#1 Focus on success in social media
2008 will be the year that determines which agencies actually understand social media, and which ones should stick to their core competencies. In 2006, most people were asking, “what is social media?” By 2007, the tone had changed to, “how can we participate in social media?” In 2008, success for simply participating is over. Expect this year to be focused on “how to succeed in social media.” The agencies with a successful social media track record in 2008 will earn their positions as the new leaders of marketing and communications in 2009.
#2 Reuniting old disciplines
Social media bridges together the two siblings of communications, advertising and public relations. It takes a thorough understanding of each discipline to make social media succeed and understanding comes from respect. Like quarreling siblings, respect is something I see little of between these two disciplines. Expect new bridges to be built, both on the client and agency sides, between marketing and public relations divisions in 2008.
#3 Prepare for another industry shuffle.
Combine the high loonie/low greenback with the possibility of a US recession, client demands for more value in their marketing dollars may be higher than ever in 2008. Couple zero media buy with a dramatically reduced production budget and social media may be the most fiscally responsible place for marketing futures. As the big agencies continue the struggle to keep revenues in house, I expect 2008 will be a preparation year with an eye to closing out the decade with a major round of boutique agency buyouts, corporate mergers and amalgamations.
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3 Responses to “Three Marketing and Communication Predictions for 2008”
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January 2nd, 2008 at 2:28 pm
I’d like to see better measurement of Social Media – way too many companies are sticking their chest out “claiming” the are doing it right, but who really is?
January 3rd, 2008 at 4:27 pm
Dave,
I imagine it is the same percentage of people that are actually succeeding in traditional media.
in other words… not many.
c
February 19th, 2009 at 8:30 am
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