As my friend Martin says about marketing, it's all too easy to treat it as the superficial topping on a not very good dish...
Its the same with New Marketing or Web 2.0. They'll always be pressure from senior management to put on the bells and whistles of social networking, mash-ups and so on, onto your corporate website.
But if your website (and the customer service and experience wrap around activity) isn't right and does not reflect the web 2.0 "topping" it will still be the lipstick...
New Marketing—the cream on the cake—isn’t the magic bullet that going to solve all your problems. At least it can't unless the organisation (read University, College or School here) changes itself to apply the principles of New Marketing through all its processes, from top to bottom.
As usual Seth Godin puts it much more elegantly here.