Are Authentic Experiences the New Social Economy?
Unveiling the Power of Brand Authenticity in the Age of Social Media
In today's noisy world, where businesses struggle to break through the clutter and grab customers' attention, the importance of earned media and word-of-mouth cannot be
overstated. The key to achieving this lies in creating authentic experiences at every stage of customer interaction. By focusing on building genuine connections and delivering on promises, businesses can harness the power of social media word-of-mouth. In this article, we delve into the concept of authentic social media, explore the factors that led to its rise, and highlight the significance of brand authenticity on social platforms.
Authentic social
media goes beyond polished images and carefully crafted posts. It embodies a sense of genuineness and transparency. It is about capturing real moments, unfiltered and unedited, that evoke a sense of "living in the moment." It means being true to oneself and sharing meaningful content that resonates with the audience. In a world where filters and edits prevail, embracing authenticity on social media can be a refreshing change.
The global COVID-19 pandemic
played a pivotal role in reshaping our perspective on authenticity. As gyms closed and commutes disappeared, people sought solace in the simplicity of life. The constant influx of bad news made perfect social media shots seem trivial in comparison. Furthermore, the rise of Generation Z, with their emphasis on realness and meaningful connections, has influenced the broader population's desire for authenticity in their online interactions.
Brand authenticity
has become a cornerstone of successful brand strategies. In the age of social media, where information spreads rapidly, brands can no longer hide behind false promises or lackluster customer service. Customers now have access to a wealth of information and expect brands to be transparent and genuine. Upholding integrity, delivering on promises, and demonstrating consistent values are crucial elements of building an authentic business.
Social media
platforms have become spaces where people connect with friends, seek inspiration, and stay informed. To truly engage with their audience, brands must understand their motivations and align themselves with their values. The 2022 Sprout Social Index™ highlights that consumers value a brand's alignment with their personal values 74% more than they did in 2021. Consumers want brands to be transparent and take a stand on social issues. By demonstrating authenticity, brands can foster a real
connection with their audience, leading to increased spending and customer loyalty.
To earn social media word-of-mouth, businesses must focus on creating exceptional experiences at every touchpoint of the customer journey. This involves delivering stellar customer service, providing accurate information, and following up post-purchase. The power of word-of-mouth referrals cannot be underestimated. According to Nielsen, 92% of people trust recommendations
from friends and family above all other forms of advertising. By prioritizing customer experiences, businesses can harness the potential of word-of-mouth marketing.
In addition to creating great experiences, businesses must make it easy for customers to share their positive experiences. Customer reviews and testimonials are essential tools for building trust and transparency. Positive reviews serve as social proof, instilling confidence in potential
customers. Moreover, feedback from customers helps businesses identify areas of improvement and adapt their offerings to better serve their audience. By actively encouraging customer feedback and promoting positive experiences, brands can strengthen their reputation.
Employees can be powerful advocates for brand authenticity. Encouraging employees to embody the brand's values and share their positive experiences can amplify the message and foster a culture
of authenticity. When employees become brand ambassadors, their genuine enthusiasm and advocacy resonate with customers, creating an authentic connectionand strengthening the brand's reputation. By empowering employees to be brand advocates, businesses can tap into their unique perspectives and personal experiences, showcasing the human side of the brand and fostering a sense of authenticity.
In the digital era, a brand's online presence is closely tied to
its image and voice. To effectively manage communications and maintain brand authenticity, it is crucial for public relations and social media teams to work together. By aligning their efforts, these teams can ensure that the brand's messaging remains consistent and authentic across various channels. This collaboration can also enhance brand awareness and reputation, as a cohesive and genuine online presence resonates with customers.
Earned media has taken
on a new meaning in the age of social media. With platforms like Twitter and Facebook, businesses have the potential to reach a vast audience without paying for advertising. However, earned media doesn't happen by accident. To earn media attention, businesses must focus on creating exceptional experiences that inspire customers to share their positive experiences organically. By delivering on promises, providing outstanding service, and fostering genuine connections, businesses can generate
word-of-mouth buzz and amplify their reach on social media.
In a world saturated with content and advertising, authenticity has emerged as a powerful currency in the social economy. Consumers, particularly Gen Z, are seeking meaningful connections and genuine experiences from the brands they engage with. By embracing authenticity on social media, businesses can build trust, foster loyalty, and increase their market share. From creating great experiences to
promoting positive customer reviews and encouraging employee advocacy, every aspect of brand communication should prioritize authenticity. In this era of transparency, businesses that prioritize authenticity will be the ones to thrive in the new social economy.
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All the news you need today, in a format that isn't TL:DR, summarized for the busy executive.
Guerlain, the luxury perfume, cosmetics, and skincare brand, has partnered with SeenThis and their media agency Publicis Media Luxe to run an awareness campaign for Abeille Royale in France. The campaign utilized high-quality video and images in IAB formats, taking advantage of SeenThis' proprietary adaptive
streaming technology. This technology allows ads to load instantly in the highest possible quality, adapted to the user's environment, while actively reducing data transfers. The campaign achieved impressive video start and completion rates, as well as significant reductions in data transfer and greenhouse gas emissions compared to conventional technology. Guerlain, known for its focus on sustainability, sees the collaboration as a strategic fit, aligning with their commitment to reducing CO2
emissions. SeenThis, winner of the LVMH Innovation awards in the Media and Brand awareness category, looks forward to expanding their offering to Guerlain and other LVMH Maisons globally.
TheFork, an online restaurant booking service, has released a witty ad created by Droga5 London, aiming to promote the benefits of planning and booking through TheFork. The ad, titled "You're all set," features various scenarios where people haven't adequately
prepared for different events. It opens with a couple displeased at a restaurant filled with rowdy children and a person in a teddy bear outfit taking their order. The voiceover humorously points out that just as you wouldn't go skiing without checking the weather, it's wise to book a restaurant through TheFork for a better dining experience. The ad showcases unfortunate situations resulting from lack of preparation, such as losing a karate match, unknowingly buying a haunted house, and
even facing unintended consequences of AI development. The campaign aims to establish TheFork as the go-to platform for successful restaurant outings and highlights its exclusive advantages and features. Directed by Frank Atlantic, the ad marks Droga5 London's first work for the brand since winning the account.
The first half of the year has seen a surge of investment and buzz in the field of artificial intelligence (AI). Startups have
rushed to label themselves as "AI-enhanced" or "AI-powered," attracting significant funding rounds. Notably, OpenAI garnered attention with its valuation reaching $29 billion and receiving a multibillion-dollar investment from Microsoft. Other AI startups, such as Adept AI and Anthropic, raised substantial funding, reflecting the industry's appetite for AI-related ventures. Major corporations and their venture capital arms, including Google, Nvidia, and Oracle, also invested heavily in
AI, signaling widespread adoption of the technology. Looking ahead, the second half of the year is expected to bring more investments in generative AI platforms, infrastructure, and AI applications in specific verticals. The focus on the infrastructure layer, including chips, enhanced compute, and unique data sets, has attracted investors. Additionally, startups using AI in real-world applications, such as sales and content creation, have gained attention. Various sectors, including software
development, financial services, and healthcare, are expected to benefit from AI advancements. While the industry is excited about the potential of AI, questions remain about its practical use and the potential risks and impact on job elimination. Despite regulatory concerns, AI continues to generate excitement and investment in the venture capital world.
The U.S. Women's Open golf tournament begins at Pebble Beach Golf Links with a record purse of $11 million, making it
the richest tournament in women's golf. The winner of the tournament will take home $2 million, surpassing last year's prize of $1.8 million. The USGA aims to increase the purse to $12 million in the future, which is expected to be easier with the addition of a new presenting sponsor. This year's tournament marks several firsts, including Pebble Beach hosting its first-ever Women's Open and the event being aired in primetime on network television. It will also be the final U.S. Women's
Open for Michelle Wie West, a pioneer in women's golf who has won five LPGA events, including the 2014 U.S. Women's Open.
Meta's Threads, a text-based conversation app for Instagram, made a strong debut with five million sign-ups in just four hours, posing a potential threat to Twitter. Users can log in with their Instagram accounts, making it easier for Meta to transfer data between the two platforms. Threads allows posts of up to 500 characters, including links, photos,
and videos, utilizing an AI-driven feed algorithm similar to TikTok and Reels. However, Threads won't be available in the EU initially due to privacy compliance concerns. Meanwhile, Twitter reinstated displaying tweets to logged-out users after a temporary halt, while Meta aims to leverage discontentment with Twitter and capitalize on their extensive data and monetization capabilities. The battle between the blue bird and the emerging Threads is set to be an intriguing one.
The Federal Trade Commission (FTC) and the U.S. Food and Drug Administration (FDA) have issued cease and desist letters to six companies for marketing edible products containing Delta-8 tetrahydrocannabinol (THC) in packaging that resembles popular snacks and candies appealing to children. The agencies warn that such marketing is illegal and poses health risks, especially to children who may accidentally consume
high doses of THC. The companies, including Delta Munchies, Exclusive Hemp Farms, and The Haunted Vapor Room, have been instructed to stop marketing these products and review their advertising and packaging to ensure the safety of consumers, particularly children. The FTC has requested a response from each company detailing the actions taken to address the concerns within 15 days.
The recent ruling by the EU's top court against Facebook's "legitimate interest" argument for personalized ads is a significant blow to big tech companies' ability to monetize their first-party data in the European Union. The ruling indicates a shift in the digital marketing paradigm and highlights the increasing focus on data privacy and protection. Experts believe that big tech may move towards paid subscriptions and away from
ad-supported platforms. While the ruling currently applies to Germany, similar rules are expected to be imposed across the EU under the upcoming Digital Markets Act, further complicating data collection and use for companies operating in the region. What If Media Group (WIMG), a leading performance marketing firm, has been recognized as one of
the top 10 campaign management solution providers by MarTech Outlook. The prestigious acknowledgment highlights WIMG's dedication to driving exceptional marketing outcomes through innovative and data-driven approaches. The company's proprietary data science technology, ARIA, plays a vital role in its success, utilizing advanced machine learning algorithms and predictive analytics to optimize campaigns and maximize ROI for clients. This recognition solidifies WIMG's position as a thought
leader in campaign management and showcases its commitment to delivering cutting-edge marketing solutions.
Fire TV is focusing on enhancing the user experience by aggregating free linear channels with short-form content on its streaming TV platform. The company has been working to create a user-friendly interface for navigating and engaging with free content, aiming to alleviate choice fatigue and provide a
more immersive living room experience. Fire TV has seen success in driving engagement and monetization through categorized content and targeted advertising opportunities. The platform continues to innovate and optimize features based on user feedback and testing, with the goal of delivering a unique and valuable product for viewers and brands. While specific plans for an ad-supported Prime Video tier were not confirmed, Fire TV is open to integrating new content offerings based on market
needs.
A report by Antenna reveals that more streaming TV users in the United States are opting for lower-priced, ad-supported services compared to a few years ago. The study shows that one-third of customers signing up for new streaming video services are choosing ad-supported tiers, up from 18% in 2018. Comcast's Peacock has the highest percentage of users on its ad-supported plan, followed by Hulu and
Discovery Plus. This trend coincides with the introduction of ad-supported tiers by major streaming platforms, aiming to capture a share of the growing connected TV advertising industry. The report suggests that the marketing dollars invested in ad-supported services align with consumer preferences for affordable options. However, media companies are gradually raising prices for ad-supported plans to generate returns on content and marketing spend. Some companies are also increasing prices for
commercial-free services to encourage customers to switch to ad-supported plans.
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THE RIGHT WAY TO MEASURE MEDIA
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to take immediate action.
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