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Ford CMO Jim Farley Speaks of Social Media Saving via MackCollier.com

While the comments after the article are really where the Social Media awareness and how it relates to the consumer is exciting, the article and video themselves bring about the invitation to discuss! Be sure to read the comments after the article!

Excerpt from MackCollier.com

The Question was: Are there any areas that Ford can point to where social media has either lowered business costs, or improved existing processes?

Jim Farley’s Answer: What happens is, by launching the vehicle early, getting people involved in talking about the new global Focus or the new Fiesta is the US before it goes on sale, we can lower the amount of traditional advertising we do after the vehicle goes on sale. That’s where the massive cost savings have been. I’ll give you an example; On the Fiesta Movement, we had higher unaided nameplate awareness than Fit or Yaris, and we spent 10 cents on the dollar, than a traditional tv ad campaign. So by starting earlier and using social media to spread the word about the new product, we’re really reducing the amount of traditional advertising we have to spend.