The customer is no longer the King.
It used to be much easier. Back in the days, it was enough to put money on the table, have a creative advertising campaign developed by a renowned agency and off you go to spread the good news into the world with huge fireworks. And the rule was simple: The more money you had, the louder you could scream and the bigger you brand became.
Those days are long gone. The attention is now divided and distributed among new channels. Mainly digital channels. Companies and brands are desperately seeking for attention and are trying to buy it. But even on YouTube more than 90% of the customers click on “Skip ad” (probably the other 10% don’t really know what “skip ad” means). Welcome to the new reality, where even when paid advertisement needs to earn attention!
However, companies and brands are looking for the answer to the wrong question. Everyone wants to know “ How? “ … How do I reach 1 million Views on YouTube or Likes on Facebook or Followers on Twitter? As an expert in digital and social media environment I hear these questions constantly…. But it is the wrong question. Companies and brands must first ask themselves the question “Why?“. Why does YouTube, Facebook, Twitter & Co. work?
The answer is simple, but it involves an enormous strategic scope: There is a new kind of customer out there…
The customer is no longer the King; the customer is now Mr. President.
I am often asked how did I come to this conclusion. Well, I come from Spain. There we actually still have a King. Recently, we even went through a spectacular King-Relaunch…
For decades, we claimed that the customer is the King. And that’s how we treated him: courted, buttered — often with empty words — and rolled out a red carpet. But this is not what the new customer wants. Why? Because today the King has no power. However, the customer wants to be taken seriously. He wants to have a say. The customer has gained the upper hand. He has gained a new self-awareness and a new understanding of power. The King is merely a figurehead. But the customer is now Mr. President, the most powerful person in the world. And the customer knows it. But most companies do not seem to know it or to act upon consistently. They continue talking “at” customers as opposed to “with” them. The customer wants a seat at the table. Wants to be taken serious. Companies don’t seem to be ready for it…
What does this mean for companies and brands?
In order to clarify this once and for all: There is no turning back. Heal your wounds and look ahead! If you don’t like this new reality, you should leave the field. Somewhere out there, there is a Start-up with enough hunger and desire to have your slice of the pie!
Three crucial points are now required. If you take it serious and manage to transform your thinking into this new paradigm, you might have a chance…it is not complicated, but it does require an incredible amount of courage, which is why so many are trying to avoid it. If you want to be successful today you must change the culture of your company. Your thinking. Your view of the world. Try to build your strategy delivering on three key factors:
1. INTERACTION: from the one-sided, controlled, company-wide message to personalized, open, collaborative dialogue, from person to person… Everyone is an ambassador and a contact person. Not only the company’s spokesman. You need to be able to offer answers and engage in a dialogue at every level and in all channels.
2. TRANSPARENCY AND AUTHENTICITY: For years companies have mastered the art of communicating without saying much. But also here something has fundamentally changed: Information is public. Companies need to discover for themselves honesty in the dialogue. If you fail to deliver, say so. Be honest. Be human.
3. SPEED: Everyone is a journalist or an editor. Anyone can at any time produce and spread Information without any technical knowledge or investment. Brands have to react and respond at the same speed in order not to miss the dialogue and to communicate one-sided.
The conversation takes place either way. You are invited to join, provided you are open, interactive, transparent, authentic and fast enough … Are you? Are you ready?
Over to you: What examples do you have of companies and brands that do a great job? Or a particularly poor job? And if you like this article, don’t forget to clap all you got ;)
German Ramirez is a Digital, Social Media & Blockchain pioneer. Serial entrepreneur with over 20 years of strategy, marketing, branding, communications and storytelling experience. Author & keynote speaker. Co-Founder & Chief Relevance Officer @ THE RELEVANCE HOUSE.
