And (insert your own gasp!) we all can't stop hypothesising Google's IPO (initial public offering). Google hasn't announced anything officially, but it's the worst-kept secret on Wall Street.
I've always had an ambivalent attitude towards IPOs. I think they take the fun and innovation out of most companies that plant their stake in the ground. Aside from that, as a marketer there are two things to look out for, and the Google case is no different. Thing one: an IPO provides an immediate advertising and research and development war chest. That means Google will come away with the ability to promote itself as a brand on a similar scale as Yahoo!, MSN and AOL. Thing two: an IPO makes the new company beholden to the almighty quarterly earnings report.
That's a tough suit of clothes to live in. But, in this case, Google's IPO will be good for online marketing all over the world.
I say all over the world because I get the sense that Google understands individual territories more than most search engines and portals. The company has always opened any new offices with a cadence of market awareness, not a goal of say '20 territories for 2003'. Thanks to its nature of allowing users, and therefore advertisers, to drill down deeply into its database, it is the most localised search engine. And, with the momentum of paid search, its business model is also rock solid.
So, why would an IPO be good for internet marketers? By getting its IPO-funded war chest of marketing and branding, Google will take competition for ad budgets and consumer eyeballs to a new level. It will force MSN, AOL and Yahoo! to become more aggressive with their ad deals with agencies and clients, and it will intensify marketing to consumers.
Yahoo! has the offbeat e-commerce ploys. MSN has a human butterfly. AOL has that stupid yellow guy. What will Google have as its consumer image?
Well, Google will have the image of Wall Street pillars to deal with. That image has proved rather daunting for its competitors, and will force Google to create more products, more ways to advertise and more means for consumers to access information. Sounds like a tough one for Google. Sounds like a good day at the office for advertisers.