Nick Bennett socialmediatoday
I was invited to talk on a panel at Social Media Week London, on ‘The psychology of love and brands’, hosted by a very intelligent agency, Social Kemistry. It sparked some interesting debate around a psychological approach to social marketing and how to encourage love and loyalty – I’d like to share my thoughts here.
Brand love and loyalty in social can be very profitable
Firstly it’s clear that love and loyalty of a vocal brand army in social, can be both very frugal and ultimately very profitable for a brand.
Retaining a customer is 5x cheaper than acquiring a new customer.
78% of consumers trust social peer recommendation. Only 14% trust adverts
Source: Social Media revolution, Erik Qualman, May 2010
The following is a brief train of thought to look at ‘belonging’ and how it can help to drive brand love in social media.
Social media is a leveler between brand and consumer
Social is the great leveler, providing a single and equal platform for brands and consumers to communicate. It’s leveled the playing field for communication and has important ramifications for your brand perception. Your brand perception is not just your broadcast communication, it’s an aggregation of the 1,000′s of social echos from your customers.
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