There's no better stat than Eric Schmidt's to illustrate how radically the amount of information available to people has expanded. Just a decade ago, marketers were able to control much of the messaging that consumers viewed about their brands. The amount of messages consumers saw was also still relatively manageable, so reaching them solely via mass media remained a sound strategy. Today, the amount and speed of information and innovation are quickly rendering the formula marketers have used over the past few decades ineffective.
The future will not slow down. Information will not be reduced; it will continue to increase exponentially. Marketers, therefore, must innovate, test, and create significantly more than ever before. They will also need to rethink how they reach and engage consumers amid much more product messaging and noise.
The future presents marketers with two distinct options: Hire armies of employees and agencies to try to keep pace, or figure out ways to collaborate with consumers in a much deeper way throughout the marketing process.
For companies that wish to stay out of the red, the choice is obvious: They will need to partner more closely with consumers who can inform, ideate, and influence others on behalf of the brand.
Technology will continue to make it easier for consumers to create, collaborate, and communicate with brands, and consumers will become core to a brand's marketing success.
What a Crowdsourced Future Will Look Like
Many traditional definitions of crowdsourcing have limited it to mean soliciting a crowd for the best idea, creative execution, or product submission. Although those are great uses for crowdsourcing, a much more natural, ongoing, and pervasive use of it will ultimately become a key driving force for all brands.
Take the first step (it's free).
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