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Webinar: "Marketing is Dead": Do You Agree? With Bill Lee and Mitch Joel

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WEBINAR: "Marketing is Dead": Do You Agree? Watch the recording by clicking the orange “Play” button in the player below.

Marketing author Bill Lee triggered a firestorm of controversy when he declared recently in a provocative Harvard Business Review blog post that traditional marketing – including advertising, public relations, branding and corporate communications – is dead.

What do you think? Is it time to sound the death knell for traditional marketing? Is traditional marketing still alive and well? Are paid, owned, and earned media merging?

Bill Lee: Marketing is Dead (his thoughts below)

Traditional marketing- including advertising, public relations, branding, and corporate communications- is dead. Many people in traditional marketing roles and organizations may not realize they’re operating within a dead paradigm. But they are. The evidence is clear.

The way that marketing is perceived by customers has dramatically changed. Buyers aren’t paying attention. They’re increasingly doing research on their own through online resources and social media before ever engaging with your brand.

According to a Corporate Executive Board study, 57% B2B customers buying decisions are complete before they engage with the supplier. By then, they don’t need to consult with any sales people. Instead they want to know what their peers and other customers think of the company.

CEO’s have lost all patience with CMO’s. 73% say CMO’s lack credibility and ability to generate sufficient business growth. 72% are tired of being asked for money without explaining how it all will generate increased business. 77% have had it with all the talk about brand equity that can’t be linked to actual firm equity or any other recognized financial metric.

The traditional marketing approach to marketing and sales doesn’t make sense especially in today’s connected world. Employees, consultants, partners, etc don’t come from the buyer’s world and they don’t share the buyer’s interest. This is not a promising arrangement to persuade people. Social media makes it easy for prospects to connect with buyers.

Stop trying to persuade buyers. Get skilled at getting your customers to persuade and influence your buyers using four pillars of new marketing:

  • Restore community marketing
  • Find customer influencers
  • Help them build social capital
  • Get Advocates involved in the solution

Mitch Joel: Marketing isn't Dead. Marketing is Everything (his thoughts below):

Marketing (which encompasses everything from product, price, place, promotion) is not only alive and well, it’s core to a business’ success. In short, marketing isn’t dead. Marketing is everything.

Everything is with, not instead of. While some things might become antiquated or less powerful, they’re still very relevant.

Some brands in the pharmaceutical or finance industry, for example, have to live in the domain of creating a level of persuasion because they're regulated by law or have products that have incremental difference to their competitors.

Advertising is not dying. In fact, it’s not on life support, it’s not sick, and it probably doesn’t have the sniffles.

Just because you trust your peers more than advertising, doesn’t mean you can’t see an ad. I don’t need peer reviews to decide to switch toilet paper. Some brands need to put the message into the general zeitgeist of the world that their product now has variance on it- it’s now on sale or has a new feature.

Brand advocacy programs are absolutely critical. However, the challenge we face is that if they’re successful, it takes a lot of work. It’s the difference between dropping a bomb and doing hand to hand combat door to door. Brands must be prepared for the success that will come with engaging Advocates.

If you want to inform a large audience about your brand, advertising is still very much alive (as is marketing, thank you very much). Saying that marketing is dead is like saying that product development is dead and that branding is dead. It may get a lot of clicks, but there's no substance or truth behind it.

Featured guests:

Bill Lee (@bill_lee)

Bill is the President of Customer Reference Forum and Executive Director of The Summit on Customer Engagement. For the last nine years, his conferences have drawn leading customer engagement and advocacy practitioners from top global firms as well as dynamic smaller firms. In addition to its widely respected conferences, Bill and his team at Lee Consulting Group provide workshops, consulting, research and other educational and community building services to help clients reinvent customer relationships and achieve dramatic growth. Bill is the author The Hidden Wealth of Customers (Harvard Business Review Press, June 2012), which has been featured in Forbes Online, Fast Company Online, Marketing Magnified (CMO Council), CRM Magazine and other publications.

Mitch Joel (@mitchjoel)

Mitch Joel is President of Twist Image - an award-winning Digital Marketing and Communications agency (although he prefers the title, Media Hacker) and author of Six Pixels of Separation (Business Plus, 2009). He has been called a marketing and communications visionary, interactive expert and community leader. He is also a Blogger, Podcaster, passionate entrepreneur and speaker who connects with people worldwide by sharing his marketing insights on digital marketing and new media. In 2008, Mitch was named Canada's Most Influential Male in Social Media, one of the top 100 online marketers in the world, and was awarded the highly prestigious Canada's Top 40 Under 40. Most recently, Mitch was named one of iMedia's 25 Internet Marketing Leaders and Innovators in the world. His next book, CTRL ALT DEL will be published in May 2013.

Rob Fuggetta (@robfuggetta)

Rob Fuggetta is the world’s leading expert on brand advocacy. Fuggetta is the author of the ground-breaking new book, Brand Advocates: Turning Enthusiastic Customers into a Powerful Marketing Force. Published by John H. Wiley & Sons, Inc., a major business publisher, Brand Advocates shows how companies are leveraging Brand Advocates to build their brands and businesses – and how you can too! Fuggetta is the Founder & CEO of Zuberance, a social media marketing company that powers Brand Advocate programs for top consumer and business brands. Prior to founding Zuberance in 2008, Fuggetta was the Chief Marketing Officer at Genuity, a Verizon spin-out. He also was formerly a partner at Regis McKenna, Inc., the legendary high tech marketing and communications firm in Palo Alto, where he co-led the global Apple account.

Consumers Don't Trust Brands, They Trust Their Friends

Dear Brands,

Consumers don’t trust you.

Sincerely,

The truth.

OK, maybe that’s a little dramatic, but a new study by Nielsen found that consumers are indeed losing faith in paid media and looking to their friends for brand recommendations more than ever before.

  • 92% of consumers around the world say they trust earned media (recommendations from friends and family) above all other forms of advertising, an increase of 18% since 2007.
  • 70% trust online consumer reviews, an increase of 15%.
  • Less than half of consumers trust TV, magazine, and newspaper ads, which is a 25% decline from previous studies.

(Click on the image to enlarge.)

With the rise of social media and third party review sites, everyone has a voice these days. Even my Grandma told me she wrote a Yelp review of her local Hometown Buffet (she gave it 5/5 stars of course). It is now crucial that brands get their Advocates to venture out on the social web and recommend on their behalf.

Check out these success stories of companies empowering their Advocates:

To learn more about leveraging your trusted and influential Brand Advocates, download “Turning Fans and Followers into Brand Advocates.”

Top 5 Reasons Why Brands Need to Focus on Earned Media

To download the white paper, click here.

Marketers currently face a barrage of challenges and shifts in the way consumers engage with their brands. The over-saturation of advertising, and an ever-increasing distrust of ads, has led to a decline in the effectiveness of Paid Media. All the while, Earned Media is only gaining momentum, and for good reason. Today, it's Earned Media impressions that are building brands and paving the way for an open dialogue between companies and their customers.

Download the white paper and learn:

  • Earned Media is the most trusted and credible form of content for a brand
  • Social media has amplified the sheer quantity and reach of Earned Media
  • 25 to 40% of all traffic and lead generation comes from Earned Media
  • Earned Media Lasts
  • Earned Media is Measurable

Paid vs. Earned media was also the topic of our recent webinar featuring Forrester's Sean Corcoran, Edelman Digital's David Armano, and Zuberance's Rob Fuggetta.

Click here to watch the webinar recording, "A Marketing Imperative: Balancing Paid vs. Earned Media."

-Cara Fuggetta, Marketing Manager, Zuberance

Slidecast: A Marketing Imperative: Balancing Paid vs. Earned Media

Last week I moderated a great webinar for Zuberance on the subject of paid vs. earned media. We had four presentations, and you can listen and watch the entire one hour webinar as a slidecast.

Marketers, take a brief survey for an iTunes gift card! #PaidvEarned

We’d like to learn more about your experiences with Paid and Earned Media. Take the survey now for a chance to win an iTunes gift card! Marketers who fail to drive and leverage earned media may be risking the opportunity to increase brand awareness and reputation. Some new media evangelists, however, will tell you that social media will replace traditional advertising entirely. But the truth is – success for today’s marketers is learning how to leverage both.

We are conducting a brief survey to identify the questions, concerns and strategies marketers are experiencing with balancing Paid and Earned Media. The findings will be shared on our April 19 webinar, "Balancing Paid vs Earned Media" featuring Forrester's Sean Corcoran and Edelman Digital's David Armano. Learn more about the webinar here.

400 respondents will receive a $5 iTunes gift card! Take survey now!

-Cara Fuggetta, Marketing Manager, Zuberance

Upcoming 4/19 Webinar- Balancing Paid vs. Earned Media #PaidvEarned

Zuberance is co-hosting a webinar with Forrester Reasearch Inc’s Sean Corcoran and Edelman Digital's David Armano about how marketers can learn to more effectively balance Paid vs. Earned Media. Date: Tuesday, April 19

Time: 10am PST/1pm EST

Register here

We live in the age of the informed, connected and social consumer.  Marketers who fail to drive and leverage earned media may be risking the opportunity to increase brand awareness and reputation. Some new media evangelists, however, will tell you that social media will replace traditional advertising entirely. But the truth is – success for today’s marketers is learning how to leverage both.

Marketers Will Learn:

  • How to appropriately leverage Earned Media vs. Paid Media.
  • How to gain more Earned Media by tapping a large segment of your highly satisfied customers (aka Brand Advocates).
  • How to integrate Earned Media into your existing marketing efforts.
  • How to measure the impact of Earned Media

Register now!

Tell us about your experience with Paid and Earned Media

We’re conducting a brief survey to identify the questions, concerns and strategies marketers are experiencing with balancing Paid and Earned Media. The findings from this survey will be shared on the webinar.  Take the survey now!

Featured Panel:

  • Sean Corcoran, Senior Analyst, Forrester Research Inc (@seancorc)
  • David Armano, SVP, Edelman Digital (@armano)
  • Rob Fuggetta, Founder/CEO, Zuberance (@robfuggetta)
  • Moderator: David Spark, Social Media Journalist, Spark Media Solutions (@dspark)

Learn more about the webinar.

We hope you will join us!

-Cara Fuggetta, Marketing Manager, Zuberance