This post in 140 characters or less: Marketers will have to figure out how to buy social media, or fail. New post and video http://bit.ly/5PPZbV by @joemarchese
I'm in shock that there's even a debate about the viability of advertising in social media. The only thing that outweighs my shock is my awe of the denial of some marketers that if they just "join the conversation" (still not sure why I want a brand in my conversation), then they don't need to figure out how to buy advertising.
It's like me with my dog. I love my dog. I think my dog is awesome. I simply don't understand why other people don't want my dog around all the time. Then I realize, they have other things to do that are actually important to them, and I guess my dog doesn't make the cut. Well, neither do most brand messages in social media, at least not at the scale marketers need, hence my original post: "No One WANTS To Watch Your Advertising."
Last week I got on stage at OMMA Global San Francisco to discuss just this issue with Laura Lang, CEO of Digitas; Huw Griffiths, EVP, Global Director of Research, Analytics and Marketing Accountability, Universal McCann; and Joshua Spanier, Director, Communications Strategy, Goodby, Silverstein & Partners. I could not have enjoyed the conversation any more, and think the audience found it entertaining.
Here are a couple of my quotes to give you a taste:
"Social media is littered with failed brand contests. All contests are a marketer's attempt at paid media -- they just don't know who to pay, so they put up a prize."
"Agencies who think that doing great strategy and creative in social media will be enough, and don't know how to buy media (or partner with agencies that can buy social media), will fail."
"All media is becoming social media, so if agencies can't figure out how to buy it, the whole industry is going to be in a lot of trouble."
It comes down to this: All digital media will be social media. Digital media will be the most powerful advertising medium marketers have ever seen. Advertising is simply searching for its proper form and function to fit into social media.
Here's the full panel. It's a bit long, but I promise it's worth it. "Social Media Is Not Advertising (Or Is It?"