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Many of you may have heard that markets across the globe are fracturing into ever-finer segments. You may have also heard that this is been driven by the rise of social media.
But if people are getting together to discuss specific interests and this is leading to an emergence of ‘new markets’, then surely these interest groups must have existed already. It’s just that we didn’t know about them. So in this sense, social media doesn’t ‘create’ new markets and market segments. It just identifies them.
The mountain of data that social media produces can now shine a light on who these people are and what they like. And voila! — we have new identifiable and serviceable markets.
Want to grow in this brave new world? Then learn to collect and read the data, then use the tools to communicate with them as they progress down the path towards making a purchasing decision.
All the tools are there and the people are waiting.
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Paul Ryan Reply:
February 24th, 2010 at 4:19 pm
Thanks Ollie.
“Anty-Climax” is the old “Ant Bites” blog (commercial creativity), which was an extension of the old “Think Again” section from the print magazine. Not to be confused with “Anti-Climax” from the back of the old print mag, which as about capital raising and dealflow. We like to keep you on your toes.
We still plan to implement Discus for comments – it was all set up, but was acting erratically so we deactivated it until we could sort it out (apparently Discus support never got back to our developer, so we’ll see).
Cheers,
Paul
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