How Is Social Media Changing Your Brand Strategy?

Tracy Stokes

How many times have you been asked, “What’s your social strategy?” As Facebook’s IPO grabs the headlines, and new social sites like Pinterest and Tumblr grab consumers’ attention, many marketers are wrestling with what brand building looks like in today’s social world. But the real question you should be asking yourself is, “How does social media change your brand strategy?”  

Marketing leaders now view social media as critical for brand building. In our February 2012 Marketing Leadership Online Survey, nine out of 10 marketing leaders told us that social media is fundamentally changing how brands are being built in the 21st century. In fact, they view it as second only to search for brand building. But many are still struggling to determine how to integrate it into their marketing plans. The truth is, while social is a great new tool, it lacks the power to build a brand alone. Marketing leaders such as Coca-Cola and JetBlue recognize this and are integrating social with paid and owned media to build a 21st century brand experience. In my new report, "How Social Media Is Changing Brand Building," I identify three ways social media can help marketers harness the power of social to build their brand by 1) building a relationship to become more trusted; 2) differentiating through an emotional connection to become more remarkable; and 3) nurturing loyal fans to become more essential.   

How is social changing your brand building strategy? What challenges are you facing in the social brand building world? Comment here, or join the conversation in our community of marketing leaders.

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Marketers Should Cut Ad Budgets To Thrive In The Age Of The Customer

Shar VanBoskirk

At least once a week I get a client inquiry wondering what is "the next big thing in interactive marketing," seeking to identify what will out-tweet Twitter or out Goog Google.  Well, in his new report, Competitive Strategy In The Age Of The Customer, my colleague Josh Bernoff articulates what is next for all businesses: A disruptive shift, where the power of customers means that firms must focus on the customer now more than any other strategic imperative.  In fact, the only source of competitive advantage is the one that can survive technology-fueled disruption — an obsession with understanding, delighting, connecting with, and serving customers. In this age, companies that thrive, like Best Buy, IBM, and Amazon, are those that tilt their budgets toward customer knowledge and relationships.

See Josh's post Welcome To The Age Of The Customer: Invest Accordingly for detail on how the Age of the Customer disrupts established competitive strategy.

The zinger in this report for interactive marketers is to: Prioritize word of mouth over mouthing off. Cut your ad budget by at least 10%, and spend the money on connections that have a multiplier effect like social, devices, and content. Ads are far more effective when customers are primed to believe them.

This means that interactive marketing of the future is really focused on interactivity -- not just on pushing out marketing messages through digital channels.  Three ways to get started creating more interactive marketing relationships:

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It's Not Too Late For Nestle

Christine Overby

 

On Friday, I attended the Justmeans’ Social Media and Stakeholder Engagement conference on how Social Media can be used for Social Good. I almost didn’t make it. I thought, Yes, this should be interesting, but how much does corporate responsibility and sustainability matter to the day-to-day of most Interactive Marketers? At the conference, I started getting tweets that called out Nestle on the tone of its Facebook status updates. Fast forward 72 hours, and Nestle is dealing with a PR crisis of Epic Fail proportion, as Facebook “fans” slam its business and environmental practices in the developing world. Yep, it matters.

 

Plenty has been said today about how Nestle failed. But I keep thinking about another question, “Is it too late for Nestle?” And maybe it’s the eternal optimist in me, but I don’t think it is. Nestle still has a chance to shape the tone of the discussion by sharing next steps in social communities. Interestingly, Nestle did respond to the Greenpeace allegations in a March 18 statement on its website, and they told traditional media outlets on Friday that they would remove a questionable supplier from all parts of their (very complex) supply chain by mid-May. But that word isn’t getting out - Clearly, traditional outreach isn’t enough. Bjorn Edlund, former EVP of Communications for Shell, joked at Friday’s conference: “The best way to hide data is to put it on your corporate website.” Case in point.

 

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