On a recent trip to Singapore with my friend Nicola, I poked through an iPhone app named ‘ieat Hawker’, named after the famed ‘hawker’ food halls that dot the city-state. Nicola wanted to sample Char Kway Teow – a delicious Chinese fried noodle dish – at one of the hawker centers. I went through the list provided by my app, diligently checking its location on the map with our location. Each of them involved a hefty trek in a taxi or on the subway – and we were too hot, humid and hungry to embark on that kind of quest.
In a moment of exasperation, Nicola asked me, “Why can’t I tell my phone that I want some good Char Kway Teow – and then have it tell me when I’m near a hawker who can cook some up for me?” And indeed, location-based apps like Foursquare should work this way – you should be able to advertise your interest in something, and let the app find it for you. Instead, the apps work the other way around – they advertise to you all sorts of things that you’re never interested in, which is why none of them have been very successful for businesses.
Now that the market is everywhere, hyperbusinesses listen to what the market wants. Every individual can now advertise their needs in a way that allows the hyperbusiness to offer just what any individual needs, just when they need it.
The model of advertising that grew up in the era of mass media (even all the way to Google) has been turned inside-out by the presence of the pervasive market. Now we each advertise our needs as consumers, and businesses offer to fulfil those needs. This is just what Marico does when it sends its daily text message to coconut pickers. It’s vastly more efficient than a shotgun approach – or even targeted advertising, because rather than trying to gin up demand, a business is always satisfying an advertised need.