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Marketing Is Dead - Bill Lee

Marketing Is Dead - Bill Lee
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. Second, CEOs have lost all patience. 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. In fact, this last is a bit of a red herring, because traditional marketing isn’t really working anywhere. There’s a lot of speculation about what will replace this broken model — a sense that we’re only getting a few glimpses of the future of marketing on the margins. Restore community marketing. Find your customer influencers. Help them build social capital.

Facebook Unleashes Powerful Marketing Tool: Page Post Targeting By Age, Gender, Likes, and More Today Facebook begins the roll out of “Page Post Targeting Enhanced” allowing Pages to target their posts to segments of fans with certain genders, ages, Likes, and other characteristics so they can tailor market messages to specific audiences. For example, a business could tell teens they’ve got “swag” while telling adults they’re “reputable”. Until now, Facebook Pages could only target posts to fans of certain locations and languages, but the social network just told some admins that the new targeting options are opening to a select number of Pages today and will roll out to all Pages over the next few weeks. 100 social media statistics for 2012 We all love statistics, specially when they are about social media. I’ve made life so much easier by compiling all the statistics I could find over the past month or so in one handy bulleted article, including the following stats: Facebook, Facebook in business, Twitter, Twitter in business, LinkedIn, YouTube, Other (social networks), General social media stats, Mobile, QR codes and Facebook in Australia stats. Feel free to let me know if any of them are outdated or if I’ve missed any good ones. Enjoy! Note: I’ve now posted another social media statistics article in September 2012 (with 216 stats!)

Dogfooding We ate our own dogfood. Eating your own dog food, also called dogfooding, is a slang term used to define a scenario in which a company (usually a software company) uses its own product to demonstrate the quality and capabilities of the product. Definition from Wikipedia Although we have consistently tweaked our models and methods as we apply them with clients and in our research, during the past two months we moved into a state of rapid iterations. As Larry said in his last post Innovation or Mutation?, there are times when “either internal or external forces make the status quo unacceptable.”

YuMe Launches Interactive Mobile Video Ads REDWOOD CITY, CA (via Skype Video) -- Seeking to capitalize on the rapid growth in mobile video, online video ad technology provider YuMe launched a new mobile video format this week dubbed YuMe Mobile Flip with brands Elizabeth Arden, GlaxoSmithKline and American Greetings rolling out campaigns, according to YuMe's Ed Haslam. Beet.TV caught up with YuMe's Senior VP of Marketing for more details. The new ad format allows for interactivity in mobile video that takes advantage of the touch screen capabilities of mobile screens, he says. With the ad format, consumers can "flip" or "swipe" to watch more videos, locate a store, request a coupon or interact with the brand in other ways. "It's like a gesture control on a phone and [the ad] flips over with more interactive opportunities that use more video assets from the brand," Haslam tells Beet.TV in this video interview. The format and the pricing will usually be integrated into an existing or broader campaign, Haslam explains.

Innovation or Mutation? In her McKinsey Quarterly article, “Creating Value in the Age of Distributed Capitalism,” Shoshana Zuboff writes, “What’s the difference (between innovations and mutations)? Innovations improve the framework in which enterprises produce and deliver goods and services. Mutations create new frameworks.” Why Fans Share and How Brands Can Capitalize On It Michael “MJ” Jaindl is chief client officer at Buddy Media, maker of the social-enterprise software of choice for eight of the top ten advertisers in the world. Visit Buddy Media’s blog for more on social marketing. At fMC 2012, Facebook’s first conference for marketers, Facebook global head of brand design Paul Adams presented one of the most important talks of the entire event. In the session, “What People Share and Why,” Adams suggested that people are not necessarily predisposed to this behavior. “If you look at likes, comments and shares, there are a lot more likes and comments,” Adams said. “This is because sharing isn’t natural.

The Pretense of Knowledge - Friedrich A. Hayek [Lecture to the memory of Alfred Nobel, December 11, 1974] The particular occasion of this lecture, combined with the chief practical problem which economists have to face today, have made the choice of its topic almost inevitable. On the one hand the still recent establishment of the Nobel Memorial Prize in Economic Science marks a significant step in the process by which, in the opinion of the general public, economics has been conceded some of the dignity and prestige of the physical sciences. Nine Things You Should Know About Facebook's IPO Facebook could be worth nearly $140 billion by today’s market close The social network priced its shares at $38 apiece, valuing the company at $104 billion. The average first-day “pop” for a technology company is 32 percent; if Facebook follows that trend, it’ll be worth $137 billion by day’s end.

Complexity, patterns and links The mainstream ways of thinking about management are based on the sciences of certainty. The whole system of strategic choice, goal setting and choosing actions to reach the given goals in a controlled way depends on predictability. The problem is that this familiar causal foundation cannot explain the reality we face. Almost daily, we experience the inability of people to choose what happens in their organizations – or in their countries. We live in a complex world. The 5 All-Time Best Facebook Campaigns In a dramatic bit of timing, GM announced it was pulling its $10 million in Facebook advertising mere days before the latter company’s IPO. The high-profile move drew a line under the already pronounced question mark around Facebook’s real value as a paid advertising platform. While some, including Ford, rushed to make the point that proclaiming Facebook ineffective is simply admitting that you’re doing it wrong, the fact is, there has been little to support the notion that paid advertising on Facebook is tied to real, bottom-line results.

What Happened to The Secret Sauce? I began this post minutes after reading the op-ed letter in the New York Times by Greg Smith, Why I Am Leaving Goldman Sachs. I have read numerous blog posts and emerging conversations from both supporters and detractors. What has continued to strike me as the most important part of this conversation is a single sentence in Smith’s original letter. “ The culture was the secret sauce that made this place great and allowed us to earn our clients’ trust for 143 years. ” I have have asked several people who worked for and with Goldman Sachs about what happened to the “secret sauce” and uniformily the answer was the leadership shift from the “bankers” who understood and focused on relationships to the “traders” who focused on the product. This shift was influenced in large part on the imbalance between revenue producers, fees from advisement and “relationships” is inconsequential when compared to the income generated by trading.

The Truth About Facebook Advertising My daughter Vivi was born on May 24, 2007, the same day Facebook CEO Mark Zuckerberg launched the ability for companies to build applications inside Facebook’s site. Within days, I had conceived of my latest company, Buddy Media. And we have been helping advertisers succeed on Facebook, and the other major social networks, ever since. Today, close to 1,000 companies, including 8 of the world’s top 10 global brands, use our software to manage their social marketing programs. This has given me a front-row seat to the social marketing game, and with it, access to a large set of aggregate data about the state of Facebook advertising. And I am here to report that the actual results we’ve seen are different from some of those cited in a story from The Wall Street Journal that mentions brand advertisers are souring on Facebook advertising.