RESEARCH: Marketers must refocus to tackle the 'prosumer' says EIU report
The rise of 'prosumers' over the next five years will fundamentally change the way companies and marketers in particular operate. This is the one of the key messages from a new report by the Economist Intelligence Unit, entitled 'The digital company 2013 How technology will empower the customer'. The report is based on the results of a survey of over 600 senior business executives worldwide and in-depth interviews with various independent technology experts, aimed at determining how technology will impact on businesses five years from now.
Its key finding is that the pace of transformation of business caused by technology is likely to accelerate in the next five years, with innovation having an enormous impression on organisations. This will impact on all levels of business, but the report suggests its most significant repercussions will be on the influence of customers, which will be dramatically enhanced as a consequence of new communications technologies; a trend that is starting to become evident with the recent surge in social media and Web 2.0.
The term 'prosumer' (combining 'professional' and 'consumer') refers to the blurring of boundaries and increasing interaction between organisations and their customers as well as suppliers, employees and partners.