Gary Lee, VP Business Development, mBLAST
I am old. I remember steno pools, writing memos by hand, interoffice mail, the introduction of personal computers, the shift away from terminals, dial-up, direct mail, print advertising, and many other concepts in business that many marketing professionals today shrug their shoulders and dismiss with a “I read about that somewhere.”
So as I write this as a mid-40s guy who’s been in high-tech and high-tech marketing for 25 years, I feel old, and sometimes wonder how long the pace of marketing can continue to speed up before no one is able to market anything to anyone any longer?
We used to watch commercials. Pay attention to them. Study them. Talk about them. And buy the products we saw in commercials. Of course we also had three channels of television (black and white), manual changing of channels, and tin-foil over the antennas. But advertising was a proud discipline. My wife and I still laugh as we remember jingles of our youth.
My teenagers have not seen a commercial in ages. I force them to watch the commercials during the Super Bowl, so they can pick the winners and gain an appreciation for the creative side. But I am convinced they believe advertisements are only created for that one annual event, and they have full permission to zap the remote through any television ad, skip any radio spot, and they have not seen a print magazine or newspaper in ages. Why bother – it’s all online they cry.
Today, tweeps and tweeples tweet. Facebook gives me more “Friends” than I’ve had in 25 years, but I never actually talk to any of them or share a cup of coffee with them. IM ensures that I’ll never be alone, as least among people I work with who panic if I step away for a cup of coffee and am unreachable for the 1.27 minutes it takes to walk there and back (thank God for text messaging so they can find me during those long absences).
As a marketer, we’ve gone from 30 second spots on 3 major networks reaching the mass market, to 140 character tweets updating one’s closest “friends” telling them about the bad experience we just had with a company, or a blog entry detailing how company “A” is having mass layoffs, company “B” makes products that catch on fire and / or cause hair to fall out, etc.
It’s an exciting time for marketing….and a terrifying one as well.
A blog from Rita McGrath at Harvard Business Review Voices last month pointed out that Competitive Advantages are fleeting – getting shorter and shorter than ever. As someone who digested everything Michael Porter ever wrote on strategic advantage during my graduate studies, and in my days running startups in the telecom industry, I believe in creating sustainable competitive advantage – finding ways to build value that others cannot easily replicate and destroy. McGrath argues that the life of a competitive advantage is nasty, brutish and short. And only companies who can adopt this view and refocus will survive in the long run.
McGrath could be talking about today’s marketing professional, publisher and anyone involved in the hyper-changing lifecycle of marketing today.
Communication channels and methods used in marketing have changed more in the past five years than in the last fifty. Attention spans for prospective buyers are almost non-existent, with a keen ability to filter out, tune in, and self-select messages. Traditional thinking about products, placement, promotions and pricing – the traditional marketing mix – is all but irrelevant.
Today’s marketing professional and the market influencers they work with must adapt to new models if marketing as a discipline will continue to be a factor in creating any sort of competitive advantage for companies.
Content and distribution of content across the web is more critical than ever before. As the global market moves toward an interconnected network of individuals, groups, buyers, rumor-mongers, “drive by” influencers, and other professionals and would-be professionals, it’s critical that marketing adopt new ways of discovering, analyzing and maintaining content across the web.
Market influencers – those publishers, editors, journalists, analysts, awards organizers and event organizers which influence what potential buyers think about a company and its products and services – must recognize that their ability to build sustainable advantage is also under attack, and radical changes are necessary.
Advertising revenue must shift away from traditional media buys, and be replaced with content-oriented advertising in buyer’s guides, product / service directories and mashups which mashup content with vendor-supplied information. Journalists must use new means of gathering content, finding resources, and writing stories. And readers must find a wide array of primary and secondary information in order to find relevance.
mBLAST has solutions for many of these challenges, from our software for buyer’s guides, directories and awards, to search tools for finding, managing and using information.
I may be a little old, but I am excited about the potential and possibilities ahead. And for those companies and individuals able to adapt to these challenges, the role of marketing is more critical than ever in creating competitive advantages – fleeting though they may be – and continue to stay ahead of the competition and lead markets.
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