Wednesday, February 27, 2008

New Marketing Authenticity Over Exaggeration

GapingVoid raises the question, which I have been pondering for some time regarding new marketing.

gapingvoid: "cartoons drawn on the back of business cards": so what's all this new marketing stuff, anyway?

  • 0712ifyoutalkedtopeople.jpg

Part of the answer comes from this article from Harvard Business School Working Knowledge.

Authenticity over Exaggeration: The New Rule in Advertising — HBS Working Knowledge Annotated

tags: communications, marketing, web2.0

    The new rules

    But what does this all boil down to for companies that want to be successful in this relatively new environment? In the working paper, Deighton and Kornfeld discuss 5 aspects of digital interactivity, including

    • Thought tracing. Firms infer states of mind from the content of a Web search and serve up relevant advertising; a market born of search terms develops.

    • Ubiquitous connectivity. As people become increasingly "plugged in" through cell phones and other devices, marketing opportunities become more frequent as well—and technology develops to protect users from unwanted intrusions. A market in access and identity results.

    • Property exchanges. As with Napster, Craigslist, and eBay, people participate in the anonymous exchange of goods and services. Firms compete with these exchanges, and a market in service, reputation, and reliability develops.

    • Social exchanges. People build identities in virtual communities like Korea's Cyworld (90 percent of Koreans in their 20s are members). Firms may then sponsor or co-opt communities. A market in community develops that competes on functionality and status.

    • Cultural exchanges. While advertising has always been part of popular culture, technology has increased the rate of exchange and competition for buzz. In addition to Dove's campaign, Deighton cites BMW's iative to hire Hollywood directors and actors to create short, Web-only films featuring BMWs. In the summer of 2001, the company recorded 9 million downloads.

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