I am sure this list is not comprehensive, but here are a few ways social media affect modern-day brand management in my opinion.
1. Public relations > advertising
The influence of advertising is decreasing relative to public relations. Your reputation has always been important, but your advertising once was the sole source or combined with word-of-mouth to shape a consumer’s opinion. Today, your voice is one of many, and rarely the most trusted, as friends and family share their opinions publicly as well. Your relationship with your audiences is more important than a slick 30-second tv spot.
2. It’s all public
The resolution of a situation involving a rogue employee or a poor customer interaction was once limited to the domain of interpersonal communication. A phone conversation or a meeting often closed the crisis. Today, though, that interaction or malfeasance can become a viral video or a Twitter trend, and involve an entire company in the response. And one act can damage a brand in ways it could not years ago.
3. Environmental scanning is more difficult
The minefields for the reputation manager are everywhere. Today’s communicator must keep an eye on message boards, social media, mass media, and more. And damage to your reputation can come at anytime in any forum. Quickly sensing danger (and quickly responding in the appropriate manner) is of critical importance.
4. What you stand for is as important as what you do
Cut down trees to produce your product? Affiliate yourself with a particular political candidate or issue? Be prepared for it to affect the bottom line. More and more consumers are aligning themselves with companies that reflect their beliefs and values. As communicators, we must adjust, communicating effectively our organization’s beliefs and values.
If we do, we will attract consumers who share those beliefs and values.