Social Media and Brand Equity
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How to use Levi’s core social strategies to capture Millennial love

How to use Levi’s core social strategies to capture Millennial love | Social Media and Brand Equity | Scoop.it

Ask anyone under the age of 30 their favorite brand of jeans many—if not most—will say Levi’s. Recently, this 160 year-old brand has managed to become one of the most popular clothing brands among Millennials.

How did this classic brand do it and what can other brands learn from their success?

In order to attract the emerging Millennial audience, Levi Strauss & Co. completely transformed their marketing strategy and brand identity starting in 2009. They implemented set of core marketing goals over the next few years that would ultimately lead to their current success. Interestingly enough, these three strategies are not exclusive to the clothing industry. Other brands can use these same techniques to attract this sought-after consumer group.

Sophie Pagani AUT's insight:

In order to gain brand awareness and equity, Levis developed core strategies that would be useful in a variety of businesses. They succeeded in becoming a well loved jean brand by embracing digital media, such as Facebook and Twitter to broaden their message and connect with customers. Engaging the customers is important and this can be done through advertising or through social media such as video sharing or competitions they have to be involved in to enter. Consistent messaging therefore is also important so the message is strong and communicated clearly, this way the brand equity will also increase. 

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Rescooped by Sophie Pagani AUT from The MarTech Digest
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Three Things Marketers Must Do To Demonstrate Their Worth - Forbes | #TheMarketingTechAlert

Three Things Marketers Must Do To Demonstrate Their Worth - Forbes | #TheMarketingTechAlert | Social Media and Brand Equity | Scoop.it

 

Basic/ Excerpt...

 

One of the biggest disconnects between marketing and senior management is metrics. Marketers focus on intermediate brand-equity measures; senior management focuses on revenue growth. Last year I watched this disconnect play out in the boardroom of a large financial services corporation. While the CMO talked about the importance of creating an iconic marketing campaign, the sales director focused on what generated the most sales. Which do you think had more credibility with the CEO? Marketers need to identify how the intermediate brand-equity measures lead to positive behavioral outcomes if they are to be taken seriously.

 

Above all, marketers need to build bridges to the rest of the organization. Everything a brand does impacts how a customer thinks, feels and acts. If marketing is limited to the domain of “advertising,” it will never be effective. Marketing’s job should be to help build, reinforce and enhance meaningfully different experiences that resonate with customers and drive their predisposition to buy the brand and pay a premium for it.

 

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Via CYDigital
Sophie Pagani AUT's insight:

This article was interesting because they identify 3 important factors to increase brand equity. The first is to identify your brand's difference in the market place. This is greatly important as there is a lot of clutter products and brands need differentiation to become memorable and distinctive which will then increase their brand equity.  The second point made in the article is to focus on positive brand experiences. If they ensure the customer's have a positive experience the will develop a positive view towards the brand and increase the brand equity. The final point is about communicating the overall profit from the marketing as if they are not gaining profit from what they are are promoting, then the business will fail. 

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CYDigital's curator insight, February 12, 2014 7:26 AM

And another 101 article, which is B2C oriented. However, I found value towards the end, and found it somewhat curious that major B2C companies need to learn the lesson of measurability.

seanhoneycombe's curator insight, October 1, 2014 8:04 PM

The three main ideas discussed by Forbes regarding how to create value and equity to your brand are very interesting. I agree with all three stages and particularly enjoyed the idea that "marketers need to build bridges to the rest of the organization" in order to connect with the market and be successful 

Sarah Hollier's curator insight, October 2, 2014 1:00 AM

This article highlights the importance of brand equity, and how everything a brand does influences the customers perception. In order to do this marketers must build bridges with the rest of the organisation.

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New research proves consumer co-creation has a lasting impact on sales

New research proves consumer co-creation has a lasting impact on sales | Social Media and Brand Equity | Scoop.it
Ed Malthouse, Research Director at the IMC Spiegel Research Initiatives, Northwestern University together with research associates Su Jung Kim and Mark Vandenbosch analyzed social media and purchasing data from Canadian company LoyaltyOne’s Air...
Sophie Pagani AUT's insight:

This article is interesting as it emphasises the fact that involvement in the brand via social media creates trust and and positive co-creation between the consumer and company. I agree with this statement as it gives the brand a personal element and helps with adding a personality to the brand. This offers success through marketing not only over social media when the message is consistent and successful.

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Samara Paxton's curator insight, October 2, 2014 6:46 PM

This article proves that customer engagement increases sales, and makes consumers want to use your brand over others. All consumers want is to feel as if the brand they choose to buy from is listening to them and that the product they are recieving is exactly what they wanted or needed. It is easy for a brand to cater to this using Social Media, and including people in things such as this. 

Rescooped by Sophie Pagani AUT from Marketing in Motion
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4 Ways to Measure Your Social Media Success - Forbes

4 Ways to Measure Your Social Media Success - Forbes | Social Media and Brand Equity | Scoop.it

Companies big and small have been hesitant to incorporate social media as part of their IMC strategy. The major reason for this is because most business owners and CEOs have difficulty measuring the success of their investment in social media in terms of ROI. This has resulted in the rise of social media analytics, to allow companies to take advantage of all of the data that is collected on various social media platforms. There are many companies including IBM, Adobe, and Salesforce.com that offer comprehensive solutions to allow companies to improve their social media presence and gather insights from customers in order to improve their performance. However, for most smaller and mid-size companies, these solutions are too expensive. This article gives 5 more affordable solutions to allow companies to more effectively measure their success resulting from the use of different social media. (Josh Climans, 05995759, COMM335-2, social media, analytics, article)


Via Joachim Scholz, PhD
Sophie Pagani AUT's insight:

This is interesting as nowadays social media seems to be a crucial IMC channel however from a business perspective all marketing must be measured some how. Social media can be measured in 'likes' or 'followers' however this may not directly result in sales. What it will do however is build up a more personable side of the brand

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Wenzi Liu's comment, September 26, 2013 6:33 AM
I agree with Cen's insight, i believe that social media is an imoportant tool for marketing nowadays because it is being widely used among consumers. It is a platform for consumers to understand more about a product of a brand either from the company or experiences from other consumers, therefore I believed that brand should use social media effectively because it allows it to communicate with consumers.
Kailee.Zimmerman's curator insight, September 28, 2014 9:18 PM

Social media: This article talks about methods in which can measure the success of using social media as an imc strategy, in order to gain insight into how well it is working and what can be done to improve it further

Lady Lee Cope's curator insight, October 1, 2014 7:14 PM

incorporating social media in businesses is becoming a crucial part of their IMC strategy because most consumers use social media nowadays. But does this actually reflect the actual performance and success of a company? This article talks about the 4 useful tools to measure social media success.

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An Insider Look At Reinventing Brand Equity Tracking

An Insider Look At Reinventing Brand Equity Tracking | Social Media and Brand Equity | Scoop.it

Creating a powerful brand success system for a digital, social, mobile age.

 

Having analyzed the brand equity of hundreds of brands, CPG and non-CPG, US and global, I want to share my thoughts on creating a powerful brand success system for a digital, social, mobile age.

 

First, I want you to imagine 5 segments of consumers based on the strength of their relationship to your brand, using a “romantic relationship” metaphor.

 

Soulmate. Such consumers devote the highest share of their purchases to your brand, on average, usually more than 70%. Your brand has important and unique meaning to them. They shop very differently. They do little research into their upcoming purchases and just want to easily locate your brand while in the store. They are most likely to be the customers who feel a sense of community with others who love your brand as well. Half or more of brand sales will come from this groupGoing Steady: Prefer your brand but regularly buy or consider one or more competitors as well. Still, you win half or more of their purchases. This group accounts for a significant portion of your sales as wellJust dating: you are one of a number of acceptable brands and probably not the most preferred. When shopping, such consumers are likely to be alert for deals and will buy you occasionally.Hey, you look familiar: The consumer has general awareness of your brand and what type of offer it is functionally. You are probably in the consideration set but there is little purchasing and brand experienceShips in the night. You pass each other, not stopping or speaking, with little awareness of presence. These are non-buyers of your brand.

Sophie Pagani AUT's insight:

This article viewed consumer equity in an interesting way which was describing their relationship in a romantic way; soulmate, going steady, just dating, hey you look familiar and ships in the night. Obviously you would want your brand to be a soulmate to customers because of the intense loyalty and relationship they would have with you as a company. The soulmate has the greatest brand equity therefore in this scenario and it gains the greatest brand equity by understanding the consumers needs and wants and looking at the company from their perspective, listening. This article also talks about the relationship in an emotional way which is relevant to how businesses want to seen as by customers. If it i emotional the brand equity is higher. 

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Renee Still's curator insight, September 30, 2014 5:24 PM

Advancements in technology mean that in terms of media strategies such as digital social and mobile marketers are now presented with different options in regards to the brand equity approach that have never been available before.

Rescooped by Sophie Pagani AUT from Modern Management Techniques
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Customer-Based Brand Equity (CBBE) Model - MBA Knowledge Base

Customer-Based Brand Equity (CBBE) Model - MBA Knowledge Base | Social Media and Brand Equity | Scoop.it
The Customer-Based Brand Equity model approaches brand equity from the perspective of the consumer – whether this be an individual or an organization.

Via Abey Francis
Sophie Pagani AUT's insight:

It's important to have a strong brand equity as the message is therefore consistent and the brand is more valuable.This article discusses the consumer based equity model which involves understanding consumer's wants and needs in order to satisfy them. By understanding the brand equity from the customer's point of view they can get a better grasp on the view of their company because after the brand image and perception is not what the business see themselves as, it's what the customers perceive them as that's the reality and one of the main points in the article i agree with is that the power of the brand equity lies in the hands of the customer. Another main point is that there needs to be differentiation in order for the brand to be meaningful to the customer otherwise it is just another common brand.

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Abey Francis's curator insight, February 24, 2014 11:47 PM

Building a strong brand has been shown to provide numerous financial rewards to firms, and has become a top priority for many organizations. In this report, author Keller outlines the Customer-Based Brand Equity (CBBE) model to assist management in their brand-building efforts. According to the model, building a strong brand involves four steps: (1) establishing the proper brand identity, that is, establishing breadth and depth of brand awareness, (2) creating the appropriate brand meaning through strong, favorable, and unique brand associations, (3) eliciting positive, accessible brand responses, and (4) forging brand relationships with customers that are characterized by intense, active loyalty. Achieving these four steps, in turn, involves establishing six brand-building blocks—brand salience, brand performance, brand imagery, brand judgments, brand feelings, and brand resonance.

Renee Still's curator insight, September 30, 2014 5:19 PM

The power of a brand is known through the way a customer has heard about, seen, felt and learnt about a brand. This therefore means that they way a customer perceives a brand plays a key role as the experiences the customer has with the brand controls they way they feel towards a brand.

Michelle Li's curator insight, October 2, 2014 11:24 PM

I think this is useful for marketers to base their strategy on. They need to understand consumers before releasing the product. 

Rescooped by Sophie Pagani AUT from Social Media Strategic (IMC Milestone 3)
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Small Business Social Media Marketing Basics | Strategic Driven

Small Business Social Media Marketing Basics | Strategic Driven | Social Media and Brand Equity | Scoop.it

Technology and the Internet are fundamentally changing the way we do business around the globe. Consumers have unprecedented access to information and to each other. In fact studies show that consumers are far more likely to trust each other over brands. This holds true even if the other consumer is a complete stranger.

 

For any business, especially smaller businesses that want to master the basics of social media marketing, the days of simply creating a Facebook page are over. Effectively reaching today’s mobile consumer requires integrated Social Local and Mobile (SoLoMo) for short. By the time you finish this post I hope you’ll be convinced that avoiding social media is a bigger risk than fully embracing the basics of social media....


Via Jeff Domansky, Liwei Zhou
Sophie Pagani AUT's insight:

Because social media is promoting porducts and companies by people you know such as friends and family, it makes it more reliable and therefore the brand or business is more likely to be trusted. Social media is there for a successful and reliable IMC channel 

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Liwei Zhou's curator insight, May 9, 2013 5:23 AM

I pretty sure it will works in New Zealand, where we live in. As everyone know that a huge number of small and medium size business exist in NZ, no one wish to lose their market share in local market. This article make me surprise by displaying the figure of how many percentages of local people search your business each day by phone. And among them, 36% of people will make a purchase from your business. Social media is far more important than what we thought it should be, especially for small business. Small business should treat it seriously, maybe hire a professional group to operate the media which business use every single day is a smart choice. Image that your potential customers are watching what you have done and what you plan to do every day now, nothing is invisible within a business!

Benny Yang's comment, May 9, 2013 9:48 AM
Of course embrace social media will reduce risk than avoid social media. Especially small businesses have to appreciate it. Think a about it, there are 70% connected with the business, 66% visited the business, 23% told others and 36% of people will make a purchase from your business. How amazing information!
Jieyi Situ's comment, May 9, 2013 5:39 PM
Yes it's true that social media help small business a lot. Face-to-face marketing only focus on a small amount of audience, while social media can spread your brand awareness to lots of people who are potential consumers.
Rescooped by Sophie Pagani AUT from Social Media, SEO, Mobile, Digital Marketing
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The Top 7 Facebook Marketing Tips Every Marketer Should Know

The Top 7 Facebook Marketing Tips Every Marketer Should Know | Social Media and Brand Equity | Scoop.it

74% of marketers now consider Facebook a staple in their lead generation efforts, showing how critical of an element it has become. In this article I want to share 7 tips I have found to be the most effective in my own Facebook marketing.

Read on to discover how you can consistently drive new leads and engagement with your content on Facebook.

 


Via Kamal Bennani
Sophie Pagani AUT's insight:

There are many ways to increase your marketing success on Facebook and they are discussed in this article. Some of these ways include like-gate entry, i.e. you have to like for a competition, providing weekly offers, sharing information on products linking to the page and other social media sites and so on. I think the like-gate is a good idea however it would stop potential customers from liking the page if they knew they had to go through a process where as the bigger fans of the company would happily click through. This would possibly prevent new customers who did not have a high association with the brand

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