Four for 2010

Here are four predictions for 2010:

1. Social media and traditional marketing budgets will loosen up compared to 2009 with a focus on driving new revenue and customer retention. But, there will be a price – proof of performance.
2. The demand for metrics demonstrating the value of social media and traditional marketing will increase. Given the likelihood of a slow recovery in 2010, value will generally mean “new revenue and neutral or revenue growth from existing customers”. Little else will matter. Without at least some ability to connect social media and traditional marketing efforts to revenue and/or customer retention, marketers will be extremely challenged to get the funding they’re seeking.
3. Marketing will continue to take more responsibility for customer experience. Their challenge will be to manage experience without being in control of significant touch points including sales, support, finance, and delivery of goods and services to name a few. As a result, marketers will ask for and companies will need to consider changes in management structure that will reflect the need to be truly customer centric.
4. The use of video as a sales, marketing, support, training, and community building tool will increase, especially for small and medium sized companies.

What do you think?