Friday, October 26, 2018

The Economic Benefits of Long-tail Marketing as an Exercise of Collective Capitalism

Marketing can be collectively organized or it can be decentralized and chaotic. In the world of marketing both methods can create brand awareness through focal and dispersed action. Information distribution is also a form of marketing as companies rely heavily on it to make investment decisions. Having useful information that is easily searchable is helpful to the process of discovery, research and investment.

Companies can disseminate information just like governments and associations can. The only difference is that they are not often as coordinated as collaborative efforts. However, even this chaotic individualized approaches creates data chains that are often picked up in search engines and databases.

We understand the benefits of creating a long-tail of marketing online with products/services while we don't often think of a city as a business. Yet the awareness of the region is directly associated with the amount of times certain words are repeated in popular media. Information must be available for public consumption and digestion.

Part of the problem is how we think about marketing and the necessary contributions for coordinated activity. Many organizations contribute some money to marketing organizations but don't often contribute enough or work outside those organizations to ensure that they are maximizing regional benefits. Their mentality may be, "Why should I pay for something the big companies will benefit from?"

This is often a result of different businesses and not having consensus on the marketing image and what industries should be within the brand image. Greater education is needed to show businesses either not in the cluster, or as support to other businesses, that rallying around a few core regional concepts can lead to greater prosperity for all through preferences for local businesses.

The idea has merit as we consider the Trickle Down Theories often supported by Republican candidates and the use of local labor that makes up essential beliefs of Democrats. Collective Capitalism encourages pro-societal and patriotic economic behavior that has a direct effect on our economic health.

To get each of the businesses to at least partially agree to incorporate certain concepts as sub themes within their own marketing campaigns and contribute financially to collective marketing campaigns means that there must be community engagement in the process of brand development. Each person, and business, within the local economy should be aware of what the region stands and should buy into the local economy in a way that improves performance through knowledge and collective focal points.

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