In the world of consumer health, the competition is as fierce as the latest spin class at 6 am – sweaty, intense, and not for the faint hearted. So, how do you ensure your brand isn’t just surviving but thriving in this fast-paced digital era? Let’s dive in.
If you’re in marketing, brand management, or digital strategy at a consumer health company, you’ve probably asked yourself: can we build our brand solely online? It’s a valid question, especially when you consider the seismic shifts in media consumption habits. With everyone glued to their smartphones, endlessly scrolling and swiping, the online space seems like the obvious battleground for brand supremacy.
To give you some perspective, in 2023, 89% of UK consumers shopped online, with global ecommerce sales reaching a staggering $5.5 trillion. This represents a significant shift from just a few years ago, with online retail now accounting for over 19.4% of total global retail sales. In the UK, that figure is even higher, with online sales making up nearly 30% of all retail transactions. This trend isn’t slowing down either, with mobile commerce (m-commerce) expected to grow by $3.2 trillion by 2026, as more consumers opt to shop via their smartphones.
And then there’s Amazon. Their recent foray into the online pharmacy space is a testament to how consumer behaviour is shifting – faster than you can say “prime delivery.” They’re capitalising on this trend, offering consumers the convenience of purchasing over the counter (OTC) products with just a few clicks, often at competitive prices. But does this mean traditional media, like TV and radio, are relics of the past?
Let’s not write off traditional media just yet. While it might seem like a thing of the past, traditional media still has its place in the marketing mix. Think of TV ads during prime time or radio spots during your morning commute – these are powerful tools that reach massive audiences, driving both brand awareness and sales.
There’s also the undeniable impact of Out-of-Home (OOH) advertising. Picture this. A massive billboard showcasing your brand at a busy intersection. While it might seem “old school,” OOH can significantly amplify your online efforts, creating a synergy that’s hard to ignore.
So, can a brand survive – and even thrive – using an online-only approach? Sure, it’s possible. Brands like Hims & Hers, a telehealth company, have made significant strides by leveraging online channels almost exclusively. Their strategy? They focus on personalised, digital-first experiences that speak directly to the consumer, often bypassing traditional retail entirely.
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Are Brick-and-Mortar stores still important?
The short answer? Yes. While online retail is booming, physical stores still play a crucial role in the consumer health space. Many consumers still value the tactile experience of picking up a product, reading the label, and making an informed decision in-store. Plus, traditional retail offers a unique opportunity for brands to engage with customers directly, through promotions, in-store displays, and knowledgeable staff.
The key to building a robust brand in today’s market is a balanced approach that leverages both online and traditional media. Enter ad tech – a game changer for modern marketers. With tools like Space & Time’s Precision Engine, you can create omni-channel campaigns that span mobile, Digital Out-of-Home (DOOH), Connected TV (CTV), and audio. This allows for cross-data targeting and the ability to measure in-store footfall, increasing your reach to shoppers with high intent to purchase.
For example, let’s say you’re running a campaign for a new OTC product. With a DSP like Precision Engine, you could target a health-conscious audience across multiple channels – showing them an ad on their phone during their morning scroll, reinforcing the message with a podcast ad during their commute, and finally, with an OOH ad near a popular gym. By the time they walk into a store (or hop onto Amazon), your brand is top of mind.
While there’s no denying the power of online marketing, traditional media still plays a critical role in building long-term brand equity. The most successful consumer health brands are those that blend the best of both worlds – leveraging the precision of digital with the broad reach of traditional media.
So, can you build brand awareness online only? Sure, but if you want to build a strong brand that stands the test of time, a mixed media approach is the way to go.
Remember, in this digital age, it’s not just about being online; it’s about being everywhere your customers are.
If you want to learn more about how Space & Time can help your brand achieve this balance, get in touch with us today. Together, we’ll make sure your brand isn’t just seen – but remembered.