QUICK READ: I’ve been in Facebook jail three-time and really consider it a badge of honor. I’ve cut back on my Facebook use because frankly, I believe they have way too much power and have lied to us repeatedly.
QUICK READ: Facebook continues to betray its user’s trust to the point that even employees are staging walkouts. How many times will brands allow Facebook to get away with their lies and the belief that they rule the online universe?
QUICK READ: People are stuck inside and the headlines are causing a lot of fear. Brands need to meet this challenge by making people feel good. They need to remind customers that we’re all in this together and that they are giving back to people who have made their products top sellers.
QUICK READ: In the age of social media there is a huge difference between misspeaking and flat out lying just as there is a difference between knowing right from wrong. Too many brands are overreacting to people who believe that political correctness is part of a brand’s identity.
- Casper has highlighted the growing power of social media influencers to make or break brands, naming its own online advocates as one of the risk factors facing its initial public offering.
- Influencer marketing has expanded into an $8bn business as celebrities, experts and other people with large followings on social media platforms charge thousands of dollars to promote products.
- But many influencers have BOTS as followers.
- Influencers have no way to prove they “influence” — neither in quantity nor in quality — and brands have to be very realistic about what they stand to gain from such collaborations, if at all.
KEY THOUGHT: Some big, well-established retailers can take a political stand in a divided consumer base but small retailers in small towns can’t afford to allow politics into their social media feeds..EVER.
HEY NOW: Consumers with an emotional connection to a brand have a 306% higher customer lifetime value, stay with a brand for an average of 5.1 years vs. 3.4 years, and will recommend brands at a much higher rate (71% vs. 45%) according to Retail TouchPoints but they don’t have the emotional bandwidth tor every brand.
SUMMARY: Social media has moved from an engagement model to an advertising model, but too many marketers still believe that their customers want a relationship with their brand.