Several months ago, I had the opportunity to do some research for a project on Operations Management and how it relates to strategic planning.
There were numerous bits of the research that interested me, from the impact of crowded shelves in a store to the scarce attention of consumers. But one of the things that I found most interesting was the growing power of the consumer. Many factors contribute to this increased power: the Internet, texting and the increase of social media. Now, instead of being swayed by brand messaging, consumers are more connected, do their research and know what they are buying up front.
In past years, the way companies marketed looked like this:
- Blast them with your message wherever you can find them
- Make it challenging for them to compare with the competition
- Directly control your relationship with your consumer
Now, marketing has shifted to this:
- Create incentives so the consumer will find you
- Engage and allow for deeper relationship, one that is sustainable and promotes innovation
- Utilize third parties to create credibility and community
This shift will require marketing people to change their strategies and in many cases, even the tactics they use.
Are the days of product-focused marketing gone? Probably not. But the days of consumer-focused marketing are here.