If you found yesterday’s use of NASA as an analogy for marketing over the top, then let’s try my favorite comparison, referenced many times here on Lairig Marketing – Wall Street.
Two weeks ago, the Sunday Business section of the New York Times featured an article about a relatively new trading phenomenon in the investment community, “risk off, risk on.”
In the olden days, different classes of investments reacted differently to market events. For example, if developed countries were going to shit, you would buy stocks of emerging countries and be rich. If stocks were going to shit, you would buy bonds. And so on.
But this perfect world of uncorrelated assets has become one of perfectly correlated assets. If someone in Portugal sneezes, within five minutes every exchange across the globe rolls over one percentage point. Risk off.
Likewise, if, er, when, Apple beats earnings estimates, within five minutes every asset of every type on earth goes up one point. Risk on.
Seems to me this same behavioral phenomenon has found its way into the marketing world. With one very different dimension. We are in a state of perennial “risk off.”
Every advertising or marketing trade article is about social media. Five minutes after Foursquare launched, 100 companies fell in right behind it, with a carbon copy service. There are over 200 companies providing “buzz” monitoring. Risk off.
Every marketer has asked its customers to “submit a video telling us how much you like our product.” Every blog post begins with the phrase “Five Surefire Ways to…” Every marketer’s web site is built off the exact same look-and-feel template. Risk off.
Where is the “risk on”?
Alas, there is hope. The trade publications Adweek, Brandweek, and Mediaweek – all three of which had fallen into a state of disgrace – were relaunched yesterday as simply Adweek. Editor Michael Wolff, who, to his credit, always seems a little bit “off,” has put some risk back on.
Quality content, about advertising and marketing topics you won’t find covered anywhere else. The long-time #1 AdAge, a lazy, backslapping effort that defines “risk off,” has been put on notice.