Companies also need to build a platform strategy keeping in mind that Facebook and Google are fundamentally different from traditional publishers.
The author notes that businesses remain interested in Google and Facebook as platforms. They then need to take the next step, which is, creating strategies specifically for these platforms. Brands should build a strategy with the knowledge that these platforms are different from media companies and traditional publishers.
One way to do this is to shift focus from allocating platform budgets to crafting a platform strategy. Brands should demand tools that enable them to maintain high premium content standards.
Of late, Google and Facebook have allowed some third-party measurement technologies to drive value for marketers and bring in transparency. To be able to work with such platforms, brands need to craft marketing plans that are driven by highly accountable, thoughtful and sophisticated strategy.
[4 minute read]