The information economy is dead: What CMOs should do now

Abstract

We are entering the third wave of marketing. The Attention Economy gave us the rise of brands and mass advertising. The Information Economy provided technology and big data. Marketers who want to be successful in the Insight Economy™ cannot rely on the strategies and tactics that were effective in those times. They must focus on six areas. One, continue to put customers first by understanding what they really want — not just what they say — so they will take action. Two, build trust, respect and loyalty on both sides. Three, create innovations that disrupt customer expectations and the market. Four, develop hyper evolutions of products and services, not just incremental improvements. Five, share authentic values with customers. Six, combine business and brand — truly bonding with customers. TXU Energy offers a unique example of how this model works, while Weight Watchers presents a cautionary tale. Marketers are in a unique position to lead this process, reaping rewards for their organisations and themselves.