The era of traditional marketing seems to be coming to the end, but many organizations have already managed to find an alternative solution. The blog of the Harvard Business Review offers some for consideration.
Community marketing
Social media only accelerate the return of the oldest trend where people buy in their communities (often right in their neighbourhood). To buy a new roof, you are probably not likely to search websites of many companies and negotiate with their sales people. Far rather you'd ask neighbors and acquaintances who did their roof and if they were happy. Firms should seek to establish this sort of atmosphere on their social media. The key to success is to create a real community, whose members provide information that is credible to others.
Find customers-influencers
Firms spend a lot of money on finding people who will influence customers. Much more effective is to find a customers-influencers and just provide topics that they can share with their peers.
Microsoft has its own network of MPV's (Most Valuable Professionals). One of them is nicknamed Mr. Excel. His website has the same or even a higher number of visitors than the official Microsoft Excel website and contains "credible information" including what the company plans to develop. Microsoft provides information, and Mr. Excel helps to penetrate the market at a reasonable price.
Helping to build social capital
Traditional marketing rewarded brand advocates financially, or by providing (unwanted) discounts or gifts. New marketing helps influencers and brand advocates to build social capital, ie to increase their knowledge and enhance their reputation as connoisseurs within a larger group of people.
Traditional marketing ends. A new era starts in which consumers are influenced by their peers using community marketing, which is based on real relationships with customers.
-th-