![]() And with the press of a button while you wait for your coffee, you can share those visuals with friends. So, GoPro (instead of investing only in the camera) invested in technology that allows a surfer to go back to the shed in the morning after a few hours on the waves and, as soon as he gets a WiFi connection, automatically upload the film or pictures on a GoPro server or site, which then edits videos down to 15-second short clips or automatically selects the best pictures. And the reason why it is thriving is because they figured out that what they solve for in the life of consumers isn’t just a better picture or video of a stunt on a surfboard or snowboard what they’re really about is enabling consumers to share those pictures and memorable experiences with others. Then, the iPhone came around in 2007 and everybody said that phones already have very good cameras (and GoPro is dead).īut GoPro isn’t dead at all it is actually thriving. Second, there are other camera manufacturers that could produce an equally-good action camera. ![]() First, there are other cameras out there. When GoPro started in 2004, everyone immediately called its demise. One of the examples that I’ve used in some of my writings is GoPro. Even though social currency isn’t the replacement of traditional advertising – if you will – or traditional ways of building brands, it is still a very powerful way of connecting with consumers in a way that also sells the way consumers like to engage. I think there’s a big change currently taking place. Maybe social currency wasn’t that powerful in the beginning and hasn’t been for many years now. If you look at it now, years later, I think I was perhaps a bit naive. We thought, “Wow, this could really be an alternative to building brands in the traditional way through advertising.”Ībout twenty years ago, I wrote a Harvard Business Review article on the subject of brand-building being our advertising, so I was drawn to that. And we saw that that has great brand-building potential. ![]() We call that “social currency.” A brand has social currency when they have consumers not just consume or use the brand, but also talk about it and share information (data) about themselves and the brand. What is “social currency” and what are some tips for brands to harness the power of it?Įrich Joachimsthaler: About 10 years ago, we discovered this pattern where consumers use various forms to share information about brands – they either advocate the brand or simply share information about the brand. 34īrandingmag: In one of your recent articles, you express your opinion that consumers’ willingness to share has great brand-building potential. SEE ALSO: Thought Leadership as Brand Building: Branding Roundtable No. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |