Image Credit: The Library of VirginiaAre you still ignoring social media? Think it is all just a bunch of hype? Only techie kids are using it? Social media has shown tremendous growth in the past couple of years, but you are still skeptical and are still not ready to commit real currency. If you are one of the sceptics, then you should give it a second or fifth glance already.
Traditional advertising model is, well….. BROKEN. British marketing and advertising giant WPP just announced yesterday that their profit have tumbled 47.9%. Yes you heard it right- forty seven point nine percent!
Will the advertising industry recover?
Some will and others won’t. The agencies that keep trying to milk the traditional marketing mediums (print, television, radio, etc.) will keep seeing their customers decline and profits tumble. WPP will be one of powerhouses that will recover as Sir Martin Sorrell understands the movement to digital marketing agencies and is implementing the appropriate changes at the firm.
I am not telling you to drop everything you are doing in the traditional space and put all of your money in the digital marketing basket. But start taking the new media channels seriously, and educate yourself and your clients on the potential of these tools. Understand that this is a paradigm shift in the area of human communication.
If your excuse is still, “Well our target market is moms with kids who probably don’t use these tools as social media is for the tech kiddies.” Even if this excuse was true although it is NOT TRUE, as there is hard data showing the older demographic is embracing the change; the tech kiddies will grow up and be moms with kids someday anyways. If you don’t want to be the next company to go bankrupt then you have to be prepared for your evolving target market.
If you want to succeed, then you would be better off embracing CHANGE once in a while.
Check out the video below:
Thank you for reading! If you have not already, why not subscribe to my RSS feed, or you can get the latest updates from me in your Email inbox for free.
Thanks for visiting and keep in touch ~ Alex.
-
August24th
5 Ways to Get Inspired
Posted in: Inspiration
Image Credit: Library of Congress
There are times when we are stuck and just can’t get any ideas flowing in our minds. For me, today was one of those days, and to solve my dilemma I came across a neat article that jolted me with ideas and energy.
It also encouraged me to write my own list of ways I get inspired and get valuable thoughts flowing once again. Mitch Joel ‘s article, 6 Ways to Inject New Ways of Thinking Into Your Business lists some great ways to generate new ideas for people for whom anything digital matters; if you own a business, it matters! Read More
-
August20th
Start Acting Like a Wolf
Posted in: Social Media
Have you ever wondered what makes music, fashion, or even the names of our kids popular? Someone has to stick their head out and introduce crazy ideas like the Crocs. Who really thought that funny looking rubber shoes would sell so well that the company would even go public? They succeeded because of the herd mentality.
Back in the Soviet Union, one of the favourite past times of American tourists was starting line-ups. How it works: two people stand beside a random door and wait for enough people join the line that they can escape unnoticed. People would keep standing in the line for hours not knowing what was going to come from the mystery door. Pretty sad but true. This is a really basic example of a herd. Mark Earls, author of Herd: How to Change Mass Behaviour by Harnessing Our True Nature, in the video below defines a herd as a way of describing how large creatures (humans) interact with each other.
People follow other people’s decisions because it is much easier to do what others are doing other than thinking for themselves. I challenge myself and YOU to be the wolf to lead a bunch of sheep in this society. Be the thermostat and not the thermometer! (More on this soon)
Do you believe we live in a herd society?
Thank you for reading! If you have not already, why not subscribe to my RSS feed, or you can get the latest updates from me in your Email inbox for free.
Thanks for visiting and keep in touch ~ Alex.
