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The Value Proposition and Value Exchange in Social Media

Posted by John Horniblow on Aug 23, 2009 in Consumer Relationship Marketing, General, Social Media Marketing

written for and reposted from http://blog.label.ch

Like good old fashioned direct to consumer communications such as CRM, Social Media Marketing is also about managing the relationships between a brand and its consumers and the consumer expectations of that brand. The shift in the relationship from direct to dialogue is the key difference between the two. In many recent iterations of CRM the shift to dialogue has also become the norm. The principals behind CRM and Social Media Marketing (SMM) are in fact the same, managing and nurturing relationship through a value proposition or value exchange. Whether it’s an actual product, entertainment, services, dialogue or even intangible forms of social currency such as inside information or a virtual asset, consumers expect more from brands today, and they expect it for free. The key to sustaining the relationship is to manage the expectations of the brand in the consumer interaction with the brand. This management needs to be supported beyond the experience of consumption or use to include the experience of consumer services and other brand associations as well.

The brand benefits of CRM and Social Marketing Programs are obvious.  Value exchange creates loyalty and potentially advocacy – By providing a benefit you will be most successful if you also consider the value expectations of your audience. Providing value will ensure your customers continue engaging with your brand in the social landscape. In the sense of making brand advocates of your consumers your exchange might even inspire them to share the value you provide with others. Read more…

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