Tags: online advertising, social advertising, social media
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Here is a nugget from the story. “Once brands embrace social media, agencies also have to change some of their fundamental processes when it comes to creating and distributing content, said Kelly Mooney, president and chief experience officer of Resource Interactive. For example, in social media there isn’t just one big idea. As evident in the H&R Block case study, sometimes social media is about stacking up many small ideas to create a big total impact.”
Over the past few months I’ve been consulting and researching social media strategies and tactics with large companies. It is true that agencies are challenged in delivering on the social media plans.
Tags: online advertising, social media, social networks
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Rob Hof has a post about online advertising showing signs of weakness. I would generally agree with Rob, but would say it’s growing in another direction.
I’ve seen this movie before in 1998. The ad business is changing again. Back in 1998 the rage was impressions impressions impressions..it’s was all about banner ads. Then it became clear impressions and paying for traffic wasn’t working for advertisers – enter performance advertising – the paid keyword.
Today we are in a similar dynamic. Sure the ad market is showing weakness but it’s not because it isn’t effective. It’s because the CPM don’t get the job done for advertisers and publishers. New products will be coming…
I’ve been saying on this blog and other places that CPM will be one small feature of the future online advertising market. The future is about the social graph..the next Google will emerge from the new dynamics and relevance coming out of the social graph infrastructure (yes that would include data).
Microcontent is the big trend that will be the preferred ad unit in the future. As I have been saying for years – In Social Networks – The Content is the Ad.
Social Media Test: Find the Holy Grail – Advertising 2.0 – Attention Social Media Marketers – watch this May 8, 2008Posted by John in social media.
Tags: Advertising 2.0, online advertising, video ads
Social Media Test: Find the Holy Grail. It’s hidden in this video.
For all the social media marketers out there you need watch this video. Why because of all the noise out there in social media this video panel discussion is the most relevevant information for you.
The future of marketing will be impacted by widgets – this is what the Slide CEO Max Levchin didn’t want to say in front of all the people at Web 2.0 conference. This is where the holy grail is.. Sparing me of writing what the holy grail is ..I’ll just post the video and see if you can fish it out..
It’s a kind of social media test…
Hooman Radfar, CEO & Co-founder, Clearspring Technologies
Kevin Freedman, Vice President, Finance & Operations, Slide
Eric Alterman, Chairman, KickApps
Dan Riess, Vice President, Marketing and Ad Solutions, Turner Broadcasting System
Sun Jen Yung, Managing Director, Investment Banking, Oppenheimer & Co., Moderator
Web 2.0 Expo Blogging and Twittering – New formula for social media marketing and advertising: Social Networks + Social Media = Social Commerce April 22, 2008Posted by John in social media.
Tags: online advertising, social graph, social media, social networking business models, web 2.0 expo
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I’m at Web 2.0 Expo blogging and twittering the event. A great event that is trying to encapsulate the web 2.0 world for business people. One of the problems with Web 2.0 Expo so far is that it’s to geared to developers. In fact most attendees are normal business people who are trying to harness web 2.0 for their business.
Tomorrow should be a great day when the event kicks off. I’m here talking to potential companies for my new startup.
If anyone from corporations, media companies, or ad agenciesis interested in social media marketing and/or social media advertising I am available to chat. I am currently in private beta for my new social media ad product.
New formula for social media marketing and advertising: Social Networks + Social Media = Social Commerce
Social Media Release – Needs To Be Social April 11, 2008Posted by John in social media.
Tags: online advertising, pr, PR vision, socia media release, social media
I’ve been following the Social Media Release story on Techmeme (the home of social media releases via blogs). This is my area and I have a big opinion. For the past 4 years I’ve been at the center of social media, social networks, social graphs,,bla bla bla. Social Media is the real deal. Here are some of my opinions that I’ve posted here before. Social Everything. Social Media New Standard for Online Advertising. Vertical Media New Online Advertising Model. Are Ad Agencies Dying?
Matthew Ingram breaks this down for the average Joe and Mary – put freakin links in your releases. Thanks Matthew.
Seriously Mr. Ingram is right on, and I’ll go on to say that SMNR are a good thing . Press releases have to change and are changing. Companies like Cisco and Intel are doing it right. Other leaders are moving in the social media direction as well.
Two big problems with the above examples: 1) It’s just not about PR any more it’s about message distribution and rich media – hello integrated marketing and advertising groups – It’s not just PR anymore; 2) most of the examples mentioned above particularly Cisco are flawed in that their media isn’t social. Putting links in a release doesn’t make it social. Cisco is putting in links but the content is all about their walled garden site – that ain’t social that’s ‘jail’.
My Take: PR is now an integrated process that has it’s own value chain. It’s not about throwing a release out over the wall and it’s over. It’s a recursive process that requires resources both people and machines. This is where Tom Foremski is so brilliant. He has always talked about machine media working in tandem with people – thats social and that’s social media.
My advice: produce media in the Social Media Release and make it social. Sometimes that will require resources (people and money). This has been the biggest issue for PR departments – they are underfunded for this activity yet it is becoming a critical success factor for their business. The lines between PR and online advertising is bluring.
The Social Media Integrated PR Value Chain
Thanks to Tom Foremski for starting this conversation. Here is a picture of me Tom and one of the fathers of blogging Doc Searls. Social Media Releases are the future of PR – now they just need to be social.
YouTube Metrics – Where is the Sharing Embed Metric March 27, 2008Posted by John in social media.
Tags: engagement metric, online advertising, social media, viral sharing, youtube
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Over the past 7 months I have been developing a engagement algorithm and metric for social media (mainly video). The key component is the embed data on the shared widget. Today, Youtube announced analytics but where’s the beef on the embed data from their player.
Social media online advertising needs new standards and metrics, but YouTube’s Insight offering doesn’t deliver the value for advertisers – YouTube delivers ‘vanilla server side’ metrics. Come on YouTube get the embed data from the viral sharing.
Developing and engagement algorithm is critical for understanding the effectiveness of content and advertising (or content advertising) in social networks. Is YouTube missing the boat? Most likely this is their gen 1 product and look to see viral sharing data from YouTube. It’s a must have.
What is the engagement algorithm? More on that later.,
Tags: adage, alternative media, engagement, microcontent, online advertising, social advertising, social media, video advertising
This blog is about the cutting edge of technology and social media. It is often overlooked by the social media experts who are just now approaching the cutting edge. I’ve seen that the best social media consultants just don’t understand what social media is? To fully understand social media you have to look at the trends within Internet Infrastructure side of web 2.0 – collaborative filtering, software search tools, viral sharing, measurement. Most social media experts come from a PR background – not that there is anything wrong with that. I have yet to meet a PR person who can really nail the value of social media.
Forget all about that infrastructure stuff for now – just look at the numbers. Alternative media is growing fast. source:adage
Alternative media or emerging media or social media is fast becoming the standard in online advertising. Why? Because Web2.0 is about connected relationships with channels of abundant content that is fully measurable.
What the web page was to web1.0 social media is to web2.0.
The numbers are behind it. Below are the highlights from AdAge.
Spending on alternative media hit $73.43 billion in 2007, a 22% increase over the previous year, and will continue to grow, according to PQ Media’s Alternative Media Forecast: 2008-2012, released today. The research firm tracked 18 digital and nontraditional segments, with a combined 16.1% of total advertising and marketing dollars in 2007, up from 7.9% in 2002, yielding a compound annual growth rate of 21.7%.
The forecast predicts a 20.2% increase over the next year, to a total of $88.24 billion, and a compounded annual growth rate of 17% for 2007-2012, reaching $160.82 billion. By then, alternative media will represent 26.6% of all advertising and marketing dollars.
The upswing is as much a result of the effectiveness of new media in a fragmented market as it is from a lack of confidence in traditional media, said PQ Media President Patrick Quinn. “Traditional ad budgets have been going down, but spending has remained stable. This shows where the money is going,” Mr. Quinn said.
Alternative advertising, including online, mobile, entertainment and digital out-of-home advertising, saw spending rise at a compounded annual growth rate 25.8% to $39.22 billion in 2007, accounting for 17.7% of all ad spending that year (compared with 7% of all ad spending in 2002), and grew at a compounded annual growth rate of 26.2% from 2002 to 2007.
Online and mobile advertising spending –including search and lead generation, online classifieds and displays, e-media, online video and rich media, internet yellow pages, consumer-generated ads, and mobile advertising — reached $29.94 billion in 2007 (up 29.1% compared with 2006), a compounded annual growth rate of 31.4% over the 2002-2007 period. The category received heavy infusions from brand marketers trying to reach key demographics that have migrated online and to wireless thanks to wider broadband adoption.
Entertainment and digital out-of-home advertising — including local pay TV, digital out-of-home media, video on demand, interactive TV, and digital video recorder, video game, home video and satellite radio advertising — increased at a compounded annual growth rate of 15% from 2002-2007, and rose 16.2% over the previous year to $9.28 billion in 2007. The growth was driven by rising adoption of entertainment technologies, including ad insertion technologies and ad platforms to reach young audiences.
Alternative marketing — including branded entertainment and interactive marketing — hit $34.21 billion in 2007, a 17.9% rise over the previous year, and grew at a compounded annual growth rate of 17.5% from 2002-2007. This brings its share of total marketing expenditures up to 14.5% in 2007, compared with 8.7% of total spending in 2002.
Branded-entertainment marketing — including event sponsorship and marketing, paid product placement, advergaming and webisodes — also saw and increase of 14.7% to $22.30 billion last year, and climbed at a slower compounded annual growth rate of 13.4% from 2002-2007.
The deployment of new-media strategies focusing on better interactivity, entertainment and engagement than traditional media was the driving factor.
Thanks to strong gains in segments that reach affluent and influential consumers, interactive marketing — including e-direct marketing, word-of-mouth marketing, and e-custom publishing — saw big increases in 2007 of 24.4%, reaching $11.9 billion, compared with the previous year, and a compounded annual growth rate of 28.6% over the 2002-07 period.
Say hello to social media and the upcoming engagement metric.
Tags: blogging, online advertising, social media, techcrunch
I enjoyed Mike’s post. I’ve been at the ground floor of blogging from the beginning but from a podcasters standpoint -which is technically blogging. In fact was there when Techcrunch was formed and hung out with Mike for almost the first year. He’s right that back then blogging was a community. Now its a cage match.
When I founded PodTech I promoted the idea of a relationship ‘rolloup’ with with bloggers with producing video and not blogging. Even though we had one of the best bloggers on staff. My biggest mistake was that bloggers view everyone as competition and don’t like to partner including PodTech who explicitly stayed out of the text blogging. I even brought scoops to Mike very early on in the Techcrunch days, but a relationship never happened. We did a lot for others by developing social media models with video with blue chip advertisers willing to work with bloggers – case in point BlogHaus. Bloggers want an incentive with relationships that fund their business – links don’t do it anymore – links are not the scarce resource anymore.
On Mike’s massive rollup idea. I don’t think that a massive rollup will work. Instead blogger and blog networks better get used to the competition because the barriers to entry are low and there is money out there. I see that the market will shake things out and platforms like Techcrunch, b5, paidcontent will build their own affiliate networks. As a result you will vertical markets with economic benefits to those affiliate content networks that do a good job of targeting and serving their users.
Why do I say this? Because traditional agencies are dying. My new venture will hopefull be an asset to bloggers and blog networks because blogs have more value then is being realized by the current crop of ad networks.
The best blog networks that will be successful are the ones who develop create content, serve a distinct audience, develop profession business practices, build relationships rather than burn them, and act with integrity.
The market will weed out blog networks that have no credibility, no integrity, and poor business practices.
Are Ad Agencies Dying? March 18, 2008Posted by John in social media.
Tags: auto advertising spend, GM, online advertising, social media, social networks, web 2.0
It is clear that social media or new online advertising isn’t easy for traditional agencies. Recently an adage article came out and basically said the same thing.. What is the effectiveness of online advertising?
It is clear that advertisers are more in control and the role of the agency is become less relevant in social media. The new web 2.0 trend is presenting opportunities for new web services platforms to be agencies that replace the middleman agency.
Here is my equation for successful marketing or advertising in today’s web 2.0:
Advertising 2.0 = (Social Media + Social Networks) + Social Commerce
I’ve been involved in successful social media campaigns and one consistent observation is that content is very important to influence social networks which in turn creates a ‘conversion’ or social commerce dynamic.
Twitter conversations are suggesting that agencies will still be around. Maybe a better title for this post would be: Traditional Ad Agencies are Dying – Make Room for the New Modern Agency.
For example GM, Intel, Microsoft, and leading bellweathers in advertising are all doubling down every year online advertising at the expense of other areas like TV and print. If you believe that TV, print, radio, newspapers are declining then the firms servicing them will disappear.
Here is a graph in today’s adage that shows the spend trends in the automotive sector.
Social Everything: Interaction and Integration – The Future of Social Networks and Media March 7, 2008Posted by John in social media.
Tags: Charline Li, entrepreneurs, facebook, iphone, online advertising, social advertising, social graph, social networks, startups
For the past three years I’ve been working with over 40 corporate advertisers in developing, testing, deploying, and measuring social media. I’ve discovered many things and learning more everyday. As I am documenting my findings I have to highlight Charline Li’s post from yesterday.
Charlene Li has a great post on her views of Social Graphs and business models. It’s about “Social Everything”.
The big trend in Charlene’s post is that social individuals, groups, networks, graphs are great, but they still don’t connect to real world value. This linchpin to real world benefits is where I have the vision for social everything – it’s about collaboration. Virtual activity is highly productive, but seems to dead end when translating and scaling to real world offline benefits.
If you have been one of the 10k people following my blog you know where I stand and have a sense of what I’m working on for my next venture- Social Advertising, Social Media, Social Graph, Social Everything. Charlene’s post reasonated with alot of my findings and the direction that I’m heading. Here are some nice gems in Charlene’s post:
“.. the idea of social graphs being “owned” by different social networks makes no sense. Yet, all of today’s social networks build their business model and competitive advantage on having the largest, most complete social graph. The result: I have a close colleague who enjoys exploring all of the new social networks and “friends” me on all of them, figuring I’m a pretty good person to have in his new network. In a world with a single social graph, he would be able to import his existing personal, social graph into any new service, and immediately begin enjoying the new service without having to wait for his friends to catch up. And I would be spared the insanity of having to accept his umpteenth “friend” invitation!….In a world of a single social graph, social networks will have to compete on the basis of creating the best experience for its members – not because it controls a unique social graph.”….
…”The brilliance of Facebook Platform is that it greatly expanded what people could do on social networks. The problem is that what people do is still pretty limited. Take a look at the top applications on Facebook – they can be roughly grouped into 1) managing/comparing/interacting with friends in a general context; 2) self-expression (FunWall, Bumper Sticker); 3) games; and 4) media preferences (iLike, Flikster). These are all fun and interesting, but they only begin to scratch the surface of what I do every day.”….
…”A business model where social influence defines marketing value. Today’s advertising models don’t work on social networking sites – that’s because simply targeting better on profile or social graph details is still the same old media model of CPM and CPC pricing. What’s missing is marketing value based on how valuable I am in the context of my influence. For example, Steve Rubel is a highly influential person because he is an authority on social media, the people in his social graph tend to interested in his views, and they in turn have a great deal of authority as well. (Several people came up to me after the speech and said that this is similar to a “PageRank of people”, a very easy way to crystallize the idea.)
This means that each person will have their own “personal CPM”, an idea I heard JWT‘s Marian Salzman discuss at a private event in February (here are more details on the JWT’s Top Trends for 2008). The idea is that marketers want to reach highly influential people, and hopefully curry their endorsements. This has traditionally been the province of public relations, where they reach out to key influencers. But in the world of social networks, this is influence writ large and wide – every person has their own network of influence, and hence, their own personal CPM or value that they contribute to a social network.
..”There are several start-ups as well as established agencies that are already looking at marketing, brokering, measuring, etc. social influence, so you can expect to hear more about this topic soon. But don’t expect advertising spending to quickly embrace social influence – after all, the vast majority of ad budgets are spent by media buyers who still cleave to the tried and true reach and frequency, CPM models.”
Why is this relevant? Because as pointed out yesterday by industry visionaries, the iPhone SDK announcement represents the biggest trend since the PC revolution – socially connected individuals, groups, and media are at the heart of this new revolution.
Social Everything includes devices (iphone) to connect to networks (open social + social graphs) to consume media and information (social media). Users love it and so advertisers will soon have solutions – hopefully provided by us entrepreneurs.
Twitter is the Ultimate SmartMob – The Money is in the Collaboration February 24, 2008Posted by John in social media.
Tags: community, online advertising, social advertising, social media, social networking, social networks, twitter, web 2.0
It’s no surprise that Howard Rheingold loves and is addicted to Twitter. I have been at the center of social networking and social media from day one and have seen tools come and go. Twitter is the real deal.
Many people don’t get it and will never get it. Where’s the business model – they cry. Many see Twitter as a geek utility – a low cost to run utility. It is clearly a solid communication utility.
Where’s the Beef people ask? Two Areas:
1) Communication and Coordination: At PodTech we did many social media experiments and one of them was implementing Twitter mobs to drive brand awareness – we used as a communication tool to create an engaged “smart mob”. Did it work. It sure did.
2) Smart Collaboration: Another area that Twitter rules is what I call the “smart collaborative mob”. This is the Web 2.0 “holy grail”.
Let me give some examples: I have been personally using it this way for sometime in vetting out my next venture. Also, more publically take a look at Seesmic and Loic Lemur. He is actively using Twitter as a collaboration tool to build his business – I love that about Seesmic. Just this weekend Loic Lemur was going through 900 feature ideas from the community – talk about smart mobbing for collaboration. It’s open source entrepreneurship – high quality, efficient and low cost.
Twitter is one major component for Social Media but it can’t be used unless it has a community.
Where’s the big business model in Twitter?
Answer: “Smart Collaboration”
Who owns it:? Everyone
Who makes money:? Everyone and Twitter
Google Video AdSense Review: A Mistep – No Innovation February 21, 2008Posted by John in social media.
Tags: google, online advertising, video adsense, video advertising
Google announced AdSense for video today. Google prides themselves on innovation. I love Google and have many friends over there (here comes the but), but their approach to video Adsense just isn’t there. IMHO. Here is a link to Google’s blog on the topic.
Everyone knows that Adsense has been a poorly performing product for ‘long tail’ and ‘torso content’ publishers. Adsense works great for Google, but Adsense isn’t working well for many publishers. However, it’s the only game in town. Google’s new AdSense is interesting, but I feel like Simon from American Idol. This wasn’t Google’s best performance. I’m not blown away by this.
User experience: The user experience for net video advertisement has to be good. Adding a 30 sec ad is a total distraction. Why would I want to watch a 30 sec ad from HP when I skip over these ads using Tivo. Give me something from HP that is compelling then I’m interested. The 30 sec ad user experience is poor.
Micronetworks need Microcontent: Microcontent is the only advertising solution that works in the ‘long tail’ and ‘torso’. In microcontent networks the ‘content’ is the ‘ad’. This is why cpm based video and cpc text ads don’t work in social networks. Micronetworks or social networks thrive on delivering value to users and the generic (somewhat) targed ads don’t deliver that value.
Monetization conflict with Editorial Content: Relevance is the problem here. Are advertisers getting the best bang for their buck – maybe its good for Crest toothpaste but not for the ‘holy grail’ which is targeted conversion. Publishers have targeted high value audiences and their audiences are looking for value not generic content ads. Many publishers don’t want to dilute their audiences with distracting ads. Publishers want a solution that delivers value to their ‘microaudiences’ and they are looking for a solution that pays them accordingly.
The paradigm of search and discovery *and* related ad techniques that orginated from search are changing. Google’s solution is an extension of their existing franchise in Adsense and doesn’t pass the innovation test.
Google will certainly make money because the big advertisers and their agencies are scrambling to move ad dollars from TV to the web. At best this solution from Google is a short term solution. It really isn’t a strong solution for advertisers and users.
Google: no offense but I think that you need to go back to the drawing board. Think different and build a product that is good for users, advertisers, and publishers.
Hey Mac: Look Who’s “Cooler” Now February 20, 2008Posted by John in Technology.
Tags: core 2 duo, Intel, online advertising, online video ads, quad core
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I love those Mac commercials where the PC guys is not was cool as the Mac guy. Wait take a look at who’s cooler now – pun intended. Dell is announcing the Core 2 Duo on the notebook their first 45 nanometer notebook. This is the first time that Dell has included the 45-nanometer processor as an option in the consumer-oriented Inspiron line.
We are seeing the benefits of smaller faster cheaper chips from Intel. Launched last month, Intel’s 45-nanometer mobile processors generally pack around 400 million transistors. One of the most salient features is the larger cache. The higher-end processors integrate 6MB of cache memory versus 4MB for the older 65-nanometer “Merom” generation, and the lower-end chips integrate 3MB vs. 2MB for the Merom-class processors. A larger cache generally means better performance.
I can’t wait to see quad-core processors hit the desktop and notebooks. Please Intel get them out faster.
Here is a nice video cartoon created as a commercial for Intel – It’s a nice MicroContent Ad – the future ad strategy for all corporations in the next 18 months.
Online Advertising Slowing? Just More Money – Expect New Products in Social Networks February 12, 2008Posted by John in Technology.
Tags: ADM, Association of Downloadable Media, google, microcontent, online advertising, social advertising, social media, video advertising
New data is out confirming that online ads are growing. Many people are looking at a potential online advertising recession. NOT. In fact more money is going into online ads then ever before. It’s recession proof. Last week Forrester came out with research confirming it. Now IDC has data confirming this online ad growth trend.
The real story is that Google is losing share *and* the ad formats are changing. In discussing the company’s latest quarterly report about Internet advertising, IDC analyst Karsten Weide said businesses affected by the slowing U.S. economy will slash other advertising budgets before paring their online campaigns. “We think there will be some effect on ad spending overall, but we think online ad spending will almost be unaffected even if there’s a depression,” he said.
For the first time ever, IDC’s research found Google actually lost a bit of market share. “Their domestic sales growth has slowed down,” the analyst said. CPM based ads are dying giving way to Microcontent and social network ads.Look for new standards to come from online advertising groups like the Association of Downloadable Media (ADM).
Big Picture: Ads dollars are coming from Broadcast and Print sectors. The money has to flow somewhere and it will be online. Expect video advertising to dominate the big dollars.
No recession here only expansion.
Tags: forrester research, microcontent, online advertising, social media, social networking business models
Forrester just put up a free report on why social media and advertising will survive a recession. It’s a must read for all online marketing executives. Last month, Adweek had a short article on this topic. I was quoted in there.
Here is my quote from AdWeek: “I don’t think we’ll see a marketing recession with online ads. The cost benefits and ROI are too compelling. It’s recession-proof.” —John Furrier, founder, PodTech Network, Palo Alto, Calif.
With Social media costs are dropping and the yield is increasing. I’ve been directly involved in developing social media products for three years and can tell you with conviction that social media works.
Bottom Line: Forrester got it right. They have some great suggestions.
The Bad News: metrics are very manual at his point so scalable metrics really don’t exist out there. However, there are folks out there who know how to interpret the current set of data that is available.
Good news: metrics are coming.
My advice to marketers: if a vendor can’t coherently articulate to you what the appropriate metric variables are..then run for the hills. Or just call me I know some good folks out there.
Marketers Note: If you’re reading this for the first time you should know that I’m biased toward Microcontent based social media and social advertising. In my opinion Microcontent has the highest yield to cost benefits out on the market today *and* the distribution capabilities are viable and getting stronger everyday (e.g. widgets..etc).
Facebook Beacon: Kara is the Pot Calling the Kettle January 14, 2008Posted by John in Technology.
Tags: facebook, john furrier, online advertising, opensocial, social media, social networking
In the 60 minutes interveiw of Facebook’s founder Mark Zuckerberg (which I thought was a puff piece) Kara Swisher is highlighted as the expert in Facebook. Kara deserves to be on there because she has been following Facebook hard for a while. I like Kara and read her blog. Kara is a pro journalist, but I fell off my chair at the end of the interview on her comment on Facebook’s beacon product. I have to call foul on this one Kara.
Kara: I respectfully disagree with you. First, I think that you’re wrong on your take on beacon. You said Facebook was wrong for doing it and not explaining it. Then you go on to basically question their judgement. I disagree with you. Beacon is a good thing for Facebook and for users. I think that Facebook rolled it out the wrong way, but it was a good move for Facebook. It’s a competitive advantage weapon for Facebook and a possible innovation lever for their user experience (and for future monetization). Secondly, you have a relationship Google and know that Google practices the same techniques as Beacon (can we talk about gmail, data centers and toolbar among other similar data driven innovations). By your logic Google is wrong and has bad judgement. Competing on the value of data extraction is precisely what Google built their brand on and it is what drives their ad monetization business.
Both Google and Facebook derive their products core value propositions from the aggregation and knowledge about data and data relationships.
Here is the 60 minutes interview. Note: Bill Gates was 17 when he started Microsoft.
Word of Mouth Marketing Works – Get Talking December 18, 2007Posted by John in Technology.
Tags: online advertising, wom, word of mouth marketing
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Word of mouth marketing is working for Advertisers. Is it scalable? Today WOM is mostly heavy lifting manual work done by creative and innovative PR executives. The big trend in 2008-09 will be ‘media planning and buying’ capabilities.
Here are some great fact from eMarketer:
Yet fewer than one-quarter of marketers surveyed in September and October 2007 by Ketchum and the USC Annenberg Strategic Public Relations Center for their “Media, Myths & Realities” report said they had a word-of-mouth program in place.
“Communications professionals need to vigorously reassess their communication priorities to meet consumers’ needs in this multimedia channel world,” said Nicholas Scibetta, senior vice president at Ketchum.
Influencers in the Ketchum-USC study often asked for advice themselves, making word of mouth a good tactic for reaching influencers in particular.
The number of people who have influence—because of their expertise, their passion and their connections—is likely to grow, as the Web offers more user-generated content opportunities and as more companies make word-of-mouth a priority.
eMarketer projects that, in 2007, 66 million adults will have shared advice about products and services and 27 million will exert influence online.
“Both populations will grow in size—and importance—over the next five years as more people become comfortable with sharing their opinions online,” said Debra Aho Williamson, senior analyst at eMarketer. “Winning them over is likely to be on every marketer’s to-do list.”
In a 2007 study from Accenture that looked specifically at how consumers learn about new products, 20% cited WOM as a leading source, trailing only TV (34%).
Video Ads are Here to Stay – What will they look like? October 9, 2007Posted by John in Technology.
Tags: advertising, john furrier, online advertising, podtech, video, video adsense
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Blodget has a post on video advertising. I’ve been working hard to get my advertising vision at PodTech to embrace this trend. What is video advertising? Short form youtube videos? Infomercials? Entertainment? All of the above?
A new report by research-boutique Off The Record suggests that, after a couple of years of dabbling, big advertisers are now taking online video advertising seriously. This is good news for traditional TV networks–Disney, Viacom (VIAB), News Corp (NWS)–and it’s good news for Google. The report was based on 10 interviews with ad-agency execs conducted from Sept 21-Oct 4.
- Video ads growing faster than ad execs expected.
- Video ads still account for only a tiny percentage of overall web ads but are expected to be the fastest growing category for the foreseeable future.
- Auto and entertainment categories strongest, with good growth in consumer products, technology, and fast food.