July 8, 2017

#503. The Future of Marketing is Now. With Jon Wuebben.

Jon Wuebben, Founder and CEO of Content Launch, author of  Content is Currency: Developing Powerful Content for Web and Mobile, and Future Marketing: Winning in the Prosumer Age, joins me for the second time on this episode of #Accelerate!

KEY TAKEAWAYS

[1:21] Prosumer is a term coined by Alvin Toffler in The Third Wave, meaning producer and consumer in one. Jon says our interactions with Amazon and Facebook equal production and consumption of content. This is the Prosumer Age.

[3:09] Prosumers may not be direct customers, but they help determine marketing. Prosumers are breaking down the wall between company and customer in new ways with new tech.

[4:39] The customer experience is a collaborative process, especially B2B. Jon equates prosumer and customer experience. The Prosumer Age will grow in the next 10 years.

[5:51] Jon discusses megatrends — innovating to zero (carbon emissions, etc.), zero concept world (zero defects, zero breaches of security), mass efficiency.

[6:23] In many industries there is a zero point that is desirable to achieve. There is much waste today, and room for efficiencies across the board in every production process.

[8:32] Herbert Simon wrote about being overwhelmed by information, and making choices for the best investment. Andy points out overuse of technology can make us less focused.

[10:06] The sharing economy will become a bigger trend. Uber drivers have freedom of time they didn’t have in an office. Connectivity and convergence is a trend. In 2020 there will be five billion web users — with 50% on tablets.

[15:26] Jon discusses accuracy of prediction. Whether disruption will provide economic efficiency is to be seen. We need strong committed leaders to ‘usher in’ this new age.

[17:11] In near term, content marketing is a big trend, but as we produce more content, individual contributions are less effective, through competition for attention. Be on the forefront of what’s next. Use VR, or the next thing, for content.

[19:33] Native advertising is material within your blog or site, that resembles your content, but is a paid promotion. Influencer marketing uses influence partner’s networks to your advantage.

[23:33] Purpose-driven marketing refers to social purpose, important to Millennials and Generation Z. They want it to be authentic — not a campaign, but a culture. Jon suggests how a company can identify their purpose.

[27:41] Jon replaces the four Ps (Product, Price, Promotion, and Place) with EP2, which stands for Engagement, Experiences, Personalization, and Passion. This centers in every way about the prosumer, not about the company.

[29:50] Jon foresees a niche explosion replacing the mass market. The more focused on the customer, the more tightly defined a group you can serve, with more success. Big data drives this trend.