Fast Company Magazine – What’s valuable isn’t mere buzz but what Joachimsthaler calls “social currency.” “There’s more to ‘social’ than social media,” he says. A new study by Vivaldi Partners and Lightspeed Research, which fielded the data, examines more than 60 companies and assesses customers’ brand affiliations, advocacy, and sense of community, among other factors, for how they create true value for the companies, no matter whether it’s online or off. The results reveal some surprising insights about the limits of social media. Most notably, smug, stunt-driven apps, games, and videos generate buzz but little else. So what does work? We combed through Vivaldi’s data to find the most intriguing lessons. Here are the new rules for the game.
NEW YORK (AdAge.com) — Procter & Gamble Co. is leaning heavily on social media and cross-marketing its many brands as it expands to the general public an e-store built heavily around social media, following a four-month test with around 5,000 consumers, the company announced today.
is meant to be a “living learning lab” for e-commerce capabilities, the company said in a statement. Online retailing has been a high priority for P&G Chairman-CEO Bob McDonald since he took the company’s top job last year.
PGestore.com could become the biggest e-commerce venture to date for P&G, which since the late 1990s has often launched new products through direct online sales to consumers; once owned mass-customization online beauty retailer Reflect.com; and also has expanded the multibrand TheEssentials.com online retail site inherited from Gillette.
For the latest venture, P&G is adding touches such as product ratings, shopper feedback forums for users to share tips and links to its Facebook brand fan pages, through which consumers can buy products directly.