Scott Monty, Ford Motor Co,'s global digital and multimedia communications manager: Social media isn't about turning on a switch and seeing a rise in sales the next day. It's like walking into a cocktail party handing a business card to everyone and walking out the door.

You're never too old or too big to tap into social media and connect with consumers. That's the message Scott Monty, Ford Motor's global digital and multimedia communications manager, sent OMMA Global New York attendees Monday morning. It's no secret consumers trust companies far less today than in the past, but they do trust other consumers. Although Ford's brand recognition ranks at about 95%, the company set out to create a new direction to connect with consumers. That direction is firmly planted in social media, Monty says. Ford wanted a strategy that would humanize the brand and connect …

CEO and Cofounder comScore Magid Abraham opened OMMA Global New York during Ad Week this morning talking about social networks. He says CPMs are dropping because the supply of ads continue to explode. Social networks contribute to that phenomenon. They account for 21% of the total impressions online, but 3.5% of dollars. Social network dominates impressions. Advertising on social networks is primarily direct response advertising, dominated by telecommunications. Three of the top 10 advertisers on social networks are wireless or telecom carriers. The top branding advertising are missing. the highest ranked at 42 is Unilever.

Dave Morgan, presently CEO of Simulmedia, kicks off OMMA Global with the idea that it’s not a matter of if but when ad dollars go digital. “We’re certainly at an extraordinary moment,” said Morgan -- who founded online ad firms RealMedia (which later became 24/7RealMedia and sold to WPP for $649 million) and Tacoda. “We’ve already started to move marketing budgets.” Regarding social networking and micro-blogging, Morgan said simply: “It cannot be dismissed.” The issue is no longer distribution, which is “plentiful,” he said. “What is scarce is audience attention.” No doubt a wealthy man, why is …