- Linking value is especially important for brand management since the most important resources that these engagement actors mobilise to create engagement is the collective brand audience – see for example crowdsourcing and user generated content campaigns. What is Co-creation? - Defines as the ‘function of interaction’. - A customer- dominant focus that “positions the customer in the centre, rather than the brand”. YouTube creators listen to and interact with their fans, resulting in communities than look more like friendships than fanships. - 70% of teenage YouTube subscribers say they relate to YouTube creators more than traditional celebrities. - 4 in 10 millennial subscribers say their favourite creator understands them better than their friend. Are they Authentic? - Authenticity is defined as “what is genuine, unique, real and true” (Ilicin and Webster 2016). - Beverland (2006) influencers are socially constructed interpretations by consumer, based on observations and experiences. - Consumers are seen as co-creators of authenticity. - Djafarova and Rushworth (2017) influencers are “based upon elements such as admiration, association, aspiration or recognition”. - “consumers want to learn more about the celebrity as a person... not just lives, as opposed to the imager…. Conveyed through the traditional media”.
MKTG203 LECTURE 7 What about lack of authenticity? - Trust, people trust social networks, brands, and ads less than ever, they will stop buying from a company that can trust, regardless of the influence promoting its products. - “a brand without trust is just a products, the differences between the two is trust”/ CMO Unilever. - Fraud, Fake followers, like, view counts, clicks, and engagement. - Regulation, or lack thereof - little transparency of social media platforms, influencer dealt etc. The effects are profound: Outcomes: - Diluted brand reputation. - Consumer antagonism - Disenfranchisement, and loss of goodwill. - Value resuction. - Malevolent behaviours. - Retalitory behaviours and anger activism (collective anger shared). - Sabotage. - Very dangerous in social media – contagious nature of the online environment. CONSUMER CO-DISTRACTION OF VALUE
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