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Exit Through The Internet - How the web disrupts brand loyalty

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Five sources of brand loyalty the web has disrupted and six suggestions for what to do about it. Written by @simonpearcelive

Published in: Business, Technology

Exit Through The Internet - How the web disrupts brand loyalty

  1. Exit through the internetHow the web disrupts brandloyalty and what to do about itFabricBranding
  2. Five important sources ofbrand loyalty that theinternet has disrupted…
  3. 20th century brands builtloyalty through familiarityand familiarity throughrepetition……but the internet prefersnovelty to repetition.Source #1Familiarity
  4. Unhappy customers always told people; that wasdamaging. Millions of hits on YouTube is more damaging.Source #2The communications monopoly
  5. Better, faster, cheaperSource #3Limited awareness of alternatives
  6. Online retailers will ship anything,anywhere. Distribution is no longer thesource of advantage it once was.Source #4Proprietary Distribution
  7. Source #5The allure of perfectionLifestyle brandingwill always have arole to play, but thepopularity of siteslike YouTube showus that being “real”is increasingly moreimportant thanbeing “perfect”.
  8. What’s a brand to do?
  9. Lots of prescriptions being offeredContentMarketingSocial MediaBIG DATATake FourDaily
  10. The real problem is hard to pin down
  11. Too much focus on the latest marketingtools when the true answer lies deeperinside your business?
  12. The true impactof the internetCustomers no longer haveto stay with brands thatthey are not ecstatic about.No amount of clevertargeting will overcome thissimple truth. In almostevery category, it’s too easyto switch to a new providerfor a product or service.
  13. Customer experience is the biggest driverof loyalty and customer recommendationsNote: *As measured by the Forrester Research “Customer Experience Index”Source: Forrester Research: Manning, Harley; Bodine, Kerry (2012-08-28).0.71 0.65Correlation between customerexperience index and futurepurchase intent*Correlation between customerexperience index and positiveword-of-mouth*
  14. Social media is best used to support, notreplace, a great customer experienceSocial media offers tremendouspromise for brands that canincorporate it into a broaderstrategy of building and managingrelationships with customers.Promotional gimmicks aimed at “buying” likes on Facebook orre-tweets on Twitter have little true impact on a brand’sfortunes. Such approaches are applying, on the internet, thevery tactics that the internet has already made redundant.
  15. Six prescriptions for buildingpowerful brands now1.  Outstanding experiences trump outrageous promises2.  A great customer experience is not an accident, it must bedesigned3.  Companies need to work across departmental boundariesto design and deliver those great customer experiences4.  The best, most credible, brand stories are developedorganically, through real-world interactions with customers5.  Digital strategy and customer relationship strategy shouldbe developed together, as two sides of the same coin6.  Empower frontline employees to use social tools to buildstrong customer relationships
  16. We hope you enjoyed this presentation,here are some links for more content:More content fromFollow FabricBranding on TwitterFollow the author, SimonPearce, on Twitterwww.fabricbranding.com/blog@fabricbranding@simonpearceliveFabricBranding

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