How is social media changing the business of branding?

The best brands have always been focusing on doing what they are saying.

Then all of a sudden people, every single one of us, could publish content. Not only media, government and brands.

So a brand is no longer only competing against other competitors stories for attention, but peoples own stories.

That´s why brands now try to become part of these stories between people by creating solutions that assists people to tell stories about themselves and each other, assists people in creating a meaning, to belong etc.

My 2 cents in this new marketplace is that brands needs to focus more on activating the market than listening and create more compelling rewards for participation.

Do something with people by activating the market through compelling 365 days solutions (combination of platform, communication and product) and make sure to still tell people what you are doing through advertising to help people after rationalize why their participation is valuable.

A fundamental shift for branding strategy due to a fundamental shift in the marketplace.

2 responses
Well said! There's an interesting tie in to purpose based efforts. Identifying people's united purposes and passions.
Thnx and agree 100% with your comment Sean. What is the purpose of a brand today? Before: To create a new customer. Today: To create a customer that creates new customers < a much harder job. But still very few brands have a good, or good enough, answer to why are they in the market?