The Identiti Chronicles
The Evolution of Your Brand’s IdentityArchive for Digital Identity
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if offers unparalleled insight into consumer behaviors (hence the focus group or fish bowl concept as I refer to is obsolete).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.
Book: RenGen (Rise of the Cultural Consumer)
In Patricia Martin’s book, rengen, the cultural consumer is defined as a thinking, expressive, and idealistic individual that istransforming and challenging current notions around consumer behavior. The importance of the cultural consumer concept is understanding how the collective identity of the consumer mindset has shifted. Patricia notes that it’s not whether marketers have failed to witness the shift; it is that they are ill equipped to capitalize on the rebirth. “In the RenGen, there is no safe passage for brands that are willing to insult the intelligence of consumer” – Patricia Martin
The Digital Disruption
Much has been debated about the state of advertising…and it’s current upheaval. It’s the natural evolution of disruption that has sent the industry into a “tizzy,” and we’ve only witnessed the tip of the iceberg. What disruption teaches us is that adaptability, flexibility (yes that includes the money flow too), and strategic foresight will be the cornerstones that allow businesses (think Google) to sustain momentum during a sea of change. More to come as this is the first installment…
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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