Changes in media consumption throughout the years has created and destroyed industries.
The creation of telecommunications allowed organisations to speak to their consumers, partners and suppliers across the globe with ease. The rise of the internet gave businesses the opportunity to market to a long tail of consumers, with ecommerce removing the need for high shop front overheads. The birth of the iTunes AppStore led to a boom in the developer industry and thus giving every 15 year old who knew how to code a potential revenue stream.
Although these may be dramatic examples, as an organisation you should always be aware of changes in consumer media consumption – not only for opportunities for your business, but as watch-outs of falling behind your competitors. Has your competition latched onto a new trend and is grasping the opportunity to deliver a great customer experience in an untapped medium? Have a look at what Pepsi is doing to take advantage of the recent geo-location check-in boom.
Check out the Deloitte State of the Media Democracy survey for the latest in changing media consumption, most notably a return to television consumption.
