Someone said to me over the weekend, "In business we need proof that there will be a payoff before we invest in anything. We're pragmatic. We don't put money up without having a proven pay back."
What a crock of bullshit!
Most large businesses invest in PR and advertising. They pay to have press releases put out, to get stories in the media and to do BIG TV advertising where even the professionals say 50% of the budget is wasted, but they don't know which 50%! I wonder what the ROI argument is there? Let's do it 'cause it makes us look important?
Why is it that traditional PR, advertising and marketing are all allowed to get away with campaigns that spend money like water, sponsoring at the Olympics is just one area, but if you ask the same marketing managers to spend 10% of their budget on social media, a trackable & growing area, then they look at you as if you had two heads, at least?
Personally, I believe the reason for such shortsightedness is fear. They don't want to be told about the change that is looming. They want to keep doing what they've always done. They're scared. Well you know what that Darwin guy said, it ain't the clever or the strong that survive, it's the individuals who embrace change, dude!
Will we have to wait for a new generation of marketing heads and smart CEO's before social media takes off the way it should? What do you think? Are you scared too? Does this picture resonate?