Tag: product development

Viral HuffPost content on Millennials’ finances has lots to teach financial services marketers.

The affordability of health insurance is more than a perception problem, and it’s about far more than whether consumers like their insurance companies or plans. The very real financial struggle creates a fundamental challenge: the industry’s bottom line requires consumers to see value in – and continue to pay for – health plans.

B2C brands are discovering the remarkable reach of social promotions. Pepsi has reported that every entry in its Refresh Project generates, on average, 5,000 votes. That means the 5,000 projects Pepsi had approved and posted to its Refresh site by June 2010 generated 25 million direct engagements. And those 25 million represent only the tip of the iceberg relative to the total media reach generated by the 5,000 posters who promoted their causes through their own social networks. Social promotions, defined here as any intentional social engagement – queries, polls, contests and other structured invitations to interact with a brand – seed the social landscape, trigger interaction and inspire sharing. Their success is changing how brands look at social media – reducing fears and opening minds.

When market conditions change, you need to respond quickly and concisely. That could mean repositioning your product, redefining your audience or changing the vehicles you use to communicate.