Social Media Week Bangalore Day 5
“Can you really build a brand using digital media?”
Thursday 21st February 2014
Time: 5:30 to 6:30 PM
The Leela Palace, Bangalore
Hosted by Prateek Srivastava, Social Media Week’s panel discussion on “Can you really build a brand using digital media?” featured industry stalwarts like Ramesh Srivats, L.K. Gupta, Prateek Srivastava, Nikhil Dey, Harish Bijoor and Bhaskar Choudhuri.
The discussion kicked off with Mr. Ramesh Srivats giving his views on the topic saying that delivering content is not the only way to build a brand, but by actions. The brand can have great content, but it also needs a great product, great service and a great experience.
Mr. L.K. Gupta followed up saying that people are the media and digital media is just a tool. Audience are not contributors and they care about the product first. Also, there is a misconception that building a brand on social media is cheap. However, money and resources have to be spent on social media, just as you do on any other media.
Mr. Harish Bijoor then compared the pre-internet and post-internet era. In the pre-internet era, brands thought before they did. Marketing was organized and systematic and brands were built by word of mouth. In the post internet era, brands act before they think. Media has become an anarchy and many aspects of the brand proposition is not even handled by the marketers anymore. Today, its word of digital.
Mr. Nikhil Dey is of the view that being social is about defending the brand and damage control, whereas Mr. Bhaskar Choudhuri believes that brands are on social media because they have FOMO – fear of missing out. It is actually safer to speak only when you have something worthwhile otherwise people won’t notice.
So can brands be built on the social media?
Well, social media is not about brands talking to people, but more about people talking about brands. Harley Davidson being advertised by the HOG is a good example. However, it goes awry when brands start forcing themselves on the people. Also, a brand is more valued when its presence on social media serves its purpose. Brands should send people what they expect, because people are basically looking for usefulness in an entertaining way.
The key takeaways from the discussion were:
- Digital media can help in adding a brand in the consideration set
- Choose the right metrics for measuring the success of the brand, it might not necessarily be number of likes or percentage of engagement
- Brands could trigger conversations, but then it’s all about getting word of mouth which still happens to be the most effective form of advertising.