Monday, January 21, 2008

Old marketing vs. new marketing

I had one of those big, ambitious, fun, 10,000-foot-level conversations today about what’s changed in marketing during the past few years. Here’s my take...what’s yours?

Yesterday, the loudest marketing message was the one most likely to be heard. Today, the loudest message is one most likely to be ignored.

It used to be about spending as much money as you could afford to reach the largest group of people with the right message. Today, it’s about spending the absolute minimum to reach only the right people with the right message.

Old marketing primarily dealt with words and images. New marketing starts with data.

Old marketing was about raising awareness. New marketing is about raising the rate of response.

With old marketing, it was hard to do a good job of measuring results. With new marketing, it’s hard to do a good job unless you measure results.

Old marketing was about always being the smartest person in the room. New marketing is about being great at bringing people smarter than you into the room.

Old marketing started with a conversation about the product or service. New marketing starts with a conversation with your customers.

Marketing used to be about making the greatest profit. New marketing is about making the greatest impact on your customers’ lives, and having confidence in that leading to profit.

1 comment:

ScLoHo (Scott Howard) said...

Another great thought starter, Anthony. You are right, when we had less advertising, each ad had a greater impact. We will never go backwards, so it is time to recognize the PRINCIPLES that haven't changed and learn how to apply them in todays marketplace.

"Everyone" knew who was on the Ed Sullivan show each week, 45 years ago. Not only did people watch it, but they also talked to their friends about it. It was the word of mouth from people you trusted that was powerful. Using this PRINCIPLE, we can do the same thing with our marketing, and that is to use the advertising, P.R. and other marketing tools as a "firestarter". If we create something that will ignite positive word of mouth amoung the right people, then it will take off in ways that money can't buy.

A current example of this is the political campaigns going on around us. Romney had the big bucks and outspent his rivals yet, lost in Iowa and New Hampshire.

However, despite the new era of Internet marketing, don't throw away traditional media. Instead I would urge folks to evolve and follow the media habits of their clients and customers.