The "word of mouth" references customers share with each other have always been more important to a business than any amount of advertising or sales effort. But with the personal mobile technology (PMT) available today, and even richer connectivity tomorrow, word-of-mouth will eventually be the dominant means by which market knowledge (and perhaps most knowledge) is disseminated among people. The video and photo capabilities of PMT will help people connect to each other, while at the same time threatening personal privacy in unprecedented ways.
From posted reviews to online user groups to social networks, customers can use PMT to "co-create" their own products and specify their own service levels. They will use PMT to band together and submit collective bids to sellers. They will use it to confirm "presence" in a physical location, such as a stadium, or a shopping mall. They will use it to track individual people, whether friends and loved ones or spouses suspected of infidelity. And even though networks of consumers will act rationally most of the time, occasional episodes of irrationality and unpredictability can still turn your business into an overnight success or ruin it in a flash, for no apparent reason.
In this keynote presentation, best-selling business author and consultant Don Peppers mixes humor, inspiration and analysis to paint an irresistibly compelling picture of business competition in the 21st Century, when pervasive and inexpensive PMT empowers consumers to connect at will
New Marketing Summit: Dancing Shoes for Honeybees - Don Peppers
1. Dancing Shoes for Honeybees Customer Empowerment and Personal Mobile Technology Don Peppers New Marketing Summit Boston 14 Oct 2008
2. Competing in the customer-centric dimension Maximize the value created by each customer Maximize the value created by each product Share of customer Market share Customer Needs Satisfied Customers Reached Product-Centric Marketing Customer-Centric Marketing
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8. The Honeybee “Waggle Dance” Source: Bienentanz, Gesellschaft fur Kommunikation, Berlin, 2002
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21. At one telecom company Source: “How Valuable is Word of Mouth?” Harvard Business Review, October 2007
