Let's go on an online safari. Levering the power of conversations in the alcohol beverages industry

Annelies Verhaeghe
InSites Consulting

Steven Van Belleghem
InSites Consulting and Vlerick Leuven Gent Management School

Denise Price
Diageo Northern Europe

PART 1: THE IMPORTANCE OF CONVERSATIONS

We live in fascinating times. With the possible exception of the industrial revolution, we are living in one of the greatest eras of human change in history. In the years to come, this period will be referred to as the conversation revolution. The story of the Net Promotor Score has proven that positive word-of-mouth is the key driver to growth. In other words, your most important success indicator are consumer conversations. Not only to drive business, but also because these conversations determine your brand positioning. Not what you say about your brand is the actual positioning, what consumers are saying about you is the real positioning. With the rise of social media (e.g. Facebook & Twitter) word-of-mouth has become 'worLd-of-mouth'. The principles are exactly the same as hundred years ago, but this time conversations travel with the speed of light. Reach and impact have increased, hence we see an increase in the importance in conversations.