The Identiti Chronicles
The Evolution of Your Brand’s IdentityArchive for Consumerism
The Social Media Mirror: Redefining Customer Conversations
Much has been said about the significance of social media, its meaning, its origins, etc. The bottomline is this, social media to the user, consumer, to me, to you is a mere reflection of the social interactions people have in the physical world. It is the technology that enhances the ability for more efficiently communicate with other people. The significance to marketers? It’s observable and measurable like no other medium of communication. Since social media allows the individual to create a digital representation of themselves, if offers unparalleled insight into consumer behaviors (hence the focus group or fish bowl concept as I refer to is obsolete).
When Consumer Brands Become Media Brands
John Battelle’s search blog included a post with one of the most meaningful excerpts on the signficance of brand association. The premise is simple, the most coveted consumer brands (anything Italian, BMW, Coach, Ritz) love dealing with the most reputable media brands (Oprah, Wired, American Idol, and so forth). Why because both represent a passionate community of followers who are deeply engaged in a shared interest. Consumer brands are drawn to these properties because of association with quality, refinement, influence, and they know the mere association lends to a priceless connection with the consumer.
So what happens when the next wave of great media brands are owned by consumer brands. The digital spectrum has changed the paradigm; a brand’s equity doesn’t naturally transfer and carry the same social currency online. P&G launched http://www.totalbeauty.com/ (not Glam or Cosmo mag). Kanye West launched www.kanyetravel.com (not Orbitz). Diesel Jeans launched an online dating community last year (you get the picture). Consider this just the beginning. Ogilvy’s Doug Scott pledged that “brands should own entertainment rather than rent it.”
Considering that the average 60 second spot costs $1MM and has a shelf life of 6 to 9 months, why not invest that money and build a platform to cultivate a community of consumers.
From Brand Manager Control to Consumer Control
In the world of networked communities, the power shift from the brand manager to the consumer is taking place. It’s no longer about product attributes on package labeling; it’s about consumer reviews and opinions. Here’s the excerpt from iMedia.
Jeffrey F. Rayport gives the iMedia Summit keynote presentation
INTERACTivism – Defining the Culture of Customization
The societal shift is called “Prosumerism.” It is where the Consumer is the Producer, defining and producing the produce. Hence any new go-to-market approach must elicit the participation of the consumer. Think Geico, CurrentTV, or thetruth campaigns. The Prosumer movement is driven by early adopters. The key is to allow this prosumer to co-opt or co-author their brand experience. This is all fueled by the national trend of Mass Customization (or when consumers get to decide the exact specifications of their end product or service) for which the advancement of technology has largely been the culprit. What marketers collectively fail to see is that “customization” is how brands breakthrough the clutter. Now enter “INTERACTivision,” a term coined by a group called GTM out of Atlanta. INTERACTivision is marketing by which consumer empowerment (the impetus for prosumerism) and respect for the culture (that culture being co-creation) come first. It reflects an innate understanding for societal influences.
People are Building Brands
April 3, 2008 at 3:00 am · Filed under CMO commentary, Consumerism, Digital Identity, Intellectual Divide, Return to Strategy, Trends
Not advertisers, not advertisers, and not brand stewards (read Mediapost article). Brands are now being defined by the conversations consumers are having about products and services. That means in order to keep building brands, brands must go where the consumer is going. comScore reported that every month 600 million people visit conversational media sites. In this era of consumer-in-control movement that leaves very little comfort as brands must now venture into unchartered territory. Nevertheless, the societal shifts necessitate that brands follow or perish.
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