Marketing in a Web 2.0 World, Part 1

CGT: What is the state of the industry in regards to Web 2.0?
RUGGIERO: Online video is very much in the forefront of marketing in this Web 2.0 world. The opportunity that online video provides marketers is to create an entirely new medium that blends the forensic capabilities and user control of the Web, with the power of broadcast television to leverage sight and sound to evoke emotions and tell a story. 

Online video has transformed the viewing experience from being a passive one to one that has the power to be truly interactive, enabling marketers to extend visual experiences and their brand. 

In the business of online video, we actually refer to "online video 1.0" versis "online video 2.0" user experiences as the Web and online video continue to evolve. The marketing industry is changing and the market needs are changing as well. Online video 2.0 experiences are now permission-based, engaging, relevant, measurable and actionable.  

CGT: What are the top challenges of marketing in a Web 2.0 world?
RUGGIERO: Consumers now have an infinite array of choices and a growing amount of control. For instance, they are no longer hostage to the bombardment of commercials to see the programming they're interested in on TV. Technology puts the onus on marketers to captivate and engage our consumers like never before. 

Another marketing challenge in a Web 2.0 world is the reinvention of how to advertise and sell to consumers. Simply slapping a traditional 30 second spot into an online video, for example, is not going to work.  

The Web 2.0 consumer is in the driver's seat and we need to think through the relationship of the ad with the content to increase the potential interest the consumer might have in it - today's consumers demand relevancy. The opportunity is greater effectiveness, but the challenge is making it captivating enough to hold them.

CGT: What are the new advantages to marketing in a Web 2.0 world?
RUGGIERO: The great news is that the opportunities far outweigh the challenges. With more interactive channels, marketers are able to create brand loyalty and preference by listening and responding. Companies and brands can tell their unique story and fashion it to consumers' preferences. Web 2.0 also presents opportunities around analytics to better understand the individual consumer you are trying to reach. The relationship with the consumer has become much more intimate. 

In addition, community and social aspects are hallmarks of Web 2.0. User generated video [like that in the Heinz campaign] -- made status quo by YouTube -- is now available for marketers to leverage to extend their relationships with their consumers and create that important dialogue.

Evolving online video platforms also provides the ability to incorporate all of the interactive elements that the video was designed to support, provides fast and easy methods for getting your brand out to the appropriate demographic audiences through syndication, and enables your consumers to pass along a great idea, venue or product to a friend with their endorsement.

CGT: Identify one best practice or critical element for success in leveraging alternative marketing.
RUGGIERO: Be genuine and stay true to your brand. Don't let the desire to participate get in the way of upholding your own brand promise. Consumers are smart and their decision about whether to engage with you -- or not -- is all the more precarious with the plethora of choices they have. Leverage the Web 2.0 capabilities that are now at your fingertips to take your relationship with them and your brand, to a new, more intimate level.