WIKIBRANDS Chapter 11 Executive Summary

Customers are no longer faceless targets who have homogeneous tastes according to their age, gender, ethnicity, income or postal code.  They are vibrant pools of individuals who aggregate around interests, aspirations and hobbies.

A brand community is more than a Facebook application, a corporate blog, or a Twitter initiative.

It revolves around a shared interest in a company,
product or brand

It connects companies or brands with customers, Influencers, or other community members

It connects members with each other

It connects companies and members with
nonmembers and prospective members

It upholds rituals and traditions that involve public greetings to recognize fellow brand/community lovers

A Deloitte study of one hundred brand-sponsored online communities showed that most of them fail to achieve their business performance goals.  In addition, only 25 percent achieved a membership of a thousand or more.  The study pointed to a number of reasons for such disappointing results:

Putting the needs of the brand ahead of those of the audience it is trying to attract

Being overly interested in technology at the expense of the community’s social infrastructure

Having understaffed and under skilled custodianship of the community

Focusing on metrics that are unconnected to objectives

Devoting too small a portion of the brand’s marketing budget to the community

Should this discourage you?  No… a well-developed brand community is a better tool for brand advocacy than conventional promotion efforts, because community members feel a high degree of affiliation with the brand and the community.

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