Archives for posts with tag: sxswi

– Just met a brilliant user experience designer from Iowa. Very insightful and forward-thinking.

– Shared a cab with an entrepreneur developing an VRM application. I didn’t even have to sign an NDA.

– Stood in a coffee line with someone who’s working feverishly to help the Earthquake/Tsunami victims on Japan through Social Media.

And, I’ve been here for only 2 hours.

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I proposed a keynote entitled “Let’s kill advertising and start over.” The keynote will explore the journey beginning with CRM to Social CRM to my hope for the future: VRM.

In brief, VRM gives people the power to interact with brands on their terms. People will regain ownership of their personal data and decide themselves who they want to share this information with. This has many advantages for all stakeholders:

  • It gives companies a much better understanding of the market, reducing the waste of the current guessing game we call advertising
  • Data is not housed in silos, allows for more opportunities to interconnect systems
  • VRM is based on opt-in, improving trust between brands and people. Increasing likelihood they will be open to your message
  • It opens the market up for real competition
  • VRM is the perfect companion for the evolving prosumer.

Here are a few more thoughts about VRM: Let’s leapfrog from Social CRM to VRM and Edison, Insull and planning for the future of VRM.

VRM is a logical evolution of the inefficient seller-buyer relationship we’re experiencing each and every day.

Does a world ruled by VRM need advertising?

Yes. But we need a big reset.

The advertising industry is in an arms race with people right now. Gather as many data points as possible, hoping for more relevancy, and then let’s hunt down the target. Banner Blindness? Let’s add bigger ads to the mix. Declining Engagement Rate? Hide the close button, design the ad and page in a way that people have to engage. Declining metrics always lead to more disruption. To new ways to segment people. To annoy them more. That mindset has to go. And I don’t know many people who would cry if the disruption race would finally take its last lap.

That doesn’t mean advertising will disappear. VRM will help advertising to have a very profitable renaissance.

I love good advertising. And I can’t stand bad advertising. I’m pretty sure most people feel that way.

  • Good advertising gives me valuable input for my decision-making process. I would like to find out about new products through an entertaining commercial
  • And, if that commercial pays for a good network show, even better
  • Some ads (just look at fashion magazines) provide an emotional and cultural undertone, and change the way I feel about myself, the world and the product. Sure, it’s superficial. But true. Can you imagine seeing an Old Navy ad in Vogue? What would that do to your connection with the magazine?

To create demand for a product/service, we need good advertising. (And better marketing) But not top-down advertising driven by data silos. We need to develop new ways to advertise to people, incorporating co-creation and collaboration. By regarding people as partners and not targets. By showing respect to people (opt-in) and not as victims (opt-out).

The combination of VRM and an advertising reset is just plain exciting and offers benefits to everybody. More people need to join the conversation and discuss the implications of VRM for all stakeholders. And, that’s why I want to speak about VRM at SXSWi.

Interested? Please vote for the keynote here