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Slow Clap for the Harvard Business Review; Finally Catches up to Social Media Marketing Circa 2004

August 15, 2012 Leave a comment

I’m not one enamored of the Harvard Business Review.  The ivory tower often isn’t the best vantage point.

That’s why I’m unimpressed with the recent piece by Bill Lee, “Marketing is Dead,” published in the HBR.   The article does little to live up to the provocative title, rehashing conclusions most savvy marketers and advertisers came to nearly a decade ago (even the slowest among us arrived at them at least five years ago).

Why is marketing dead?  CEOs are frustrated and customers are ignoring traditional media – just look!:

“In a devastating 2011 study of 600 CEOs and decision makers by the London-based Fournaise Marketing Group, 73% of them said that CMOs lack business credibility and the ability to generate sufficient business growth, 72% are tired of being asked for money without explaining how it will generate increased business, and 77% have had it with all the talk about brand equity that can’t be linked to actual firm equity or any other recognized financial metric.”

So what?  The percentage of Americans that say CEOs lack credibility is at 79 percent.  Moreover, the turnover rate for CEOs is at a six-year high.  Audiences have been tuning out from the traditional mass media for over a decade. Read more…

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