Why Read This
The marketing funnel is a broken metaphor that overlooks the complexity social media introduces into the buying process. As consumers' trust in traditional media diminishes, marketers need a new approach. We propose a new metric, engagement
, that includes four components: involvement, interaction, intimacy, and influence. Each of these is built from data collected from online and offline data sources. Using engagement, you get a more holistic appreciation of your customers' actions, recognizing that value comes not just from transactions but also from actions people take to influence others. Once engagement takes hold of marketing, marketing messages will become conversations, and dollars will shift from media buying to customer understanding.