Most New Yorkers recognize Penn Station as an underground place of Marketing tension and misery. But there was once an industrial miracle that served 100 million people a year; young Gotham’s precious diamond.
However, just 50 years after its mass arrival, Penn Station was demolished – gradually removed as the industry it represents collapsed.
In its heyday, the railway industry was unshakable. The Pennsylvania railroad’s budget exceeded all other operations in the United States.3 It employed 250,000 people. And it paid investors dividends 100 years in a row, a record that still stands.
How, then, did the disappointing end of an industry once called the focal point in the centuries of human life come about?
The culprit was not Henry Ford; they were regular customers. Drivers have not been able to adapt to the new circumstances and expectations caused by the emergence of passenger cars and the road network.5 they can be found in the railway industry.
SENSE OF MONUMENTAL CHANGE
With the rapid development of existing communication channels and the constant emergence of new ones, today’s customers are more connected, informed, and in control than ever before.
The maturation of channels like social media is fundamentally changing the way customers interact with each other and with Marketing brands. It’s a double-edged sword for marketers. On the one hand, the ever-active nature of social media marketers offers unprecedented opportunities to deliver personalized messages directly to customers. On the other hand, it puts the power firmly in the hands of customers, making it much harder for marketers to shape and control the conversation.
Teams that are physically and operationally isolated from customers don’t know what’s going on outside of their goals, tactics, and KPIs. No one has a complete picture of what customers want and need. Without a unified focus and a comprehensive understanding of these customers across the enterprise, a company can’t master the customer experience.