WikiBranding: co-creating brands with the globalized youth

David Murphy, Co-President and Director of Brand Innovation at advertising agency BD'M, claims to have coined the term "wikibranding" at an Ad:Tech panel in 2007. The term conveys, in his words, "an observation that brands are in fact wikis, entities that are increasingly defined by the crowd and less so by the manufacturer".

With reference to this concept, writers Mike Dover (Wikibrands) and Rob Salkowitz (Young World Rising) shared their thoughts in a recent article on how this applies increasing to the Under 30's in the fast-growing middle class of emerging economies who represent the "next billion customers".  While they now represent the most compelling growth opportunity for business, they also throw up major challenges as they are "coming of age in the same dynamic and unpredictable digital media culture that has disrupted old business models and old marketing strategies in the developed world".

Their key recommendations?

Change the nature of your corporate communications

Broadcast will no longer be effective. Companies need to actively engage with consumers in a conversation. The concept of a brand can no longer be developed by marketing executives in the boardroom; the conversations in the community determine the true nature of the brand.

Customize the message and delivery for the rising new world

The Young World shares many of the same characteristics as their contemporaries in the developed world, and one of the key examples is their ability to deftly scrutinize. A campaign that is reproduced or superficially tweaked for a new market will be at best useless and at worst counter-productive (many of the target audience may have already experienced the campaign via social media).

Balance the media mix

It isn’t just television that’s the wrong platform to reach the Young World. So too is the Internet Browser. Most of the marketing reach to the Young World will be delivered through handheld devices. It is important that the campaigns and community building be designed with these devices in mind rather than modifying another platform.

Source article

• Co-Creating Your Brand with Young World Consumer-Entrepreneurs