Let’s state the obvious: marketing is changing – fast. With the onset of the digital age, industries across the board are evolving to meet new digital demands. As consumers become increasingly (technologically) empowered, we’re seeing a consumer-centric market develop – one where consumers are in control. Leveraging social media, mobile video technology, and online communities, consumers now have a voice – sharing everything from product inquiries to brand reviews. In fact, it’s safe to say that, with the myriad information sources available to them today, consumers now know more about your product than you do. So what does this mean for brands? That they need to re-evaluate their marketing strategy if they want to stay relevant and continue to satisfy consumer needs.
As the focus of marketing changes from the product to the consumer, we are seeing a monumental shift in foundational marketing concepts. Specifically, a shift away from the 4 P’s – product, place, price, and promotion – to the 4 C’s, or – consumer (wants and needs), cost (to satisfy), convenience (to buy), and communication. While the 4 P’s represent the textbook days of marketing, the 4 C’s represent the new age of marketing – where true value lies in putting the consumer at the center of your strategy. But doing so requires intimate access to consumers’ lives – it requires getting into their bathrooms early in the morning; watching them make dinner for their families; observing how they clean their kitchens. Because only once you develop this 360 degree view of your consumer can you successfully integrate the voice and face of the consumer directly into your marketing.
To successfully immerse yourself into consumers’ lives, however, requires the right solution – one that elicits a level of candor from consumers that drives meaningful insights. And an online asynchronous video methodology does just that. Leveraging digital tools that empower participants to respond on their own time, in privacy, and within a moment of truth, you get unprecedentedly rich, candid insights that drive a consumer-centric marketing strategy. By incorporating the consumer – the most important stakeholder – into the product development process, you can drive innovation and ultimately add true business value.