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Carri Bugbee

How to Thrive in Social Media's Gift Economy - Mark Bonchek - Harvard Business Review - 0 views

blogs.hbr.org/...standing_social_medias_gi.html

gift economy social media strategy

shared by Carri Bugbee on 14 Aug 12 - No Cached
  • In a market economy, the focus is on transactions. In a gift economy, the focus is on relationships.
  • In a market economy, people use money as a medium of exchange — a financial currency. In a gift economy, people use social currencies.
  • Social media are fundamentally gift economies. People are there to cultivate relationships, not conduct transactions. They exchange social currencies, not financial currencies. And status is earned not bought.
  • ...1 more annotation...
  • Brands that succeed in social media follow the principles of a gift economy. They build relationships, earn status, and create social currencies.
Carri Bugbee

6 Reasons Marketing Is Moving In-House - 0 views

hbr.org/...s-marketing-is-moving-in-house

in house marketing in-house marketing strategy ad agencies

shared by Carri Bugbee on 01 Sep 15 - No Cached
  • 1. Agencies are slow.
  • “The work is moving closer to where the customers are, where the responses can be more rapid and connected.”
  •  2. Agencies are stuck on advertising.
  • ...4 more annotations...
  • Another brand manager told me that many agencies are creating social spin-offs but they still operate like traditional ad agencies
  •  3. Continuity has become more important than campaigns. There’s a key difference between funding an ad campaign and supporting a social media effort.
  • 4. Companies no longer want to outsource customer relationships.
  • “Agency employees are stretched thin, and their ideas are too. It’s harder to invest in a brand and do a bang up, non-cookie-cutter job for a client when you have 12 other brands on your time sheet. Moving to the client side allows for more opportunity to really invest in one brand and watch it grow.”
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