The primary focus of marketing strategy and promotion used to be to create compelling advertising campaigns that would get the consumer’s attention and drive awareness. Once potential customers were aware of the product, the sales team could then go to work on closing the deal. That business model is no longer effective. In today’s business environment, promotional campaigns are less likely to lead to a sale, simply building awareness and walking away is more likely to enrich your competition.
Successful brands are becoming platforms that do more than just drive consumer behavior, they have to inspire customers to participate. In the digital age, brands are no longer mere corporate assets to be leveraged, but communities of belief and purpose. As digital technology pervades the physical world, the principles of scale are changing in a profound way. Ordinary people are co-creating their experiences with marketers. Products themselves are becoming services. Supply chains are giving way to demand chains. Marketing has changed forever.