There is a LOT of hype about social media and internet marketing.
It is TRUE that the internet is changing how people buy – and even what they buy and when they buy.
You are strongly advised to have an internet/e-commerce strategy.
But when it comes to marketing on the internet, I would equally suggest caution. Consider the following facts:
• 99.9% of people who are served an online display ad do not click on it.
• TV viewership is now at its highest point ever.
• 96% of all retail activity is done in a store and only 4% is done on line.
• 99% percent of all video viewing is done on a television and only 1% is done on line.
• Since the 1990s, click-through rates for banner ads have dropped 97.5%.
• Since the introduction of TiVo, real time TV viewing has increased over 20%.
When you innovate and try new things you will discover the fine line between being on the LEADING edge vs. being on the BLEEDING edge.
Whilst the internet is changing behaviours and opening up new channels, it is worth remembering a few salient, universal truths about marketing - I call it the Dennis Price Rules of Marketing :-):
• You get what you pay for.
• People want what they want – when they want it.
• The consumer is not a moron – she is your wife. (Ogilvy.)
• Nothing is the answer to everything.
There are many social media charlatans – tread carefully. It is such a young and rapidly changing discipline that there few real experts out there. So a few warnings:
• Being young or hip does not mean that you understand it any better.
• Being ubiquitous is not the same as being influential.