According to Ricardo Guimarães of Thymus Branding, brands belong to customers, not companies (Li & Bernoff, 2011). He further states, “The value of a brand belongs to the market, and not to the company. The company in this sense is a tool to create value for the brand… Brand in this sense—it lives outside the company, not in the company. When I say that the management is not prepared for dealing with the brand, it is because in their mind-set they are managing a closed structure that is the company. The brand is an open structure—they don’t know how to manage an open structure” (Li & Bernoff, 2011, p. 79). So if your brand is what your customers say it is, then how do you find out what your customers are saying? The answer: you have to listen. Keep on reading!
The BusinessWeek Bestseller, Groundswell: Winning in a World Transformed by Social Technologies, written by Charlene Li and Josh Bernoff, focuses on a movement called the groundswell. The groundswell refers to “a social trend in which people use technologies to get the things they need from each other, rather than from traditional institutions like corporations”(Li & Bernoff, 2011, p. 9). In the third chapter of Groundswell, authors Li and Bernoff discuss the concept of the social technographics profile. Social technographics can be defined by splitting the term in two. The “social” aspect refers to the people-to-people activities in the groundswell whereas the “technographics” aspect refers to Forrester Research’s methodology for surveying consumers (Li & Bernoff, 2011). Ultimately, the essence of social technographics is the process of grouping people together based on the online activities they participate in. Keep on reading!
Social media is an extremely valuable tool for businesses and brands; however, many businesses are failing in this area because they mistakenly believe that in order to have success with social media marketing, they need to be active on EVERY social media site. This strategy, unfortunately, will almost surely backfire. Businesses are busy and with too many social media sites to manage, resources can become stretched too thin resulting in subpar content, inactive accounts, and disengaged followers. So what’s the solution? Keep on reading!