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Branding In A Collaboration Economy Dannielle Blumenthal, Ph.D. @thinkbrandfirstPhoto via Flickr by Terriko October 3, 2012
“Business Exists to Create a Customer.” - Peter Drucker
Manufacturing Is Going Away ● Domestic labor is expensive ● Innovation is minimal advantage as its rapidly copied ● Struggling consumers prefer cheapest functional product ● Product itself is no longer a source of competitive advantage
Rise of the Intangible Economy Emotional Intelligence Intellectual CapitalBarista photo source here; Gekko here
Service Economy 2.0 = Networked Experts ● Information overload . means no one person can keep up. ● Complex projects require integrated teams. ● Relational skill integrates disciplines and resolves conflict. ● Value is derived by integrating intellect and emotional intelligence. ● Peers = Customers."Friends" screenshot source here
Networked Economies Reverse The Traditional Customer Hierarchy Employee Engage and Align Peer Recruit and maintain teams Customer Vendor of Choice
Must Overcome These Challenges 1. Information hoarding 2. Information overload 3. Lack of knowledge management infrastructure 4. Lack of collaboration norms 5. Rapid technology change 6. Technological illiteracy 7. Unfair distribution of rewards 8. Lack of conflict management 9. Poor project management10. Poor internal communication
Customer Relationship Quality Creates Brand Value50%of senior executivesdefine brand as“relationship withcustomer."96%say “customersatisfaction” is aprimary measure ofbrand value.Source: Prophet Brand Strategy, “Operationalizing the Brand,” 2002.Photo by Woodley Wonderworks via Flickr.
How?Invest InRelationships Brand Here Your “Products are made in the factory, but brands are created in the mind.” - Walter Landor
An Integrated Dashboard for Measuring Brand Success Attitude Behavior PriceAwareness, Like or Dislike, Intent Collaboration, Consultation, What Would Someone to Use or Buy Recruitment, Purchase Behavior Pay to Acquire? Source: “Brand Valuation: Viewpoint of Customer & Company, Engineering Economics Images: "The Thinker" and Flickr: Stock Chartt, and Running