The Conversation Economy
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The document discusses the rise of the "conversation economy", where people are spending more time engaged in dialogues through mediums like the internet and cellphones, rather than just listening to broadcast media. It notes that trust in corporations is at its lowest point, and people are more likely to believe what they hear about companies from friends rather than advertising. It argues that brands need to find ways to become part of conversations to shape people's perceptions, through interesting innovation, marketing, and embracing, joining, and harnessing ongoing conversations.
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The Conversation Economy
- 1. THE CONVERSATION ECONOMY JAMES HURMAN APRIL 2009
- 2. 60 50 40 CSR SPEND 30 20 10 0 1950s 1960s 1970s 1980s 1990s 2002 2004 2006
- 3. “TRUST IN CORPORATIONS IS NOW AT ITS LOWEST LEVEL SINCE TRACKING BEGAN.” WORLD ECONOMIC FORUM GLOBAL SURVEY 2005 60 50 40 CSR SPEND 30 “I TRUST BUSINESS PEOPLE 20 TO DO THE RIGHT THING MOST OR ALL OF THE TIME” 10 0 1950s 1960s 1970s 1980s 1990s 2002 2004 2006 SOURCE: YANKELOVICH 2006
- 4. WHY?
- 6. PEOPLE ARE SPENDING MORE TIME TALKING THAN LISTENING 2500 2000 HOURS SPENT WITH 1500 BROADCAST MEDIA - TV, RADIO, PRESS ETC 1000 HOURS SPENT WITH DIALOGUE MEDIA - INTERNET, CELLPHONES ETC 500 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 SOURCE: VSS FORECAST 2006
- 7. SOME SAY WE’RE HAVING TOO MANY CONVERSATIONS
- 8. SOMETIMES, THE CONVERSATIONS ARE ABOUT YOU
- 9. SOMETIMES, THE CONVERSATIONS ARE ABOUT YOU
- 10. SOMETIMES, THE CONVERSATIONS ARE ABOUT YOU
- 11. SOMETIMES, THE CONVERSATIONS ARE ABOUT YOU
- 12. SOMETIMES, THE CONVERSATIONS ARE ABOUT YOU
- 13. THE TRUTH IS DEMOCRATISED…
- 14. …AND SEARCH ENGINE OPTIMISED…
- 15. …AND GOOGLE IS YOUR HOMEPAGE
- 16. “UP UNTIL 2002, 78% OF CONSUMERS SAID ADVERTISING WAS A GOOD WAY TO LEARN ABOUT NEW PRODUCTS. IN THE FOUR YEARS THAT FOLLOWED, THAT FIGURE DROPPED TO 53%.” FORRESTER RESEARCH 2006
- 17. PEOPLE BELIEVE THE CONVERSATIONS 24% 50% OF PEOPLE BELIEVE TRUST WHAT THEY HEAR ABOUT COMPANIES TELL THE A COMPANY FROM THEIR TRUTH IN ADVERTISING FRIENDS AND PEERS SOURCE: YANKELOVICH
- 18. PEOPLE BELIEVE THE CONVERSATIONS
- 19. PEOPLE ARE HAVING MORE CONVERSATIONS, WITH MORE PEOPLE, MORE OF THE TIME THOSE CONVERSATIONS ARE OFTEN ABOUT OUR BRANDS OUR CUSTOMERS TRUST THOSE CONVERSATIONS MUCH MORE THAN THEY DO OUR MARKETING MESSAGES
- 20. PEOPLE ARE HAVING MORE CONVERSATIONS, WITH MORE PEOPLE, MORE OF THE TIME THOSE CONVERSATIONS ARE OFTEN ABOUT OUR BRANDS OUR CUSTOMERS TRUST THOSE CONVERSATIONS MUCH MORE THAN THEY DO OUR MARKETING MESSAGES PEOPLES’ PERCEPTIONS OF OUR BRANDS ARE BEING SHAPED MORE AND MORE BY CONVERSATIONS AND LESS AND LESS BY MARKETING MESSAGES
- 21. PEOPLE ARE HAVING MORE CONVERSATIONS, WITH MORE PEOPLE, MORE OF THE TIME THOSE CONVERSATIONS ARE OFTEN ABOUT OUR BRANDS OUR CUSTOMERS TRUST THOSE CONVERSATIONS MUCH MORE THAN THEY DO OUR MARKETING MESSAGES PEOPLES’ PERCEPTIONS OF OUR BRANDS ARE BEING SHAPED MORE AND MORE BY CONVERSATIONS AND LESS AND LESS BY MARKETING MESSAGES OH FUCK!
- 22. HOW DO WE MAKE SURE OUR BRANDS ARE PART OF THE CONVERSATION?
- 23. “PEOPLE DON’T READ ADS. THEY READ THINGS THAT INTEREST THEM. SOMETIMES THAT HAPPENS TO BE AN AD.” HOWARD GOSSAGE 1955
- 24. “PEOPLE DON’T TALK ABOUT BRANDS. THEY TALK ABOUT THINGS THAT INTEREST THEM. SOMETIMES THAT HAPPENS TO BE A BRAND.” HOWARD GOSSAGE 2009
- 25. SUSAN BOYLE IS INTERESTING
- 26. INTERESTING INNOVATION CREATES CONVERSATION
- 27. HOW INTERESTING ARE YOU?
- 28. HOW INTERESTING ARE YOU?
- 29. HOW INTERESTING ARE YOU?
- 30. HOW INTERESTING ARE YOU?
- 31. HOW INTERESTING ARE YOU?
- 32. INTERESTING MARKETING CREATES CONVERSATION
- 33. HOW INTERESTING ARE YOU?
- 34. HOW INTERESTING ARE YOU?
- 35. HOW INTERESTING ARE YOU?
- 36. HOW INTERESTING ARE YOU? “It’s the sort of ad I’d talk about with friends” NZ norm: 23% The Big V: 73% SOURCE: COLMAR BRUNTON 2008
- 37. HOW INTERESTING ARE YOU?
- 38. IN THE CONVERSATION ECONOMY IT’S VITAL TO BE INTERESTING
- 39. IN THE CONVERSATION ECONOMY IT’S VITAL TO BE INTERESTING HOW DO YOU GO FROM JUST HAVING CONVERSATIONS TO MAKING THEM WORK FOR YOU?
- 46. THANK YOU