The traditional media eco-system is going through a major metamorphosis. At first glance it would seem that this is largely driven by the changes of an evolving internet platform and mobile media — something where I think many marketers are taking huge strain just to manage the effects it is having on their brand and media strategies.
Changing Consumer Behaviour
Personally, I think this strain is more about the change in how our consumer are making decisions today. And I think this is the flaw where most media strategies fail.
There is no doubt that there is a symbiotic relationship between the evolving multimedia platforms and consumer behaviour. How consumers make decisions and what influences these decisions has radically evolved from the first TV commercial and marketer’s ability to refine the advertising process.
Today, TV commercials do not have the credibility that they used to. As consumers, we no longer dogmatically believe what a brand says about itself to be true. Now we believe what other consumers say and we the ability to find information in different ways and validate what we want through a peer review system.
How Billions of Dollars Are Being Flushed Down The Toilet
All I have to do is go online validate if I am making the right choice about a product I want. Lets say its a new printer that I am about to buy. It looks like a good product and I know it has a good brand name.
What happens when I use my Blackberry, click through amazon to see what other people say and find 10 bad reviews? I replace the product with one that has good reviews.
For the brand that could mean millions of dollars of advertising investment and years of brand building down the tube. Ouch. And if your consumer believes that you are not being upfront and honest you will pay a severe price.
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