Marketing Tip- On Web 2.0 Focus on Best Practices, Not Technology or Specific Players/Channels
Lisa Merriam, President of Merriam Associates asked me a few questions about the 2009 Marketing Trends study for her Video Blog (vlog). The 2008 and 2009 study MENG Marketing Trend studies were conducted by Anderson Analytics and MENG (Marketing Executives Networking Group).
Other than the economy, I think one of the major points of interest this year seems to be why senior marketing executives are tired of/frustrated with the term “web 2.0″.
I tried to answer the Web 2.0 question in the Interview. I can sympathize with the frustration felt by CMO’s and other senior marketing executives. As marketers we realize that “Web 2.0″ i.e. Consumer Generated Media (CGM) and Social Network Services (SNS) are very important, but it’s taking us longer than we thought to figure out how to truly leverage them. The various channels available to us are always changing in reach and importance, and the rules set by these channel players change also.
For example, Anderson Analytics has been developing various research applications for social networks. However, these networks can and do make major technical and business changes which in turn have required us to make significant investments in re-programming and/or changing strategy.
In the process we’ve learned what I suspect other marketers have learned, that the key of course is to focus on the process, not specific products (though they too can be created with future flexibility in mind). By focusing on the process, in other words the best practices of what constitutes good applications, communities, stickiness, brand awareness on web 2.0, these insights can be applied as the specific technology and channels change.
In regard to the second question, the economy, I think it is clear that savvy marketers know that cutting marketing costs is a good way to dig a grave for your brand/product. Companies that market wisely ‘make lemonade’ during these times, can stand to gain a lot when the economy improves. Shareholders should hope that the CEO’s pay as much or more attention to their CMO’s as their CFO’s during these times.
Tom
Link to original postTom H. C. Anderson – Anderson Analytics
