As Robin mentions here, Forrester has recently reported a significant shift in how marketing is working and should be measured:
The marketing funnel is a broken metaphor that overlooks the complexity social media introduces into the buying process. As consumers’ trust in traditional media diminishes, marketers need a new approach…
Once engagement takes hold of marketing, marketing messages will become conversations, and dollars will shift from media buying to customer understanding.
Clearly, we’ve been talking about these ideas for a while but hearing them said by such an influential analyst feels a little bit like when Blur and Oasis turned up on the nine o’clock news or the first time ‘Web 2.0’ was mentioned in the FT.
Exactly what value the new ‘engagement’ scores (made up of ‘involvement’, ‘interaction’, ‘intimacy’ and ‘influence’) might have remains to be seen although it’ll start to force re-evaluation.
I’m sure too, that we’ll see some advertisers trying to drive their engagement metrics using their marketing dollars, all those powerpoint decks will have to be rewritten again!