Millward Brown: How Should Your Brand Capitalize on Social Media?

With the tremendous growth in the use of social media, brands have been wrestling with how best to capitalize on it. However, the way consumers view online social networks means that the normal rules of marketing do not apply; the emphasis needs to be on dialogue and a sense of community. Fan pages can be used to build brand equity, but some pages do this better than others. The nature of social networks is dynamic, and marketers need to recognize that they require active involvement and a willingness to take the good with the bad.

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