Marketers need to understand what consumers want so that they are able to set up a market that advertisers can standardize the way to sell into those markets. There are two dynamics in my marketing play book. The first is listening to what consumers want. A good way to start this is by looking at what channels users are on and see what channels are growing or shrinking. The second dynamic is participation. Users can share online coupons or by commenting on Facebook. A key to participation is that marketers have to realize which channels are deemed as participatory channels.
Through my marketing map, marketers should think about trends in 3 ways:
- Marketers should think ‘outside-in’ by listening, gathering preference data, investing in communities and earned media vs. paid media
- They need to pend less on broadcasting and mass media
- Finally, they need to look at growth rates and not absolute audience; along with the potential to drive participation and sharing
Below, I dicuss more trends that marketers should pay attention to.