VIEWPOINT: Time for a reality check

<p>This time last year, there was just so much hype surrounding </p><p>anything cyber. </p><p><BR><BR> </p><p>It went to the ridiculous extreme that when anyone mentioned the launch </p><p>of a new website there was invariably also talk of an IPO. </p><p><BR><BR> </p><p>The 'get rich quick' gleam was in everyone's eyes. </p><p><BR><BR> </p><p>This was noted at last year's Internet World Conference and Exhibition </p><p>in Hong Kong. </p><p><BR><BR> </p><p>But this year - with a number of major dotcoms scaling back their </p><p>operations in a big way both in the West and in Asia following the </p><p>bursting of the Internet bubble - there is a different story to </p><p>tell. </p><p><BR><BR> </p><p>Delegates and speakers at Internet World this time around talked about </p><p>the best business models, the best way to advertise and market their </p><p>online operations and the type of creative and strategic they should be </p><p>using. </p><p><BR><BR> </p><p>They also asked practical questions like: "How many times can I email a </p><p>group of people within a week before I start to piss them off?" and </p><p>"What constitutes a good return on investment?" </p><p><BR><BR> </p><p>Needless to say, talk of IPOs have almost completely ceased. </p><p><BR><BR> </p><p>And about time too, because IPOs detracted from the main issue of the </p><p>day: that is, running a business to serve the needs and wants of a </p><p>specific market niche or the mass market. </p><p><BR><BR> </p><p>Most of the big agencies have adopted the correct strategy for some </p><p>time: they were picky about which dotcom or Internet-related company </p><p>they would serve. </p><p><BR><BR> </p><p>And for those accounts without the support of a traditional bricks and </p><p>mortar business behind them, there were no 30, 60 or 90-day credit </p><p>terms. </p><p><BR><BR> </p><p>Ironically though, these same agencies were banging the cyber drum with </p><p>the best of them at the height of the Internet hype. </p><p><BR><BR> </p><p>At the end of the day, it has to be said - and it has been said many </p><p>times before - that the Internet is simply another medium through which </p><p>advertisers can talk to people. </p><p><BR><BR> </p><p>It is a place where people go for information, to chat, play games or </p><p>whatever. </p><p><BR><BR> </p><p>And yes, there will likely be convergence of technologies but the hype </p><p>of a year ago will have us believe that the Internet would take over the </p><p>world and usher the beginning of the end of television and print as we </p><p>know it. </p><p><BR><BR> </p><p>That might be. But right now it seems to be a long way off. </p><p><BR><BR> </p>