In recognizing how fast the marketing industry is changing, this article presents seven paradigm shifts and present clear implications for how brands need to adapt.
Shift 1. Brands of the future don’t just sell products or services: enabled by technology, they create inspiring content and experiences that engage people in their brand world. Brands must stop thinking just about communication- and start thinking about creating content that holds genuine value for their audiences.
Shift 2. Brands need to have an active purpose at their core that frames the conscious role they play in people’s lives, the value they will bring. Brands need to move from static transmitters to purposeful, active enablers.
Shift 3. The notion of a linear customer experience is irrelevant. Brands can no longer control the way in which consumers interact with their messages. Brands need to engage in two-way conversations that reflect the way people consume content today.
Shift 4. Marketers need to think about what new processes and partners will best support them in the short term as marketing departments gradually evolve toward this new reality.
Shift 5. Brands must show themselves capable of reinvention, even disrupting their own model in order to remain relevant and fresh. Brands must curate more of an entrepreneurial mindset, developing cultural awareness and becoming alert to change in order to identify and harness opportunities to evolve.
Shift 6. Brands must identify consumer needs and deliver personalized, targeted experiences to their audiences. The real opportunity for brands is to focus on the value that Big Data can bring consumers, rather than the value it brings the business.
Shift 7. Brands must develop a mobile-first mindset, reflecting the way people live today by providing relevant content that adapts in real time.
My questions for the class are: Many of the paradigms discussed above overlap the concepts we spoke about throughout the semester. What role do you think social media plays in the changing marketing climate? Do you think brands can be successful today without adapting and integrating social media into their marketing strategy? Can you think of any examples of brands that are navigating these paradigms successfully?