficult to maintain your identity in this age of the digital market which is full of competition.

Some failing legacy have made a successful comeback in this digital era. “Diesel- a famous luxury denim brand”,  once filed for bankruptcy in 2019. During pandemic Diesel experimented with digital ventures and launched a digitalvirtual shopping hub “Hyperoom” and thus it transformed its image to successful tech savvy brand.

Solidifying your presence in the virtual world helps to build and re-invent the success in this digital age.The more you enhance on digital markets the more you get discovered. The next step is to reward a customer this will boost the retention level resulting good purchases and loyal customer in return.

Latest updates reveal that Korea’s Lotte Duty Free retailer begin a new initiative that encourages the user to participate in monthly challenges and to engage with the brands and also win the reward that can be exchanged for points on its online programs.

These type of loyalty programs also result in better relationships with the customers which is very important for any type of business.

Research shows that gamification tactics result in increased content discovery and activity feed engagement by 68%. In simpler world the participation will enhance the reach of brand to new customers.

According to updates the famous brands like Alpine and McLaren formed a partnership with Stradall to increase its brand engagement with viewers. Stradell engage the customers by loyalty programs and rewards.

In Stradell the players connect with each other by playing motorcycle vehicles, forming teams, and compete with other teams and thus increase the reward earnings by winning. It also attribute an open market where players can trade their assets or use a royalty system to passively earn from the game, developing  a sense of investment and engagement among players.

Tech enthusiast says reaping loyalty and retention, NFT based memberships will attract more crowds. Shiseido the famous Japanese beauty brand has also launched NFT tokens which has $1,197 costs of beautycare products for a year, event tickets and other rewards too. Offering this type of tokens is done to enhance the loyalty of customers and develops a bond with customers and the brand.

Another big revelation is psychological attachment with products that are intangible or untouched. Studies highlight that there is likable attachment with the things you can’t touch. The retailers can play with this emotion keeping in mind, as it is having no harm and will boost the business by putting products in front of eyes digitally or virtually. 

Also, it adds the feeling of possession which will benefit the company in a run. Customer’s will definitely purchase the product as they have their feeling of possession linked with it.

This keeps the customer engaged , drives retention, and thus drives sustainability of further business. Such innovative steps should be applied by retailers to reinvent their business in digital age.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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