Here's the truth: Consumers now have a voice, they have more choice and can hold marketers accountable as never before. Consumers can quickly organize, mobilize, reward and punish. Their gestures and votes are far more impacting. The ANA is right in suggesting that "truly interactive dialogue" is imperative, and those who don't "abandon their historic 'command and control' model of brand building" will suffer.
Everybody knows that the media world is undergoing extraordinary changes from the digitization of content and the growth of digital platforms like the Internet. Predicting who will win and who will lose in this transformation has been both a parlor game and a game of high-stakes finance for everyone involved. While there has been lots of speculation as to what might happen to different companies, what hasn't been talked about as much is, what will happen to media industry people?
Second Life is a new Web 2.0 media darling, and we as media planners and buyers must sort through the hype and advise our clients. That's why I had to check it out for myself. And I acknowledge that while it is an amazing, surreal experience, it is nowhere near its peak of usefulness as an advertising vehicle. It is, however, a great example of the new media world that is evolving before our eyes, and how we must try to keep up and adapt.
Cost per thousand impressions, or CPM rates; they act as the currency for brand advertising online, as well as across many traditional mediums. But anyone will agree that not all impressions are created equal.
Come on. let's face it; we all want to create cool online campaigns that spread virally. We spend countless hours with our creative teams strategizing over copy, content, format, and vehicle. One of the most critical factors that we all know is not to fake it. Faking it isn't cool.
The most elegant insight at the Word of Mouth Marketing Association's annual confab in Washington, D.C. earlier this week came from Ted Leonsis, vice chairman of AOL. He noted that "Marketing isn't just to people anymore. You have to market to algorithms."
If there was any question in your mind about Google's quest to unseat ad agencies, they are answered in today's Wall Street Journal piece reporting on Google's new ad programs, including its tests with video, radio, newspapers, television, click-to-call, cell phones, and online maps. This is in addition, of course, to Google's core search and contextual ad listings, which are already generating $10 billion in annualized revenue.
This year the biggest buzz of all was created via user-generated content. I fanned the flame quite a bit myself--but as the year ends and I continue to see people talking about the topic, I wanted to offer something that I see no one else offering up. I want to propose a solution for you as you consider how to use UGC.
Google is willing to work with anyone interested in solving the big issues facing advertising; anyone, that is, willing to rethink anything and everything. But the catch is that a purely Google solution (re: algorithmic) to advertising's problems could have seriously detrimental effects on agencies' bottom lines.
It was funny when a friend's mom recently asked me my thoughts on Voice over Internet protocol, referring to Vonage and Sun Rocket. Oh, I forgot one important fact, she's in her '80s. VoIP seems to have snuck up on us a few years ago, and this year, it seems, everyone is talking about it.