Social Power Shift For Brands Warns Propaganda
As a part of Leeds Business Week, strategic brand consultancy, Propaganda, is warning businesses not to underestimate the influence of social and online media on their brand perception and reputation. Companies are finding that they are increasingly accountable to their audiences, and consumers want to engage with brands that are honest.
The Leeds based agency will tell businesses that the balance of power is shifting from brand to consumer, with the prevalence of social media defining this. It is predicted that 75.5% of the population will own a smart phone by 2015. This is also affecting consumer habits, with retail being one sector with particular challenges.
But there is good news for businesses, with the UK being at the forefront of digital media. Propaganda Planning Director, Julian Horberry, will tell delegates at the Leeds Business Week seminar on Wednesday, that UK businesses are no longer constrained by their geographic location.
“ASOS.com has been an online phenomenon in world retail. They are based in London, have their main warehouses in Yorkshire, yet 64% of their sales are overseas. For an Island nation, that really is incredible. It highlights the importance of getting your online proposition right.”
“Whereas only a few years ago, the brand / consumer relationship was relatively one way traffic, businesses are increasingly seeing the value in engaging with their consumers. A well-defined social strategy is vital for any business using online and social media. The chances are – even if you’re not talking about your own business in these channels – others are already talking about you.”
In the fast paced world of retail, some businesses are faring better than others. With Leeds now positioned as the 4th biggest retail destination in the UK, the city and wider region has an opportunity to take a lead on new and innovative omnichannel expertise.
Julian Horberry will be presenting ‘Futureproof Your Brand’ at The Carriageworks from 4pm on Wednesday 25th September.