LSA17: Local 2020 – Advice from the Future
February 28, 2017 | Contributed by: Joe Morsello
What are the trends, products and sales innovations that will separate winners from losers in the local market? In the first session at LSA17, four speakers with very diverse backgrounds offered insights and perspective with the benefit of imagined hindsight. Here are some of the takeaways from each of the presentations:
The Cost of Failure is Shrinking
Steven Aldrich of GoDaddy talked about the changing business landscape, pointing out that technology has significantly lowered the barriers to starting a business. Failure is not nearly as expensive as it once was and Steven provided a perspective of optimism when it comes to running a start-up or considering one.
Julie Bernard of Verve, talked about the growing population of “Mobile Prodigies.” She said that a study found 60% of this audience segment would rather lose their wallet than their phone and they are transforming the marketing and advertising industry in three important ways:
- Mobile is their first and sometimes only screen.
- Mobile ads shape their shopping
- Innovative content reduces privacy concerns.
Shift to Social Applied to SMBs
Eric Groves of Alignable talked about the fundamental shift and evolution of marketing from traditional media to search, to social and trusted referrals. The shift in consumer marketing is being replicated as it relates to the SMB marketing space as well. Providers need to build trust with SMBs which can be done in the following ways:
- Work locally with those they trust (high affinity)
- Empower high affinity advocates and resellers to share with others
- Partner with brands they trust most
- Measure and Improve NPS
Differentiation in a Competitive Market
To close out the session, Kiran Prashad of DAC Group talked about how to differentiate in a disruptive, competitive market. She talked about the transformation her company underwent when moving away from a singular media focus to a multi-media one. She mentioned that there are 1037 days until January 1, 2020 and reiterated Steven’s points about not being afraid to fail and innovating.