Power and Influence: What Can Make or Break You?
March 2018
Did a Kardashian really just wipe
Whether you watch reality TV or not, it's pretty likely you've heard of the Kardashians. In an era of social media and digital marketing, there's an equal reality that a person with a large following online has the potential to be a strong influencer that can make – or break – your business.
It's common for businesses to work through a list of external influencers and stakeholders to manage risk. Normally, the list considers Government regulation, environmental factors such as location, competitors, and changes in the marketplace but the cycle of
The problem for businesses whose products become a trend is that trends go both ways - exponential growth and sharp decline. You are either in the spotlight or you're not.
Consider the impact
While the price clawed back 2% that same day, and Jenner softened her commentary with another tweet saying, "still love you tho snap … my first love," the effectiveness of Snapchat's strategic direction had already been judged by its own social media jury.
The share price of Snap rose to a high of US$20.75 from US$14.06 with the release of the update but had been buffeted by negative feedback. The share price had been gradually falling since 16 February. Jenner's tweet made that decline a much sharper descent.
Other examples point to the positive impact: Jimmy Choo credits Princess Diana's stylish influence as a catalyst for taking the brand from simply beautiful to desirable – a trend that has not significantly diminished. Kaftan designer Camilla became globally
The lesson is to have a strategy to
* Snapchat's parent company
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Disclaimer
This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.
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