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Then along came internet. Being involved in advertising in mid 90's, it was obvious to me that potential was absolutely enormous. Mind boggling. It was difficult to demonstrate, though, as speeds were painfully slow. You'd try to show someone over a cup of coffee or tea, and you'd finish drink while second page was loading. Try coming back in 5 years. Well, they did. With a vengeance.
The internet itself came on in leaps and bounds after that. Technically it developed rapidly. Companies started to realise they "had" to have an internet presence. Why? Well, often because their competitor did, or because they thought they should before their competitor did. They were diving in, pretty much blind; they did not understand what they were getting into. The stock markets cottoned on that something big was in offing, so .com shares were being touted to ever higher levels. Shares of companies with no substance in most cases.
I used to trade shares on a daily basis in those days, and I never touched one internet related company. I cringed every time I saw financial figures of a listed .com. Prices of shares were often in stratosphere while turnover was meagre and profits non existent, then and into future. The traders in London Stock Exchange and Wall Street did not understand. The internet was new, there was no history to go on. They simply did not understand. They were excited, and were exciting others too. The buying was frantic. The crash inevitable.
Companies all over world were realising, though, that they must have a web presence. Companies had marketing departments and/or advertising agencies. So they too had to go along with the tidal wave of internet anticipation. What did they do? They followed accepted patterns for marketing in those days. TV advertising. Radio advertising. Big newspaper ads. The massive costs of those methods bore no relationship then to potential for additional income, for sales. They were throwing money down drain in most cases. Why? They simply did not understand!
The internet was, and is, a revolution in communications. But marketing industry had not had a revolution, it was too bogged down in rest of marketing mix to realise what was really going on here. The printing press was a revolution in communications, but it took many years to spread its influence. Radio was a revolution in communications; likewise. TV? Likewise.
The internet has been more like an explosion, and after an explosion it takes time for dust to settle. That's one of reasons for maze of internet marketing. The dust is still settling. You can't see through dust yet. More of a haze than a maze I suppose! No, a maze in a haze!
Roy Thomsitt is owner and author of http://www.change-direction.com