Week 2 Reflections

This week I was able to get through all the Required Reads and Videos, and two of the Suggested Items: "Web Video: The New, New Thing" and "Privacy and Security in the Network Age." The underlying theme in all the material was that marketers actually have a chance to make a stronger connection with a smaller, more meaningful group of consumers through the new digital marketing arenas: online communities, videos, sites and etc. These arenas are much more interactive than older channels like TV, radio or newspaper. Therefore, marketers can tailor their marketing initiatives based on a specific group they are trying to reach, draw the target audience to the new channel using targeted advertising and then gather large amounts of information about the consumer, through lots of interactive content. This new form of marketing is a win-win for both marketers and consumers. The marketers are able to adapt their content to make much stronger connections with consumers, by basing their products and advertising on the trends they gather from consumers in digital channels. The consumers are able to play a more important role in the creation of their products and advertising, by giving direct and indirect feedback. This makes them feel more valued and rewarded. Unfortunately, even though marketers are beginning to greatly increase these types of interactive digital marketing campaigns, they are not yet keeping up with the rate at which consumers are leveraging these channels. They are also not doing a great job of keeping all this information private and confidential. So much information is being tracked about consumers, due to the low cost to collect the information and the high value of the information, that even laws and other protective regulations, are having a hard time developing adequate controls over this data collection. But hopefully as marketers and regulators catch up, all parties will be able to help digital marketing reach its full potential: a marketing dynamic in which consumers willing provide information and feedback, in fun and stimulating ways that help companies create products, which better meet the needs and wants of the consumer, and reach them in new, innovative ways.