Content Marketing: New Opportunities for Building Strong Brands Online Authors: Atina Georgieva & Alexandra Djoukanova MSc. International Marketing & Brand Management Lund University 26 May 2014 Abstract Title: Content marketing: new opportunities for building strong brands online Date of the Seminar: 2nd June 2014 Course: BUSN 39 Degree project in Global Marketing, Master Thesis Authors: Atina Georgieva and Alexandra Djoukanova Supervisor: Veronika Tarnovskaya Keywords: Digital content, content marketing, online branding, brand equity online Thesis purpose: The purpose of this thesis is to illustrate the opportunities that digital content creates for companies to strengthen their online brands. The present research takes a managerial perspective on the content marketing process and explores how digital content can be used to build brand equity online. Methodology: A social constructionist ontological position and an interpretivist epistemological stance of the authors of this thesis guided the adoption of a qualitative strategy and abductive approach. This research is based on an exploratory single-case study research design. Theoretical perspective: The thesis used and built upon existing theories in the fields of content marketing, online branding and brand equity online. The Simmons’ (2007) ‘Four Pillars of i-Branding’ framework served as a basis for empirical data collection and analysis, hence aided in answering the research question. Empirical data: Two data collection methods have been applied within the research design. First, five semi-structured interviews with three representatives from the selected company were conducted. Second, virtual observation of the digital content on the company website and social media was performed. Findings: Three phases of the content marketing process were identified, namely planning, creation and distribution. The strategic decisions and activities in each phase of the process revealed how digital content can be used as a tool to build brand equity. First, the brand equity building process is triggered in the content distribution phase when different distribution tactics cause branding effects, such as increased brand visibility online, favorable user experience, greater personalization, leadership associations, increased user interaction and enhanced brand message. In turn, these effects can increase brand awareness and create positive brand associations. Second, the ongoing segmentation based on the users’ needs and the continuous delivery of relevant and valuable content favor a genuine relationship between the brand and its audience. This creates opportunities to establish brand trust and brand loyalty, hence leveraging brand equity in the long run. Acknowledgements We would like to thank all the respondents in this study for their openness and willingness to share their inspirational and insightful thoughts. We are particularly grateful to Svetla Yankova for her time, valuable input and contribution throughout the entire research. Without her help and efforts to introduce us to other representatives of the company, this thesis would not have been possible. Our big appreciation and special thanks go to our dedicated supervisor Veronika Tarnovskaya for her responsiveness, guidance and priceless input. Working with Veronika has been a great pleasure and we take with us her valuable advices. Finally, we are grateful to our families and friends for their constant support, even at a distance. Lund, 26 May 2014 ____________________ _____________________ Atina Georgieva Alexandra Djoukanova Table of Contents 1. Introduction ............................................................................................................................ 1 1.1. Background ...................................................................................................................... 1 1.2. Problem formulation ....................................................................................................... 3 1.2.1. Content: beyond the website ................................................................................... 3 1.2.2. A missing link: digital content and brand equity online ........................................... 5 1.3. Research question and purpose ...................................................................................... 7 2. Literature Review ................................................................................................................... 9 2.1. Online branding ............................................................................................................... 9 2.1.1. Branding basics ......................................................................................................... 9 2.1.2. Defining online branding ........................................................................................ 10 2.1.3. The importance of online branding ....................................................................... 11 2.1.4. Online branding tools ............................................................................................. 12 2.2. Digital content and content marketing ......................................................................... 14 2.2.1. Digital content basics ............................................................................................. 14 2.2.2 Academic research on digital content and content marketing............................... 17 2.3. Brand equity and brand equity online .......................................................................... 21 2.3.1. Brand equity ........................................................................................................... 21 2.3.2. Brand equity online ................................................................................................ 23 3. Methodology ........................................................................................................................ 31 3.1. Research philosophy ..................................................................................................... 31 3.1.1. Social constructionist ontological position ............................................................ 31 3.1.2. Interpretivist epistemological stance ..................................................................... 32 3.2. Research strategy and approach ................................................................................... 33 3.2.1. Qualitative research strategy ................................................................................. 33 3.2.2. Abductive research approach ................................................................................ 34 3.3. Research design ............................................................................................................. 35 3.3.1. Exploratory case study design ................................................................................ 35 3.3.2. Single-case study research design .......................................................................... 36 3.4. Data collection methods ............................................................................................... 37 3.4.1. Semi-structured interviews .................................................................................... 38 3.4.2. Virtual observation ................................................................................................. 39 i 3.5. Sampling method and empirical data collection .......................................................... 40 3.5.1. Case selection ......................................................................................................... 40 3.5.2. Interview respondents ........................................................................................... 41 3.5.3. Virtual observation ................................................................................................. 42 3.6. Research frame ............................................................................................................. 43 3.7. Trustworthiness ............................................................................................................. 44 3.8. Methodological limitations ........................................................................................... 45 4. Empirical Findings ................................................................................................................. 47 4.1. Case setting ................................................................................................................... 47 4.1.1. Telerik - from a Bulgarian startup to a global IT leader ......................................... 47 4.1.2. Telerik Sitefinity as a product ................................................................................. 48 4.1.3. Telerik Sitefinity as a brand .................................................................................... 49 4.1.4. Internal marketing structure .................................................................................. 50 4.2. Content characteristics.................................................................................................. 50 4.2.1. Content as a problem solver .................................................................................. 50 4.2.2. Content as an educational material ....................................................................... 52 4.2.3. Content as a story teller ........................................................................................