Technology is changing the communication and marketing landscape. Consumer generated content dominates any other kind of online content four to one. As consumers continue to embrace the latest social media advances, businesses find themselves held to higher standards of ethics and communication and subject to increased public, even viral, praise and criticism. These conversations are going to continue to grow whether companies decide to join in or not, but there is an upside to these technological and social changes. They have placed businesses in the perfect position to lead this dialogue with consumers. Many companies have embraced this and plan to join in. According to IBM’s Global CEO Study 88 percent of CEOs say “getting closer to customers” through social media programs is top priority for the next five years. The establishment of this new relationship means that simple advertisements are no longer enough to cut through the clutter and have your message heard. Consider the following:
- One-third of all purchased display ads are never shown
- 86 percent of people skip TV ads
With everyone competing for attention, consumers are looking for companies that show consideration, appreciation and credibility. This sort of relationship involves a high level of collaboration. Companies will have to get creative and loosen up on the reins, so consumers can influence and take co-ownership of their favorite brands. This consumer input might sound scary, but it will ultimately help businesses improve their products and messaging. As marketers, we’re always trying to understand the wants and needs of the target audience and now they want to tell us. Crowdsourcing is a collaborative technique where a company turns to large groups outside of its employees and suppliers, especially from the online community, to obtain needed services, ideas, or content. Crowdsourcing campaigns have been known to bring about new insights for product development, supply successful advertisements and build brand advocacy.
If you’re interested in adding collaborative marketing to your marketing mix, contact us today.