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1-Page Summary of Marketing 3.0

Overview

Marketing is easy today. Selling your product or service isn’t as difficult as it was ten years ago, since you can take a regular photo and manipulate it using an app to make images look more attractive without anything actually changing, use social media frequently to spread information around the world in seconds now that there are no printing costs involved, and there is research from decades ago that translated those findings into simple steps.

The good news is that you have more knowledge and better technology. The bad news is that consumers are becoming wary of false promises and want to participate in the process. If you don’t engage them, they’ll simply stop listening!

Old-fashioned marketing is not good enough for today’s smart and socially conscious clients. It can’t deliver in a way that will satisfy them. With this summary, you’ll learn about a new kind of marketing, Marketing 3.0–the only kind that works with modern clients. In these key points, you’ll discover: why an American grocery store chain educates its cashiers on gourmet food; how creative people challenge marketers to do better; why aggressive actors playing Goofy might raise questions about Disney’s integrity.

Big Idea #1: Advertising was transformed when consumers began participating in the design process.

It’s hard to believe that the 1980s were 30 years ago. Back then, we consumed entertainment differently than we do now. There was a time when it was just something you watched or listened to while doing other things. Eating snacks and watching TV are examples of this kind of experience.

In the past, it was easy to market a product. You just had to convince people that your product is great and they would buy it.

But things are different these days. People don’t just sit around and consume their news and entertainment, they participate in the creation of it. Thanks to widely accessible technologies, people can now create media themselves as well as share it with others. This is an age of participation where everyone has a voice and a chance to be heard.

Two main factors contribute to this trend: first, technology has allowed us to connect with others quickly and easily; second, these technologies have become cheaper because of open source sites. As a result, practically everybody can afford to participate.

Social media has changed the way we interact with each other. There are two types of social media, as identified by their purpose. The first is called expressive social media and includes blogs and Facebook where people share their personal views on various topics. The second type is collaborative social media that uses open source technology to allow any user to develop it or change it in some way. An example of this kind of technology is Wikipedia, which allows users to edit its content freely.

The rise of social media has also changed the way companies advertise. Consumers trust people in their social networks more than they do advertisers, so classic advertising methods are losing influence. As a result, many companies are focusing on social media to win over customers and develop products together with them. For example, Procter & Gamble uses its Connect + Develop program to get input from customers and improve its products.

Big Idea #2: Creative people are shaping society and companies should attend to their needs.

Creative workers, such as filmmakers and writers, represent a small sector of society. However, they have a lot of influence through their lifestyles and opinions. In addition, these consumers are very sophisticated in terms of what they want from brands and businesses. Creative people tend to flip Abraham Maslow’s hierarchy of needs on its head by satisfying higher-level needs before lower ones.