CMO Insights: Mobile Advertising and the Fifth P

an interview with
Jeffrey Hayzlett CEO, The Hayzlett Group

I caught up with Jeffrey Hayzlett at The CMO Club Summit in LA and look forward to hearing him speak next week in NYC at Pivot. He is a highly engaging speak with strong and clear points-of-view.  In the interview below, Jeff discusses his next book, the growing impact of mobile advertising and adds a 5th P to the old marketing pillars: product, price, place, promotion.

DN: As 2011 winds down, are you thinking “good riddance” or “darn I’ll miss it?”
2011 was a great year for my company and me, personally. I spoke all over the world, Australia, all over the US and met some great people and great companies. Yahoo!, Microsoft, Google and MGM were just a few of my favorites. My book, “The Mirror Test” was released in paperback. And I just became celebrity editor of the largest circulation magazine in the world, “Tweeting & Business”, coming out this month. It’s been a great year. I tend never to look back, just move forward and go!

DN: Looking back at 2011, what new things did you try?
I’m always open to trying new things; I love to take risks. But I also think it’s important to continue to examine your company inside and out, drive change and make tough decisions. It’s exactly about what I wrote in “The Mirror Test”.

DN: What else happened for you in 2011?
I wrote another book this year and it will be coming out in January. It’s called Running the Gauntlet: Essential Business Lessons to Lead, Drive Change and Grow Profits. Gauntlet takes the concepts from The Mirror Test to the next level. I’m really proud of the book. We included some amazing new interactive elements as well that will make the book unique.

DN: Is the current economic uncertainty effecting your plans for 2012 and if so how?
Overall it’s not, I’m driving change and continuing forward. You have to. I have to take my company and my plans and move forward—whether I succeed or fail is up to me. I don’t look at the economy and let that stop or influence anything I want to do.

DN: Looking ahead to 2012, are there some emerging trends that you hope to capitalize upon?
Mobile advertising is growing fast than anyone–Google or Yahoo! included–predicted. As a marketer I would have a plan in place for mobile campaigns. And social media continues to evolve. Video is surpassing the written word online. I’ve tape many of my blogs as video as well.

DN: Can you boil down your Pivot presentation to one or two key insights or thought-provoking take-aways?
I’m fortunate to be on a panel with Gayle Weiswasser, the Vice President of Social Media Communications at Discovery Communications. We’ll be talking about the traditional 4Ps of marketing. But with a spin. The four P’s aren’t going away, but they have been joined by a powerful 5th P — the social element — people. Since it’s a panel, you never know which direction the conversation will go–which I love.

However, key points I usually work into any conversation about marketing and social media are: Never, ever discount the Power of One. Just one follower, whether they are an evangelist or a critic, will tell their friends and followers. Don’t ignore the critics. The recent incident with GASP in Australia is an excellent lesson on how NOT to do it. I call the ROI of social media “return on ignoring”. You can’t ignore the comments–positive or negative. Feedback from your customers is critical; in the past I’ve used that feedback to develop new features and products customers loved and bought like crazy. As marketers it’s critical we really listen and respond. That creates brand ambassadors for your company.

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