Social media is empowering, and brands love to try and leverage that.
Remember, though, that the door swings both ways. HSBC Reviews is a site that has sprung up, pretending to be official, but isn't. It references Twitter Tweets of people who think HSBC is good or bad, along with their written (Tweet) reason. The homepage proclaims a damning indicator:
This is a good example of the power of customers using social media in a damaging way. It also uses ShareThis-like technology to empower the users to share the link around on Facebook, Twitter and Delicious, which can spread like wildfire.
A grab of the screen is below, in case they pull the site (HSBC have a hefty legal team I would guess):
Remember, though, that the door swings both ways. HSBC Reviews is a site that has sprung up, pretending to be official, but isn't. It references Twitter Tweets of people who think HSBC is good or bad, along with their written (Tweet) reason. The homepage proclaims a damning indicator:
This is a good example of the power of customers using social media in a damaging way. It also uses ShareThis-like technology to empower the users to share the link around on Facebook, Twitter and Delicious, which can spread like wildfire.
A grab of the screen is below, in case they pull the site (HSBC have a hefty legal team I would guess):
3 comments:
Social Media Marketing is highly dangerous to brands and must NOT be embraced at all. Too many cooks spoil the broth! If you are 'engaging' in customers who mix business speak along with playful banter and perhaps rude comments, you are making your brand common as muck. Even seeing your brand logo along with potentially harmful comments on a twitter feed, blog, facebook page can tarnish a brand. Seeing customer complaints being posted on twitter is not good. Customer services depts speak to customers one on one without the world watching. Social media, just like the .COM bubble will burst with a catastrophic bang. People who have jumped onto the band wagon and are embracing social media are dancing with danger and damaging their brands. A brand is NOT about engaging with people on twitter. If you inteligently analyse what the MAJORITY of twitter feeds are about - it is merely internet 'GURUS' promoting some dodgy eBook via an equally dodgy looking one page sales-letter website. If you then look at twitter inteligently, you will find that millions of people are all talking millions of different things all at the same time - this causes a catastrophic information overload and achieves nothing. Social media does NOT improve productivity or sales at all. If you really look beneath the covers you will find that employee man/ woman hours are utterly wasted on facebook and twitter. Furthermore the ROI of twitter is no where near as high as the ROI of a traditional advertising campaign. This is because in the LONG -TERM (what really matters) - the brand will be damaged beyond repair. Engaging in social media is like making every one of your clients/ customers a brand manager - and when this happens it is a case of too many cooks spoil the broth or in this case - the brand!
I know I am being very controversial about not agreeing with the masses of people that are embracing social media--however, during the .com boom, the wise sage Warren Buffet disagreed with the masses of investment professionals around the world who were jumping on the bandwagon regarding the dot com boom - Warren Buffet never invested even one dime in the tech stocks of the dot com boom and he predicted the crash and it happened. Now, to give you a bit about my background, I have an elite MBA in Finance & Strategy with International Marketing and have worked for numerous Fortune 500 Co., as well as run an advertising agency. This does NOT make me an expert of any sort, but I do have a deep understanding of business and branding and corporate functions. It appears EVERYONE is trying to get something from nothing—this attitude in society caused the .com BUST—where investment bankers and MBAs and private equity firms were throwing money at any .com startup even if they had NO IDEA of HOW or WHEN they would generate revenue. The same attitude caused the current credit crunch crisis—trying to generate money out of nothing—thin air by living on CREDIT and not knowing HOW to pay it back. Similarly, SMM is free and people are trying to make it generate millions—there is a fundamental flaw in this business model that people cannot see. The main problem with the SMM model is the very nature of the fact that it allows everyone to comment on anything and everything—there is no longer any strategy or coherence in the message as you cannot coherently control millions of individuals with millions of opposing views.
SMM can:
1) Disintegrate a strong internal corporate culture by giving individuals too much power. Governments are elected by people to RUN the people and country to prevent ANARCHY! If you give PEOPLE all the power to have a referendum on EVERYTHING then you ruin the country and cause CHAOS. Similarly, if you give CUSTOMERS all the power to dictate what a brand should be, the multiple opposing views will cause brand anarchy and OPENLY annoy and anger people around the world at a rapid pace. Furthermore, it will cause employees to openly oppose internal corporate culture, openly challenge management strategy, cause openly shared silos and rifts and disintegrate corporate culture, which in turn can affect the brands values by affecting customer service, employee morale etc. This goes a LOT deeper than the internet ‘guru’/ work at home mom/ soccer mom mentality. SMM can damage brands beyond repair.
2) SMM is extremely time consuming and generates trickles of revenue compared to traditional main-stream media. SATELLITE, TV, RADIO, MAJOR NEWS/ MAGS, INTERNET ADS—these are the channels that even though are saturated, they have more consistency and enable more control over your message. The SECOND you hand over your brand message to the masses of un-qualified ‘brand specialists’ AKA the public, then you are going to cause chaos, confusion and mayhem. Imagine if the government said tomorrow, we are resigning and would like YOU the people to run the country! IT would end in utter chaos because people look up to LEADERS, but if you have NO BRAND LEADER and just millions of ‘followers’ trying to dictate what a brand should be—it makes millions of leaders, which causes disintegration and damage.
If you REALLY THINK about WHY in the past the peasants WORSHIPED ROYALTY, or in the present day WHY the masses WORSHIP CELEBRITIES—it is because of the perceived POWER! It is because they are JUST OUT OF REACH, it is because they cannot be touched—BUT—the second you remove that perception and you say, hey WE ARE JUST COMMON LIKE YOU—then the POWER goes out of the window… and with it goes the perception of being ELITE—and when that happens no one will want your brand anymore. If ROLEX advertised on the back of milk cartons no one would pay $5000 for it. THE CHANNEL is just as important as the message—and if you ‘advertise’ using SMM you can damage brand reputation.
Really good comments Anon. I agree that brands rush into anything 'now' - I always challenge a social media brief with "why?". If they can't give me a strong reason in 1 sentence, I advise them to spend their money another way. Not that they listen :)
Simon Mainwaring has just done a great top 10 of old posts about the future of social media - makes good reading :)
simonmainwaring.com
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