The rules of engagement have changed with
the empowerment of people. Political leaders need to emphatically listen to their
voters and keep in tune with their sentiments. Business leaders need to emphatically
listen to their consumers and keep in tune with their need and preferences. There is
need for change in style of management and government from dictating to collaborating,
from propaganda to engagement, from one-way communication to a dialogue.
While the fundamental principles of marketing have not changed, the emergence of
the digitally transformed landscape has introduced a host of new perspectives. These include:
While the new rules and perspectives afford great
opportunities, they also pose big challenges.
Priorities have changed. For instance, listening and
engaging is taking precedence even as brands continue to talk to consumers.
In addition to “consumer impressions” (number of people who get to see or
hear an advertisement), marketers are increasingly tracking “consumer
expressions” (people who engage with the brand).
Meanwhile media is in a state of flux.
As new technologies come into play, the industry dynamics keep changing.
