WIKIBRANDS Chapter 10 Executive Summary

With the accelerated pace of digital time, Wikibrand tools may change quickly, but the business goal will always remain the same: how do you engage your customers, prospects and Influencers across multiple platforms and get people to take action and feel a deeper sense of communication for your brand?

In fact there are over a hundred different tools that play a balanced role in the development of Wikibrands and they can be grouped into four areas:

Brand / Product-Based Design and Attributes (traditional)
Marketing / Media Communication (traditional)
Customer-Brand Interaction
Digital / Social-Enabled Technologies

Traditional product design and branding still needs to drive good valand differentiation, but one may ask the following:

How do my traditional tools change in light of a new marketplace?

To what extent do I need to shift to new tools?

Which specific additions do I add?

Perhaps you can consider this formula that has a lot of credence:

Wikibrand Value=

(Core product/service + Experience) x (Interestingness + Social + Intimacy +
Authenticity + Reputation + Incentives) x (Presence + Value Adds + Advocacy)

The big question of the day is whether the corporate website, the online community or the social network extensions will be the most important to your organization’s success?  If you look at the best engaged brands, they have healthy participation and integration in each of these areas.

The six key considerations for building an effective community are:
Then there comes the big question of community platform such as basic portal, hosted software platform, made-to-order platform or completely customized.

Even though the trend is digital, the traditional mediums of TV, radio, print and outdoor aren’t going anywhere soon.  Eighty four percent of CMO’s spend less than 10 percent on marketing budgets experimenting through digital, collaborative media and nontraditional channels.  This needs to change – new resources, accountability and tools need to be applied.

WIKIBRANDS provides an excellent overview of tools and platforms, especially the elements of building successful communities.

For further information visit: http://wiki-brands.com/