Social media has helped put marketing back on track.
Speaking at Media Magazine’s Future of Media, Scott Howe, president/chief executive officer of Acxiom, says learning about the original components of marketing included the ‘P’s- -- promotion, product, and pricing -- have been now skewed the wrong way.
He says marketers believed only they should focus on just one area -- promotion. And Howe says that is wrong.
Social media has changed much of this. “You are using social to build a sense to community. [Early on] companies didn’t want to do social, because consumers will say they don’t like their stuff. But what it does is give marketers a chance to learn what doesn’t work. It’s a gift for companies.”