Can a potato laborer from Ohio set the fire on a major national brand? OceanSpray found out that was the case. Surprisingly, sifting through the current customers’ contents, identifying the KPI influencing memes and leveraging such content is a tough decision for many of the brands. Corporate culture is the hurdle. Behavioral economics shows us the prevalence of “omission bias” and “loss aversion” in everyday executive lives. Ommission bias says that status quo or not taking risks is always preferred since everyone sees the failure of an action while only a few can see and blame based on the costs of not making any moves. Loss aversion says that the pain in losing is significantly more compared to the pleasure in winning. So what can be done?
C-suite can break this spiral of too much caution and market share loss by instituting a focused metric-driven infrastructure that can capitalize on market-place driven creativity. eBrandValue has the right metrics to identify, flag and leverage the situations that demand creativity.
For example, take the case for Miller, a beer brand. The picture above provides screenshots from the eBrandValue platform switching tab. A long term analysis can identify the major shifts that are underway within the consumer attention space. These trends can be grouped and ordered in terms of its importance. Then, the significant contents and source IDs can be identified using the dissemination tab. Similar to identifying the Idaho labourer Nathan Apodaca, or 420doggface208 across many platforms, many contents can be leveraged and the resulting brand value can be measured and tracked.