In my previous post I suggested that too many brands use social media marketing in a tactical rather than strategic way. Now I want to look at how social media can serve best when strategically leveraged to create customer value.
One of McKinsey’s frameworks for improving customer benefits suggests three areas of concentration: functional, process and relationship. Social media, as a mechanism to create customer value, can touch upon all three of these pillars and, by harnessing digital platforms and new ways of interacting with consumers, brands can create more value and as a result, willingness to pay. Read More »
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