In the following interview segment, Doug Levy, author and CEO of MEplusYOU, gives surprising advice about the best way utilize social media. The full interview with Doug Levy can be seen HERE, in which he discusses his new book, Can't Buy Me Like. In the book, Levy tackles the changing marketing space, believing that companies must either adapt or continue to put blind faith in increasingly ineffective advertising. Levy also explains a new era that we've entered, dubbed the 'relationship era', and describes how this will change marketing for all companies, big and small.
The retail space is in the midst of the biggest paradigm shift since mail order took off at the turn of last century. Only those most forward-looking and capable companies will survive, and they'll handsomely reward those investors who understand the landscape. You can read about the 3 Companies Ready to Rule Retail in The Motley Fool's special report. Uncovering these top picks is free today; just click here to read more.
Brendan: Do you think there's one particular medium, be it TV, Internet, maybe even direct communication, that companies can best use in this Relationship Era in order to take advantage of their marketing?
Doug: I do think that social media becomes a great mechanism for marketers in this new era, and they need to use it differently than they're used to using other media. It's not a mechanism best used to broadcast a message about a product. In fact, that's how marketers typically operate. They're talking about what they do.
What we advise marketers to do, in the book and through our agency, MEplusYOU, is take a step back and get clear on why you exist, what your reason for being is, what the world would lose if you disappeared, what you believe, what you stand for.
When a marketer is clear on those things, social media becomes a great way to connect with like-minded people. Really, the whole construct of marketing is less about, "How do we go out and influence people?" and more about, "How do we get clear on what we stand for and attract people who are like-minded?"
The article Better Marketing: What is Your Reason for Being? originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.