• by Masha Geller , December 4, 2001

The first day of @d:tech New York, as one would expect from a show of its caliber, kicked off with a keynote presentation given by a representative from one of the web’s 800-pound gorillas – Yahoo! Gregory Coleman, Executive Vice President of North American Operations at the portal, however, had very little to offer the packed auditorium at the Javits Convention Center other than general comments on the sate of the industry. He did, however, preface his speech with admitting that he has only been with Yahoo! for seven short months.

“We’re early in the cycle of figuring, discovering and understanding the medium,” he said.

However, he went on, “the promise of the Internet remains unchanged.” Coleman cited several aspects of the medium that still apply - such as cost effectiveness, interactivity, fluidity, personalization opportunities and the possibility of establishing 1-to-1 relationships with consumers - even after the dot-com crash and the onset of the current economic slump.

“What was true in 1995 is still true today in 2001 and going into 2002,” he said.

The Internet, Coleman continued, “combines the reach of mass marketing with the targetability of direct marketing,” but now “the fog has lifted,” he said, and it’s time for serious marketers and media people to jump in and get “down and dirty to figure out this medium.”

The consumers, he said, are as demanding as ever. They want, among other things, all the content and service at no charge. “They don’t want intrusion.”

“But what they’re going to have to learn is that the party will be pretty soon,” Coleman said. “There will be no free lunch – everything comes with a price, dictated by market dynamics. They must accept some form of intrusion, just like they do with other media.”

As far as marketers are concerned, Coleman said, “if I say we’re in the doldrums, I’m probably being too kind.”

The speaker cited many things marketers want and desperately need, including consistency of messaging, leveraging online metrics and measurement tools for accountability. Specifically, he stressed online creative: “The Internet has trouble attracting talent,” and cited the fact that most online creative professionals are still “wed” to the :30 and :60 second TV spots.

Thus, Coleman urged marketers to put the best and brightest on Internet initiatives since talent and creativity are crucial; create true alliances with Internet companies; Internet must become an integral part of planning; develop long-term programs that really work, which requires investment o people, time and money.

Lastly, Coleman said that marketers must realize that branding online really does work, although he was unable to offer any real proof of this when asked to do so by an audience member at the end of the presentation.

Coleman also issued a call to the media to hire seasoned and experiences executives, particularly in the sales and marketing arena. Also, he asked the media to listen to consumer needs; and to encourage innovation and concept testing to find services that consumers are willing to pay for.