I have inherited two of the most important brands in hip-hop, Def Jam and Roc-A-Fella. Reid and Universal Music Group have given me the opportunity to manage the companies I have contributed to my whole career. I feel this is a giant step for me and the entire artist community.
Brand names aren't important to me at all.
Spending $1 for a brand new house would feel very, very good. Spending $1,000 for a ham sandwich would feel very, very bad. Spending $19,000 for a small family car would feel, well, more or less right. But as with physical pain, fiscal pain can depend on the individual, and everyone has a different threshold.
Katalyst is a merger of three industries. A piece of us is connected to ad agencies. Because we get the complex overlay of the social Web, we know how to engage an audience and how to make entertainment for the social Web. And we know how to gain and activate and retain an audience. So we create social networks for brands.
I enjoy just being me. I don't need to be Queen Latifah, the brand, 24 hours a day.
Brands are faced with the daily challenge of massively scaling their outreach in order to build personal relationships. While this may seem like a contradiction in terms, it becomes much more possible when brands shift from push to pull dynamics in their marketing.
Too many brands treat social media as a one way, broadcast channel, rather than a two-way dialogue through which emotional storytelling can be transferred.
Consumers now have a voice. And the fact that consumers can be creators, producers and distributors means they can push back against brands to punish them for their socially irresponsible behavior or reward them for their responsible behavior.
It is a truly powerful phenomenon when a brand makes a stand for what it believes in.
The new dynamics between brands and consumers, driven by social media, are proving to be a powerful impetus for change.
The way customers relate to brands and how profit is generated has changed so dramatically almost every professional is being challenged to reconsider what they do in order to stay relevant.
Brands must be very specific in their choice of social media platforms through which to communicate their CSR or cause messaging.
Define what your brand stands for, its core values and tone of voice, and then communicate consistently in those terms.
The currency of universal values make brands innately sharable.
What today's business reality makes clear is that brands cannot survive in a society that is failing economically, socially, ethically, and morally.
Brands are facing a new competitive landscape in which self-definition, core values and purpose will increasingly define their ability to reach customers that only allow what is meaningful in their lives to pass through their filter.
Brands must empower their community to be change agents in their own right. To that end, they need to take on a mentoring role. This means the brand provides the tools, techniques and strategies for their customers to become more effective marketers in achieving their own goals.
Companies and their brands need to reach out and speak directly to consumers, to honor their values, and to form meaningful relationships with them. They must become architects of community, consistently demonstrating the values that their customer community expects in exchange for their loyalty and purchases.
If a brand genuinely wants to make a social contribution, it should start with who they are, not what they do. For only when a brand has defined itself and its core values can it identify causes or social responsibility initiatives that are in alignment with its authentic brand story.
Perhaps the most powerful lesson other brands can learn from Nike is the need to act in accordance with the reality of the world we live in. In a mutually dependant, intimately connected global community facing several major crises, brands need to operate with an expanded definition of self-interest that includes the greater good.
As a function of the easy access to information provided by the Internet, and the ease with which it can be shared thanks to social media, consumers are now better informed as to the behavior of brands and the multiple global crises we face.
Brands must have a point of view on that purposeful engagement, whether it's directed towards the environment, poverty, water as a resource or causes such as breast cancer or education. Merely declaring your commitment to a category or cause will not be enough the distinguish your brand sufficiently to see a return on these well-intended efforts.
How much do you as a consumer value a positive experience with a brand or its customer service department? How willing are you to share that with your friends? How inclined are you to let that person know that you're interaction with them was positive?
If a brand wants to build social communities, capital and influence, it must become the chief celebrant of its community, not its celebrity. This simple shift in approach unlocks enormous transformative potential for brands.
In fact, I believe the first companies that make an effort to develop an authentic, transparent, and meaningful social contract with their fans and customers will turn out to be the ones that are the most successful in the future. While brands that refuse to make the effort will lose stature and customer loyalty.
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