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Raymond James Financial, Inc. Message Board

  • IU_Basketball IU_Basketball Jun 19, 1999 9:16 PM Flag

    Online-Offline Synergy

    SAN FRANCISCO -- Well-established companies that
    learned early how to take advantage of the Internet are
    capitalizing on it now, according to Web-marketing guru
    Michael Tchong.

    FedEx and UPS, for example, have
    posted record earnings because of e-commerce, said
    Tchong at his inaugural Inconocast Web Attack
    online-marketing conference Thursday.

    The conference
    proved to be a metaphor for the Web itself --
    fast-moving, chaotic, and entertaining. It opened with
    basketball star Dennis Rodman roaring in on a motorcycle, in
    a display of star power. However, as the smoke
    cleared, Tchong got down to business.

    The Internet
    has led to the biggest, most sustained explosion in
    stock market history, he said. It took the Dow Jones
    industrial 14 years to grow from 1,000 to 2,000, but only
    seven more to hit 3,800. This year, only five years
    after that, it hit 11,000.

    "It used to be you
    could live 18 years on a business model," Tchong said.
    "The Internet has made it 18 weeks, headed toward 18
    days. In the future, you can get up at six, write your
    business plan, get funded over lunch, be a success by
    dinner, and be out of business by the time you go to
    sleep."

    Anyone who can deal with time
    compression, ramped up marketing, and other new realities can
    be a success, he said.

    Newsweek managed to
    jump on the Internet trend early, said Michael Rogers,
    editor and general manager for the online division of
    the news magazine Newsweek. The magazine established
    a bureau in Silicon Valley in 1995. It also
    established on online presence, first on AOL and later on the
    Web.

    The result, he said, is that Newsweek's
    readership has found it is already an established online
    brand as they come onto the Web. A recent study found
    almost identical levels of Internet use between the
    magazine's online and offline readers.

    Online
    entities such as Discover Brokerage, OutPost.com, and
    others are breaking into the public consciousness with
    clever TV ads in 1999, according to Tchong.

    Mary
    Murphy, senior vice president of marketing at Wired
    Digital, described how her company jumped-started the
    HotBot search engine with a television campaign. Between
    October and January, she said, they managed to grow
    consumer awareness from 57 percent from 37 percent and
    usage to 18 percent from 5 percent.

    Online
    branding can be so quickly improved, and that should be
    encouraging to any current also-ran hoping to do business
    online, Murphy said. "The branding window is wide open,"
    Murphy said. "There isn't a lot of brand loyalty
    online."http://www.techweb.com/news/story/TWB19990618S0032

 
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