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In the social business marketplace, brands that hope to build loyal and growing communities do so most effectively when they demonstrate their core values and allow a community to build and engage around it.
Corporations, consumers, and citizens must begin acting in concert to create a powerful third pillar of social transformation if we hope to meet the social challenges we currently face with equal force. This begins with corporations that choose to alter how they practice capitalism in two ways to serve the greater good.
How well you tell your story determines how well your customers tell your story.
In the coming years, if not sooner, social media will become a powerful tool that consumers will aggressively use to influence business attitudes and force companies into greater social responsibility - and, I suggest, move us towards a more sustainable practice of capitalism.
The framing of how we relate to each other within and across social media platforms will continue to become more sophisticated and nuanced in their expression of how we structure our relationships in our real world lives.
Brands must empower their community to be change agents in their own right. To that end, they need to take on a mentoring role. This means the brand provides the tools, techniques and strategies for their customers to become more effective marketers in achieving their own goals.
There is a growing awareness among brands that in order to participate in conversations that are taking place across social networks, they must join these discussions on the basis of something that is meaningful to their customers.
However, it was the great 18th century social philosophers John Locke, Thomas Hobbes, and Jean-Jacques Rousseau who brought the concept of a social contract between citizens and governments sharply into political thinking, paving the way for popular democracy and constitutional republicanism.
Social media is not an end in itself. It's just another tool to reach people.
It is time for corporate America to become 'the third pillar' of social change in our society, complementing the first two pillars of government and philanthropy. We need the entire private sector to begin committing itself not just to making profits, but to fulfilling higher and larger purposes by contributing to building a better world.
Corporate executives need to re-frame their responsibilities to include the interests of all the stakeholders in society at large; not just shareholders, but also employees, the citizens of our communities, and those who care about the environment.
The social business marketplace is effectively forcing brands to engage with consumers on the basis of something that is meaningful to them. More often than not, this takes the form of some core value that finds expression in a non-profit cause.
What is sure is that technological change is accelerating in all directions and, like children playing in a fountain, consumers are reveling in the experience.
Not since the digital revolution in the early '90s has technology placed such a comprehensive burden on business, employees and individuals to reinvent their business plans, services and products, and themselves to keep pace with the changing marketplace.
Without question, CEOs, executives and employees in companies in the United States and around the world have rallied to face the challenge of a social media marketplace.
The keys to brand success are self-definition, transparency, authenticity and accountability.
More brands are waking up to their social responsibility and doing good work through cause marketing campaigns. Yet too many still go about it the wrong way. I mean 'wrong' in two senses. Firstly, they are marketing ineffectively, and secondly, as a consequence their positive social impact is not maximized.
The new dynamics between brands and consumers, driven by social media, are proving to be a powerful impetus for change.
Like all technology, social media is neutral but is best put to work in the service of building a better world.
By linking with friends and ultimately strangers and building those relationships, social media is reweaving the social fabric that can then be used to scale your non-profit efforts.
There are many individuals, companies and even countries operating in what I call a 'me first' mentality, which is effectively a purely competitive approach to life, treating the planet as if it has infinite resources and pitting one country against another for supremacy.
As more people use social media to tell the story of the future, the wants and needs of more people will be reflected.
Ultimately, it's possible that social media platforms will be designed as templates that the users themselves customize in terms of the best way to express their community and experience of life, and brands will have to simply follow suit.
The leverage and influence social media gives citizens are rapidly spreading into the business world.
As a speaker, business leader or marketer of any type, the onus is now on each of us to become equally capable of communicating very personally with a seemingly endless number of people connected by social technologies.
Done correctly, everyone from individual speakers to large organizations can inspire citizens and customers to spread a message using their own social channels, and in so doing, inspire countless supporters to build their reputation, profits and social impact.
Move your personal investments and retirement funds to socially responsible investment (SRI) funds that support only those corporations that uphold higher standards of behavior. Returns on SRI funds are usually equal to, if not better than, many of the well-known traditional mutual funds.
Executives can no longer hide behind the corporate veil. They need to be accountable for what their companies do, because entities are responsible for socially irresponsible behavior.
The private sector must play a role in ensuring the prosperity and health of the people who comprise its market. It is time for the private sector to become a proactive partner contributing to the efforts of governments and philanthropies.
Today's consumers are eager to become loyal fans of companies that respect purposeful capitalism. They are not opposed to companies making a profit; indeed, they may even be investors in these companies - but at the core, they want more empathic, enlightened corporations that seek a balance between profit and purpose.
We now see numerous examples of brands working together to address issues such as environmental degradations, climate control, pollution, poverty and disease.
The most impactful way consumers can assert their power is to become mindful shoppers, giving their dollars only to socially responsible companies. In today's world of social media and smart phones, this is easy to do.
Technology is teaching us to be human again.
Some critics have challenged what the return on investment is for engagement in social media. Others have complained that the metrics don't exist to demonstrate value.
As we approach each of the great social challenges of our time we must acknowledge that old thinking will not provide the new solutions we need. These solutions will be uncomfortable, hard to sell and risky to execute. But the cost of not doing so is even greater.
A world in which government is burdened by historic debt, philanthropy has limited resources, and the private sector is only interested in its own personal gain is simply unsustainable.
Greed has increasingly become a virtue among Wall Street bankers and corporate CEOs in the U.S. Nowhere else in the world do CEOs insist on receiving compensation as high compared to what their employees earn.
The false separation between living and giving must end.
Too many brands treat social media as a one way, broadcast channel, rather than a two-way dialogue through which emotional storytelling can be transferred.
A social contract is the way out of this dilemma for corporations that want to lead in the 21st century by showing consumers how seriously they take customer loyalty and goodwill.
Your computer needn't be the first thing your see in the morning and the last thing you see at night.
Creating a better world requires teamwork, partnerships, and collaboration, as we need an entire army of companies to work together to build a better world within the next few decades. This means corporations must embrace the benefits of cooperating with one another.
If a brand wants to build social communities, capital and influence, it must become the chief celebrant of its community, not its celebrity. This simple shift in approach unlocks enormous transformative potential for brands.
The way customers relate to brands and how profit is generated has changed so dramatically almost every professional is being challenged to reconsider what they do in order to stay relevant.
Consumers want a better world, not just better widgets.
The currency of universal values make brands innately sharable.
Consumers around the world are more aware of the multiple global crises we face than ever before, thanks to information found on the Internet.
Millions of people are falling out of the middle class into the ranks of the poor.
When something works for you or another brand, ask yourself, 'Why?' Then don't copy it but think about what you can do that's unique to you and better.
Brands must become architects of community.
What today's business reality makes clear is that brands cannot survive in a society that is failing economically, socially, ethically, and morally.
Since most corporate competitors have the same problems with sustainability and social reputation, it's worth trying to solve them together.
Through their own actions, customers can hold companies responsible to higher standards of social responsibility. Through collective action, they can leverage their dollars to combat the force of those investors who myopically pursue profits at the expense of the rest of society.
The role of social media is critical because it helps to spread cognitive dissonance by connecting thought leaders and activists to ordinary citizens rapidly expanding the network of people who become willing to take action.
In fact, I believe the first companies that make an effort to develop an authentic, transparent, and meaningful social contract with their fans and customers will turn out to be the ones that are the most successful in the future. While brands that refuse to make the effort will lose stature and customer loyalty.
Find the human in the technology. The currency marketers trade in has not changed even if the methods have. Emotion is what we exchange.
Gluttony might be innocuous were it not for the fact that gluttons tend to disregard whether their self-serving behaviors harm anyone else. We don't need to look far and wide to find examples of gluttonous behavior, as they are numerous throughout the history of capitalism.
Brands are facing a new competitive landscape in which self-definition, core values and purpose will increasingly define their ability to reach customers that only allow what is meaningful in their lives to pass through their filter.
The simple act of saying 'thank you' is a demonstration of gratitude in response to an experience that was meaningful to a customer or citizen.
We need to develop and disseminate an entirely new paradigm and practice of collaboration that supersedes the traditional silos that have divided governments, philanthropies and private enterprises for decades and replace it with networks of partnerships working together to create a globally prosperous society.
The launch of Google+ apps sends a powerful signal - the personalized web has begun. What this means is that the way information is structured and accessed will turn on the individual, or rather their personal profile which is a composite of all the data collected on the basis of what they have searched for and shared.
The advent of Google+ and the emergence of the personalized web means this is more true than ever. Brands, and their advertising partners, must wake up to this challenge and define themselves with clarity, consistency and authenticity. Otherwise they just might find themselves shouting in a ghost town.
Let's hope brands recognize that the true power of this technology is not its reach but its ability to communicate substance that adds meaning to our lives. Otherwise, brands will be investing in technology that consumers simply won't buy.
For decades, media companies have largely controlled the tools through which consumers were told what to buy, wear or think. Now consumers possess the same ability to produce, distribute and curate content and distribute it to their peers in real time across social media platforms.
Many corporate leaders and employees have the right intentions, but it can be overwhelming when you consider how everything is affected from leadership styles, to organizational structure, to employee engagement, to customer service an marketplace.
There is an overwhelming amount of information available to us all on the web each day, not to mention what is shared with us by our family, friends, fans, and followers. This necessitates the need to filter through all that information and to decide for ourselves where to put our attention.
Corporate America cannot afford to remain silent or passive about the downward spiral we are undergoing. It cannot turn a blind eye to how difficult the experience of life is for so many of their customers.
Integrate purpose into your for-profit business model through a long term commitment to a cause that is aligned with your core values and those of your community.
The evolution of social media into a robust mechanism for social transformation is already visible. Despite many adamant critics who insist that tools like Facebook, Twitter, and YouTube are little more than faddish distractions useful only to exchange trivial information, these critics are being proven wrong time and again.
Social media demands a lot of us on top of our already demanding lives. So let's disconnect as we need to and renew our interest and ourselves.
Perhaps the most powerful lesson other brands can learn from Nike is the need to act in accordance with the reality of the world we live in. In a mutually dependant, intimately connected global community facing several major crises, brands need to operate with an expanded definition of self-interest that includes the greater good.
How much do you as a consumer value a positive experience with a brand or its customer service department? How willing are you to share that with your friends? How inclined are you to let that person know that you're interaction with them was positive?
Ensure your employees understand what your brand stands for so they can be your first line of word-of-mouth advertising.
Brands must have a point of view on that purposeful engagement, whether it's directed towards the environment, poverty, water as a resource or causes such as breast cancer or education. Merely declaring your commitment to a category or cause will not be enough the distinguish your brand sufficiently to see a return on these well-intended efforts.
The companies that make meaningful contributions while also listening to the voices of others are the ones that will genuinely engage their community, who will then go to work for them.
The creative destruction that social media is currently unleashing will change more than technology or the leader board of the Fortune 100. It is driving a qualitative shift in the nature of relationships between brands and their customers.
The most potentially transformative impact of social media is its ability to encourage brands to marry profit and purpose. The reason brands participate is that such outreach earns those companies social currency enabling them to start or participate in conversations that connect them to consumers in meaningful ways.
Refuse to accept the belief that your professional relevance, career success or financial security turns on the next update on the latest technology. Sometimes it's good to put the paddle down and just let the canoe glide.
Work with your competitors when the interest of the community and planet are at stake.
Accept that the moment you buy your latest iPad, iPhone, tablet, app or game it will be promptly followed by a vastly improved and sleeker looking version.
Social media companies must combine their mastery of the latest in real-time, location based or augmented reality technologies in the service of clear and consistent storytelling.
When people align around shared political, social, economic or environmental values, and take collective action, thinking and behavior that compromises the lives of millions of people around the world can truly change.
Define what your brand stands for, its core values and tone of voice, and then communicate consistently in those terms.
When thinking through who to bring together to generate new ideas, it is more effective to combine specialists from very different and unrelated disciplines rather than a variety of people with different skills sets in the same field.
When a positive exchange between a brand and customers becomes quantifiable metrics, it encourages brand to provide better service, customer service to do a better job, and consumers to actively show their gratitude.
The question remains: which brands will commit to creating a private sector pillar of social change, and which will become casualties of their own outdated thinking?
The future of profit is purpose.
Social media is not about the exploitation of technology but service to community.
There is a fundamental shift that social media necessitates in business today - the need to transition from 'Me First' to 'We First' thinking.