According to the Chicago Booth/Kellogg School Financial Trust Index (h/t WSJ’s Sudeep Reddy), only 23% of Americans trust the financial system. And 62% are either “angry” or very “angry” about the state of the economy.
Trust in the financial system hasn’t been this low and anger in the economic situation hasn’t been this high since March 2009. And March 2009 was when the S&P 500 hit that horrific low of 666.
“In an election year, this certainly indicates the importance of the economy to the political agenda,” wrote Paolo Sapienza. Sapienza co-authored the index with Professor Luigi Zingales.
Then again, March 2009 turned out to be an amazing time to buy stocks.
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Vint Cerf, one of the inventors of the Internet and now a Google evangelist, still thinks open standards will win in the end.
He just finished speaking on stage at Atmosphere, the company’s cloud computing event at its headquarters in Mountain View.
The host presented a hypothetical scenario in which a young genius discovers the replacement for the Internet. Does she publish the spec immediately or call a patent lawyer?
“Shoot the patent lawyer,” he replied.
“Bob [Kahn] and I knew we would not succeed if we tried to protect the Internet’s design.” The only way they could be sure it would get widespread adoption was by publishing the technical standards it was based on. “I still think that’s good advice.”
His point echoes Google’s stand on the patent wars happening in the mobile space, but Google plays the patent game as well for key inventions like its search algorithms.
Cerf also talked about the importance of Internet governance, moving to IPv6 as the original IPv4 addresses are used up, and explained that idea of Internet-connected devices like refrigerators and lightbulbs used to be a joke, but is now becoming real.
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Marketers who spend more than 50% of their lead generation budget on inbound marketing channels report a significantly lower cost per sales lead than those who spend 50% or more their budgets on outbound marketing channels, according to the “State of Inbound Marketing Report” [pdf] from internet marketing firm Hubspot.
Average Cost Per Lead $200 Less
The average cost per lead by inbound marketing-dominated firms in 2010 is $134. This is $198, or 60%, less than the $332 average cost per lead at outbound marketing-dominated firms. This percentage differential has remained consistent from a 61% higher average lead generation expense reported by outbound-marketing-dominated firms in 2009.
3 of 4 Major Inbound Channels Cost Less
When asked to rank each lead generation category as “below average cost,” “near average cost,” or “above average cost,” businesses consistently ranked inbound marketing channels as having lower cost than outbound channels. Only PPC (pay-per-click search) had overall cost rankings comparable to those given outbound channels.
Social media and blogs had the highest “below average cost” rankings for both 2009 and 2010 (55% as a combined category in 2009 and 63% separately in 2010).
Trade shows, with their requirements for travel and expenses, as well as space rental and booth setup/removal for companies who exhibit, had the worst cost rankings in 2009 and 2010. In 2009, 55% of companies said trade show costs were above average and only 18% said they were below average. These figures improved moderately in 2010 (48% and 22%, respectively), but still left trade shows as clearly the least cost-effective marketing channel.
Inbound Marketing Grows in Importance
Inbound marketing is continuing to grow in importance at the expense of outbound marketing, according to other findings from the State of Inbound Marketing Report.
As a percentage of the overall lead generation budget, inbound marketing expanded slightly from 2009 to 2010 (38% to 39%), while outbound marketing contracted more significantly (29% to 24%). The net effect is that the gap widened from inbound marketing, which had a 9% greater share of the overall marketing budget than outbound marketing in 2009, to a 15% greater share in 2010. Roughly one-third of the lead generation budget is considered “not classified.”
A raid on suspected militants in the West Bank was cancelled yesterday after an Israeli soldier updated his Facebook status to read “On Wednesday we clean up Qatanah, and on Thursday, god willing, we come home.” The solider has since, unsurprisingly, been relieved of combat duty for being a moron. He’ll also spend 10 days in prison for his update.
Trying to educate soldiers on the importance of not leaking classified info to Facebook, the Israel Defense Forces have started putting up new posters in bases:
In posters placed on military bases, a mock Facebook page shows the images of Iranian President Mahmoud Ahmadinejad, Syrian President Bashar Assad and Hezbollah leader Sheik Hassan Nasrallah. Below their pictures – and Facebook “friend requests” – reads the slogan: “You think that everyone is your friend?”
I really want to see one of those posters. Anyone in the IDF want to send us a picture? My email address is below. I won’t post it on Facebook, promise. [NY Times]
Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.
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