Marketing Communications is analogous to a conversation.

It is particularly true today.  The Internet has empowered consumers to challenge, advocate and interact with the companies of their choosing via readily available and inexpensive forms of mass media.

Marketing conversations were largely one dimensionl pre-Internet.  Regular and hopefully relevant messages were filtered via various marketing channels and disciplines to the end customer.  They were generally self serving:

Look at this new product!
Take up this offer on this new package!
Here’s what we think about this. Aren’t we smart/committed/interesting?

The conversations were intermittent and short lived – more often than not the communication existed to drive sales, acquire new customers or build a brand image.  Budgets and marketing finance decisions were similarly focused on near-term outcomes.  Business priorities  were identified at the beginning of the year and then in quarterly planning cycles.  Dollars, Pounds, Rupee, Dinar etc. would be allocated.

Most companies still manage their marketing programs in this way today.

At the end of the fiscal year, if the marketing department has done its ‘job’ properly, all of the dollars are spent.   Like a deciduous tree all of the leaves have fallen off and the tree remains bare for a period of time .

The conversation goes on hold.

This isn’t a problem if the company is continually talking about itself but if the company has been successful in initiating a conversation, then consumer’s will notice – unhappily.

Many well established marketing practices are no longer relevant or useful in the context of social media, including traditional approaches to budgeting.  Social media demands that brands commit fully to the online conversation – you can’t pull in and pull out when it suits you.

One way for companies to tackle this issue is to embed social media engagement (and related costs) inside standard business process.

Ford has a plan to have 2% of its workforce telling the story of their lives at Ford via social media.  This combined with a dedicated resource for social media strategy and measurement allows the company to engage in authentic conversation over the l0ng term.

Failure to identify the necessary resources for social media engagement is one of the main reasons why projects fail to get off the ground, in my experience.  Lack of resources is one issue but cultural and procedural structural barriers to the long term view are another.

Senior marketing professionals need to adjust their mindset, and that of their organisation, to the new dynamics of social media and continuous conversation.

Tags: Advertising, branding, Budget, conversation, finance, marketing, promotions, socialmedia