What is marketing 3.0?
Philip Kotler, a guru in marketing, released a book called Marketing 3.0 in which he discusses how people are searching for meaning, identity and spirituality. People want to have context, meaning and purpose not just on a personal level but in their wider sphere of relationships and that includes businesses and brands. Social media then enables people to search and find like minded people who have common values, interests and this is the focus for marketing 3.0 to help build upon these and internalise them.
Marketing 3.0 – The Creative Groundswell
Creative expression is one of the most interesting outcomes of social media. Whole communities are now focused on producing, publishing and sharing their creative ideas, images, art even commercially e.g. Etsy and Pinterest are platforms that are morphing creative identity with commercial interests e.g. fashion…. Social media has been the enabler for expression, the canvas upon which people may create and share their imaginative energies. Social media marketing is defined now not simply as broadcasting but the facilitation of content and conversations, this is marketing 3.0.
It is collective thinking on a scale unimaginable years ago. But creativity is not just about artistic expression, it is also the bedrock for change, a place for ideas to be sown, nurtured and grow into the causes that muster people and cause a groundswell. Marketing 3.0 is the landscape upon which organisations lay their foundations, their goals, their direction their purpose and how they will relate to their customers. The social media channels then represent opportunities to communicate, collaborate and co-create; to facilitate their role as leaders. Of course not everyone is a creator, but creators need audiences to spread the word and marketing 3.0 recognises the need for others to take the ideas and build on them - a digital ecosystem where the many roles interact to form a unifying force (marketing 3.0 depends on tribes).
Social media has the potential to realise the goals of marketing 3.0
Marketing 3.0 – the pace & scale of change
When you realise the speed and scale of change its amazing but when you consider what is being achieved as a result of these changes it is remarkable. and this shows the potential for marketing 3.0. It is collective sharing, thinking and collaboration driven by social media that is the driving force behind these changes, it is the seeds of marketing 3.0. Communities or tribes are fundamental to the idea of social media and the key human elements within marketing 3.0. These tribes propel innovation forward and innovation is vital to the success of economies and businesses alike. The implication is that those harness these forces of change will create competitive advantage as their new products or services better meet the needs of niche customer segments.
Why is Marketing 3.0 important?
People see a disconnect between companies and their true practices and values; and the brands and products they promote. However, social media is taking centre stage in facilitating change. Corruption and greed, that puts people and society at risk, are all increasingly becoming transparent via social media e.g. Bp, KitKat and even as I write this there is the scandal with Barclays Bank - the complete opposite of marketing 3.0
What is driving marketing 3.0?
We all are. We are spending more time online and as a result part of the marketing 3.0 change. The average American spends more than 60 hours a month online. This is the equivalent of 30 straight days a year. Social media accounts for 22 percent of the time, and 42 percent is spent viewing content.
What does marketing 3.0 mean for most businesses?
Brian Solis often discusses the idea of relevance and resonance as important to meet the requirement of being able to engage target audiences. I agree with Brian, but also think that the principle of knowing your purpose is more important since it encapsulates these elements of relevance and resonance (and both are very important to marketing 3.0).
Marketing 3.0 focuses on the need for a well defined purpose to be relevant to its customers and resonate with their believes, values and the context of their community. The ‘what purpose do I fulfil for my customers’ is central question to marketing 3.0? Get this right and you have got a basis for a sustainable strategy. But the purpose should not be to make money or to hit profits for shareholders; it is about what value you deliver to a broader society as well as your community of customers. What are you doing to address their concerns – environmental, social…these are important values for people. Marketing 3.0 moves the bigger corporate responsibility questions to the front of the agenda, not as PR opportunities but meaningful debates about the direction and goals of the business.
Harness the power of marketing 3.0
Social media can seem daunting to some businesses because it covers so many areas of the business and so many disciplines want to own it – PR, marketing, CRM, sales, operations…. To try to achieve and plan a large and holistic entry into social media is unrealistic for most companies. Cultural change takes time and requires considerable leadership and management input and coordination to get right. Likewise marketing 3.0 is not an overnight switch, it is the long game to achieve sustainable context with your customers and together meet their changing needs.
Critically it is important to bring together people from within the business who use social media. Coordinating a group focused on developing social media for business (social business) forms the foundation for broader company coordination and harmonization. Companies can though start pilot projects in social media, develop change agents to help develop case studies, develop learning and provide the stage for broader cultural change and a more integrated approach. Each company needs its own tribal community of passionate supporters (employees) that are the advocates and collectively believe int he purpose and cause. As a result they will deliver more than the sum of their parts and be happy.
The fact is that change is going to happen, companies need to start the process themselves rather than be caught out. Simon Sinek in his Ted talk brings together some of these points and argues that people don’t buy what you do, they buy Why you do it (purpose). Marketing 3.0 is an interesting perspective to view your business – what do you think?