Mark Bonchek and Cara France, writing in “The Harvard Business Review,” provide “A Cheat Sheet for Marketers on the Future of Digital Platforms.”
Marketers need to understand the future of consumer engagement on digital platforms, such as Twitter, Facebook, LinkedIn, Pinterest, YouTube, SnapChat, and Instagram. Bonchek and France discuss the seven Ps of these platforms:
- People-digital and social platforms empower customers, employees, and citizens by removing friction in the flow of information and communication.
- Participate-platforms are two-sided networks that encourage the creation of communities of users and participants.
- Personalize-platforms will help filter the information being received and provide experiences that are more personalized, relevant, and meaningful.
- Product-platforms are becoming more integrated into products and services. There will be a convergence of digital platforms and connected devices, which will impact the relationship between products and platforms.
- Process-companies are adopting platforms that will impact business processes and organizational management.
- Pay-there will be greater integration of e-commerce and social networks on digital platforms.
- Partner-companies will need to improve their partnership and collaboration efforts to create opportunities for brands to form alliances.
The authors believe that companies can achieve increased brand engagement by involving and empowering customers.
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