In a world of ‘digital everything’, there is no privacy and nowhere to bury bad news. Data leaks everywhere, from the supposedly top-secret revelations of Edward Snowden to the private mobile phone accounts of celebrities. Digital cameras capture confidential conversations, brutal wars, dangerous working conditions and embarrassing political gaffes. This flood of data washes around the world at a furious pace: every second of the day sees 24,000 gigabytes of Internet traffic, 7,000 Tweets, 90,000 YouTube videos viewed, and 2.3 million emails sent. This is an insight which global brands must understand: embrace the Age of Authenticity or risk being left behind.
I like Philip Kotler because he writes what a lot of us are thinking. However, we should take everything he says for granted. We, as marketers, need to think about what he says and ask “how does this apply to my organization & marketing?”.
Marketers may be happy that unemployment is falling, but don’t think for a minute that consumers are going back to their free spending ways. The fact is that new jobs are paying less than jobs before the recession and with employers pushing higher health care costs to employees most middle-class consumers haven’t seen a raise since 2008.
The Influence Marketing Group recently posted an article entitled “Why Brands Should Stop Idolizing Oreo’s Social Media Strategy”. One of their key points is that “consumers are longing for permanence. In a fast paced world where pithy 140 character observations are almost instantly forgotten or even ignored in the first place, consumers don’t want more disappearing content.” I would argue that in todays information overload world consumers don’t have the time to remember your social media marketing and that social media is needed to keep the momentum of your marketing moving forward.
Over half (55%) of consumers are put off buying products or services if they see the same ad online multiple times, according to a study by InSkin Media and RAPP Media that surveyed over 1,600 people aged 20 to 60. Only 10% of consumers are more likely to buy something after seeing the same ad served repeatedly because of their previous web surfing behavior (known as retargeting).
The New Economy changed the rules of selling: New Economy customers are weary of countless indistinguishable stores, brands, goods and services. Finances are tight, so today’s customers are increasingly discriminating. They won’t tolerate ordinary products, incompetent personnel or bad customer service. You must earn their trust, deliver value and ensure that your offering matches their needs.