It doesn’t take a genius to know that the days of mass marketing are over. But it is taking some time for us to disentangle ourselves from old ways of thinking. Gone are the days when you could produce an ad and blast it out to the compliant masses who would watch, absorb and then automaton-like file out of their homes to purchase our products direct from retailers next day. These days, advertising is a much more complicated business. It’s complicated by technology, social media and the proliferation of channels. But above all, it’s complicated by our audiences – the people who, at the end of the day, buy the products we pitch them. Because people choose the channels and the media that they are interested in, we need new tools to reach, engage and inspire them.
And by new tools, I don’t necessarily just mean technology. I also mean strategy. Products. Processes. We need staff who are interested in the needs and aspirations of others. How do we do this? How do we make it happen? These are some of the things that we are work with clients on at Disruptor’s Handbook.
The thing is, “disruption” doesn’t necessarily have to be a problem. In fact, it can be a catalyst to innovation. This is also something that we work on – reframing disruption to help organisations capitalise on the opportunities that come from disruption. A great way of understanding this opportunity comes from this fantastic presentation from Michael Goldstein.
In this presentation on cultivating and amplifying audiences, Michael talks about the way that we discover, experience and enjoy music. He suggests that we are moving away from “taste dictatorships” and are rejoicing in “genre discovery”. This is a trend that music streaming platforms like Spotify and Pandora are leveraging. But platforms like Boiler Room cultivate a different style of engagement and audience. Beginning as a single live streamed event, Boiler Room has evolved into a live music platform and has now hosted events in over 50 countries and produces around 100 new videos a month. Their eagle-eye focus on both emerging talent and audience engagement has seen enviable growth for the platform along with a growing community.
Does this mean the end of radio stations? Or labels?
Not at all. The long tail takes quite some time to snap the back of the incumbent. But without the benefits of aggregation, we will see further fragmentation of audiences and budgets. While this is a problem for the “Music Industry” (capital M, capital I), it just signals a rockier road ahead. It also signals disruption and opportunity. And it also means we need to work harder – to spot talent and cultivate communities. And we need to delight audiences too. After all, it’s the “music business” – and there’s money in opportunity.