The balance of power is shifting toward consumers and away from companies… The right way to respond to this if you are a company is to put the vast majority of your energy, attention, and dollars into building a great product or service and put a smaller amount into shouting about it, marketing it. In the old world, you devoted 30% of your time to building a great service and 70% of your time to shouting about it. In the new world, that inverts, Bezos continued. Are you too focused on how you talk about your business and not on what it actually does? The very best businesses acquire customers organically without advertising. Great products and word of mouth drives sales at these companies. By contrast, companies which must sell their wares with huge advertising budgets are losing their edge in the Internet era, comments Griffin.
Posted on: Thu, 08 May 2014 14:47:42 +0000
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