Marketing in an era of post-consumerism
Get it and get it now before your neighbor does. It's a myth that's stood the test of time and fueled a global economy because it could. But what happens when people don’t want to buy like they used to ?
According to research from The Economist: “Sociologists detect a distinct change in people’s behaviour. Many people no longer seem consumed by the desire to consume; instead, they are planning to live within their means, and there has been a backlash against bling." If the "backlash against bling" is real, then what is marketing going to look like to millions of people who don't want to buy like they used to—who are marketing weary? What's the effect on companies who make their profits by continually producing new products?
On the business side, corporations are going to have to figure out how to incorporate more services as part of their core offerings. On the marketing front, there needs to be some recalibration. The holy grail of measuring a marketing initiative is being able to prove that more products have sold. But what if no one's buying? What if no one's listening for that matter?
Do you stop marketing? Of course not. Marketing just needs to be more meaningful and relevant to a "consumer" who is looking for more relevance and meaning in their lives. They'll repay you with loyalty and positive word of mouth if you can offer them this—but here lies the rub. Marketing was invented to take, not give. It's meant to generate awareness and sell products not provide value. There's nothing wrong with selling products and the best marketing does this well. But if the sociologists mentioned in The Economist are correct, than marketing may have to change it's stripes in order to be relevant to a consumer who is highly empowered, connected and asking themselves "do I really need more"?
read more >>
According to research from The Economist: “Sociologists detect a distinct change in people’s behaviour. Many people no longer seem consumed by the desire to consume; instead, they are planning to live within their means, and there has been a backlash against bling." If the "backlash against bling" is real, then what is marketing going to look like to millions of people who don't want to buy like they used to—who are marketing weary? What's the effect on companies who make their profits by continually producing new products?
On the business side, corporations are going to have to figure out how to incorporate more services as part of their core offerings. On the marketing front, there needs to be some recalibration. The holy grail of measuring a marketing initiative is being able to prove that more products have sold. But what if no one's buying? What if no one's listening for that matter?
Do you stop marketing? Of course not. Marketing just needs to be more meaningful and relevant to a "consumer" who is looking for more relevance and meaning in their lives. They'll repay you with loyalty and positive word of mouth if you can offer them this—but here lies the rub. Marketing was invented to take, not give. It's meant to generate awareness and sell products not provide value. There's nothing wrong with selling products and the best marketing does this well. But if the sociologists mentioned in The Economist are correct, than marketing may have to change it's stripes in order to be relevant to a consumer who is highly empowered, connected and asking themselves "do I really need more"?
read more >>
