Economy Of Participation

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The Culture And Economy Of Participation: Futurist Gerd Leonhard @ Cyprus Emergence2009 etourism event

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Economy Of Participation

  1. 1. Gerd Leonhard Media Futurist The Culture & Economy of Participation
  2. 2. 2009: Gerd Leonhard Media Futurist Disruption Reinvention
  3. 3. Gerd Leonhard Media Futurist The global economic fabric has changed Some trusted old business models seem to have suddenly stopped working (banking & financial, content & media, energy) Dominance is less feasible - and much less needed; Collaboration emerges as success formula Open systems are starting to ‘win- win’ everywhere
  4. 4. Gerd Leonhard Media Futurist A crucial shift:
  5. 5. Gerd Leonhard Media Futurist
  6. 6. Gerd Leonhard Media Futurist
  7. 7. Gerd Leonhard Media Futurist • Word of Mouth & Mouse • User- derived- Content (UGC) 10 / 2008: more than 20 million traveler reviews and opinions in six languages
  8. 8. Gerd Leonhard Media Futurist o n t i u p s r D i
  9. 9. Gerd Leonhard Media Futurist
  10. 10. The Future of Marketing Gerd Leonhard Media Futurist Interrupt to sell ‘Own the customer’ Centralized Attract Engage Decentralized Own TRUST 10 7.5 5 2.5 0 Now 2010 2012 2015
  11. 11. Gerd Leonhard Media Futurist Disruption Example: Publishing
  12. 12. Gerd Leonhard Media Futurist Ever ythin deliv g ge ered ts elec in tron ic fo rm
  13. 13. Gerd Leonhard Media Futurist
  14. 14. Gerd Leonhard Media Futurist So...
  15. 15. Gerd Leonhard Media Futurist A good case study - the music industry
  16. 16. Gerd Leonhard Media Futurist Learings from the music industry
  17. 17. And all of this because of: Gerd Leonhard Media Futurist • Refusing participation • Ignoring requests for engagement • Severe lack of REALLY understanding the next generation of consumers & users • Way too little way too late
  18. 18. Gerd Leonhard Media Futurist So, questioning your assumptions is crucial
  19. 19. Gerd Leonhard Media Futurist From a major international tour operator’s website: Will the Internet take over from traditional sales channels in the longer term? “This is unlikely to happen because, just as the Internet is becoming ever easier to use to book vacations, people’s holiday wishes and ideas are growing ever more complex. The Internet, as a simple sales platform, is not sufficient on its own to cope with this complexity... customers attach a lot of value to receiving personal and exclusive advice. And that’s why .... continues to devote much of its attention and resources to personal customer contact...”
  20. 20. This is NOT about Technology Gerd Leonhard Media Futurist
  21. 21. Gerd Leonhard Media Futurist
  22. 22. Now Consumers... dictate! Gerd Leonhard Media Futurist
  23. 23. Gerd Leonhard Media Futurist What if your Marketing would reflect these shifts: • Information becomes Conversation (Google vs Twitter) • Web Search becomes Social Search (Yahoo vs Facebook, Friendfeed, Twitter) • Data as Context becomes Social Network as Context
  24. 24. Gerd Leonhard Media Futurist
  25. 25. Gerd Leonhard Media Futurist Finding and being Found
  26. 26. Gerd Leonhard Media Futurist Offer real conversations using all these tools:
  27. 27. Gerd Leonhard Media Futurist Now, Networked beats ‘The Network’ * but yes, size will still matter Large Operators
  28. 28. Gerd Leonhard Media Futurist Adding value AROUND the Content
  29. 29. Gerd Leonhard Media Futurist Example: great food and great experience
  30. 30. Gerd Leonhard Media Futurist The importance of Personalization
  31. 31. Gerd Leonhard Media Futurist The Key: the Future Masses are... Individuals! Personalization Customization Sharing Engagement Transparency Participation
  32. 32. Gerd Leonhard Media Futurist Let your fans do your marketing for you
  33. 33. The Future Hits are... Niches Gerd Leonhard Media Futurist Source: VerminInc @ Flickr
  34. 34. Gerd Leonhard Media Futurist $ 100 Million worth of handmade goods sold in 2008 Over $1 Million in revenue per month
  35. 35. Gerd Leonhard Media Futurist and now it’s all about Attention Where ever attention flows, money will follow Kevin Kelly @ kk.org
  36. 36. Gerd Leonhard Media Futurist
  37. 37. Broadband Gerd Leonhard Media Futurist C u l tu r e
  38. 38. Gerd Leonhard Media Futurist Broadband Culture Opportunities • Filter • Aggregate • Curate • Contextualize • Be trusted
  39. 39. Gerd Leonhard Media Futurist What this may mean for you Open communications is a must (yes... blogs...Twitter... ;) Marketing focus shifts to Video, Social Networks, Mobile Maximizing your Google Juice is crucial Customer experience online becomes drastically more important
  40. 40. Gerd Leonhard Media Futurist Good Storytelling is more crucial than ever before
  41. 41. Gerd Leonhard Media Futurist
  42. 42. Gerd Leonhard Media Futurist Some ideas • Start blogging: show people that you want conversations • Use video: add value for customers and destinations • Switch to Pull (retire Push) in Marketing, Communications • Start your own social network • Get involved or run Facebook communities • Launch and use Mobile applications (Cyprus game for iPhone?) • Launch Twitter channels • Offer Widgets (Desktop, web, mobile) • Invest in Web 2.0 technology
  43. 43. Gerd Leonhard Media Futurist Summary Attention is the new Currency Content is the new Advertising Engagement is the new Marketing Participation is the new Consumption
  44. 44. Gerd Leonhard Media Futurist "When the winds of change are blowing, some people are building shelters - others are building windmills." Chinese Proverb
  45. 45. Gerd Leonhard Media Futurist Thanks for listening Gerd Leonhard www.mediafuturist.com Twitter.com/gleonhard gerd@mediafuturist.com

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