McKinsey Survey - Global Perspective on ...

A McKinsey survey of marketing executives conclude that companies, around the globe, now more actively include online tools as essential components of their marketing strategies. However, the executives also point out that they use digital tools less frequent than their importance actually suggest. Main reasons for a less active role in the online community than actually preferred are:

• Internal knowledge level about social networking (blogging, forums, expert groups) and online marketing is too low
• The marketing executives for these multinational companies conclude that their marketing agencies lack the capabilities required in order to effectively use the digital marketing tools available.
• Absence of meaningful metrics. (what gets measured gets done...)

“Numbers never lie, liars do numbers…” That was me saying that, based on my personal experience. Keep this in mind when someone present statistics to you. Despite my healthy scepticism to statistics, here comes some interesting numbers from the McKinsey’s Survey - In 2010 respondents expect that a third of their products or services will be purchased on the Internet! The worlds largest multinational companies now start to direct their marketing machinery towards a more active role on the Internet - things will happen.

The Power of Social-networking!
If you have ever worked with social networking, you know the immense power of blogs, release of online articles, user forums and much more. Economist released an article this week - "Social-networking and video-sharing sites are booming" - in which they state that YouTube has more than 200 copycats only in China (10% of these are backed by venture capital). Here is China's response to YouTube - Todou.

How do you get started with Social-networking?
Well, that's actually a good topic for my next blog, but until then take a look at this Keyword tool supported by Aroon Wall. In Aaron's Keyword tool you type in any word and out comes a VERY info-heavy table with links to all blogs, articles, tagging, forums, news about this subject. Your challenge is now to identify the discussion groups and topics that you want to actively contribute to. You will quickly find that this type of active engagement, not only improves your knowledge about customers, suppliers and investors but you also regain some of the control you feel that you lost with the explosion of social networking.

I will give another example; try Serph and type in your company name. Serph will, within seconds, provide users with a list to all blogs, user forums and you have it, that display what customer all over the world have to say about your services and your brand – pretty intriguing and energizing!

Executives interviewed by McKinsey comments on the Social-networking trend
”Collaborative tools such as blogs, wikis, and social networks are being used in advertising, product development, and customer service. At the simplest level, for instance, 22 percent of the respondents say that their companies host user forums for customers to help one another. Just over a third of all survey respondents—and just over half of those whose companies advertise online—say that their companies use some kind of collaborative or interactive tool to advertise. About 22 percent are using these tools for customer retention, which fits into the common understanding that they help build relationships between customers and companies. More interestingly, nearly as many respondents, 19 percent, use collaborative tools primarily for brand building. The enthusiasm for experimenting with these tools is clear: more than a third of the respondents don’t know what marketing objective their investments in collaboration and interactivity serve, yet some 15 percent of companies’ online-advertising budgets go to such tools.”