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If you want to understand how to perform valuations of corporate initiatives, including social media, then you need to understand the difference between value and benefits.
Benefits are what you get from a corporate initiative but Value is the money you receive from increased revenues or cost savings.
Benefits are intangibles and some will directly derive from specific feature functionality. Others will be sourced by emotions.
In contrast, Value is tangible -- and it's currency.
In my last article, I highlighted Umair Haque's perspective of the shrinking advantage of traditional brands. However, unlike Haque, I don't believe branding value is shrinking but evolving. Today let's discuss methods in which a company can leverage the immediacy of online connectivity to maintain its branding advantages.
In my mind, it all comes down to this. For success today, a company has to be willing to listen to their customers and to work with them. And that means ceding partial control of the branding process to your customers.
If you're a marketing manager going "eep!" right about now, then you're not getting today's customer environment...
