The markets of the past were created and influenced by the few and capital followed the markets. Markets have been and will always be fueled by conversations. Historically media fueled the conversations whether it was print or broadcast via television, radio or the web.
Today the individual is creating the media using web 2.0 technologies to create conversational rivers via broadcast tools such as blogs, wiki’s, self produced video, podcast and distributing their media all over the web, one to one to millions.
Social networks have advanced the cause of distribution enabling people to “connect” to other people and distribute media. The institutions of the past can no longer control communications, media and the subsequent capital that follows.
Does Capital Follow Market Conversations?
The capital which historically followed the influence of institutional communications and media will also begin to shift due to the influence of the individual. The individuals are creating a new institution founded not only on the freedom of speech but the power of speech when united with other individuals, one to one to millions.
A market is fueled by the consumption of products and services. Mass consumption is in turn fueled by the satisfaction of the consumer. Satisfaction indexes were historically measured over time and published by the media. Now satisfaction is both determined and influenced by the conversational rivers of the web and published by the individuals, one to one to millions, for immediate consumption. Consumer satisfaction indexes are being produced in web time which is now rather than over periods of time.
Satisfaction is an influence over markets. Without satisfying a need, both instantly and over time, markets deteriorate and get replaced by new markets. Capital follows those that are able to satisfy markets. New markets are driven by replacing old or creating new methods of communicating and the creation, distribution and influence of media.
While many wonder how all this social activity can or will create any revenue just maybe they focusing on the cart before the horse, A horse can pull a cart to a destination. A cart is driven by an individual. An experienced individual in a good cart and a strong horse can win the race. The economic gains are the results of winning the race for satisfaction.
Maybe the race is about the pace in which the divisions between people, markets and capital are coming down.. Maybe the prize is left to those who discover new ways to break down old divisions and create new markets that satisfy consumers. Has the definition of satisfaction changed? Is the perception of satisfaction now largely driven by conversations? Market Socialutions are created and satisfied through conversations.
What say you?