
Coke
Cola has an estimated brand equity value of over $67 billion, making
Coke the number one brand in the world. Amazing for a company that
sells sugar and water in a can.
Branding is a critical process for any
company and protecting a brands image and market position is vital to
market relations and shareholder value.
Garr Reynolds, former Apple Brand Executive. says, “The
greatest brands of all — that is, the greatest brands to you — are much
like a trusted friend. In a sense, we judge brands by asking ourselves
the same kind of questions we would ask about people we know or are
thinking of doing business with. For example, we might ask: Is he
authentic? Is he reliable? Is he honest? Can I trust him? ‘
Is the Social Web a threat to brands?
With the reach and openness of the social web people are discussing
anything about everything, including major brands. There are fifty
groups on Facebook titled “Conversations on” (name the brand) and the one about Comcast has
gotten significant traffic and subsequent conversational threads about
Comcast service. Good, bad and indifferent, the connected individuals
are forming swarms and creating conversational rivers about a brands
performance. Comcast is now directly engaged in these conversations and
active in this group.
Jeff Jarvis writes in Business Week,: Here’s some free advice: Go to Google (GOOG),
enter any of your company’s brands followed by the word “sucks,” and
you will see the true consumers’ reports. Brace yourself: It won’t be
pretty. Wal-Mart’s (WMT) unofficial Google Sucks Index turns up 165,000 results; Disney’s (DIS) 530,000; Google’s 767,000. What’s your number?
Staying a Step Ahead
You see, this is about more than putting out blog fires or
quieting complaining customers. It’s about more than customer service;
indeed some say customer service is the new marketing (that was the
title of a conference this month in San Francisco). No, this is about
collaboration with your customers in every aspect of your business. If
you enable them, they will provide customer service for each other.
They will help design your products. They will sell your products. They
will create your marketing message—they always did control your brand.
So when you reach out to that kvetching blogger you found
online, you’re engaged in customer service as well as PR, market
research, marketing, sales, and product development. You are
reinventing your company—and, if you get there before your competitors,
your industry. That is why you shouldn’t relegate this vital task to
one department or some interns or consultants. You should reorganize
the company around this new relationship with your customer, finally
putting that customer at the center of everything you do because—thanks
to the Web—you can. If you don’t, well, someone will you say you “suck
How Will Brands Respond?
Peter Montoya’s book “The Personal Branding Phenomenon “says, “It’s
the new reality no one wants to concede - and it’s the cold, hard
reality behind success in the new millennium. From the schoolroom to
the boardroom, everyone succeeds - or fails - by the rules of Personal
Branding. Personal Branding isn’t the product of ad agencies or
corporations; it’s a continuous process that’s as old as society. A
Personal Brand - the values, abilities, and personality traits people
associate with each of us - affects our careers, our relationships… our
lives.”
The message to the major brands is that the social web has made branding personal and unless the brands learn how to be personal
then the social web is a threat. When people call customer service or
have a problem with a brands product or service they want personal
service, not an automated answer. Bad service or no service,
thanks to the social web, is not longer contained to the few rather bad
experiences can spread one to one to millions at the click of a mouse.
Brands have two choices: deny the process, or engage in it. Now
consider how much social networking and related emerging technology has
created the phenomena in which the masses are becoming connected with
influence. Your
brand is largely influenced by what customers testify as to its
quality, responsiveness and ability to identify personally with the
customer, people.
Now
stop and reflect as to whether your brand is active in the social web
or ignoring it. If your answer is the latter then your brand is failing
to personally engage with the customer, people.
What say you?