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Marketing has to evolve.
The mantra was sell,sell,sell
Marketers talked and the audience listened
Marketers had full control of the messages
Power of Brands were with Marketers
Old marketing tactics worked well
The mantra is to listen, listen, listen and give, give,give
Audience is part of the conversations
Marketers have little or no control of the messages
Power of Brands are with Consumers
Consumers have a voice and it is getting louder by the day
What has led to this change?
People trusting their peers more than marketers. In a survey result it was shown that 90% of respondents trusted completely or somewhat recommendations from people they know and 70% trust consumer opinions posted online. (source: page 3 chart 1 nielsen survey)
Marketing has to evolve. The New Marketing3.0 is very different from the past.
A close friend of mine pointed out early in my social media learning curve that an attempt to use old age marketing strategies with new age tools is a sure way to fail. I should say that warning has stood me and my customers in good stead. Same way, old metrics dont apply meaningfully for measurement of today’s marketing success. You need to think through this change.
Your customer, your critic and your ambassadors are changing. Your competitors are changing with them. Its not about level playing field anymore, it is pretty much open to anyone who wants to be there.
There are some who are doing it, some who are struggling and some refusing to see the change.
What about you? What are your thoughts? What changes do you see? Is there anything that you have successfully changed from the old to the new? Feel free to share them. I would love to listen.
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