New media is defining a new era of business. The forces of creative destruction are carving out the corporation of the adjacent future. Here’s an example.
I attended Facebook Studio’s Hack Sydney event at the Carriageworks and wanted to share some of the ideas and themes that resonated with me from a marketing and a 7P model perspective (7P model – using social media to refresh the traditional corporation).
Hack Sydney is one of around 30 global Facebook hack events educating brands and agencies to better engage people using Facebook. The half day event had around 20 speakers, many coming from Facebook offices from around the world. This was Facebook’s only hack event for Australia and New Zealand.
A report by the Center for Marketing Research at the University of Massachusetts Dartmouth states adoption of social media by 500 Fortune companies is static.
New media is providing corporations the opportunity to reassess commonly accepted marketing practices. At the top of my list is the marketing/purchase funnel.According to Wikipedia, the marketing/purchase funnel was developed in 1898. The marketing/purchase funnel suggests to marketers that a customer gets pushed along a purchase path that starts at ‘awareness’ and ends at ‘purchase’.
Two year old kids are easy to communicate with. Why? Compared to adults, their lack of an internal filter leads to genuine and often immediate reactions.
Even though two-year old kids have limited vocabularies, if you pick up the right keywords and piece together their intent, you can (generally) understand what they want.