Psychology of Consumer Behaviour

Brandon Evans on benefits and importance of crowdsourcing

 

"Every two days now we create as much information as we did from the dawn of civilization up until 2003." - Eric Schmidt, former CEO of Google

There's no better stat than Eric Schmidt's to illustrate how radically the amount of information available to people has expanded. Just a decade ago, marketers were able to control much of the messaging that consumers viewed about their brands.

 

The amount of messages consumers saw was also still relatively manageable, so reaching them solely via mass media remained a sound strategy. Today, the amount and speed of information and innovation are quickly rendering the formula marketers have used over the past few decades ineffective.

 

Read more: http://www.marketingprofs.com/articles/2011/5785/the-future-of-marketing-is-crowdsourced#ixzz1WR5LrOWi

Via janlgordon

We asked Mark Cuban, Dennis Crowley, Gina Bianchini, and more than a dozen others. Here's what they said.

 

This article by Dan Frommer and Jen Ortiz for Business Insider links to a slideshow with quotes from major Social Media company CEOs and co-founders, intellectuals and a Curated Twitter persona, among others about their takes on the future of Social Media. 

 

Here's just one of them, from Dae Mellencamp, CEO of Vimeo:

 

**** "The future of social media is the loss of the distinction between media and social interaction online. Mass media and social media will be seamlessly integrated across devices and platforms to offer relevant, dynamic, personalized experiences for people anywhere.

 

**Discoverability and the import of editorial curation will not be lost, but rather inherently incorporated into the environments for richer and more customized experiences."

 

The full article has many more gems and is well worth a few minutes of your time!

 

Read full article: [http://read.bi/tgVOQe]

Via janlgordon