A casual social media comment or a 60-second video by an influencer can make or break a brand. In an age where digital media has opened up communication and users are connected 24/7 on messaging and photo-sharing platforms, brands must be aware of social chatter.
This was the topic of a panel discussion titled “Trust or Bust: Thriving in the Digital World” on Thursday at the Goafest 2024 held in Mumbai. The panel included Britannia’s chief marketing officer Amit Doshi, Meta’s director of global partnerships Paras Sharma, content creator and co-founder of the 1% Club Sharan Hegde, and MICA professor and digital content creator Falguni Vasavada. The experts highlighted how brands can navigate the peaks and troughs of digital media.
The session was moderated by Manisha Kapoor, CEO and secretary general of the Advertising Standards of Council of India (ASCI).
Doshi said that brand trust has become a two-way street rather than a one-way one on digital media. “As there is direct communication between the brand and the consumer on social media, advertisers have to actively listen to and respond appropriately to maintain the trust that has been built over several years. The feedback to this communication from consumers also reaches brands faster than before, which has to be tackled,” he said.
Meanwhile, Hegde acknowledged how financial influencers had come under scrutiny of the Securities and Exchange Board of India in recent months for giving financial advice without the license to do so. “One has to ensure that their community of followers are being given verified and correct information, especially when it concerns their financial well-being,” he said.
Vasavada said that building a community and earning trust began with content creators being their authentic self on public platforms.
Discussing the impact of social media on content creators, Sharma emphasised Meta’s commitment to the digital well-being of its creators. He highlighted various platform features designed to protect creators from trolls, enable parental control for minor users, and facilitate the rapid establishment of online credibility for content creators.