14 Dec '11, 10am

Social Media's Impact on Brand Value

Social Media's Impact on Brand Value

In the past, consumers looked to traditional print and television media to report any positive or negative press about companies. Today, however, companies must leverage the power of consumers’ word of mouth communication to help build their brand. People are more inclined to buy a product or service if their friends or others in their ‘network’ give rave recommendations or positive assessments. In contrast, people quickly circulate a negative experience or reaction to a company or product, potentially tainting the brand image indirectly with others at a much faster pace than in the past. With social media, control of a brand’s reputation now lies in the hands of consumers.

Full article: http://www.triplepundit.com/2011/12/social-medias-impact-...

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