Marketing Is Dead – Bill Lee – Harvard Business Review

Marketing Is Dead

Traditional marketing — including advertising, public relations, branding and corporate communications — is dead. Many people in traditional marketing roles and organizations may not realize they’re operating within a dead paradigm. But they are. The evidence is clear.

First, buyers are no longer paying much attention. Several studies have confirmed that in the „buyer’s decision journey,“ traditional marketing communications just aren’t relevant. Buyers arechecking out product and service information in their own way, often through the Internet, and often from sources outside the firm such as word-of-mouth or customer reviews.

Second, CEOs have lost all patience. In a devastating 2011 study of 600 CEOs and decision makers by the London-based Fournaise Marketing Group, 73% of them said that CMOs lack business credibility and the ability to generate sufficient business growth, 72% are tired of being asked for money without explaining how it will generate increased business, and 77% have had it with all the talk about brand equity that can’t be linked to actual firm equity or any other recognized financial metric.

Third, in today’s increasingly social media-infused environment, traditional marketing and sales not only doesn’t work so well, it doesn’t make sense. Think about it: an organization hires people — employees, agencies, consultants, partners — who don’t come from the buyer’s world and whose interests aren’t necessarily aligned with his, and expects them to persuade the buyer to spend his hard-earned money on something. Huh? When you try to extend traditional marketing logic into the world of social media, it simply doesn’t work. Just ask Facebook, which finds itself mired in anongoing debate about whether marketing on Facebook is effective.

via Marketing Is Dead – Bill Lee – Harvard Business Review.

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The Future of Communication? Let’s Ask the Experts

Communication plays a role in all information exchanged between living species. Technically speaking, even plants and fungi communicate with each other.

What sets us humans apart is the speed at which our means of communication develops and innovates. Technology has been helping us to communicate easier, faster and more often. We’re now at a point where we’re “always on” and panic sets in when we temporarily lose the ability to communicate – for example when we lose the data connection our mobile phone.

via The Future of Communication? Let’s Ask the Experts.

Post-Digital: Das Ende der digitalen Revolution – Fischmarkt

Post-Digital: Das Ende der digitalen Revolution

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Wenn es einen Sprecher auf der NEXT Berlin 2012 gab, der sich über das Motto Post-Digital so richtig gefreut hat, dann war es George Dyson. Er rede seit Jahren davon, was nach der digitalen Revolution komme, meinte er, nun gebe es endlich eine Konferenz dazu. Seine Keynote war eine fulminante Tour d’horizon durch die Geschichte der Digitalisierung und ein Plädoyer für einen Blick über deren Grenzen hinaus.

Während seines Aufenthalts in Berlin hat er auch der Welt am Sonntag einInterview gegeben und seine Thesen erläutert. Der zentrale Punkt seiner Argumentation:

via Post-Digital: Das Ende der digitalen Revolution – Fischmarkt.

Marketers Have It Wrong: Forget Engagement, Consumers Want Simplicity – Forbes

Marketers Have It Wrong: Forget Engagement, Consumers Want Simplicity

In a world where brands are constantly fighting for attention, many marketers are asking themselves a key question:  What is the best way to impact purchase decision and brand loyalty? The answer they are likely arriving at is that they should engage potential and current customers via social media. After all, consumers are all about social media, right? Wrong.

The IBM Institute for Business Value found that 60-65% of business leaders who believe that consumers follow their brands on social media sites because they want to be a part of a community. Only 25-30% of consumers agree. The top reason consumers follow a brand? To get discounts – not exactly ideal for a company’s bottom line.

viaMarketers Have It Wrong: Forget Engagement, Consumers Want Simplicity – Forbes.

Why Mobile Will Dominate the Future of Media and Advertising – The Atlantic

JUN 6 2012, 9:00 AM ET 45

We’re about to enter a world where there are more tablets and smart phones than PCs. If you’re in the mobile advertising business, your rocket ship takes off in five, four, three …

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Reuters

This is the dawn of the smartphone age. But you wouldn’t know it by looking at mobile advertising spend. Last week in this space, Derek Thompson showed that consumers are spending 10% of their media attention on their mobile devices while the medium only commands a mere 1% of total ad-spend. Comparatively, the quickly “dying” print medium attracts only about 7% of media-time, but still captures an astonishing 25% of the total U.S. ad-spend, with print receiving 25-times more ad money than mobile.

The disparity between the two mediums gives a strong indication as to how much room mobile still has to grow.

viaBusiness – Richard Ting – Why Mobile Will Dominate the Future of Media and Advertising – The Atlantic.

Fluchtweg Multichannel: Der Deutsche Handel ist der unproduktivste in Europa

21.06.12 Fläche statt ertragreicher Multichannel: Der deutsche Einzelhandel stellt die mit Abstand größte Ladenfläche pro Kopf der Bevölkerung zur Verfügung. Und erwirtschaftet am wenigsten in Europa. Nur in Holland ist die Ertragslage noch schlechter. Die Folge für den Onlinehandel:

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Die Studie ‚Key European retail data 2011 review and 2012 forecast‘ hat GfK GeoMarketing   in eine Karte umgesetzt. Die zeigt, dass mit 1,45 Quadratmeter in Deutschland am zweitmeisten Einzelhandelsfläche pro Kopf der Bevölkerung existiert (nur die Niederlande hat mit 1,66 qm mehr).

Gleichzeitig erwirtschaften die deutschen Händler deutlich weniger pro Quadratmeter als ihre westeuropäischen Konkurrenten.

Das bedeutet: Wenn Einzelhändler überhaupt noch wachsen können, dann nicht in die deutsche Verkaufsfläche. Sondern entweder durch Eröffnung von Länden in anderen europäischen Ländern – oder durch die Expansion ins Internet.

Die Verkaufsflächenproduktivität, d.h. der Umsatz je Quadratmeter Verkaufsfläche, ist bei der Expansion die „harte Währung“ zur Einschätzung von Umsatzpotenzialen an den Einzelhandels-Standorten.

Es besteht ein enger Zusammenhang zwischen der Höhe der Kaufkraft und des Einzelhandelsumsatzes sowie der durchschnittlichen Flächenproduktivität in den jeweiligen Ländern. So stehen auch im Jahr 2011 wieder Luxemburg, die Schweiz und die skandinavischen Länder an der Spitze der Staaten mit den höchsten Raumleistungen, wenngleich wechselkursbedingt die Plätze gegenüber dem Vorjahr getauscht wurden und die Schweiz jetzt das Ranking anführt. Ausnahme: Der hart umkämpfte deutsche Markt.

Die Länder mit den geringsten Flächenproduktivitäten befinden sich in Südosteuropa und im Baltikum (Rumänien, Bulgarien, Lettland, Litauen).

(Autor: Joachim Graf)

viaFluchtweg Multichannel: Der Deutsche Handel ist der unproduktivste in Europa.

5 Mobile Marketing Predictions — It’s All About Revenue: The Revenue Marketing Blog

The Future is Solomoco: 5 Predictions for Digital Marketing

The Future is Solomoco: 5 Predictions for Digital Marketing

Is the future of digital marketing “solomoco”?

At the recent Vocus user conference, I attended a session about the future of digital marketing. The speaker, Tim Reis, Head of Social and Mobile Solutions for Google – Americas sums up the next few years for marketers and businesses in general as “solomoco”: social, local, mobile, commerce. Marketers have been hearing a whole lot about mobile and social lately as these channels are growing in significance and influence.

Reis gave his perspective on what we should expect to see in the next five years. Here it is:

1. Mobile Marketing Goes Mainstream
Seems pretty obvious since mobile devices are everywhere and smartphone sales continue to increase year after year. However, many marketers still aren’t tuned into mobile. Reis cited that 62% of large online advertisers don’t currently have a page optimized for mobile. Having any kind of web presence means that your site should be mobile-friendly. Why? 40% of consumers will quickly abandon a bad site experience and go elsewhere.

Companies such as 1-800-Flowers reaped immediate benefits through mobile optimization. The Company saw “time on site” increase by 25% once they revamped their site for mobile!

2. Local is the Battlefield
Did you know 1 in 3 searches on a mobile device have local intent? With a local search, there is typically an immediate action. For example, I recently found myself in an unknown, small town in New Jersey in desperate need of caffeine. I pulled out my phone, did a search for area coffee shops and immediately followed my GPS to a cup of java.

Marketers need to think about the “local” angle. Integrating a click to call button directly under search results is one fairly easy way for businesses to benefit.

3. Mobile Powers Commerce
By 2015 1 trillion dollars worth of transactions will be made by a mobile device. The virtual wallet is still in early stages but within a few years, people will be able to pay for everything from a pack of gum to the latest gadget via their phones. Businesses that jump on board early will have the advantage.

4. Mobile is Always Nearby
Reis revealed that the majority of the population is never less than 3 feet from their phone at all times. Our devices have become personal and we’re on them – a lot. Marketers who figure out how to interact and engage with their audience through mobile will see results.

When the movie Thor came out, the mobile ads associated with the movie required the person to click on Thor’s hammer and to watch it come smashing down. Turns out 97% of those who clicked on the ad, reclicked. This is a great example of audience interaction through mobile.

5. Social in Everything
Social media will continue to play a critical role in how marketers reach out to potential buyers. Reis stressed the fact that social is increasingly becoming integrated in pretty much everything. Google + is one such example of how a company weaved social into search.

So, what are some of your predictions for digital marketing in the next five years?

via5 Mobile Marketing Predictions — It’s All About Revenue: The Revenue Marketing Blog.

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