By Margaret Nathan
According to the buzz coming out of SXSW (South by Southwest), this was this year’s mantra. And I have to admit probably nothing is truer. It’s hard for me to believe Facebook and Twitter could start a revolution, but it did and that’s now history. But there is something else that can bring down a company. As we move past the financial crisis and things begin to grow again as they appear to be doing however slowly, companies and brands need to quite saving their way to profit. I’ve worked through more down turns than I care to admit and this is the first time I’ve seen such huge cuts in marketing and public relations. And at the moment, I don’t see a huge uptick in spending yet.
Yes, business is better for most of us in advertising and public relations these days, but nowhere near where it should be. Facebook and Twitter may be able to start a revolution and take down a company, but it’s not a replacement for traditional and even non-traditional marketing and PR. Social media is cheap, basically it’s free, but it can’t replace updating your brand style, investing in new restaurant décor and menus. It can’t replace customer service and good word-of-mouth and sampling buzz. For all the talk about the death of the traditional media, did you know that USA Today is still the #1 media download for the iPad? I don’t think traditional media is dead. . .I think it is morphing into an even better must have through beauty of the iPad and smart phones.
So companies come on, start investing again. Start spending money reinventing your brand and your company. Get in our face again. Remind us why we are supposed to buy your products, work for you company and love your brand.