My friend John Durham, who lives and teaches in San Francisco but practices Marketing globally, publishes the most interesting things on social media. Recently, he retweeted some thoughts from Tom Goodwin who said:
2005- It’s all about 3G
2010- It’s All about Big Data
2015- It’s all about IOT
2017- It’s all about AI
Can’t it ever be about people?
In my experience as a Marketer it’s always about people or in more basic marketing terms it’s about the consumer. If we believe the foundations of Marketing theory (and I do) the definition of Marketing is to understand what people wants and then meets those wants.
Granted, categories of people must involve more than just the consumers who buy your product or service. But consumers are the best place to start. That being said people also means investors, business partners, employees of your company, the media (mainstream and social) as well as folks who may fall into any of these categories in the future. The key is to have a brand, positioning and narrative that will resonate well with all of these groups and reinforce the power of your offering.
Consumers have power well beyond their decision to purchase or not purchase your product. In effect, every consumer is a publisher. With an ability to create or share or share content, opinion and influence all over the world. In the old days companies used to create and control brand narratives. Today there is little to no control. And the narrative is shared.
These changes have major implications in the ways consumers and brands interact. There are as many media channels as people in the world who have access to the Internet. So it’s not about that one big thing. It’s about everything. I suggest you focus less on the latest communications tool. The latest trend. The next big thing. Understand how consumers feel about your brand and you’ll get closer to success.Thank you!