Is it me or are we all becoming really predictable?
It seems that every year the “business” buzzes itself into a frenzy as journalists, trendspotters, creative execs and conference panels dogpile on the “next big thing” (and this isn’t a news flash, but things seem to be getting worse). Granted, there are some really smart people out there that catch these trends, but more often than not we all latch onto them like a sirloin steak thrown to a pack of sled dogs. The smart, or at least bold, stock pickers find themselves trailed by a herd of lemmings looking for the penny investment (in the form of some kind of emerging media, technology or content opportunity) that’s going to help them solve all their media/marketing woes and hit the big time.
I’ll admit, I’ve been caught in the herd before. Remember when Mark Burnett was the nearly anointed the marketing messiah? Oh yes, I was there on the agency street corner, chanting about the end of the world, and ready to accept Mark Burnett as the industry savior… or at least pushing like hell to get into expensive, overpriced “brand integration opportunities” . I’ve gotten over it; apparently others have not.
Before that it was Double Click and Google on the road to pay-for-performance, all of course before the unveiling of click fraud. Some may even recall the hype surrounding the rise of direct marketing and CRM in the 90s. Now it is Blogs, Web 2.0, CGM, Second Life and a late (if not ridiculous) jump on the CGM bandwagon.
Cynicism aside, you have to admire the agencies that get their internal folks and clients truly committed to these unproven tactics. We all know that this in and of itself can be a huge accomplishment. Not all are quick to jump on the new, and many would rather stand still and watch the world go by. So what’s an agency to do? Pardon the cheap analogy, but perhaps more of a “portfolio approach” is needed. Like anyone saving for the long term or managing a portfolio of investments, a healthy mix of the old and new, the steady growth and immediate response, as well as some higher risk for potential reward is much more likely to yield a return.
Once we all stop chasing the shiny new objects and begin looking at the sum of all parts, we may find ourselves with much more money in our collective accounts.
2 responses so far ↓
1 Joanna Pena-Bickley // Jan 20, 2007 at 12:59 pm
Reading about your growth of interactive media giants makes this interactive marketer very excited. I applaud brands that are taking risks and jumping in to the deep end.
In speaking with risk adverse brands that want to build communities, What if any safe guards does Second Life offer to brand marketers? And when is it just wallpaper / noise to the inhabitants of the community?
see my post at http://joannapenabickley.typepad.com/
2 Idea City - New Thinking about Marketing, Advertising, and Culture » Running the Second Life Numbers // May 25, 2007 at 9:49 am
[…] The critics are quick to dismiss Second Life in particular, as many brands and advertising agencies jump on “the bright and shiny object” for pr and hype. From this perspective I completely agree, island building and one-off events are not quick hit brand solutions and clearly not a way (yet) to reach a large audience. They could be however, much more effective in the way they are used as part of “blended reality” or better yet multiple touchpoint campaigns. This is experimentation, influencer outreach people not the road to ROI (yet). And ultimately consistent content is the only way to keep your presence worth the lindens. […]
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