New Business Models

Customers are more powerful than ever. Because of changes in technology, particularly the interactive internet (Web 2.0), there has been a fundamental and irreversible shift of power in favour of consumers.

Creative business that embrace this change will thrive, by using new business models such as crowd-sourcing, viral marketing, crowd-financing, buzz marketing and plogging.

The bad news is that businesses that deny or ignore these changes by continuing to regard customers as passive targets will fail.

‘New Business Models in the Creative Industries’ was the subject of my keynote speech to the Media and Message conference of indepedent TV producers and media professionals in Finland.

We need to be innovative about how we do business and devise new business models centred on demanding, talkative and creative customers.