Saturday, 14 May 2011

Distant Past predicts Present and Nearby Future

In 2006 I translated articles from Dutch in English for the 'Marketing Tribune'. One of the articles, written by Carl Rohde (Science of the Time), described trends such as co-creation, appropriation, and The Experience Economy. While first 2 trends may have become obvious during the last 4 years - everyone who is online co-creates and appropriates -  the latter trend, The Experience Economy, is becoming more and more apparent to a wider public.
Increasingly, online users get inspired, are informed and purchase based on experiences of people they know and interact with in Social Media. Personal experience, shared experience, posted experiences, no matter which, experience is key to user behaviour. Making experiences become important drivers for the Experience Economy. An economy in which "experiences are predicators to products".

This development demands a different online market approach. No longer will users accept traditional one-way advertisements for a service or product. There has to be some sort of Experience preceding it. Hence "experiences are predicators to products".

In other words: companies have to start listening instead of 'telling and selling'. Even more important, companies have to interact with their customers, start working on building relationships with their customers to gain their trust, and, crucial (!) earn that trust. The best place to start is in online Social Media.

It's the economy upside down, in a way. A good economy though! One that delivers what is really needed and wanted,  instead of one that relentlessly floods the market with useless products and services.
Products and services that are devoid of any personalisation, localisation, appropriation, co-creation etc. etc.

So if you do business online, better start making an effort to build customer relationships! Otherwise, your business will be left behind.

If my post caught your attention, click on 'read more' in the below post. It will display the entire article providing you with an interesting retrospective of the distant past predicting our very present and nearby future.

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