WIKIBRANDS Chapter 6 Executive Summary

Designing effective, engaged businesses for today’s marketplace is an essential skill that CEOs, CMOs and their organizations must master.  It takes strategically sound guidance, an aligned company effort and smart relevant tools.  Employee adoption of corporate internal media tools lags far behind the widespread consumer adoption and skyrocketing growth rates on external networking sites like LinkedIn.  Lack of “strategic focus” and “customer focus” were the third and fourth biggest sins in building social media and online communities behind “listening/ responsiveness” and “engaging content”.  Successful Wikibrands are built on solid strategies. They have a core business aim, a brand idea that motivates consumers, and links to an organizational culture and capabilities that can support the idea.  Perhaps most important, successful Wikibrand communities deliver what their prospective members and customers want.  Gartner Research predicts that IT led social media initiatives will only succeed 20 percent of the time and that when these initiatives are led by the business and customer side, success rates more than doubled.
We must be very clear about our Wikibrand engagement, collaboration and community efforts.  Brands too often focus on the value of a community can bring to the company rather than investing in the community itself.

Not having a strategic focus tied to business needs dooms Wikibrand experiments to attacks on credibility and criticism of potential business value generation.

Not having a customer focus that identifies and taps real, deep seated customer wants, leads to apathy and dashed performance when members or fan expectations go unmet.

Not having a resource focus that creates a passionate and accountable group of people willing and able to steer customer engagement efforts leads to eventual “ghost towns” of ambivalence, if not criticism of underlying business motives.

Not having a brand focus leads to a failure to inspire a reaction and generate customer enthusiasm aligned to the rest of your brand and business-building efforts!

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