Fellow Marketers, I’m taking a break in South of France in a very nice region close to Toulouse. If you’ve never been here, I encourage you to plan for a trip here: great landscape, great people, and great food. Plan for it, trust me! As a matter of fact, I won’t be blogging that much this week.
Nevertheless, I wanted to share with you some news on the advertising front: McKinsey Study Predicts Continuing Decline in TV Selling Power. In a nutshell, we have to face the continuing declining of buying power of this traditional way of advertising combined with the rising influence of empowered consumers expressing their relationship with your brand, live. At the same time, this report highlights that our real ad spending on prime-time broadcast TV has increased over the last decade by about 40% even as viewers have dropped almost 50%.
The natural reaction to this would be for us to shift budget to on-line marketing techniques, right? In fact given the budget size to shift, we would not have enough on-line ad space to buy. This is an additional sign that Marketing 2.0 is underway. CMO’s should rather look for ways to engage with customers in a transparent dialogue with their brand and co-market with them. Same old, same old for those of you who are familiar with Marketing 2.0 by now. Take a look at what Customer Interaction Management (CIM) and Customer Information Hub (CIH) can do for your salesforce, it’s a good lead for your spending shift.
Take a look at this article as well about How the Open Source Revolution Impacts Your Brands if you have some time. The conclusion about controlling the marketing message is litterally the question we’re debating about here: “The No. 1 lesson of the Internet,” says Jeff Jarvis, “whether you’re Howard Dean or a media company or a marketer, is that you have to give up control to gain control.” The “How” is at the core of what Marketing 2.0 is about and should define.