Singapore brands as famous as LV
Local firms using Facebook and other social media to market themselves are garnering brand recognition on a par with luxury heavyweights like Gucci and Louis Vuitton, a study showed Thursday.
Findings by research firm Firefly Millward Brown showed Singapore retail chains being identified alongside famous international labels as the most recognisable brands.
Social media users in Singapore placed yoghurt chain Sogurt and local grooming firm Juup Nails alongside famous names such as Louis Vuitton, Gucci and Adidas in terms of brand recognition, the study showed.
“Soghurt’s got three outlets in Singapore, how did that get up against Gucci, Sony, who spend millions… every year around the world and have done so for years?” said Nichola Rastrick, managing director of Millward Brown in Singapore.
The company’s Priti Mehra said Soghurt’s social media success was due to its effective use of the popular platform to engage its consumers in a two-way conversation.
“If you go to their Facebook page, you see them engaging with consumers in real time about flavours, about their offers,” she told AFP. “And I think that makes a big difference, that a brand which is so small, without too much spent, gets as much space as a brand which is so big.”
This is called innovation and collaboration and it is not really a new concept. Although it is being adopted much more in Asia than in the U.S.
Engaging your clients/consumers in discussions about what they desire so that you can tailor your products and services to meet their demands. The financial services industry was doing that in the late eighties with tailor made funds to meet the demands of their high net worth clients. Nothing new. It is just packaged differently. Innovation, collaboration, renaissance, engagement, and so forth are all marketing “buzz” words or what I call “bullshit” words. SEO, SEM, SME and the rest of it. Hop on the gravy train with everyone else!
Alot of so-called visionaries are just very talented at re-packaging ideas of old anyway.
Thank you for this post. That’s all I can say. You clearly know what you are doing, you’ve covered so many bases.