Just a few thoughts…
As a continued verification of the changing marketing landscape, Forrester’s Research points to the “demise of traditional means of marketing”, confirming again that consumer’s have changed their habits and are looking for authenticity in brands along with positive experience not just some message advertised. “As the effectiveness of traditional communications vehicles continues to decline, marketers must think differently about brand building. Forrester has identified that consumers are tuning out marketing messages, but they are actually engaging more with the products they buy. This means that brands must be built on the experiences they deliver, not merely the messages they advertise. Forrester believes that a central component to building brands in the digital era is to develop a product experience platform. This strategy brings the product experience closer to consumers, makes it easier for consumers to interact with brands, and adds more value and relevance to the product and advertising.” (courtesy of Forrester’s Research-Chris Stutzman)
This all points back to ‘word of mouth’ Marketing. With this digital age, handhelds, smart-phones and increased online presences, consumer’s have taken matters into their own hands relying on customer experience, reviews, ratings and interaction.
Businesses are now scrambling to gain online presence, interaction and consumer accessibility. According to PriceWaterhouseCoopers “The ongoing migration to digital media is damaging traditional media categories more than expected.” Print media, on the whole, continued to lag the overall ad market in Q1 2010, according to recent data from Kantar Media. Consumer Magazine spending fell 3.9% from a year ago, while Local Newspapers dropped 5.6%.
What’s all this saying? It means that the strategic landscape for businesses has changed sharply/rapidly over a very short time period and will continue to change. The question being asked is this: