Seth Godin, Forbes, and Funnel

Forbes Magazine recently celebrated its 90th anniversary with an issue about networks.

They think networks are an integral part of business and life - from railroads and the telegraph in 1917 (when Forbes magazine was founded) to the internet and social networks today.

They asked some leading thinkers in various fields to contribute essays. Marketing expert Seth Godin was one of them.

He stated that marketers are traditionally control freaks. They maintained control of their product's image, wrote and filmed the ads, spend the advertising dollars, and chose the medium.

The great brands and big companies were built on mass advertising. He used the analogy of a funnel - media filled the company's funnel with attention, and it slowly turned to cash.

Now, he says the funnel is broken. Mass marketing now only yields marginal results. For example, he said that American airlines might spend more than $1 million on a TV ad campaign, and attract only 100 new first class customers.

He says the tick now is to turn the funnel around, turn it into a megaphone. But, instead of shouting at your customers, give them the megaphone. Let them speak about your company.

In short, focus on service and quality. Take care of your customers, and they will spread the word, and get you more customers.