It’s been over two months since I last posted something on this blog. There are many reasons why this happened, but I think that the most important one is that the winter holidays came across and they sent me far, really far away from all the hustle and craziness of my job. Good thing I’m back, I really missed having this “pinch of stress” making me go round and keeping me alert.
First of all, as most of you have already noticed at this point in time, we’ve started a brand new year 11 days ago, so my best wishes to all of you and I really hope 2010 come full of excellent news and open brand new horizons to explore. That being said, I believe it’s time to make an annual review to understand what 2009 brought about, good and not so good, and try to figure out what 2010 has in store for us. A challenging task, I may add, but a necessary one. I’ll try my best to summarize and synthesize, so I don’t get lost in the details.
Here some of my thoughts:
2009
The Year of the Crisis
2009 was a difficult year for us all. Crisis and unemployment were at the center of the debate, and countries such as Spain -where I happen to live -still haven’t quite overcome the negative effects these two have brought about. At least in this country, thousands of jobs were lost to the economical crisis, limiting people’s purchasing power, slowing down the entire economy, and getting us into a vicious cycle that’s been really hard to break. In the case of the company where I work, our primary market is the US, a country that during 2009 underwent one of the most profound economic and financial setbacks in its History. With a diminished purchasing power, more price-sensitive customers and lack of investors, marketing strategies had to adjust to smaller budgets to be competitive without foregoing quality. To give a concrete example, this difficult period meant that many of us (marketers) had to roll up our sleeves, and do the some of the dirty work we would normally delegate on advertising agencies and other personnel within and outside the company. One of the most common marketing expenses during the prosperity years was hiring advertisement agencies and paying big upfront fees for consultation and design when we weren’t really running large ad campaigns. This would save a lot of time that allowed us to focus our efforts on more strategic matters, while operational tasks were left in the hands of professionals who would report to us and give results. Given the circumstances, in 2009 we had quit the glam of bossing people around, and had to make do with good independent graphic designers, negotiate rates, and close deals with providers by ourselves.
However, even when 2009 meant a lot extra work and effort for those dedicated to marketing (and in general for everyone in the company), it also opened new opportunities to successfully put on the market new and more original solutions. Sad at is, big companies going out of business or losing a part of their market share opens new windows for those smaller and less well known companies offering alternative solutions for lower prices. It’s widely accepted that basing our marketing strategy on the sole fact that our prices are better than those of my competitors’ is a huge mistake. However, penetrating markets based on cost-effective solutions helps, at least in the short term and as a first stage in our marketing startegy, to seize opportunities that were previously out of our reach.
The Year of Social Media
It goes without saying that no matter how deep the crisis, marketing actions are of great importance for those willing to do anything in their power to prevent the ship from sinking during the storm. No matter how little money we have, we must invest in letting our target know who we are, what we do and our advantages over our competitors. If we don’t do it, how are we supposed to sell anything in the first place? In this sense, the massification of Social Media helped many marketers to save money while targeting their desired audience. The increasing importance of Facebook, Twitter, My Space and many others led to the discovering of new ways of interacting with customers, spreading out the benefits of our products/services and engraving our brand or company name in the minds of thousands of people.
By now, we all acknowledge without reservations that the web has become a very necessary and powerful tool to developing marketing campaigns. But when it comes to technology and the Internet, I truly believe that this is just the beginning and that more pleasant surprises are still to come.
The Year of Connectivity
Either with their cells (mobiles for Brits!) or with their laptops, people like to be connected 24/7. They check their mail, text their friends, update their status, listen to music and watch videos everywhere, anytime. This behavior has become a great opportunity for marketers to profit from the ongoing online activities of hundreds of thousands of people who spend most of their time connected and, more importantly, are receptive to our message if the message is right, of course. Designing advertising campaigns especially suited for portable devices seems to be the promised land, and finding the right approach to engage people has become the objective of marketing professionals around the globe. Embedding publicity in videos, sending text and video messages with promotions to mobile phones, and designing shared revenue campaigns are among the many original ways of advertising via small factor devices.
Two important rules, though. First, not being intrusive and spamming people with countless messages or obtrusive ads that interfere with what they are doing. Second, make your ad as interactive as possible. People are tired of just being passive receptors: whatever you’re doing, they want to participate.
2010
I’m sure that many other important events occurred in 2009, and I’ll gladly welcome comments in that respect. But it’s time to move on and take a look at what 2010 has got to offer. After such a difficult year, we all hope 2010 arrive with more prosperity and enhanced horizons, but for some economies this is still wishful thinking. The truth is that this crisis was a major setback, and some still are suffering the consequences. Our budgets will still suffer from the recent setback, and we’ll have to be careful on how we allocate resources, always keeping in mind long and medium term objectives.
This year, in the post-crisis world, marketers need to deliver customer value and differentiate from their competitors. Consumer spending, even on sale items, will continue to be replaced by a reason-to-buy at all. This spells trouble for brands with no authentic meaning, whether high-end or low.
Marketing is getting more personal and emotional, trying to engage increasingly disloyal customers who are more sophisticated, better informed and opinionated. Social Media will keep on being a key to attracting new customers and designing strategies to maintaining the loyalty of existing ones: it’s all about improving their experience with our products/services, and making them feel their contributions are an important part of what we are doing. This will help the company boost the word of mouth, but not just any word of mouth, but the right word of mouth within the community. This means the coming of a new era of customer care. We have to be prepared to listen to them, and listen hard. They will certainly give us a lot of ideas, positive feedback and invaluable inputs, but we must be prepared to accept critics and, more importantly, do something about it. Interactive marketing is more relevant than ever, and the more we succeed in having our customers participate in our marketing actions, the more we will be able to strengthen our brand, our company name and our image.
Modern marketing has become a two way conversation that utilizes traditional, digital and social mediums to connect with existing and potential customers. For those dedicated to online marketing, mastering analytics and customer intelligence is a must. Analytical skills are paramount to making complex fact based decisions and generate relevant insights from available data.
Mobile advertisement is gaining popularity and delivering results. It is expected that in 2010 this trend continues, or even grows, spanning new consumers that, up until this day, didn’t have access to small factor devices. The massification of mobiles, laptops, MIDs, etc. is leading advertisers to adjust their ads to this new formats, where contents and messages have to be strongly appealing, brief and personalized.
A challenging year, 2010, but also full of perspectives and hope!
