Bob Dylan's ballad to change (1964) is relevant today
Come, gather round people wherever you roam
And admit that the waters around you have grown
And accept it that soon you'll be drenched to the bone
If your time to you is worth saving
Then you'd better start swimming or you'll sink like a stone
For the times, they are a changing
A CBC story on Thursday highlighted 1,000 layoffs at BBC and a complete refactoring of Britain's national broadcaster. This response to change bares further scrutiny.
Last month, the BBC's Head of News, James Harding, predicted that by the end of the next decade (2025) most people in the United Kingdom would receive their program content over the Internet. He also said:
"The Internet has ripped a hole in the business model of many great news organisations."
More recently BBC, Director General, Tony Hall admitted:
"There are very tough things happening out there and the hard choice that is happening to us is that the number of households with TVs is diminishing, slowly, but it is diminishing."
'Ripped a hole in the business model', really??
Clients view the Internet as the best thing that has ever happened to the 'news' business. The Internet has accelerated news collection, improved distribution and eliminating cost. What the BBC and other broadcasters didn't anticipate was a need to move strategies from 'scarcity' (available only from the BBC) to one of 'abundance' (available everywhere, at anytime, from everyone) and the impact that would have on it's advertising revenue model.
'The number of households with TVs is diminishing', pardon me??
NOW HEAR THIS - Mr. Hall you are measuring the wrong thing. According to a recent report in Mobile Marketing, more than 72 of 100 prospective and existing BBC customers have a smartphone and that number jumped 14% in the last ten months. According to Deloitte, smart phone usage in the UK will reach 95% and become ubiquitous by 2020. Mr. Hall, everyone of these consumers can be served your product without a TV. The number of TVs is irrelevant.
One can observe the pain in 'Broadcaster Speak' coming from Harding and Hall, but as Dylan sings '..you'd better start swimming or you'll sink like a stone, for the times, they are a changing'.
Around the globe, the major scramble to find sustainable practices in a landscape of rapidly shifting consumer behaviors features advertising agencies, content providers, broadcasters and media companies. Many of these players were the 'wise' Rulers that governed communication and contact with the consumer. Retailers and brand companies paid homage and lots of 'gold' to the reigning experts of the day. These experts charged their clients according to some magical formula based on ratings, views, impressions and eye balls. The cost of campaigns often defied forecasting logic and many had a pay back (ROI) that resembled Roulette.
Today the fears of marketing directors and brand developers is palpable. Consumers are enjoying a new world where they reign supreme. Legislators are busy shutting down direct marketing schemes in the name of consumer protection, anti-spam and privacy.
In the evolving paradigm, consumer skepticism regarding how 'big data', 'likes' and 'pluses' are manipulating their online experience has undermined brand marketing strategies and tactics. Together these trends add volatility, uncertainty, complexity and ambiguity to an environment where enriching the consumer experience is paramount.
In this new world, one would do well to understand the client life cycle as a series of episodes. Eliminating spin and hype, while developing a reputation for authentic, transparent communication will serve clients in a continuum of trust and a relationship that extends over their lifetime.
The times they are a changing. Anticipating change as the new norm will give service and content providers fewer surprises and many more opportunities.
About Guest Editor Larry Evans:
Larry R. Evans is a futurist, a brand developer and a collaboration advocate. He is the Principal Adviser for The Paradigm Corporation, which is headquartered at Thunder Ridge just outside Crossfield, Alberta, Canada. He is known for bringing a unique and predictive lens to paradigm shifts during a career that spans 45 years. Now from his wheel chair, he brings a grounded but tenacious view of client rights and relationships in the digital age. His perspective and values influence his life, business and ministry.
