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                                                                                                                                                                           SOCIAL BRAND VALUE
                                                                                                                                                                           brand value through social interaction -

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                                                                                                                                                                           the Germany ranking 2009
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                                                                                                                                                                  fL                                                             RY                                                                                           TU
                                                                                                                                                                       I                                                    Ck                                                                                                     D
This craving for              The pursuit of community is one of the most basic desires of

community is the
                              mankind. Eversince people have craved for the security and
                              orientation of communities. However in the 19th and 20th


chief misery
                              century, industrialization led to an anonymization of our daily
                              living- and working-environment. Similarly, as traditional
                              communities were on the decline, brands took an ever more

of every man                  important role in the pursuit of personal identity-construc-
                              tion projects of consumers.
                              Recently, mainly due to the rapid diffusion of digital techno-

individually and all          logies, a re-emergence of the community can be observed
                              in the context of consumption practices. These communities
                              are, contrary to their ancient counterparts, based on shared
humanity from the             passions and interests of consumers. Never has it been so
                              easy to identify like-minded people and exchange thoughts

beginning of time.            and ideas about shared interests than it is nowadays.



fyodor M. Dostoyevsky, 1881
Community-
                                                                  Orientation of
Successful marketing leads to unique customer benefits.
Given the altered behavioural patterns of consumers, mar-
keting needs a fresh perspective that takes into account the
dynamic development regarding communities. Marketing
thinking and practice used to be dominated by product spe-
cifications, advertising messages and one-sided top-down
                                                                  Marketing
communication. Today a brand cannot create true added
value without taking social structures into account. The value
of a brand seems to be less and less based on product charac-                                    community
teristics, but rather on the benefits a brand provides in daily                                    focus
usage situations and its relation to others. The Harley David-                         service
son Owners Group (HOG) with over one million members is
                                                                            customer    focus
only one example of how a brand creates value beyond the
product.
                                                                              focus
                                                                  selling
                                                                   focus
                                                  product
                             production            focus




                                                                                                   2000
Marketing orientation           focus




                                                                                       1990
is changing towards the




                                                                             1980
consumer. In the future,
community will play                                               1960
an important role in
                                 1950




determining a brand’s
                                                    1960




success.
Changing Benefits
of a Brand                                                                Although the success of a brand has always been based on
                                                                          social acceptance and social exchange within communities,
                                                                          it has never been easier to facilitate this dialogue among
                                                                          consumers than in the digital world of today. Consider micro-
                                                                          blogging sites, social networks or business communities.
                                                                          what all these platforms and tools have in common is, that
                                                                          they all focus on the individual consumer and his or her con-
                                                                          nections. This development is not limited to the digital world.
                                                                          Also in the offline world, consumer communities seem to
Benefits of a     Company   Community   How the community influences
brand             impact    impact      the benefit                       re-emerge. In the case of Tupperware consumer communities
Orientation/in-                         product ratings and user expe-    are even an crucial aspect of the brand´s business model.
formation                               rience reports reduce one’s own   The traditional benefits of a brand, however, are not lapsing.
                                        search costs
                                                                          what has changed though, is that brands are not under
Trust                                   Trust in like-minded people is    total control of companies anymore. Trust in other commu-
                                        much higher as trust in compa-    nity members for instance is already higher than the trust in
                                        nies and brands                   brands among consumer. Also the information and orienta-
prestige                                The prestige benefit of a brand
                                                                          tion benefits of a brand are increasingly created by the com-
                                        is negotiated within the user     munity and its members. “The brand in the user’s hand” thus
                                        community                         is not a temporary hype but rather an increasingly important
Identity                                The rapid access to information
                                                                          aspect of successful brand management. Just as differenti-
                                        and experiences of other uses,    ation on the basis of product specifications becomes incre-
                                        affect the personal identifica-   asingly difficult, facilitating and managing communication
                                        tion with brands effectively
                                                                          among customer groups becomes increasingly important.
                                                                          The consumer as a trustful believer of advertising messages is
                                                                          dying out.
The Social Brand Value occurs at the interface between the
                                                                  Social Brand Value
consumer and the brand. The Social Brand Value is the value,
which is based on the interactions between users of a certain
brand. Today successful brand management is impossible wi-
thout an understanding of the role a brand plays in the social
context of the consumer. Thus the Social Brand Value is an
important and valuable performance indicator for optimizing
customer-based brand equity.
                                                                                                              g
                                                                                                        mon y.
                                                                                                   ns a       t
                                                                                              ctio mmuni
                                                                                            ra o
                                                                                        nte
                                                                                 ea nd i thin a c
                                                                         xch ang sers wi
                                                                     m e rand u
                                                               s fro      b
                                                        e sult
                          s…                        ch r
                  l ue i                        whi                                                                     ns
                                                                                                                    ctio y.
          an d Va                    ed valu
                                             e,
                                                                                                       cia
                                                                                                                era
                                                                                                           l int ompan
     al Br                      rceiv                                                             m so of the c
Soci                 s : the
                             pe                                                               fro
                                                                                         ults ontrol
           fo r user                                                                 res
                                                                                hich under
                                                                               w ly
                                                                                               c
                                                                           ity
                                                                     ’s equ t direct
                                                              rand h is no
                                                         fab
                                                sha re o nd whic
                                         : the users a
                                   a nies brand
                         rc ompamong
                        fo
Relevance of a Social
 Brand Value ranking                                                                  Monetary brand valuation approaches focus primarily on the
                                                                                      underlying financial performance indicators of a company or
                                                                                      brand. Even though community brands such as facebook et
                                                                                      al yield an enormous brand value from a consumer`s perspec-
                                                                               r-     tive they fail to be recognized in this perspective due to their
                                                                      pu  nde i-      low financial returns. A Social Brand Value Ranking allows to
                                                                  dee mmun
                                                             s, a                     assess brands from a psychographic perspective in their soci-
                                                    nst ruct ithin co e brand         al context and stresses the value of a brand that lies beyond
                                                                        r         s
                                          ci al co nds is w he futu succes
                                       so                      t                      the purchase decision – in the daily life of consumers.
                                  s as g of bra nt and
                                nd nin
                            bra                   me
                   ta nds ial mea anage                                               This study verifies the significant impact of the Social Brand
             ders he soc rand m                                             r in
                                                                        pea se
       e un of t              b                                    t ap
                                                                                      Value on customer loyalty (apart from well-known factors
If on ding           for t
                           he                                                e
                                                              o no ause th l fi-      such as product quality and brand image): On average about
      n
  sta ntrall      y                                      ds d      c         a        15% of customer loyalty are driven by social interaction in
      s ce                                    it y bran ures, be classic etc.)
  tie                                  mun proced ide fromcebook
                                                                                      communities. Brand image building is not sufficient to drive
                                    om        t           s                           usage and preference of a brand anymore. To successfully
                              ng C essmen other ntly (fa
                            ro ss
                       s st                the           cie                          manage a brand today, also means to understand the conver-
                erou rands a lue on y insuffi
           um al b
                                                                              e
                                                                        in th f       sation between consumers and their communities.
         N                       va       nl                       and
          c la ssic e brand e data o                         f a br anding n
                                                                              o
                   th nanc                               eo         t         io
                                                    valu unders e decis
                                                                                      Approximately a third of brand perception is shaped through
          gr asp                                  e
                                           s th        he          as                 interaction within those communities. In spite of this signifi-
                                     grasp tends t e purch                            cant influence, today far less than 10% of brand budgets are
                            dV alue eby ex he pur                                     allocated to measures that stimulate and steer social interac-
                  al Bran nd ther “ after t
           Soci text a value                                                          tion within communities.
      The l con rand
            a          „b
       soci
The structure of
     Social Brand Value
               •	     Community members pro-
                       vide relevant knowledge
                       rund um around brands,
               •	        Reciprocal                               •	  Joint consumption
                          support                                     experiences create
                        in solving                                        emotional ties       The Social Brand Value study examines both big, commer-
                                               ti-
                       problems            rma                                between          cially successful brands and strong community brands (par-
                                        Info
                                                alue                            users,
                                                                                               ticularly online). To calculate the Social Brand Value the five
                                         on al V                         n         •	 Social
                                                                   liato                       dimensions informational value, affiliation value, brand evan-
 •	Communities represent a                                     Affi ue           interaction
   platform to identify                                           Val               between
                                                                                  communi-
                                                                                               gelism, conversational value and identity value were opera-
      with brands
                                                                                ty members     tionalized into 28 items in total. These items were surveyed
•	 Members                                             ial
  express and                                      Soc                       creates feeling   through an representative online survey.
                          tity                            d
                                                    Bran
                                                                       of security and reas-
     live their
                     I den e                               e                     surance
                                                     Valu
  personality
    within the          Valu                                                                   The results: Apple comes out ahead of all examined brands
                                                                                 •	 Com-       in the Social Brand Value study, followed by StudiVZ (biggest
          brand
                                                                Br and          munity
•	 community
                                                                       lism members            German social network) and Google. Established powerhouse
                                                                   nge
          •	        Newsand know-                              eva              promo-         brands such as Coca-Cola or McDonalds find themselves at
                                                       -
                                                  erti                         te their        the bottom of the ranking. Although many of the legacyb-
                      ledge about a
                                           Conv                              brands and
                       brand spread                alue                                        rands possess a high monetary brand value, the study results
                       fast and che-         n al V                       convince others
                         aply among
                                                                     to use/buy it             suggest that they are insufficiently prepared for the new chal-
                                                                 •	 Community mem-
          •	        community mem-
                                                                     bers defend brands        lenges of community interaction.
                    bers, Brands stir con-
                                                                     from external at-
                      versations and stay top-of-mind
                                                                     tacks
The comparison between the Social Brand Value and the                Social Brand
                                                                     Value: Overall
customer’s willingness to pay a premium price draws even
clearer picture. Among the examined brands, Apple mana-
ges it best to play out its perceived Social Brand Value into a
premium price. This shows that it is not only the product and
the brand image which are responsible for a brand’s success.                                                                   33 %

The success of Apple rather stems from the company´s out-                                                                    32 %
standing capabilities in handling and nurturing its user com-                                                                31 %
munity - based on an open and cooperative communication
                                                                                                                        30 %
approach.
                                                                                                                        29 %

In the case of Coca-Cola the consumers` distinct willingness                                                          28 %
to pay a premium price mainly originates from its establis-                                                           28 %
hed brand image. As our results indicate however, Coca-Cola                                                           27 %
seems to create only little value in daily usage situations of its                                                    27 %
German customers. The brand´s ability to cause social value is                                                    26 %
rather limited today. Brands such as Nokia and Starbucks are                                                      26 %
should aim to ramp up their capabilities and efforts to crea-
                                                                                                               24 %
te value the daily life of their customers in order to increase
                                                                                                               24 %
their Social Brand Value.
                                                                                                        21 %

                                                                                                        21 %
Those brands, which are not able to create a high willingness
to pay a premium price, nor offer a high Social Brand Value,                                       20 %

are the clear underdogs of the study. Due to the increasing                               15 %
exchangeability of brands, these brands would be well ad-                                 15 %
vised to increase their social value, because it is the Social                     13 %
Brand Value which more and more is responsible for the
                                                                       0%   10 %                 20 %                 30 %
customer’s willingness to pay a premium price.
Social Brand Value
and price premium                                                 Brands with a high social value, which is                      Brands with a high social value, which
                                                                 currently not commercialized through an                         also leads to an increased willingness to
The 5 key insights form the study:                                increased willingness to pay a premium                         pay a premium price among customers
                                                                  price (e.g. due to exchangeability on the                      (however price premium is not only
1. Besides traditional factors such as product quality and                                        Internet)                      based on the Social Brand Value).
   brand image, a significant part of customer loyalty is exp-
   lained by the Social Brand Value (about 15 %)                                                                                                    winner
2. In terms of offering true customer value through social in-                                                                                       of the
   teraction, Apple, Google and studiVZ outperform all other                                                                                         study
                                                                                                                                              Apple




                                                                                          high
   brands in the study                                                                                    studiVZ
                                                                                                                      Google
3. Apple and Tupperware are two high performing product                                                                                   firefox




                                                                         Social Brand Value
                                                                                                                    Tupperware
   brands in the Social Brand Value ranking. from the very                                           wikipedia
                                                                                                                      facebook
                                                                                                           Xing
   beginning their business model was based on a strong                                                             Amazon
                                                                                                                                      Microsoft

   user community and social interaction. This pays off!                                                             Twitter

4. On the other hand, an online-only business model does                                           MySpace
                                                                                                                      eBay
   not guarantee high levels of social value as the example                                                          flickr                     Starbucks
   YouTube demonstrates. The mere distribution of content                                                                             Nokia




                                                                     low
   to a large and anonymous group of users does not auto-
   matically lead to community benefits.                                                         Loser
                                                                                                                                                Coca Cola
5. Even though the social value of a brand originates from in-                                   of the             McDonalds
                                                                                                    YouTube
   teractions within the user community, companies do have                                       study
   the chance to actively facilitate and manage the creation                                              low                              high
   of Social Brand Value.                                                                                         price premium *
                                                                  * Readiness to pay more for the respective brand than for an otherwise identical no name product

                                                                 Brands with a low social value, for which                       Brands that can rely on a high willingness to
                                                                 the user is not willing to pay a premium                        pay a premium price, which is not based on
                                                                                                     price.                      the brand’s social value. To maintain this, the-
                                                                                                                                 se brands are well advised to increase their
                                                                                                                                 social value in the future.
facts & figures
about the Study


Study Background
The increased networking and social interaction of consu-
mers on the internet has yielded new communities around
brands. The goal of this study is to identify, examine and
asssess the resulting value of this development – both from a
consumer and company perspective. The study thereby aims
to identify specific success factors for effective brand ma-
nagement in community contexts

Research Design
•	 Online survey (representative)
•	 Total number of respondents (sample size): 1.301
•	 Number of sampled brands: 19
•	 Region: Deutschland
•	 Survey period: September 2009
Autoren

Hyve AG, München                                                             Vivaldi partners, München
                     Dr. Johann füller ist Vorstand der HYVE AG in Mün-                            Dr. Markus pfeiffer ist Managing Director der Vivaldi
                     chen, Research Affiliate am MIT – Massachusetts                               partners Büros in München und in London.
                     Institute of Technology in Cambridge und Habilitand                           In rund zehn Jahren Beratungstätigkeit hat er sich
                     am Institut für Strategisches Management, Marketing                           auf die Entwicklung von wachstumsorientierten Mar-
                     und Tourismus an der Universität Innsbruck. Er hält                           kenstrategien spezialisiert und betreut klienten im
                     regelmäßig Vorträge und Vorlesungen zu Open                                   deutschsprachigen Raum und eine Reihe internatio-
                     Innovation, Online Communities, Innovationsmanage-                            naler klienten. Er spricht regelmäßig auf internatio-
                     ment und virtueller kundenintegration in die pro-                             nalen Marketingkongressen, ist Gastprofessor an der
duktentwicklung. Im Anschluss an seine Dissertation zum Thema “Com-          Solvay Business School in Brüssel und hat mehr als 20 Bücher und Artikel
munity Based Innovations“ arbeitete Johann zwei Jahre als Assistant          zu verschiedenen Themen des Marketings veröffentlicht. In vielen Jahren
professor an der Universität Innsbruck. Zuvor war er 3 Jahre als Unterneh-   Strategie- und Markenberatung hat er über 40 klienten bei komplexen
mensberater bei pricewaterhouseCoopers im Bereich Strategic Change           Marketing- und Markenstrategieprojekten betreut. Er verfügt über weit-
tätig. weitere Erfahrungen sammelte Dr. füller bei Mckinsey & Comp.,         reichendes wissen bei der Entwicklung von kreativen und faktenbasierten
Siemens und Allied Signal. Im Zuge seiner forschung veröffentlichte er       Lösungen – der Entwicklung von Markenstrategien, Optimierung von
mehr als 60 Artikel in unterschiedlichen Zeitschriften. Dazu zählen das      Markenarchitekturen, Entwicklung von Brand Extensions und Markencont-
Journal of product Innovation Management, das Journal of Business            rolling.
Research, das Journal of Travel Research, der Harvard Business Manager       Bevor sich Dr. pfeiffer Vivaldi partners anschloss, war er als Marketingbera-
und Technovation. Im Rahmen seiner Tätigkeit als Vorstand der Hyve AG        ter für verschiedene deutsche und internationale klienten aus der konsum-
begleitet Johann seit mehr als 8 Jahren namhafte internationale Unter-       güter-, Informations-, kommunikations- und Unterhaltungsindustrie (z.B.
nehmen bei der Entwicklung kundenzentrierter Innovationen.                   philip Morris, Burda) tätig. Als Geschäftsführer eines deutschen Beratungs-
                                                                             unternehmens war er für den Ausbau des Neugeschäfts und die Betreuung
kontakt: johann.fueller@hyve.de oder
                                                                             der Hauptklienten verantwortlich.
jfueller@mit.edu
                                                                             kontakt: mpfeiffer@vivaldipartners.com
Autoren                                                                     Vivaldi partners, München
                                                                                                 Tobias Honer ist als Senior Consultant im Münchner
                                                                                                 Büro von Vivaldi partners tätig. Er arbeitet schwerpunkt-
                                                                                                 mäßig für nationale und internationale kunden im
                                                                                                 Dienstleistungs-, Technologie- und fMCG-Sektor. Seine
                                                                                                 Expertise bringt er inbesondere bei Entwicklung von
                                                                                                 Marken- und wachstumsstrategien, sowie bei frage-
                                                                                                 stelllungen des Innovations- und portfoliomanage-
                                                                                                 ments ein. Zudem beschäftigt er sich intensiv mit der
                                                                             Entwicklung von Strategien im Online- und Social-Media Bereich. Tobias
                                                                             Honer verfügt über umfangreiche projekterfahrung in quantitativer und
                                                                             qualitativer Marktforschung und übernahm vor seiner Tätigkeit bei Vivaldi
Vivaldi partners, München                                                    partners diverse Marketingfunktionen u.a. bei Booz & Co., der Lufthansa AG
                    Dr. Markus Zinnbauer berät als Director im Münchner      und dem fraunhofer Institut. Sein Studium der Betriebwirtschaftslehre mit
                    Büro von Vivaldi partners vor allem klienten aus         den Schwerpunkten strategisches Marketing und Distributionspolitik hat er
                    Dienstleistungs-, Technologie- und fMCG-Unterneh-        in pforzheim und Sydney absolviert.
                    men. Besondere fachliche Expertise bringt er in den
                                                                             kontakt: thoner@vivaldipartners.com
                    Bereichen Markenstrategie und -controlling, Budget-
                    planung und -effizienz, quantitativen Methoden und
                    Social-Media-Strategien ein. Vor seiner Tätigkeit bei
                                                                             Leopold-franzens Universität, Innsbruck
                    Vivaldi partners sammelte er langjährige Erfahrung als                       Roland Schroll ist Doktoratsstudent und wissenschaftli-
projektmanager einer Münchner Beratung und unterstützte internationa-                            cher Mitarbeiter am Institut für Strategisches Manage-
le sowie mittelständische Unternehmen bei strategischen Marketingthe-                            ment, Marketing und Tourismus der Leopold-franzens
men sowie bei finanziellen und organisationalen problemstellungen.                               Universität Innsbruck. Im Rahmen seines Doktoratsstu-
Markus Zinnbauer hat sein Betriebswirtschaftsstudium an der Ludwig-                              diums beschäftigt er sich mit Themen wie Brand Com-
Maximilians-Universität München und dem M.I.T., Cambridge, absolviert                            munities, user-generated brands sowie dem Einfluss
und am Institut für Marktorientierte Unternehmensführung der Ludwig-                             von Communities auf Marken. Zuvor studierte Roland
Maximilians-Universität promoviert. Er ist regelmäßiger Referent auf                             Schroll wirtschaftsinformatik sowie Strategisches
konferenzen und Autor in nationalen und internationalen fachzeitschrif-      Management mit Spezialisierung auf Strategie und Branding. praktische
ten.                                                                         Erfahrung sammelte er unter anderem im In- und Ausland bei firmen wie
                                                                             Siemens, Hilti und Vivladi partners.
kontakt: mzinnbauer@vivaldipartners.com
                                                                             kontakt: roland.schroll@student.uibk.ac.at
Impressum

©2009, HYVE AG, Vivaldi partners

Herausgeber
HYVE AG
Schellingstr. 45
80799 München
www.hyve.de
Mail: info@hyve.de

Vivaldi partners
Burgstr. 8
80331 München
www.vivaldipartners.com
Mail: munich@vivaldipartners.com

in kooperation mit MIT und UNIVERSITÄT Innsbruck

Layout & Grafik
Melanie Eckl, HYVE AG

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Social Brand Value

  • 1. fL IC kR SOCIAL BRAND VALUE brand value through social interaction - fA C the Germany ranking 2009 EBO Ok k OO EB AC O Nf AZ AM R E ppL fLICk COC RA Ck fLI ACO BE fA k CEBO OO CO L A Ok w EB fAC LAN IkIpE DIA CO C A OkI VZ AfA fA DI CE TU E B AY CEB BO S AY Ok OO EB XING fL BE kYO IC TU kR U UTU Ap YO pL Ok BE E BO RE CE wA fA ER NG p XI Up NG kT fA OO CE B CE BO fA Ok AY EB YO ER GOO U IT T GLE TU w App ET DIVZ BE UB LE N EB OkIA RE ppERwA AY MCD k STU ONA OSOfTTU DI A fIR S AY MICR TU LD‘S Ef IT TER EB IpE DI YO U OX TUB YOU TUBET w Ik VZ BOO E Tw CEBOO k w A M IT TE L A NOkIA fA Ok AZ R EB COCACO BO ON AC E AY CE fA fA fA C BE ON f CE EB BO TU OO Ok OU kS MA Z fL RY TU I Ck D
  • 2. This craving for The pursuit of community is one of the most basic desires of community is the mankind. Eversince people have craved for the security and orientation of communities. However in the 19th and 20th chief misery century, industrialization led to an anonymization of our daily living- and working-environment. Similarly, as traditional communities were on the decline, brands took an ever more of every man important role in the pursuit of personal identity-construc- tion projects of consumers. Recently, mainly due to the rapid diffusion of digital techno- individually and all logies, a re-emergence of the community can be observed in the context of consumption practices. These communities are, contrary to their ancient counterparts, based on shared humanity from the passions and interests of consumers. Never has it been so easy to identify like-minded people and exchange thoughts beginning of time. and ideas about shared interests than it is nowadays. fyodor M. Dostoyevsky, 1881
  • 3. Community- Orientation of Successful marketing leads to unique customer benefits. Given the altered behavioural patterns of consumers, mar- keting needs a fresh perspective that takes into account the dynamic development regarding communities. Marketing thinking and practice used to be dominated by product spe- cifications, advertising messages and one-sided top-down Marketing communication. Today a brand cannot create true added value without taking social structures into account. The value of a brand seems to be less and less based on product charac- community teristics, but rather on the benefits a brand provides in daily focus usage situations and its relation to others. The Harley David- service son Owners Group (HOG) with over one million members is customer focus only one example of how a brand creates value beyond the product. focus selling focus product production focus 2000 Marketing orientation focus 1990 is changing towards the 1980 consumer. In the future, community will play 1960 an important role in 1950 determining a brand’s 1960 success.
  • 4. Changing Benefits of a Brand Although the success of a brand has always been based on social acceptance and social exchange within communities, it has never been easier to facilitate this dialogue among consumers than in the digital world of today. Consider micro- blogging sites, social networks or business communities. what all these platforms and tools have in common is, that they all focus on the individual consumer and his or her con- nections. This development is not limited to the digital world. Also in the offline world, consumer communities seem to Benefits of a Company Community How the community influences brand impact impact the benefit re-emerge. In the case of Tupperware consumer communities Orientation/in- product ratings and user expe- are even an crucial aspect of the brand´s business model. formation rience reports reduce one’s own The traditional benefits of a brand, however, are not lapsing. search costs what has changed though, is that brands are not under Trust Trust in like-minded people is total control of companies anymore. Trust in other commu- much higher as trust in compa- nity members for instance is already higher than the trust in nies and brands brands among consumer. Also the information and orienta- prestige The prestige benefit of a brand tion benefits of a brand are increasingly created by the com- is negotiated within the user munity and its members. “The brand in the user’s hand” thus community is not a temporary hype but rather an increasingly important Identity The rapid access to information aspect of successful brand management. Just as differenti- and experiences of other uses, ation on the basis of product specifications becomes incre- affect the personal identifica- asingly difficult, facilitating and managing communication tion with brands effectively among customer groups becomes increasingly important. The consumer as a trustful believer of advertising messages is dying out.
  • 5. The Social Brand Value occurs at the interface between the Social Brand Value consumer and the brand. The Social Brand Value is the value, which is based on the interactions between users of a certain brand. Today successful brand management is impossible wi- thout an understanding of the role a brand plays in the social context of the consumer. Thus the Social Brand Value is an important and valuable performance indicator for optimizing customer-based brand equity. g mon y. ns a t ctio mmuni ra o nte ea nd i thin a c xch ang sers wi m e rand u s fro b e sult s… ch r l ue i whi ns ctio y. an d Va ed valu e, cia era l int ompan al Br rceiv m so of the c Soci s : the pe fro ults ontrol fo r user res hich under w ly c ity ’s equ t direct rand h is no fab sha re o nd whic : the users a a nies brand rc ompamong fo
  • 6. Relevance of a Social Brand Value ranking Monetary brand valuation approaches focus primarily on the underlying financial performance indicators of a company or brand. Even though community brands such as facebook et al yield an enormous brand value from a consumer`s perspec- r- tive they fail to be recognized in this perspective due to their pu nde i- low financial returns. A Social Brand Value Ranking allows to dee mmun s, a assess brands from a psychographic perspective in their soci- nst ruct ithin co e brand al context and stresses the value of a brand that lies beyond r s ci al co nds is w he futu succes so t the purchase decision – in the daily life of consumers. s as g of bra nt and nd nin bra me ta nds ial mea anage This study verifies the significant impact of the Social Brand ders he soc rand m r in pea se e un of t b t ap Value on customer loyalty (apart from well-known factors If on ding for t he e o no ause th l fi- such as product quality and brand image): On average about n sta ntrall y ds d c a 15% of customer loyalty are driven by social interaction in s ce it y bran ures, be classic etc.) tie mun proced ide fromcebook communities. Brand image building is not sufficient to drive om t s usage and preference of a brand anymore. To successfully ng C essmen other ntly (fa ro ss s st the cie manage a brand today, also means to understand the conver- erou rands a lue on y insuffi um al b e in th f sation between consumers and their communities. N va nl and c la ssic e brand e data o f a br anding n o th nanc eo t io valu unders e decis Approximately a third of brand perception is shaped through gr asp e s th he as interaction within those communities. In spite of this signifi- grasp tends t e purch cant influence, today far less than 10% of brand budgets are dV alue eby ex he pur allocated to measures that stimulate and steer social interac- al Bran nd ther “ after t Soci text a value tion within communities. The l con rand a „b soci
  • 7. The structure of Social Brand Value • Community members pro- vide relevant knowledge rund um around brands, • Reciprocal • Joint consumption support experiences create in solving emotional ties The Social Brand Value study examines both big, commer- ti- problems rma between cially successful brands and strong community brands (par- Info alue users, ticularly online). To calculate the Social Brand Value the five on al V n • Social liato dimensions informational value, affiliation value, brand evan- • Communities represent a Affi ue interaction platform to identify Val between communi- gelism, conversational value and identity value were opera- with brands ty members tionalized into 28 items in total. These items were surveyed • Members ial express and Soc creates feeling through an representative online survey. tity d Bran of security and reas- live their I den e e surance Valu personality within the Valu The results: Apple comes out ahead of all examined brands • Com- in the Social Brand Value study, followed by StudiVZ (biggest brand Br and munity • community lism members German social network) and Google. Established powerhouse nge • Newsand know- eva promo- brands such as Coca-Cola or McDonalds find themselves at - erti te their the bottom of the ranking. Although many of the legacyb- ledge about a Conv brands and brand spread alue rands possess a high monetary brand value, the study results fast and che- n al V convince others aply among to use/buy it suggest that they are insufficiently prepared for the new chal- • Community mem- • community mem- bers defend brands lenges of community interaction. bers, Brands stir con- from external at- versations and stay top-of-mind tacks
  • 8. The comparison between the Social Brand Value and the Social Brand Value: Overall customer’s willingness to pay a premium price draws even clearer picture. Among the examined brands, Apple mana- ges it best to play out its perceived Social Brand Value into a premium price. This shows that it is not only the product and the brand image which are responsible for a brand’s success. 33 % The success of Apple rather stems from the company´s out- 32 % standing capabilities in handling and nurturing its user com- 31 % munity - based on an open and cooperative communication 30 % approach. 29 % In the case of Coca-Cola the consumers` distinct willingness 28 % to pay a premium price mainly originates from its establis- 28 % hed brand image. As our results indicate however, Coca-Cola 27 % seems to create only little value in daily usage situations of its 27 % German customers. The brand´s ability to cause social value is 26 % rather limited today. Brands such as Nokia and Starbucks are 26 % should aim to ramp up their capabilities and efforts to crea- 24 % te value the daily life of their customers in order to increase 24 % their Social Brand Value. 21 % 21 % Those brands, which are not able to create a high willingness to pay a premium price, nor offer a high Social Brand Value, 20 % are the clear underdogs of the study. Due to the increasing 15 % exchangeability of brands, these brands would be well ad- 15 % vised to increase their social value, because it is the Social 13 % Brand Value which more and more is responsible for the 0% 10 % 20 % 30 % customer’s willingness to pay a premium price.
  • 9. Social Brand Value and price premium Brands with a high social value, which is Brands with a high social value, which currently not commercialized through an also leads to an increased willingness to The 5 key insights form the study: increased willingness to pay a premium pay a premium price among customers price (e.g. due to exchangeability on the (however price premium is not only 1. Besides traditional factors such as product quality and Internet) based on the Social Brand Value). brand image, a significant part of customer loyalty is exp- lained by the Social Brand Value (about 15 %) winner 2. In terms of offering true customer value through social in- of the teraction, Apple, Google and studiVZ outperform all other study Apple high brands in the study studiVZ Google 3. Apple and Tupperware are two high performing product firefox Social Brand Value Tupperware brands in the Social Brand Value ranking. from the very wikipedia facebook Xing beginning their business model was based on a strong Amazon Microsoft user community and social interaction. This pays off! Twitter 4. On the other hand, an online-only business model does MySpace eBay not guarantee high levels of social value as the example flickr Starbucks YouTube demonstrates. The mere distribution of content Nokia low to a large and anonymous group of users does not auto- matically lead to community benefits. Loser Coca Cola 5. Even though the social value of a brand originates from in- of the McDonalds YouTube teractions within the user community, companies do have study the chance to actively facilitate and manage the creation low high of Social Brand Value. price premium * * Readiness to pay more for the respective brand than for an otherwise identical no name product Brands with a low social value, for which Brands that can rely on a high willingness to the user is not willing to pay a premium pay a premium price, which is not based on price. the brand’s social value. To maintain this, the- se brands are well advised to increase their social value in the future.
  • 10. facts & figures about the Study Study Background The increased networking and social interaction of consu- mers on the internet has yielded new communities around brands. The goal of this study is to identify, examine and asssess the resulting value of this development – both from a consumer and company perspective. The study thereby aims to identify specific success factors for effective brand ma- nagement in community contexts Research Design • Online survey (representative) • Total number of respondents (sample size): 1.301 • Number of sampled brands: 19 • Region: Deutschland • Survey period: September 2009
  • 11. Autoren Hyve AG, München Vivaldi partners, München Dr. Johann füller ist Vorstand der HYVE AG in Mün- Dr. Markus pfeiffer ist Managing Director der Vivaldi chen, Research Affiliate am MIT – Massachusetts partners Büros in München und in London. Institute of Technology in Cambridge und Habilitand In rund zehn Jahren Beratungstätigkeit hat er sich am Institut für Strategisches Management, Marketing auf die Entwicklung von wachstumsorientierten Mar- und Tourismus an der Universität Innsbruck. Er hält kenstrategien spezialisiert und betreut klienten im regelmäßig Vorträge und Vorlesungen zu Open deutschsprachigen Raum und eine Reihe internatio- Innovation, Online Communities, Innovationsmanage- naler klienten. Er spricht regelmäßig auf internatio- ment und virtueller kundenintegration in die pro- nalen Marketingkongressen, ist Gastprofessor an der duktentwicklung. Im Anschluss an seine Dissertation zum Thema “Com- Solvay Business School in Brüssel und hat mehr als 20 Bücher und Artikel munity Based Innovations“ arbeitete Johann zwei Jahre als Assistant zu verschiedenen Themen des Marketings veröffentlicht. In vielen Jahren professor an der Universität Innsbruck. Zuvor war er 3 Jahre als Unterneh- Strategie- und Markenberatung hat er über 40 klienten bei komplexen mensberater bei pricewaterhouseCoopers im Bereich Strategic Change Marketing- und Markenstrategieprojekten betreut. Er verfügt über weit- tätig. weitere Erfahrungen sammelte Dr. füller bei Mckinsey & Comp., reichendes wissen bei der Entwicklung von kreativen und faktenbasierten Siemens und Allied Signal. Im Zuge seiner forschung veröffentlichte er Lösungen – der Entwicklung von Markenstrategien, Optimierung von mehr als 60 Artikel in unterschiedlichen Zeitschriften. Dazu zählen das Markenarchitekturen, Entwicklung von Brand Extensions und Markencont- Journal of product Innovation Management, das Journal of Business rolling. Research, das Journal of Travel Research, der Harvard Business Manager Bevor sich Dr. pfeiffer Vivaldi partners anschloss, war er als Marketingbera- und Technovation. Im Rahmen seiner Tätigkeit als Vorstand der Hyve AG ter für verschiedene deutsche und internationale klienten aus der konsum- begleitet Johann seit mehr als 8 Jahren namhafte internationale Unter- güter-, Informations-, kommunikations- und Unterhaltungsindustrie (z.B. nehmen bei der Entwicklung kundenzentrierter Innovationen. philip Morris, Burda) tätig. Als Geschäftsführer eines deutschen Beratungs- unternehmens war er für den Ausbau des Neugeschäfts und die Betreuung kontakt: johann.fueller@hyve.de oder der Hauptklienten verantwortlich. jfueller@mit.edu kontakt: mpfeiffer@vivaldipartners.com
  • 12. Autoren Vivaldi partners, München Tobias Honer ist als Senior Consultant im Münchner Büro von Vivaldi partners tätig. Er arbeitet schwerpunkt- mäßig für nationale und internationale kunden im Dienstleistungs-, Technologie- und fMCG-Sektor. Seine Expertise bringt er inbesondere bei Entwicklung von Marken- und wachstumsstrategien, sowie bei frage- stelllungen des Innovations- und portfoliomanage- ments ein. Zudem beschäftigt er sich intensiv mit der Entwicklung von Strategien im Online- und Social-Media Bereich. Tobias Honer verfügt über umfangreiche projekterfahrung in quantitativer und qualitativer Marktforschung und übernahm vor seiner Tätigkeit bei Vivaldi Vivaldi partners, München partners diverse Marketingfunktionen u.a. bei Booz & Co., der Lufthansa AG Dr. Markus Zinnbauer berät als Director im Münchner und dem fraunhofer Institut. Sein Studium der Betriebwirtschaftslehre mit Büro von Vivaldi partners vor allem klienten aus den Schwerpunkten strategisches Marketing und Distributionspolitik hat er Dienstleistungs-, Technologie- und fMCG-Unterneh- in pforzheim und Sydney absolviert. men. Besondere fachliche Expertise bringt er in den kontakt: thoner@vivaldipartners.com Bereichen Markenstrategie und -controlling, Budget- planung und -effizienz, quantitativen Methoden und Social-Media-Strategien ein. Vor seiner Tätigkeit bei Leopold-franzens Universität, Innsbruck Vivaldi partners sammelte er langjährige Erfahrung als Roland Schroll ist Doktoratsstudent und wissenschaftli- projektmanager einer Münchner Beratung und unterstützte internationa- cher Mitarbeiter am Institut für Strategisches Manage- le sowie mittelständische Unternehmen bei strategischen Marketingthe- ment, Marketing und Tourismus der Leopold-franzens men sowie bei finanziellen und organisationalen problemstellungen. Universität Innsbruck. Im Rahmen seines Doktoratsstu- Markus Zinnbauer hat sein Betriebswirtschaftsstudium an der Ludwig- diums beschäftigt er sich mit Themen wie Brand Com- Maximilians-Universität München und dem M.I.T., Cambridge, absolviert munities, user-generated brands sowie dem Einfluss und am Institut für Marktorientierte Unternehmensführung der Ludwig- von Communities auf Marken. Zuvor studierte Roland Maximilians-Universität promoviert. Er ist regelmäßiger Referent auf Schroll wirtschaftsinformatik sowie Strategisches konferenzen und Autor in nationalen und internationalen fachzeitschrif- Management mit Spezialisierung auf Strategie und Branding. praktische ten. Erfahrung sammelte er unter anderem im In- und Ausland bei firmen wie Siemens, Hilti und Vivladi partners. kontakt: mzinnbauer@vivaldipartners.com kontakt: roland.schroll@student.uibk.ac.at
  • 13. Impressum ©2009, HYVE AG, Vivaldi partners Herausgeber HYVE AG Schellingstr. 45 80799 München www.hyve.de Mail: info@hyve.de Vivaldi partners Burgstr. 8 80331 München www.vivaldipartners.com Mail: munich@vivaldipartners.com in kooperation mit MIT und UNIVERSITÄT Innsbruck Layout & Grafik Melanie Eckl, HYVE AG