“80% of decision makers say they found the vendor, not the other way around.”
The growth of Social Media is dramatically impacting how agencies promote themselves.
As Social Media hits the mainstream, I thought agency readers would enjoy a few excerpts from John Miller’s, “Marketing 2.0 Hits a Tipping Point.” This article was featured in the CMO Council’s Marketing Outlook 2008 study.
“Marketing 2.0 is by no means a brand new idea, but this year’s Marketing Outlook survey demonstrates that 2008 is the year it will tip into the mainstream.”
Comparing Traditional Marketing with Social Marketing:
Gaining the Prospects Attention
- Traditional Marketing uses push marketing tactics, such as cold calls and unsolicited email, that work but only if they interrupt the customer’s attention.
- Social Marketing uses “behavioral marketing” techniques to engage when and how consumers want, in direct response to behaviors and buying signals.
Controlling the Message
- Traditional Marketing, markets to prospects. Marketers attempt to control the message as well as the customer’s buying cycle and agenda.
- Social Marketing, customers interact with each other, and marketers nurture passion and engagement from their best customers – marketing with prospects.
Measuring ROI and Accountability
- Traditional Marketing was characterized by a severely limited ability to demonstrate ROI and marketing accountability, which led to the perception that marketing is a cost center.
- Social Marketing gives marketers the ability to measure the bottom-line impact of every marketing activity, to quantify the impact of changes to marketing budgets, and to demonstrate marketing’s impact on revenue.
Today’s CMO lives in a world where traditional marketing practices are no longer acceptable.
- Don’t want to be interrupted
- Have found ways to screen out, throw out and tune out unwanted marketing messages
- Use online tools and techniques to seize control of their buying process
- Seek out the information they want when they want it
How does this impact ad agency new business?
With a majority of decision makers saying they found the vendor, The smart ad agencies will be the ones which make sure they can be found when and where the prospect is looking! Agencies need to promote themselves using Social Marketing strategies.