The New Definition of Brand

The culmination of share and experience economy may slowly shift to Virtual Experience as a new brand definition. Though virtual is still in it’s infancy we see a rise of tech companies preparing for the next wave of snazzy tech obsession, from the Google Tilt Brush to Alibaba’s VR & AR shopping experience.

 The Virtual Experience economy will shatter the way brands have traditionally defined what it means to be a brand. No longer can they rely on a pretty logo, stunning websites, lavishly cool ads and defined corporate colors. Within the last 20 plus years the definition of brand has shifted so far away from where it started, a simple Norse word that meant to burn.

But are we truly ready to embrace this new virtual experience economy? Will it be a global phenomenon powerful enough to shift the way we conduct business? I mean we just started to understand the sharing economy. The questions will continually arise but it would be a total folly to not consider the fact that, yes your brand in the future may need to consider building a strategy around VR and even allocating dollars in your marketing budget.

 As of now we are not quite there yet. But what can brands do in the meantime? Connection is still the currency of brands. So in part it must be a focal point for brands to create a connection through emotions. That will be the strongest and most magnetic way to consumers’ brand loyalty.

So in order to create emotions it can be done through events, images, or the words you use. It can even be conveyed through the way you interact with customers both online and offline. It needs to be a deliberate, planned out approach that’s finely executed consistently.

In the end you what do you think? Is there any clout when it comes to the virtual experience economy? Will it shape the way brands are brands? Leave a comment with your thoughts would love to hear what you think.