If you're one of the sad sacks that works (or worked ) for a company that doesn't think a web site is of any consequence...well, that's telling of your company AND you.
Commercial media is about attracting an audience and convincing advertisers you have a big one. The only remaining issues are value, orders and collecting revenue. That's been a constant for hundreds of years and the dynamic is not likely to change this century.
However, it's not gonna be 1970 forever; audiences, advertises and technologists change their minds about the particulars from time to time. So the recipe for success? Adjust methods accordingly. Season for taste. Always serve hot.
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