At a recent Facebook Conference, Facebook VP of Advertising and Global Operations, David Fischer, and Stephen F. Quinn, EVP and CMO of Walmart, discussed the power of localizing its social media.
Fischer noted that Sam Walton believed at the start of Walmart, "Retail was fundamentally a local business, and he stressed the importance of staying close to the consumer to understand their needs." Quinn expounded on that, mentioning that over time and as retail evolved, scale became increasingly important, and the company relied more on market research to drive their decision making. But now, Walmart is using social media to go back to truly understanding the local communities of which they are a part.
"We are just barely starting to see the potential that [social local marketing] offers us. We’re going to have to absolutely become a part of those communities and know what’s going on in that community. Being dumb about what’s happening is not going to be acceptable anymore for us or any other large organization."
Many national brands like Walmart are becoming increasingly focused on the power of local. New research supports the effectiveness of that focus, both in terms of fan engagement, as well as response. Like Quinn, SproutLoud believes in this fundamental shift from Corporate to Local, and how important this is to the marketing ecosystem. The entire Company, as well as its technology, has been built to help large corporations move their marketing and brand voice through local channels - include franchises, stores, channel partners, agents and employees. While social is certainly the hot topic, SproutLoud has been focused on empowering these marketers with a comprehensive local marketing toolkit from the brands they sell locally.
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About the Author
Jared is the Founder and Managing Partner of SproutLoud. Since 2005, he has been primarily responsible for strategic direction of the Company, as well as the oversight of SproutLoud's Partner ecosystem. Prior to SproutLoud, Jared worked in Thomas Weisel Partner’s internet and online advertising investment banking practice in San Francisco. He served as the lead analyst on a number of Corporate Finance and M&A deals including Newscorps’ buyout of Intermix Media (Myspace.com). Jared graduated with a B.A. in Finance and Marketing from the McIntire School of Commerce at the University of Virginia. Jared has an MBA from the Kellogg School of Management at Northwestern University and is a member of the Young President's Organization (YPO). Jared has been honored as one of the Top 40 under 40 entrepreneurs by South Florida Business Journal and a Top 50 Entrepreneur by Business Leader Magazine. Jared lives in South Florida with his wife and two sons.More Content by Jared Shusterman