5 Ways the Old Marketing Paradigms Have Changed
3. 'Broadcasting Messages' Is Now 'Facilitating Conversations'
A company's best marketers are no longer the individuals in the business themselves. In a world where attention is scarce, and everyone has a channel, it is the community around a company that are the best communicators: its customers, prospects, suppliers, partners, stakeholders etc. Subsequently, the emphasis of an organization's communications should be from simply broadcasting messages to creating communications that will lead to engagement. That is, people respond, discuss and share the information with others.
4. 'Knowledge Is Power' Is Now 'Shared Knowledge Gives You Attention'
The Internet has made information ubiquitous. Therefore, the days of going to organizations because they had the knowledge you lacked are long since gone. Everyone has the ability to research and obtain the knowledge they require. With information, in a digital age, being a commodity, companies should not guard their expertise. Rather, they should share the information they have with the wider world. In so doing, a business will demonstrate proficiency, and earn credibility and trust with prospects and customers alike. In so doing, they will obtain the attention of the market place. The company can then charge for where the real value lies, that is, in the application of the knowledge.
5. Customers Are No Longer 'Kings,' Now They Are Your 'Partners'
In an analog world, the old adage the customer is king meant that without the patronage of the customer, there was nothing. The "customer is always right" and other sayings were meant to highlight the idea that companies had to treat customers well. Of course, this is still the case. However, now it goes further. In an experience economy, customers want to be involved. They want a say in the new design, the choice of colors, the next offering, etc. They want to be able to personalize more of what a business provides. Moreover, with every individual owning a channel, the customer will now be an organization's greatest marketer. Therefore, customers are no longer simply king, today, they are even more important.