Are we prepared for the ‘Technology’ in Information Technology?

“According to one recent report, in the next decade American colleges will mint 40,000 graduates with a bachelor's degree in computer science, though the U.S. economy is slated to create 120,000 computing jobs that require such degrees. You don't have to be a math major to do the math: That's three times as many jobs as we have people qualified to fill them.” – Kirk McDonald (Read more)

Okay, this is pretty bleak news. After reading the opinion piece by Mr. McDonald, the president of an ad tech company in Manhattan, I’m questioning how far I can get with my Fine Arts degree. Thank goodness I’ve ventured into the field of Marketing …but according to McDonald, it won’t have saved me completely either:

“Even if your dream job is in marketing or sales or another department seemingly unrelated to programming, I'm not going to hire you unless you can at least understand the basic way my company works. And I'm not alone.”



Although his open letter is quite specific to the situation in America, it’s hard not to be concerned as a recent graduate – and now post graduate student – in our current global economic situation. Mcdonald talks about the necessity to be able to understand simple programming in order to function in a modern day company. Perhaps it’s too much to ask for, and extremely hard to deliver, especially when many universities do not see the need in creating dynamic programmes that create well-rounded graduates.

But Mr. McDonald, I implore you to have more faith in us. Have faith in us like I have faith. While technology is constantly made redundant and updated, our passion will never whither. And it is this passion that will get us through.

To say that you would hire someone with skills in programming over someone with passion could be one of the biggest mistakes you can make. I believe you neglect the fact that it is also the role of the company to support and encourage your employees to grow, learn and develop. I am sure, Mr. McDonald, that being the successful businessman you are, you already understand this. But you must not lose faith in us.

So while I suggest all recent graduates, graduates-to-be, and just anyone looking for a job to read Mr. McDonalds open letter (because I feel it’s important we understand where employers are coming from), I suggest you read it with an open mind, and have faith in yourself.

I may be an optimist, but I’m sure the future is not as bleak as it appears.

Hongi Luo
Current student in the Master of Marketing program at the University of Sydney Business School

Are you ready to pay extra to protect your personal data?

European Union is already taking action to protect the personal data of their citizens. A proposed new data collection reform directly refers to the way companies are able to collect and use consumers’ personal information. With these protection rules to be elected by June this year, this new policy has become a highly controversial topic.

EU officials believe that it could protect the people’s privacy, so neither IT companies nor digital marketers are able to make personal data available for commercial use, or create user profiles without prior permission. According to the new rules, users should also be given the right to be forgotten when they request it.

However, the question is whether too much government regulation could deter potential benefits for consumers and the economy. In terms of marketing, it could mean a big step back to traditional TV and outdoor advertising, since there would be significant limitation in targeted ads and direct marketing. Without user clear-cut agreements, companies wouldn’t be able to generate consumer personal data, so it could make direct marketing less effective, as well as very difficult to manage.

Some more radical opponents to the policy said that the EU's data protection reforms are a way towards "user-paid internet." They argue that if web giants such Facebook or Google couldn’t gather the personal data of users for advertising needs, the services would have to look elsewhere for funding. Users will have to pay for services, or service remains free - but we will be exposed of hundreds of adverts because personal data was not used to create targeted ads. This is why those whom the EU thinks they are protecting, are in fact not really satisfied with such initiatives.

Yes, it’s true: I don’t want somebody to take my personal details without a clear understanding of how, and whom, this data will be used. Just one glance at my junk email inbox, there are companies from somewhere in Latin America that knows I like mounting ski more than snowboarding. How did this completely unfamiliar company get my personal details? And in this case, I would definitely like to be protected from such annoying interference in my private life. But honestly, I am still not sure whether I want to pay to be protected.

Elena Sveshnikova
Current student in the Master of Marketing program at the University of Sydney Business School

The Long Hard Road of Social Media

There has been plenty of hype surrounding the potential of social media as a low-cost, high-impact promotional tool for business.

Much of the social media hype has been fuelled by the various success stories, in particular the YouTube sensations that have generated millions of views from relatively low-cost production videos. A few of the classic examples in recent years include Blendtec, Old Spice, Tippex and the Dollar Shave Club.


Blendtec is a premier example as it has managed to make everyday food blenders look cool and exciting. From their collection of videos, where they blend a range of bizarre items such as iPads, super glue and golf balls, they have reached a broad audience and have now surpassed 220 million views. But what is particularly effective about their videos is that they have generated such interest by simply demonstrating their blenders in action.

 

Another great success is the Old Spice campaign from 2010, which helped repositioned the brand to being a younger, more modern brand, and was able to generate around 1.4 billion total impressions in just six months through the combination of YouTube, Facebook, Twitter and mainstream media.

So it’s no wonder that businesses are now increasingly looking at social media to dramatically grow their brand awareness, substantially leverage word-of-mouth and deliver significant increases in sales.

But unfortunately it’s not as easy and effective as the hype suggests. And as time goes on, it is becoming more apparent that social media is not a magic pathway to building a strong brand and growing the bottom-line. Indeed, for many organisations, social media is now proving to be a long, hard and expensive road paved with many pitfalls.

One significant pitfall is brand integrity. To generate social media interest, the campaign needs to be innovative, funny, controversial and/or grossly entertaining. That is often hard to do within the confines of a well-crafted brand image.

As an example, a couple of years back, Perth-based pie manufacturer Mrs Mac’s had a very successful online campaign in Australia that utilized numerous social media platforms. Their YouTube video from this campaign now exceeds 2 million views. However, I would suggest that the campaign was not overly consistent with the traditional image of their brand. 

Therefore, in their next online campaign, which was in aid of a new product launch, they took a more conservative approach in line with their traditional positioning. The end result was only a couple of thousand YouTube views in total and little interest in the new product as a result.

The growing cost and effort of social media, coupled with a long payback period, is also becoming more apparent. A good case study for this point is Westpac Bank. Westpac have had a social media team in place for a few years now, with the main goal of trying to leverage their 10 million or so account holders.

So how successful have they been in leveraging and engaging their customer base? Well, as at May 2013, they had less than 15,000 Twitter followers, just over 50,000 Facebook likes and only about 370,000 total YouTube views. Clearly, at this stage, I would guess that their social media investment has a negative ROI and is likely to have a long payback period.

Therefore, it appears that social media is becoming a long, hard grind without much of the magic that we’ve been led to believe. And for every success story, there are probably 100’s or maybe 1000’s of campaigns that went nowhere. While, I am still positive about the long-term value of social media for many firms, I would strongly counsel against the extent of optimism and high expectations that normally accompany social media activities.

Geoff Fripp
Lecturer – Masters of Marketing at the University of Sydney Business School

The end of one journey and the beginning of the rest of our lives

As I sat in the Great Hall of the University of Sydney on graduation day waiting patiently for my name to be called so that I could collect the degree that I had earned with its fair share of sacrifices along the way, I thought of what Graduation from the Master of Marketing Program at the University of Sydney meant to me. My immediate thoughts were: an upgrade in my LinkedIn profile, a few pictures on Facebook, and something new to frame and hang on the wall.

Past the short term posts on social media, what this degree has really offered me is a change in direction. A second chance. The opportunity to start a career better suited to who I have become beyond the Bachelor degree that I obtained about a decade ago.

When I started the program over a year ago I wasn’t entirely sure that I had made the right decision to continue my education. The idea of not working full time (although a number of my classmates continued their full time employment while doing the program) and getting back into assignment writing and presentations was quite daunting. Now that I’ve graduated, I can honestly say that doing this degree was the best thing that I have done.

I have drawn as much from the lecturers and industry specialists that have presented in class as I have from interacting with fellow classmates from a wide variety of professional backgrounds. Hands-on exercises and engaging lectures always made me look forward to attending class.

And as the 2013 graduating class gathered outside the Great Hall after the ceremony to congratulate each other, we took a moment to savor our accomplishments by tossing our hats in the air. Then we all rushed back to work to begin the rest of our lives.

Have you considered applying to the Master of Marketing program at the University of Sydney?

Mina D’Souza
Current student in the Master of Marketing program at the University of Sydney Business School

Nike, Adidas, New Balance and PUMA Team Up for Boston

It’s hard not to feeling something when Boston is brought up. Amid tragedy, it’s undisputable that a sense of humanity is brought out in all of us.

This is so clearly shown with sportswear rivals New Balance, Nike, PUMA and Adidas coming together to deliver a simple message of solidarity. Their latest print ad has a simple message: “Today we are in the same team.”

It’s hard to be critical of this ad. When we are constantly being sold to, this simple message reminds us that at the end of the day, the companies out there are not only servicing us, but they are one of us. Sure, you can pick out all the financial motivations behind an action like this, but sometimes we just need to savor these moments of sentiment.

In terms of a lesson in marketing, perhaps the most important thing I take away is that fact that there are certain truths that apply to all of us. Sure, this advertisement is only a small gesture, but these gestures mean so much, because it accesses an aspect of humanity that lives in us all. It’s not really a matter of a common good, but an innate ability to care.

As a student in marketing, there are so many things we are learning, especially in terms of how to engage with people. We are constantly asking questions, looking outward, doing experiments and researching. We are so busy; we forget to look internally at ourselves. We cannot forget that we are also a part of the system.

So when I saw the collaborative ad, I thought it was great. Then I asked myself a simple question of “why?” I have concluded that it is because this ad has the ability to bring out the care in all of us, and this communal sense of care brings comfort in times of hardship. For four rival shoes companies to be able to do that with a simple message should show that we don’t need cheap tricks to engage with people. We should look deeper and have more faith in our audience and their ability to care.

I know this theory probably isn’t appropriate for every situation, but it’s something I feel is important, and that we shouldn’t forget. We should care.

Hongi Luo
Current student in the Master of Marketing program at the University of Sydney Business School

Saturated by new ‘News’

So these last couple of weeks has seen an immense amount of information passed around on the Internet regarding Daft Punk. I’m sure you’ve already heard/read/seen/watched the fake fan made version of Daft Punk’s new song, Get Lucky. If you haven’t already, it’s incredible – listen to it here.

If you don’t know who they are (a French electronic music duo), that’s fine too, just follow along and I’ll get to my point soon.


So the abbreviated timeline goes something like this:

• Daft Punk announces new Album: crowd goes wild. 
• Speculation and fake ‘leaked’ albums pop up all over the Internet. 
• Hype fades ever so slightly 
• Daft Punk releases online series, The Collaborators, featuring videos of all the super famous musicians who have also worked on their album.
• Daft Punk announces that they will be releasing their new album in rural Wee Waa, NSW at an agricultural show. • Everyone is a bit puzzled…but hype skyrockets.
• A teaser of Get Lucky is played during Coachella festival. The Internet almost breaks when this news was released.
• THEN, Hedi Silmane, fashion designer, photographs Daft Punk for his new campaign for Saint Laurent (previously Yves Saint Laurent.)

And now, after officially releasing Get Lucky, Daft Punk has broken the Spotify record in the US and UK for the biggest streaming day for a single track. I am sure they are not done surprising us with all their other hype-building tactics hidden up their sleeves just yet, but I’m beginning to worry this hype is going to break the internet for good. I know that sounds silly, but you get what I mean.

Google Trends Data for searches containing "Daft Punk"

Since the news of a new album in February, searches in Daft Punk grew pretty healthily. After March, ‘Daft Punk’ has been trending so much; it looks like it’s going to fall off the graph.

I know I probably sound like a crazy person, but it’s getting hard to keep up, and this ‘news’ is becoming a little old, pretty fast. Despite the obvious benefits of building all this exposure, there is the potential for the general public to get sick of it all, before the album is even released. When they are swamped repetitive information, there is a likelihood they may become desensitized to it.

However, on the other side of the argument is that when information is regurgitated so quickly in our hyper-connected age, could this tactic be a way of sustaining the audience’s attention? Repetition can really drill information into heads. When each day, we are bombarded with thousands upon thousands of snippets of information, perhaps this strategy of more is more could work?

I can’t decide where I sit between the two. I guess it all comes down to the circumstances, and to employ a strategy that is appropriate for what you are trying to advertise for. For Daft Punk, I think it’s getting hard to remember that while every other day more ‘news’ appears on the internet– this ‘news’ is actually just strategic, planned, and well executed advertising. Perhaps the very fact that I’ve forgotten I’m being advertised to means they’ve done a pretty good job.

Hongi Luo
Current student in the Master of Marketing program at the University of Sydney Business School

Does the size of you connections on LinkedIn really matter?

A common joke nowadays is that the difference between networking and not working is just one letter.

I used to be relatively sceptical about the importance of LinkedIn for my career improvement until I moved to Sydney from Moscow about a year ago. In Russia LinkedIn is still not considered a useful tool for job seekers, as potential Russian employers would be more satisfied having a conversation with former employers rather than rely on information from the Internet.

In Australia, I see a ‘LinkedIn-mania’ among professionals. Everyone here talks about LinkedIn, thinks about LinkedIn and looks at your LinkedIn profile as soon as you get to know each other. Having just glanced at my LinkedIn page, a friend of mine immediately responded - you have no chance of using LinkedIn successfully unless you contact list is much longer (I have 82 connections). This makes me think: “What is LinkedIn really all about, and how does it work for professionals?”

Honestly I like LinkedIn since it enables me to keep track of my professional contacts in the cloud. However, I receive a lot of invitations and often cannot even figure out what the motivation for connecting is. The majority of these invitations appear to be meaningless and probably will never be converted into useful business opportunities. There is no doubt that LinkedIn makes business communication easier, but it could also make our network useless if the connections that we have are merely strangers. Does a sizable network provide the wrong impression: that quantity is equally important as quality. But let us look at our connection list from a practical angle: can we communicate with each of our connections in a business environment?

To what extent are these connections personal and thus to what extent they are valuable? In this case, the invitation process is a crucial step in gaining a connection. Even more, there should be an ethical standard where by when sending an invitation to a person, that you clearly state how you met or the purpose of why it would be valuable to connect. If this were the case, many people similar to me would be better off accepting invitations to connect rather than not even opening them at all.

However, I try to keep my connections down to those who I really know and I am comfortable with. I also frequently monitor my connection list and disconnect from those people I cannot recall.

This is why I am distrustful of those who get “over 500” connections. Have they just sent invitations to all their mail accounts (there is an easy tool in LinkedIn to assist with that)? Does this number of connections really mean business?

I have no doubt that the honest answer would be “no”.

Elena Sveshnikova
Current student in the Master of Marketing program at the University of Sydney Business School