June 8, 2011

Starbucks and the Economic Meltdown

As recently as 4-5 years ago, many of us who do business presentations used Starbucks as an aspirational brand. It was the trading up transaction. You would do without something to get that $5 latte and millions of people go into their 17,000 stores every day and do just that. Then the economy took a kicking and suddenly Starbucks was viewed – by some – as too expensive or a frivolous luxury we couldn’t afford.

So instead of assuming what people were doing or thinking, the company thought it would be wise to actually find out. Matthew Guiste is the Director of Global Social Media at Starbucks. In this video presentation, he talks about how they engage millions of fans through Twitter, FourSquare, YouTube, Facebook and various other channels.

Your business may not be as big as Starbucks but this could give you ideas for engaging with your customers.

Kneale Mann

video credit: leaderlab
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