A few months back, I wrote a post about evolution. In the post, Evolve or Die, I was focused on the conversation that occurred between organisations and consumers and organisations and its employees. The point I was made was that organisations, which did not take into consideration the ideas and/or issues that both parties (consumer/employee) had were going to die because business is changing. The top-down communication model is quickly disintegrating, as is the way we communicate on a daily basis with one another. Really, this isn’t anything new. It’s been shifting just as Web 2.0 is transitioning into Web 3.0.
A few days ago, I wrote about Jetstar’s transition of its marketing budget. I feel like it’s an important enough topic to talk some more about it. Not the surface stuff, but rather the stuff behind the scenes…the research that is being done which backs the Jetstar transition 100% and proves their decision was the smartest one they could have made at this point. Thus, the paradigm shift…the “evolve or die”…the choice every organisation now has.
Attitude shifts have brought “human” back to humans. Technological evolution has changed us. The dominant medium in which we communicate and get our information from is now the Internet which in turn, is stifling television, radio and print.

This chart recognises that Internet users ranging from 18-55+ is over 15 hours per week. It’s safe to say that if you are not where your audience is, you become irrelevant, especially during this time where Australia leads the world in global social network usage.

In short, traditional media is in retreat. Still not convinced? The US newspaper industry closed nearly 100 publications in 2009. In 2007, it was around 10.

Advertisers are beginning to understand that their money is best spent where their audiences are, which is why so many publications shut down. Will traditional papers die out completely? I don’t believe so. I think there are powerhouses out there that will be able to keep some traction but they will become just that…powerhouses. There won’t be much competition.
So what now? Change. Evolve. Understand what social media is. Understand what it means to communicate one on one with the people who support you. Understand that every voice counts and that consumers are much more than consumers. They are / will be the lifeblood of business because they are gravitating toward those companies and organisations who are in the same social space they’re in. They are gravitating to the platforms that are inviting, where interaction can take place, where they hear from their peers to find out where the best pizza joint is…who the best mechanic is…which computer and phone company gives the best customer service. Social media provides multi-directional participation, which is the advantage over traditional media. I don’t think it can get any clearer than that. Which would you prefer: Being talked to or being talked with?

Here are some of the differences we’ve found overall.

I don’t want to squash anyone’s idea of traditional marketing. I think that in some circumstances and for some organisations, traditional marketing is necessary. After all, I personally enjoy a great outdoor poster as I’m driving down the road, or a funny TVC that gives me a surprising laugh. So please don’t let the take away be that I am anti-traditional marketing. (Note: Jetstar is shifting 40% of its marketing budget…not 100%.) What I am saying is that social media and having your own social platform is becoming more and more important today. Infact, I’d go as far to say that you’re missing a major opportunity for your business if you don’t embrace this paradigm shift.
All of these things are very real and extremely relevant. Talk with your friends. What are their thoughts? Where are they hanging out? It’s time to stop asking questions pertaining to “what’s in it for us?” Can we stop and focus on “what’s in it for them? Everything else will just come naturally.
posted by Piers Hogarth-Scott in the category Media Social Media Social networking
Tags: Forrester, global social network useage, media consumption, nielsen