Changing Channels

Growing up in the 70's and 80's, I vividly recall the Van Halen and ACDC posters that filled the walls of my room. Back then,new music was introduced through radio stations, cool posters and sampling at music stores, and of course concerts. Browsing the aisles of music stores was how most Americans narrowed down the search, and eventually purchased tracks they wanted to hear.

You are on ultra safe ground to assume that my taste of music has changed since the days of Rock'n' Roll. Occasionally if you are near,you might hear a classic like "Dance the Night away" or "Back in Black", but it will be coming from my Ipod. About the only thing that has kept pace with the changes in music itself, is the way music is purchased. CNET reported that in August of 2009, 25% of all music sales were through Itunes. That number is growing daily and has changed forever the venue and mode of music sales. Why? Data tags and intelligence combined with algorithmic search engines give you what you want, when you are looking for it. Even better, it invents desires for artists and songs you have no knowledge of, by using data to accurately predict music you will like.

Marketeers have learned the beauty of using data intelligence, and everyone is in a rush to apply that across all media channels. Especially, the on line channel, because it collects and implements data intelligence on the fly as consumers' key strokes unveil clues of their desires. If you asked a Music company CEO ten years ago, "How will you use the web to market your business?", most would have replied, "we will get a website up to direct people to our stores." Many are left wishing they would have thought that through a little more. They relied on old school channels instead of harnessing the right one.

It is no secret that the web channel is exploding and reaps a heavy ROI for those who know how to use it. Let me throw a stat at you though: some 2/3 or American wealth is in the hands of the boomers and their elders and they are the least tech savvy group. So what does that mean? There is a different channel mix for each unique segment in the overall consumer universe. Using data Intelligence as a guide to select, apply and manage the correct marketing channel mix is critical going forward. We call that a "Which" audit, defining which channels you need to use to influence your unique profitable customer segments. Tracking shows that it takes three to seven positive messaging touches, across multiple media channels to stimulate the desired behavior. Finding the correct mix of "Which" marketing channels to use and implementing them in a consistent, systematic way is a huge part of marketing in 2010.

Changing the channels is something we all need to think through.........