New conversation, new meaning to words

There are words that had changed their meaning as time pass by.
And there are words that are changing it or that are just on their way to do so.

One of this may be awareness.
In marketing and advertising, awareness is the indicator of how known is a brand, a product.
Some equation:

a) The higher the adv. budget, the higher the awareness.
b) The higher the awareness, the easier to sell a good.

The quest for awareness has been the engine of the advertising world in the last, say, 30/40 years, maybe more, and the pillar of the marketing activities.

Today, I would like to suggest a new meaning in marketing for the word awareness.


Awareness as understanding, insight, knowledge.

The new awareness related to the Web 2.0 and social media that companies must develop not through massive adv. investment but through a real comprehension of their inner strenghten and weakness, of the inner nature of their brands and products, and more and more crucial the true perception and sentiment of the common people towards you, your company, your brand.

A time consuming scanning process, someone may say.
A wise investment, I would call it.

This is, to me, the awareness that companies should look for because it’s via this awareness that they can enter in markets more and more fragmented with a discerning approach.

It's the recession , stupid.

Do you remember how Bill Clinton won the first round as president of the US? With this basic approach to the economy: it's the economy, stupid.
Now that most of the countries are facing a slow down of their economy and, perhaps, a recession, it's time for us as marketers and for the companies, to think that with a weak economy, some basics do change.
In this great post from Groundswell, Josh Bernoff hilights key factors that will influence the way companies face these tough times.

Awareness ads will lose effectiveness
But social applications are about consideration, not awareness
It's cheap

It's the recession, stupid!
Getting to know what your customers, of today or prospects are far more important in troubled times, cause they can be the provider of consideration.