"...this new reality offers an opportunity for businesses and brands to prosper greatly in this new social and connected world.”
New York, NY (PRWEB) September 24, 2012
The Social Currency 2012 Report has been released by Vivaldi Partners Group, a strategic consulting firm that includes a digital and technology agency known as Fifth Season. In the report, Vivaldi Partners Group explores the new emerging paradigm of how to do business and how to build strong brands in a digitally connected world. The report is based on a global survey with more than 5,000 consumers to understand the impact of technology on over 60 brands across 19 industries. Brands covered in this report include Red Bull, Starbucks, American Express, BMW, Ford, Amazon, Ebay, Nintendo, among many others. The report is an update to the landmark Social Currency 2010 Report that pioneered the concept of Social Currency.
“I am incredibly excited to present the Social Currency 2012 Report. Even over the past two years, social technologies, social media, and social networks have become increasingly important, altering consumer behavior forever and this report reflects this new reality,” says Erich Joachimsthaler, CEO and Founder of Vivaldi Partners Group. “We believe this new reality offers an opportunity for businesses and brands to prosper greatly in this new social and connected world.”
Vivaldi Partners Group defined Social Currency as the degree to which customers share a brand or information about a brand with others. Given that today more than 75% of all online information is generated by individuals, the concept of Social Currency becomes critically important. Companies must leverage this trove of information to build strong businesses and brands.
The report introduces a paradigm-shifting Social Currency model. This new model departs from traditional perspectives of creating competitive advantage. The report also outlines the implications of this new model on industries and categories. It shows how companies can adopt new technologies to challenge existing strategies and business models in their respective industries. It demonstrates how social does not only impact communications or marketing, it also impacts entire industries and categories – each in a different way.
The report explores how social technologies impact the value-generating activities of the firm. It evaluates specific functions, including innovation, finance, design and marketing. It concludes that there is a breakdown in the traditional value chain as social technologies now put customers at the heart of every step in the chain. In the extreme, it argues, this leads to a reconfiguration of the entire value chain.
The report also shows how new social behaviors drive a new model of building brand equity, sales and loyalty and offers the new Social Currency Wheel, an alternative to the traditional brand funnel or customer decision journey. The report evaluates the impact of social behaviors of customers on social currency and three outcomes: consideration, purchase, and loyalty.
Additional information about the Social Currency 2012 Report, Vivaldi Partners Group, and Social Currency 100+ can be found at http://www.vivaldipartners.com.
About Vivaldi Partners Group
Vivaldi Partners Group (http://www.vivaldipartners.com) is a global firm that unlocks innovation and growth opportunities for brands and businesses in a digitally connected world. Vivaldi Partners Group uses its expertise in strategy, innovation, marketing, and organization to identify new demand-based opportunities, build strong brands, create and realize engaging experiences, and lead change through the development of people. Vivaldi Partners Group comprises of Vivaldi Partners, Fifth Season, a digital, design and technology agency, and E-Edge.