Friday, April 24, 2009

IN OTHER NEWS...Traditional Marketing Pronounced Dead!


Funeral services for Traditional Marketing were held recently and sadly, only a few people were in attendance. That’s because most entrepreneurs and small business owners were completely unaware that traditional channels and campaigns (including guerrilla marketing) died and are no longer as effective.

As the owner of a small (and I like to think, emerging) creative marketing company, one of the biggest challenges I face is convincing clients that today they absolutely must provide a real customer experience that is connected to their brand; one that taps into the customer's behavior [see my blog "Branding From My Mother's Kitchen" 11-08]. Otherwise, promotion without behavior or branding that does not DO something is as purposeless as tits on a bull and produces little to no bottom-line results.

So, what is the latest marketing innovational shift you ask? Ladies and gentlemen, we have entered into a NEW age of marketing where successful brands (that also includes YOU as the brand) are harnessing the power of social media + video + special events. And THAT, my friends = NEW MEDIA and the wave of the future -- this is the cutting edge of where you absolutely must be if you plan to move your business to the next level. Lag on this and you will definitely lose!

When I first started in this business back in the early ‘80’s (I know, I’m dating myself), working in the world of corporate special events and meeting planning wasn’t even a career choice. In fact, my first job in the business, I was hired as a “marketing assistant.” I vividly remember telephoning my mother all excited about this new job I just started. The first thing my mother said to me was, “…oh baby, you might want to look for something else because there can’t be much money in planning events…” Who knew, I know I didn’t, that corporations spent hundreds of thousands of dollars on meetings, conferences, special events for everything from promoting new products to boosting company morale.

So it is with pride and awe that I watch special events evolve to become a pivotal and necessary player in this NEW MEDIA. Suddenly incorporating an event into the marketing mix is a way to give your customers something to DO (and say) about your brand. Cutting-edge businesses are discovering the power that a single event, video taped and then shared through social networking (i.e. WACPTV, Facebook, LinkedIn, Twitter, et al), can have on their brand.

The use of video has become the standard medium (for now) to broadcast news, events and entertainment. Posting video on UGC (User Generated Content) social websites provides key brand interactivity and recognition – becoming THE catalyst for brand advocates and evangelists. In other words, customers will view your video, reply with views and opinions, and then share that information with others. And all this viral buzz is done without the purchase of print ads, radio or television spots or direct mail marketing (old traditional marketing channels). In fact, U.S. ad spending continues to decline.

Take for example, the uncanny rise the ‘Britain’s Got Talent’ contestant, Susan Boyle which has led to more than 100 million hits on YouTube (making it the most popular video in YouTube's history – good lawd, before tweezers!). You would think that Susan or at least the TV show is profiting a nice hefty dividend check? But according to Google "That video is not being monetized." That means that $500,000 and change in licensing fees and more than $1M in overlay ad revenue are being left on the table. The digital age provides opportunities, but only if marketers know how to grab them.

Even though I do think there is still a place for some traditional print marketing and TV/radio commercials. They definitely do not dominate like they used to so you should use sparingly (and wisely). Therefore, the idea is not to throw money at your customers through expensive ads and commercials -- because the average person is not willing to retain or use your brand’s message (which, according to author Jonathan Baskin, is a little over 1 million messages a year).

Involving customers in events, captured on video and shared through social networking will create a much larger promotional splash and actually inspire (WOM) evangelism. Take a look at how Saturn used a “House Party” mega-event and partnered with TLC’s Real Simple Real Life as their social media channel to increase brand awareness by 38%. Give customers (brand) freedom to experience what matters most and a way to share their views and opinions and they will not only embrace your brand, but encourage others to as well.

Okay, so I’m hanging up my Black dress now and dusting off my red (party) stilettos – look for my video-blog on a social network near you!

Deborah Porter
702-505-7110