Tuesday, August 14, 2012
The Price of Chasing The Next New Marketing Channel - Part I
Why is it that many marketers become so quickly enamored with the next new marketing channel? And at what cost?
What do I mean by the next marketing channel? For many marketers, the first new channel came in the mid-'90s with the creation of websites. And even though email started its humble beginnings in 1969, it wasn't until the '90s that it became a pervasive marketing channel.
In addition to email, marketers chased another channel: Internet marketing. In 1994, zero dollars were spent on Internet advertising. By 1996, US companies had invested $301 million dollars in Internet marketing primarily in the form of banner ads. By 2011, Internet ad spending was $32 billion. Yet we weren't content, and before we figured out how to strategically use our new channels, we charged off into new territory. In less than three decades, marketers had led heir companies into new channels -- many not mastering any of them. Our appetites for the new stuff seem insatiable.
Next time: Some things to consider before taking the plunge with your next new marketing channel.
To share common sense lessons learned with 40-plus years experience in marketing, sales and as a B2B publisher.
- I'm really just a "mature" guy picking up experience along the way. If only by osmosis, I've observed what works and what doesn't work under the marketing umbrella -- with 11 years in sales and marketing at Procter & Gamble; 30-plus years in B2B publishing (including three years as a publisher); and 1,000's of calls on every size company starting with the likes of Microsoft and Hewlett-Packard all the way down to small, brash start-ups.
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