A powerful global conversation has begun. Through the Internet, people are discovering and inventing new ways to share relevant knowledge with blinding speed. As a direct result, markets are getting smarter—and getting smarter faster than most companies.
When Markets become conversation, the participation benefits the parties involved, viz. (a) The Intent Owner. This is the person who has the money, spends time and effort. In a non-generic sense, this person is the buyer/purchaser/decision-maker of goods/services/products (b) The “Goods” Owner. A person or an entity who has something of interest for which people will spend time, money and effort.
An Intent Owner collaborates with others for research, analysis and in general to discuss items offered from one or more sellers/providers. On the other hand, Goods Owners researches the intent of the buyers by listening to them and/or participating in their conversations. The conversation leads to perfect markets.
During the old days, a weekly bazaar (aka Haat in some Indian dialects) served just that purpose–Buyers collaborated, chattered while sellers listened, conversed and converted the intent into real money. However, as society got industrialized, the collaboration dropped and became 1:1 (thanks to telephone, email and other 1:1 communication media). Come Social Networks, Markets are conversation again. Social Networks are enabling the same depth/breadth of conversation where people are chattering about products, services, companies, etc. (How this is all coming together? To be continued in the second part of the post).