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80/20 can be applied to a lot of different distributions, it means that the 80% of the consequences are the result of 20% of the causes. Pareto Principle could be related to Long Tail in using the 20/80 distribution regarding efforts and benefits. It is way better to invest the maximum efforts in the creation of the perfect strategy in order to obtain the best results. Also, it is a great relation to identify the point that makes most of the consequences, in this case for example, we can check which strategic management can be the most profitable. Also, regarding 20/80, we can appreciate that the 80% of the population are more likely to consume mass products and the 20% are more specific on their demands. So, it is way better to be more specific in order to achieve a higher conversion rate and more qualified traffic in an environment with less competitors. Focusing on niche products, that are regarded as the 20% on total sales volume, will be more profitable than mass products, which is the 80% of the total.
Marketing has evolved over the years. It has gone from focusing just on the sale and promotion of the product and the brand (1.0), to the user being the center of the process and attention (2.0) to establishing a long-term impact on society and having people’s values very present (3.0). Apart from traditional channels such as radio, television and press, 360º marketing completes this circle with more consequential complements of the evolution and the different stages of marketing, such as social networks, SEO and SEM positioning, web pages, etc. That is why it is said that it is 360º, because it collects all the media that joins together in order to reach the objective for the same campaign, that is a wider fragmentation of media to promote effectiveness and fullness in both traditional and digital media.
On the other hand, the 6º degreee marketing concept, from my perception, refers to the micro-segmentation and personalization of marketing. If a 360º angle is a perfect circle, a 6º angle is less wider, and the mental image is a very small funnel, that means that it does not focus on something so general, but on a perfectly segmented target.
Therefore, this refers to the known theory of the six degrees, in which it is known that each person can reach any other person on the planet only by crossing 6 links of contacts, that consists on six levels.
Taking this in relation to marketing and social media, this means that what really matters is the quality of the followers, not the quantity. That is why quality campaigns must be carried out, focusing more on values and social impact and thinking less about generalizing the offer so that it is reaches a higher number of people. This theory makes reference to the notion of communities, meaning the share of experiences and all what matters the audience within their peers (P2P), enhancing conversation among users, connectivity and participation.I would like to make reference to what my colleague Carmen Arranz said. She has talked about freedom and decentralization but from my point of view, everything is going to be kind of ´monitorized´and for me that is not a synonim of freedom, as we are going to be much more observed in order to set up clear privacy , segmentation and targeting adapted to the different contexts.
Regarding advertising on social media, Blockchain will create a higher ad automation, with a more transparent process, as these ads will be more effective. The cost of transactions will be reduced by removing intermediaries, and these movements will be safer and much more precise.
Also, content management will be more accurate through personalization, creation and adaptation.Blockchain will affect social media in terms of reorganizing the algorithm that rules all data and security. Many brands do advertising on social platforms so this will affect them in terms of paid ads on how to adapt transactions to them.
This will mean that social media will be more transparent, and blockchain will delete fraudulent traffic, and so this will provide more privacy and security.
Through this technology, it is not possible to change all the information and also to copy data, because blockchain offers a decentralized system that ensures a higher level of security on the data. So this will delete the middle platform used by social media and so privacy will be total, as all the information will be delivered and available in a more direct way.
Another point is that Blockchain will make targeting much easier, as it will monitorice all the information required in a more decentralized way, and so targeting and segmentation will be way more specific, as we will have all the information collected in a more personalized and accurate way.
Facing journalism, blockchain will facilitate engagement with the public, creating a concept of “real public”, with the notion of community, providing cooperation. Also, Blockchain will stop the spread of fake news, acting like the ´Big Brother´ Orwell talked about, as no one has time to check the authenticity of messages or videos published on the different social media platforms (this is how people fall into the trap of fake news). So this is why it is essential to reach out the authenticity of the information, where it comes from and who created it.
Also, journalism will have the same facility as Social Media facing user targeting and they will have the opportunity to segmentate and personalize much better the news they want to offer. Ex: If I like to read tech news, I will be provided with more news about technology instead of being boomed with news I’m not interested about.
