By Bob Garfield, Doug Levy
Today's manufacturers face an obvious selection among evils: proceed having a bet on their more and more useless ads or placed blind religion within the supposedly mystical energy of social media, the place "likes" stand in for transactions and a mass viewers is maddeningly elusive.
There needs to be a greater means . . . As Lennon and McCartney wrote a part century in the past, cash can't purchase you're keen on.
But in today's global, the place humans became desensitized-even disillusioned-by advert campaigns and advertising and marketing slogans, that maxim wishes an replace: cash can't even purchase you're keen on
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Additional resources for Can't Buy Me Like: How Authentic Customer Connections Drive Superior Results
Similarly, a brand is a form of socially constructed reality that has attained an objective reality, which is why it can have a monetary value that is dependent on the totality of perceptions held about it – the total amount of attention that has been allocated to it. How much is that brand in the window? Beyond purchases and goodwill on balance sheets, there are various industry reports that measure the dollar value of the ideas we call brands. The BrandZ report by research company Millward Brown is one of the most respected, but most share a basic methodology compounded with some proprietary data.
Logocentrism Persistently irrational behaviour The financial values attributed to brands are indicative of the economic value they create for companies. This value is caused by creating persistent irrational behaviours, or seemingly irrational behaviours, in customers. Alongside the balance sheet, strong brands have been shown over time to create price elasticity of demand. That is to say, the company can charge a premium for the product without dramatically affecting market share. People will pay more money for the same product.
However, social media are, usually, overheard, because they operate in public by default. So there are two directions in which this can go: 1 Companies can keep acting like one person doesn’t make a difference and see how much time, effort and creativity that one person will deploy to get his or her frustration out into the world, as Dave Carroll did – and see how receptive the world is to such messaging. 37 38 Attention Deficit Disorders 2 Decide that customer service is the most important thing a company does.
Can't Buy Me Like: How Authentic Customer Connections Drive Superior Results by Bob Garfield, Doug Levy