I had the pleasure of attending the third annual Internet Summit, held in Raleigh, N.C. Two days of wall-to-wall presentations and conversation on the future of the Web, social media, mobile marketing, online video, privacy, security, you name it and someone was talking about it.
One of the keynote speakers at an eye-opening 8 AM was Chip Perry, president and CEO of AutoTrader.com. AutoTrader.com generates over $500 million in revenue each year and has an eye-popping 3.5 million new and used vehicles listed. AutoTrader.com is part of Cox Enterprises, which also owns Manheim, a client of ours. In fact, Mr. Perry was asked by Manheim to launch AutoTrader.com and was its first employee, back in the day. The company is now considered to be the world’s largest online automotive marketplace, and Mr. Perry is recognized as a pioneer in the industry.
What I found the most fascinating about Mr. Perry’s presentation was one simple point. It was quite striking, especially in light of the venue and reason we had all gathered together.
He said, “Success is more about business fundamentals and common sense than it is about the Internet.”
The point should resonate with brands, businesses, and marketers in the throes of the technology tsunami. It’s easy to get caught up in your underwear over the latest widget, gadget, etc. The basics still remain the basics. Know your customers. Respond to their needs. Use technology as a tool, not as a strategy in and of itself.
- Chris Schlegel, Principal, Chief Creative Officer