Do you agree that As More Power Shifts to Consumers the Need Grows For 'Renaissance Marketers'?
Together with a deeper understanding of Interactive Marketing
Interactive marketing communications isn't new, but it's gaining momentum as
power shifts from the marketer to the consumer and as marketers recognize the
power and efficiency of taking a integrated approach to engaging consumers.
Several studies indicate that achieving effective Interactive Marketing
Communication campaigns is marketers' primary concern, one research study
indicated that, properly executed, interactive marketing is considerably more
effective allowing a Client to half his current advertising budget and be, at
least, 50% more effective.
"COST EFFECTIVENESS: Professor E.L. Roberto, PhD, Coca-Cola
Foundation Professor of International Marketing reviewed the £5 million of
independent research conducted on behalf of Interactive communication and
provided this summary as to the techniques cost efficiency:
"The Interactive "Event(s)" participating brands generated recall scores that
are more than 50% productive than normal advertising. The effect on purchase
intention is just as impressive if not much more.
All these productivity increments are attainable at a reasonably inexpensive
budget. One Client revealed that for its participating brand, its quarter
television expenditure was $5.7 million as compared to its interactive budget
of $0.5 million. This 1:10 ratio has been obtained in Interactive experience
in other countries."
However there is considerable uncertainty about how to staff, design, manage
and measure the success of such programs.
For too long, marketing functions have been vertically organized by media
type. This approach is mirrored on the agency side, with class rewards based
on discipline-specific P&L models. These must be torn down.
On the client-side Marketing and Brand Managers must involve and lead a
team of colleagues who have the responsibility, vision, understanding and
commitment to engage in a media-agnostic planning process. And this team of
enlightened marketers must be willing to let strategic goals -- not historic
patterns -- drive budget allocations.
Achieving strategic integration requires a top-to-bottom reinvention of the
marketing organization. This transformation must be led by holistic
professionals who are system thinkers, customer-centric believers, innovators
These individuals should be cross-trained to understand the entire marketing
spectrum and learn discipline-specific skill sets. And to specifically
understand the real meaning of the word "communication" Increasingly, these
leaders will need strong quantitative skills -- in order to analyze the
data-rich resources and leverage mathematical tools now available, especially
if they are to drive cross-disciplinary approaches that fuse disparate
consumer-engagement channels. Above all, they need to be superior team
leaders who have the insights, talent and passion to take marketing integration
to new heights.
Engaging in conversations with relevant markets (Interacting) will become an
important source of knowledge and innovation, the quality of this market
intelligence has already (and will do so more in the future) proven to be more
accurate than research and will determine market share.
Without interactive communication your efforts to create new products and
markets will be taking place in a vacuum.