Monday, November 24, 2008

Social Networks & Advertisement

I recently attended the Internet Summit in Chapel Hill, NC - see details here. Social networks and advertisement / marketing in Web 2.0 world were the main topics of the panels.

Having had the excellent opportunity to lead technology development on the world's first and leading word of mouth / viral marketing brands PG-Tremor and PG-Vocalpoint: I found myself grasping (during the panel on "Marketing in a 2.0 World") at anything that spoke of web marketing delivering anything beyond amplification in their discussion. And so, I asked if the panel could give tangible example, just one, of advocacy i.e. purchase intent converted and realized, from their social network(s) focused program or campaign.

I am sorry to report the excellent panel representing Vitrue, Lenovo, Microsoft and Digitalsmiths had to submit that they mostly have examples of increased awareness.

As such, please see superb insights from my friend and colleague Mr. Ted McConnell, P&G's Leader of Interactive Marketing and Innovation here. To social network sites that leverage media for ads, Ted stated:

""I have a reaction to that as a consumer advocate and an advertiser," he said. "What in heaven's name made you think you could monetize the real estate in which somebody is breaking up with their girlfriend?""

On consumer engaged media generation, Ted stated:

""I think when we call it 'consumer-generated media,' we're being predatory," he said. "Who said this is media? Media is something you can buy and sell [...] We hijack their own conversations, their own thoughts and feelings, and try to monetize it.""

I believe Ted represents leading thought and execution on interactive (media) and advertisement leveraging leading technologies - as such his personal preferences may be something to pay heed to:

"I really don't want to buy any more banner ads on Facebook."

Finally, I am happy to hear Ted predict and see the following in the market place:

""'Spray and pray' is a little harder to do when you're under economic pressure," he said. "So performance-based advertising will gain share over CPM.""

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