I have the privilege of belonging to MENG, the Marketing Executive Networking Group. MENG is a national network of top-level marketing executives.
Last week I asked four senior marketing executives from the network how Location Based Services and Technologies will affect their practices.
Without more introduction, here are their shots.
These platforms and the technology behind them make the entire world much more visible. Experts will still be valuable, but expertise will become more widespread. The holes in our knowledge will become much clearer. My Dad calls this understanding the periphery of our ignorance. Clarity both makes our individual weaknesses much more visible and collaboration much more important. The ability to embrace the tools and become comfortable with our own personal shortcomings will be the difference between success and failure in the emerging economy.
I believe one of the keys to success is understanding what translates from platform to platform and how each platform works. One advantage for us is that there are no experts. There is a mismatch between management perspective and knowledge of the technology. Younger people generally know the technology and what it can do, but do not have the experience to apply it effectively. Senior managers understand business and have the C-level perspective, but don’t understand all the implications of the new technology. There are no experts. They are being developed day-by-day as we all learn.
“The funny thing about mobile marketing is that the technology that makes it interesting also makes it irrelevant. Mobile marketing is a bit of an answer looking for a question. The web has generally made physical location irrelevant for everything but the most basic functions – and ones you are unlikely to need unless you are traveling out of an area you live or work in and already. I think it is a big idea as a marketing tool for travelers (business and leisure), but it may only be a very tactical tool, but then it is really only valuable for businesses for which I already know the quality – starbucks, pizza hut, kinkos – or I need someway to evaluate the quality (telling me there is a chinese restaurant around the corner is almost useless to me unless I know the quality of it. On the other hand, combine it with facebook, twitter, or even Match.com and it suddenly becomes an interesting social networking tool…or a creepy big brother stalking tool. Overall, I think it will be another tool, but not a game-changer.”
Managing Partner, Old greenwich partners
As our tours appeal as much to locals as they do to tourists, location based social networking has increasingly gained our attention. To date we have had the most success among bloggers with our Rock and Roll Tour of Manhattan, reaching out to those who show an affinity for rock music and history. We will continue to foster relationships with subject matter pundits and thought-leaders, particularly as we reach out into new geographies with our tours. Locally focused community sites are a great way for us to build word of mouth and to look to share the enthusiasm that our customers have for the products. This is less a matter of buying media and more a matter of fostering a dialogue and relationship with opinion makers in local regions. Beyond marketing, we will look to these new networks of customers to help us identify new product opportunities and to engage them in spontaneous events that can add a new dimension to our user experience.
Founder and President – CityListen Audio Tours
“In my opinion 90% of marketing dollars are wasted. Why? Because we have to communicate to people who have no interest in a particular product or service when it is mentioned to them. Location Based Services may save marketers more than half the wasted effort and expense by using “where-you-are-and-where-you’re-going” information as context to interpolate interests and intent. So, the right information goes to the right person with a need to know in the right format at the right time. It’s the way advertising should be!”
Consulting Chief Experience Officer