Branding in Digital Age
www.hbr.org
SPOTLIGHT ON SOCIAL MEDIA AND THE NEW RULES OF BRANDING
Branding in the Digital Age by David C. Edelman
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You’re Spending Your Money in All the Wrong Places
Included with this full-text Harvard Business Review article: 1 Article Summary Idea in Brief—the core idea 2 Branding in the Digital Age: You’re Spending Your Money in All the Wrong Places
Reprint R1012C
SPOTLIGHT ON SOCIAL MEDIA AND THE NEW RULES OF BRANDING
Branding in the Digital Age
You’re Spending Your Money in All the Wrong Places
Idea in Brief
Consumers today connect with brands in fundamentally new ways, often through media channels that are beyond manufacturers’ and retailers’ control. That means traditional marketing strategies must be redesigned to accord with how brand relationships have changed. Once, a shopper would systematically winnow his brand choices to arrive at a final selection and complete his engagement by making a purchase. Now, relying heavily on digital interactions, he evaluates a shifting array of options and remains engaged with the brand through social media after a purchase. Smart marketers will study this “consumer decision journey” for their products and use the insights they gain to revise strategy, media spend, and organizational roles.
COPYRIGHT © 2010 HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION. ALL RIGHTS RESERVED.
page 1
SPOTLIGHT ON SOCIAL MEDIA AND THE NEW RULES OF BRANDING
Branding in the Digital Age by David C. Edelman
You’re Spending Your Money in All the Wrong Places
COPYRIGHT © 2010 HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION. ALL RIGHTS RESERVED.
The internet has upended how consumers engage with brands. It is transforming the economics of marketing and making obsolete many of the function’s traditional strategies and structures. For marketers, the old way of doing business is unsustainable. Consider this: Not long ago, a car buyer would methodically pare down the available choices until he
SPOTLIGHT ON SOCIAL MEDIA AND THE NEW RULES OF BRANDING
Branding in the Digital Age by David C. Edelman
•
You’re Spending Your Money in All the Wrong Places
Included with this full-text Harvard Business Review article: 1 Article Summary Idea in Brief—the core idea 2 Branding in the Digital Age: You’re Spending Your Money in All the Wrong Places
Reprint R1012C
SPOTLIGHT ON SOCIAL MEDIA AND THE NEW RULES OF BRANDING
Branding in the Digital Age
You’re Spending Your Money in All the Wrong Places
Idea in Brief
Consumers today connect with brands in fundamentally new ways, often through media channels that are beyond manufacturers’ and retailers’ control. That means traditional marketing strategies must be redesigned to accord with how brand relationships have changed. Once, a shopper would systematically winnow his brand choices to arrive at a final selection and complete his engagement by making a purchase. Now, relying heavily on digital interactions, he evaluates a shifting array of options and remains engaged with the brand through social media after a purchase. Smart marketers will study this “consumer decision journey” for their products and use the insights they gain to revise strategy, media spend, and organizational roles.
COPYRIGHT © 2010 HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION. ALL RIGHTS RESERVED.
page 1
SPOTLIGHT ON SOCIAL MEDIA AND THE NEW RULES OF BRANDING
Branding in the Digital Age by David C. Edelman
You’re Spending Your Money in All the Wrong Places
COPYRIGHT © 2010 HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION. ALL RIGHTS RESERVED.
The internet has upended how consumers engage with brands. It is transforming the economics of marketing and making obsolete many of the function’s traditional strategies and structures. For marketers, the old way of doing business is unsustainable. Consider this: Not long ago, a car buyer would methodically pare down the available choices until he