Tuesday, May 20, 2008

CMO Club May '08: Marketing: Selling goods and services are not enough. You need to create experiences.

Heidi Lorenzen, VP of Interwoven talked about the importance of moving beyond just selling goods and services. It's important to stage experiences for each one of your customers. The Web and social media has brought consumers into the experience economy. At every point you touch the customer, make sure you create an experience. That multi-touch point avenue is also known as the customer corridor.

Breaking away for the old precepts of marketing, Lorenzen suggested a new set of "four P's" for social media and Web marketing.
  • Participation
  • Personalization
  • Peer-to-peer communications
  • Predictive modeling
The first three reflect Web 2.0 behavior, said Lorenzen, and the last challenges you to see if you can repeat behavior.

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