I’m listening right now to uber emarketer Geoff Ramsey right now at eMarketing 2005, a conference in Orlando where I will be later speaking about word-of-mouth measurements and analytics. Geoff's a highly engaging, energetic, and well-informed speaker (a fellow Ad-Tech board member) who’s introducing the key conference themes and marketing trends. As I watch him rattle through a plethora of packed power-point slides, I’m getting goosebumps. Why? Because this is at the heart and soul of everything we have been advocating at Intelliseek, especially in our webinars. So let's recap Ramsey's "5 Mega Media and Marketing Trends" and spice it up with a bit of commentary.
- Consumer skepticism and resistant to advertising: Yes indeed! And the data substantiating this everywhere. More consumers have downloaded pop-up filters than the total number of consumers have signed up for do-not-call list. Last year’s Forrester/Intelliseek research suggested that consumer simply don’t “trust” advertisers anymore. Geoff Ramsey quotes Yankelovich: “65% of consumers feel constantly bombarded with too much marketing and advertising.”
- Increasingly the Consumer is Control: Amen! The core underlying assumption behind consumer-generated media is that the most effective and trusted advertising today is not created or controlled by advertisers, but by consumers. This is a fundamentally new landscape. Consumer behavior on message boards, blogs, forums, communities, or even around the water-cooler are all evidence of this. More perspective via our white paper on this topic.
- Media fragmentation is out of control. Ramsey quotes P&G’s Jim Stengel: “In 1965, 80% of the 18-49 year-olds in the US could be reached with 3 60-second TV spots. In 2002, it required 117 prime-time commercials to do the same.” Yes, this is the new reality, and the advent of consumer-generated media is intensifying the fragmentation. What’s your plan to manage in this environment?
- “Mass reach” efforts are being complemented by improved targeting – to maximize efficiency and drive relevance: Yes again. Why do we focus on so-called ‘influencers?’ Because they are a higher-return target audience. Win with the consumers with megaphones and you get a higher yield. Lose with them and you may never be able to crawl out of the negative media hole. But the point is this: the web is introducing a fundamentally new way of identifying, measuring, and reaching targeted niches of consumers. Most of the discussion to date has been centered on "buying" those targets, but targeting is also about how to manage the unique, organic, unprompted influence and reach of these segments.
- Marketers are held to new levels of accountability: No disagreement here, but I’ve long maintained that one of the most critical ‘accountability’ tools available at our disposal (or currently untapped) is measurable consumer expression. If there’s a CGM trail of over 1.5 billion tangible, archived, consumer comments on the internet, why not use what the “boss” says as tool to hold marketers more accountable. I write about this in one of my recent Jupiter columns.
What I’m sensing in listening to this presentation is that we truly are in a second “wave” of new marketing. I experienced this first hand while helping shape interactive marketing at P&G from 1996-1999, but we’re now in a fundamentally new period. Geoff’s numbers have resonance.
Where the internet is really peaking, says Ramsey, is as a “pre-purchase” information vehicle. This is a critical point, and I could not agree more. If this is even marginally true, then CGM is having a massive impact of consumer awareness, trial and loyalty of products. Why? Because real consumer experiences with brands and services are making themselves readily available in front of other consumers, especially through search engines.
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