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Global Mind Leaders (7 Sept 2016) - "Branding in the Age of Social Media"



" Branding in the Age of Social Media "


In the era of Facebook and YouTube, brand building has become a vexing challenge. This is not how things were supposed to turn out. Viral, buzz, memes, stickiness, and form factor became the lingua franca of branding. But despite all the hoopla, such efforts have had very little payoff.
by Douglas Holt
( Harvard Business Review ).

Idea In Brief

The Context
Companies have sunk billions of dollars into producing content on social media, hoping to build audiences around their brands. But consumers havent shown up.
What Went Wrong
Social media has transformed how culture works. Digital crowds have become powerful cultural innovators - a new phenomenon called crowdculture. They're now so e ective at producing creative entertainment that it's impossible for companies to compete.
The Way Forward
While crowdculture has deflated conventional branding models, it actually makes an alternative model -cultural branding- even more powerful. In this approach, brands collaborate with crowdcultures and champion their ideologies in the marketplace.