Shocking Truth: You No Longer Have The Power! Before social media, companies could control how they want the public to perceive their brands. Traditional media is largely a one-way form of communication, meaning that companies had the power to say whatever they want about their brand without being challenged or disputed. Even if there were detractors, they did not have the means to communicate their disapproval to a large audience. The “viral” effect was not there. Now, social media has changed all the rules. Companies are no longer in control. What a brand is, is now determined by what their consumers say it is. Companies can still position themselves a certain way, and push their messages to their target audiences. However, if the consumers don’t agree, then your branding has failed, and your company’s fate will be decided by what your consumers feel and say about it. All is not lost though. Companies can still subtly influence their consumers to follow their decree. This requires companies to embrace and accept the shift in power; that brands are no longer created, but co-created. And it is not a 1:1 ratio. The consumers hold the majority of the power, and companies have to rethink their marketing strategies to account for this transition. The reality is that social media has amplified the consumer’s voice, turning individual sporadic murmurs into accumulative roars. Never underestimate the snowball effect a collective mentality can have. It could make or break your brand. In order to co-create the ideal branding for your company, you need to ensure that your consumers enjoy magical and shareable experiences when interacting with your brand. This is the best way to convince sceptics and turn short-term consumers into long-term brand champions. The snowball effect does not have to be negative all the time. If positive experiences are shared by many on social channels, your brand will eventually emerge ahead of the pack. The bottom line is: consumers hold the power now. Companies have to rework their marketing and outreach efforts so that they can continue to cater to consumer needs. Social media can work both ways; negative talk about your brand can lead to disastrous consequences, but positive reviews will do wonders for your business. For companies to fall under the positive category, mentalities and physical boundaries have to change. It will not be easy by any means, especially for traditional companies that have operated based on traditional structures up till now. But embracing change and accepting new roles is the only way for traditional companies to thrive in the social media age.
Posted on: Thu, 13 Mar 2014 11:45:00 +0000
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