Branding 2.0 is a new concept that slowly is entering in the marketing online world. To have a decent reputation offline and not take care about the Brand in the online side of it could have such a bad effect in the way your brand is seen by your customers.
Branding 2.0 is a way of getting and keeping conversations with your customers in a very effective way. Rank high in Search Engines, use the PPC campaigns for certain specific campaigns or spread your ideas/products/feelings through the wonderful world of social media.
Branding can be measured, Reputation can be measured and both are useful for making your customers happy.
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