Hot off the press -Participation has become a fifth element in the classic marketing formula known as the Four Ps: product, pricing, placement and promotion, according to today’s Cannes Lions Daily. Delegates attending Tuesday’s MRM Worldwide seminar, The Age Of Participation, were given advice by Reuben Hendell and Alastair Duncan on how to harness that fifth element to engage consumers in brands. Reuben Hendell, CEO of MRM Worldwide, said that consumers’ attitude to having their experiences led or guided by the advertiser – the traditional marketing approach – is demonstrated in two facts. The first is that MAPS, the database that enables consumers to opt out of receiving email adverts, is one of the fastest growing on the web. The second is that 80% of SkyPLUS viewers skip adverts. Hendell added that consumers have made it clear they do not want leadership in brands: they want transparency. And they do not want guided experiences: they want to self-serve their way to digital brands.
Alastair Duncan, CEO of of MRM Worldwide UK, called for better ideas to encourage participation by consumers. He noted that, in the new paradigm, engagement attracts attention, but participation brings results. In the new world of marketing and advertising, “ideas need to be bigger than ever”, Duncan said.
An excerpt from the Cannes Lions daily, Thursday 21st June 2007