Libey on Lists—Predictions for 2006 and Beyond
And this new Internet environment will make the Web like a television, where the message will be more visual than lingual. Get ready for more video, audio and graphics, but much less text.
Trend No. 3: A GAAP standard of accounting is about to emerge for the direct marketing industry, where this type of business activity for once will be on an apples-to-apples basis across all companies. Wall Street will better be able to understand value of what direct marketing brings to an organization, and management of these firms will be able to push for specific results. The danger to watch out for is that often “interpretation becomes protocol,” so direct marketing professionals must be involved in these metrics that are established if they want their activities to be counted fairly in the business plan.
Trend No. 4: There is no such thing as “lists” anymore; today’s business environment now consists of databases. List firms must adapt to be part of this new way of looking at circulation, because within the next 10 years half of their income will be generated by managing customer research and maintaining a large variety of customer databases for clients. List firms also must be prepared for a European invasion: International data firms have invested in database technology and research processes, and will bring this knowledge to U.S. marketplace to start winning new business.
Trend No. 5: The dominance of so-called “black box” cooperative databases will decline. Too many marketers rely on these co-op databases for all of their list activity, to their detriment. While there are quite a few benefits in using either or both of the two types of co-ops—membership and list-specific—neither one provides sufficient value to be used without independent list selection and data processing activity. Libey’s main concerns about co-ops are: