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THURSDAY JUNE 14 2012FT.COM | The Connected BusinessCan your brand win with social media?By Christopher Vollmer and Karen ...
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Ft Rp3510 Booz Final Pdf Printable Can Your Brand


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article that appeared in Financial Times by Christopher Vollmer on what brands need to do to win in social media

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Ft Rp3510 Booz Final Pdf Printable Can Your Brand

  1. 1. THURSDAY JUNE 14 2012FT.COM | The Connected BusinessCan your brand win with social media?By Christopher Vollmer and Karen Premo ny brand worth its salt is behavior with a responsive, Twitter, that means immediacy. represents an enormousA trying to figure out how to engage and activateconsumers via social media. interesting, valuable, and attentive social experience. They have to do all this in real time With Facebook, it means making a creative, inspiring, and useful contribution to the community.” opportunity to gather unfiltered consumer insights that can be leveraged in advertising,Those that are not focused on while reinforcing the brand’s In expanding their social media customer service, and productbuilding capabilities in this area positioning, the unique brand efforts, marketers need more of development.are, at their peril, ignoring one of voice, and the company’s the “publisher” mind-set as they Dell is a brand that is realisingthe most important global business objectives. compete for fans’ attention and this value today. The companydevelopments in media, Like a great dinner party host, loyalty with more owned and relentlessly analyses themarketing, and technology community managers need to earned media. This spurs a need connection between social mediatoday. excel at conversation, for more creative resources and engagement and revenue Most companies recognise this: interaction, curation, and content; already, among generated in physical as well as96 per cent are developing a listening. As they are the core companies planning to hire online stores, which helps itsspecific strategy for social media, orchestrators of brand-to-user social media talent within the executives understand how socialand 95 per cent expect to spend connectivity, companies must year, 72 per cent are prioritising media impacts loyalty, productmore on social media in the resist the temptation to producers and editors above all innovation, brand favorability,coming year, according to our outsource this capability, and other needs. and even costs (such as the costresearch. With everyone jumping instead follow Starwood Hotels Burberry stands out as a brand of customer support).into the social media and Resorts’ example. that has become a social content Companies are awakening toconversation, what makes Starwood identified a dedicated powerhouse. In 2011 it streamed the broader, enterprise-widecompanies stand out and helps community management role a live video feed of its value of social media. Althoughthem connect their brands to that the company nicknamed spring/summer and fall/winter today two-thirds of the 117consumers more distinctively ‘the Lurker’: part brand shows, sharing its unique companies we studied dedicate 5than their competition? champion, part chief listener, content with millions of fans and per cent or less of their digital It certainly takes more than this customer service interested consumers on marketing spend to social media,‘likes,’ ‘followers,’ and ‘views’ on professional engaged customers Facebook and YouTube. within the next three years,Facebook, Twitter, and YouTube. on travel forums, answering Similarly, it premiered an ad for more than half expect to spendA 2011 study of 117 leading questions and resolving issues. its fragrance ‘Body’ on 10 per cent or more, and one-companies conducted by Booz & This role has since evolved into a and YouTube - not quarter expect social mediaCompany with social enterprise dedicated team monitoring social TV. Social media, as a result, has spending to exceed 20 per provider Buddy Media, channels in real time and significantly reduced Burberry’s To maximise the value of thisfound that companies such as delivering high-quality, dependence on traditional media, increased spend, companies willBurberry, Diageo, and Nike are personalised service experiences especially print. need to move beyondfocusing on three new that have translated into higher Finally, marketers need to have experimentation and transformcapabilities that will enable them guest satisfaction for Starwood - real-time analytics capabilities their capabilities in communityto excel in social media. In doing guests who are more likely to to assess the impact of social management, contentso, they are fundamentally return and to recommend a stay media efforts, and confirm they development, and real-timetransforming their marketing, as to their friends. are on target. Our research analytics. This focus onwell as other functions including Next is content development, indicates there are four levels to capabilities will enable them tocustomer service, research, sales, the ability to create authentic, a real-time analytics capability, deliver a distinctive, repeatableand product development. participatory, and sharable with increasing levels of social media outcome that both The first capability is content (in multiple formats) sophistication: reach, elevates their brand andcommunity management, the that builds an active connection engagement, advocacy, and strengthens their bottom line.mastery of convening, hosting, between a brand and its fan return on investment.and serving fans. A cosmetics community. “The most Only 40 percent of companies Christopher Vollmer is a partnerbrand manager compared social compelling stories are told by currently have the metrics in with Booz & Company leadingmarketing to hosting a party: “It brands that use the inherent place to measure ROI-focused the firm’s global media andtakes planning, effort, and an properties of social media to do indicators such as purchase entertainment practice. Karenappealing environment where something [they] cannot do in intent, leads generated, and Premo is a principal in Booz &guests feel welcome and other media,” says Ajaz Ahmed, conversion rates, but brands Company’s global media andengaged.” Brands can not just chairman and founder of AKQA, must move in this direction. In entertainment practice.invite fans in; they have to listen one of the world’s leading digital addition to the ability to measureto them and reward their advertising agencies. “With business outcomes, social media© THE FINANCIAL TIMES LIMITED 2012