Shift of Power

 

 High-level marketing executives are shaking in their boots with fear.  The fundamental shift of power to the consumer can be scary but with a clear understanding of business needs and the right platform …this shift can be far more beneficial then any traditional marketing research or advertising. Understandably this can be frightening for marketing executives, who can no longer hope to completely control what customers see and hear about their brands Is it a control thing?  Lack of faith?  Did they ever really have control or just pretended to?

Great questions. It is hard to admit, but we probably never had control in the first place. The good news, from my perspective, is that the grass roots information about our brands can be so much more powerful. That can be a good thing - as long as we're doing the right thing by our brands and for our company. My company has a huge network of customers and I'm really delving into relationships with many of them on the social networks. It can be very gratifying and a great source of information for our product development and customer service teams - or even for sales. Just today, I introduced a current owner to a potential owner via LinkedIn because the customer wanted local input on the waterways and how he plans to use his boat. I truly believe that this will be what closes the sale for local dealer and I'm excited about this new frontier. I was working on influencer campaigns eight years ago and it was definitely much tougher back then. So, long answer short - as long as you're doing the right thing, I think it can only be a positive to relinquish that control.

I do believe, for a long time, marketers did have more control of how their brands were viewed by audiences, and traditional advertising had a huge part in this. Consumers had no other way to learn about products, other than commercials, print ads, etc. So we listened and believed what was being told to us. But with the peak of the Internet and the growth of social media, consumers have transformed into info-hungry, truth seeking, savvy shoppers. Our generation demands more from companies and we're not afraid to open our mouths when we don't get it. Because of this, companies need to step up their game. Yes, social media can hurt them. But if used correctly (and especially preemptively), social media can do a world of good. I think the biggest issue is that companies still need to learn how. There is a ton of theory out there, I think many just struggle with how to put it into practice.

To add another angle to your opinion, when a product is sold and current product owners can post their opinions on how they like the product, it not only lets other consumers know if it's a good product, but alerts the producer to change the product based on consumer demand or complaints(if they listen). This is an opportunity that has never before been possible! This is like "social Darwinism".... on steroids!

Heidi brings up a great point. Often times, businesses and organizations view social media as the "enemy." Consider the numerous lawsuits that professionals like doctors, dentists and lawyers are pursuing as a result of poor reviews on sites like Yelp. Instead of lashing out externally, they should be evaluating internally and use this feedback to their advantage. Find out what's wrong. Figure out how to improve. Reach out. Communicate. Build trust. I guess if you really look at it, it's not so much a loss of control, but more of an introduction to a different kind of control that takes time and effort to learn, practice and master.

Remember when movie executives were afraid that letting movies come out on tape would damage movie theater sales? well, it only enhanced people's experiences and made them purchase movies on tape after they saw it in the theater. This would be the same.. once companies see the advantage of having open forums, they will be less scared to take advantage of the things that come out of it. Consumers can't really be controlled, but now they have wider audiences. The future of advertising and the media will be really interesting.. consumers now will have the power to direct future product development as well as how companies related to the public. Image is everything!