The best presentation at this years CMA’s National Convention & Trade Show was from Don Tapscott, of New Paradigm". Author of Wikinomics, Don spoke on the transformation of marketing, and described the web as "becoming a new form of production," as all users connect to it and collaborate.
Don outlined four drivers for this shift of the web, and provided detailed examples and metrics to buttress his claims. While the concepts might be straight-forward, when integrated they become a highly thought-out and developed map for change:
- The "new" web -> Web 2.0 (consisting of a variety of mediums):
- The Thing – the utility we use to connect to the web.
- The availability of broadband mobility, and high-bandwidth capable devices
- Geo-Spaciality – The availability of the web from any location
- True-multimedia
- Web Services
- Integration
- The Net Generation – For the first generation to grow up entirely on digital technologies Don provided the following quote to describe them; "We [the older-than-baby-boomer-children generation] are all digital immigrants, they [the kids] are all digital natives."
- The Social Revolution
- The Economic Revolution (consisting of four caveats);
- Peering
- Transparency – being open
- Sharing -Mass Collaboration
- Acting Globally
Closing his argument, Don argued the the traditional four p’s of marketing (below) have been replaced by his new model:
- Products becomes *Consumer Experiences*
- Place becomes *Anyplace*
- Price becomes *Price Discovery*
- Promotion becomes *Engagement*
As well as adding *The Brand* – the foundation of which is integrity.
Don closed with a memorable quote, noting that "Trust in business is that the other company [you are dealing with] will act with integrity."
Surely if the CMA’s National Convention was a meeting from Star Wars, Don Tapscott would be, as my brother likes to say, "a Jedi Knight of the first order.
Cheers Don!