It has been a while since I have blogged. What's on my mind right now is measurement and the power of analytics. The internet has made us all more aware that everything we do can be tracked, and it is changing our expectations of the media we consume and purchase. The big secret of the internet bubble burst was not that it proved the web to be a bad advertising investment--quite the opposite--while traditional media suffered huge losses, layoffs and re-structurings, big and small brands discovered online advertising as the most measurable investment in a turbulent time. Magazines are always fat during economic prosperity, and with an enormous contraction in traditional media, the only medium that is currently growing is online.
This means that online media has an obligation to provide the analytics that help clients thrive and become active partners with their clients to face the business challenges in the market. We have heard from multiple companies this year that they are pulling back on their print spend in order to help the bottom line, and that the dollars they are spending are more focused on "measurable media". At Dentalcompare we have made a significant investment in the Omniture site analytics platform which is helping us determine exactly how dentists find their way to submitting a lead and what the key drivers are for the transaction. As we build this profile, we share it with our clients.
I've also been reading a couple of great books lately: Against the Gods: The Remarkable Story of Risk (Peter Bernstein) and Know How (Ram Charan). I highly recommend both books--specifically in these times of complex financial derivatives bringing down investment banks, it's fascinating to see how this practice evolved (Against the Gods).