Social media offers great opportunities for Responsive Branding™, and that can add a lot of value to your business.
What is Responsive Branding™? The concept of Responsive Branding™ relates to making brand and marketing modifications based on the preferences, comments and reactions of your audience.
If there is one thing that people are not shy about when it comes to social media, it is letting the world know how they feel – about anything. This includes your brand. In his book, Socialnomics, Erik Qualmann notes that, “The beauty of social media is that it will point out your company’s flaws; the key questions is how quickly you address these flaws.”
Responsive branding is the way your company can address these flaws. As you monitor market reactions to your marketing and advertising efforts, you can make modifications in real time in order to appeal to the tastes of the market. Few other platforms offer such a feature, and the benefits can be astronomical.
Real Time Adaptation
Imagine knowing exactly how the market would react to a new marketing initiative before launching it. Sure, there are focus groups, and other conventional marketing and advertising techniques, but these are time-consuming, expensive and may not entirely accurate.
Responsive branding allows your brand to reach out to the market and gain their insights before the official launch of a program. A great, very recent example of this is Yahoo!’s logo redesign.
The search giant has been rebranding since Marissa Mayer took over roughly one year ago. Recently, they decided to present a new logo to the world. But were they going to have a creative team work on it behind closed doors and present what they thought was the best option? Of course not! Why waste money, time and resources doing that when you can let the market tell you which of your options is best for them?
Social Media Polling
As noted above, focus groups are expensive, difficult and not the most accurate. Social media eliminates much of the difficulty associated with focus groups and conventional testing.
Reach out to your audience on social networks. Your fans, followers and subscribers are your market. These are the people that have expressed an interest in your product or service and it is this demographic you should be catering to. Once again, the financial benefits associated with social media polling are significant.
Essentially, the Social Equity derived from Responsive Branding™ is obvious. A slew of new opportunities presents themselves with regards to your overall marketing and branding strategies thanks to your social media efforts.
Does your brand engage in Responsive Branding™? Tell us in the comments below or on Twitter!