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In the last few hours, a speech has emerged that Stephanie McMahon, the new President and Co-CEO of WWE, made during the MTM's Live Visionaries Webinar in May. "It is really important to keep an eye on the latest market trends.
We have more listening tools than ever. You also need to consider live feedback, which is something we are in a unique position to get every week. We have a focus group of 10,000 people telling us what they like, what they don't like and, probably most importantly, what they don't care about, so we know how to avoid it.
The WWE philosophy is to be a little ahead of the trends. Vince Mcmahon has been given recognition as a pioneer of the pay-per-view industry. He saw the opportunity for social media to really have that direct relationship with the consumer.
It is an opportunity to engage people in a different way. He started our business in a marketing base, a small town in Bangor, Maine to promote WWE. My grandfather said: If you can manage to promote Bangor, Maine, you can join the company.
That's the whole early story. He applied that thought. As soon as he saw social media, he thought: This is my chance. It's not 100% of one person's work, it's 100% of everyone's work, to have that direct communication and to think through that lens.
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You have to listen actively
Stephanie went on to praise WWE's work with all the streaming platforms and technology that enabled the company to connect with fans. She added: "How do you stay in touch with that audience and know what's coming in media terms? You just have to listen.
You have to listen to your fans, your consumers, your children, your peers. You have to be constantly listening and watching where, for example, gaming has become a big priority for WWE, because that's where most of the next generation crowd is.
How are we going to reach the next generation that evolves and changes more than anything else? You have to look at the platforms they are using, the conversations they are having, and have conversations on your own to know how to reach them. Listening is number one."