If agencies are having a tough time adjusting to the "distraction" of social media, mobile will be even more difficult, warned Rohan. Just because a business like search has been huge on the Internet doesn't mean it will be on mobile b/c of the form factor of the phone and the increased complexity of the medium. Communicating sight, sound and motion on a small device is just harder for less impact. The only marketers that will really thrive in the mobile environment are those offering coupons that can will drive people into stores. "If you can't do that much …

That's right. On a free cash flow basis, Rohan thinks Yahoo shares are undervalued, and that if there's even a slight uptick in demand for the Internet display advertising business, Yahoo's shares will rally big time.

Here’s one we haven’t heard before. Social networks, says Jordan Rohan, Founder and Managing Partner at Clearmeadow Partners, are like Central Park. “It’s very hard to spend money in Central Park … It’s very important to the city, but you’re not going there to spend money,” he says. “Very few people make any money off it.” Sure, like social networks, there are those retailers that are immediately adjacent to it, and will make money as a result, but they’re few and far between.

That was the surprising metaphor that Jordan Rohan used to define the difficult-to-define medium. And you know what, it kind of worked. Central Park in New York City, he said, adds to the quality of life in New York City, but for all the real estate it occupies, it does not contribute substantially to the commerce of the community. “It’s very hard to spend a lot of money in Central Park in New York City,” he said. “TO me, that is social media.” On the other hand, he extended the metaphor, there is some real estate located …

The advertising market is showing signs of life, Jordan Rohan told Global OMMA New York attendees during the opening remarks on Tuesday. The founder and managing partner at Clearmeadow Partners, a digital media advisory firm that helps companies raise money, says the request for proposal activity for clients working with major agencies have picked up, but the industry won't know until January if the pick up is seasonal, cyclical, or secular. The market is trying to stabilize from being over leveraged.

OMMA Global Day 2 opening keynoter Jordan Rohan is saying that ad agencies may not be the sexiest part of the digital media boom, but they are a key, influential part of the ecosystem. “Wow, the industry excitement for the digital media industry, may or may not be within the agency community, but because they are the stewards of the various brands that use Twitter, Facebook… at some point, their future is in their hands,” Rohan, who is founder and managing partner of Clearview Partners, explained. The bad news is that Rohan things the organizational structure of the …

It’s just after 8:30 a.m. and Max Kalehoff, VP of marketing at Clickable One, is giving his opening remarks to a groggy crowd on Day 2 of OMMA Global. One theme he picked up on yesterday: “Uncertainty.” The rules have yet to be written for social media marketing, plain and simple. Same goes for its future. As a result, said Kalehoff, “To be anything other than a student is disingenuous … It’s key to acknowledge the status of student.”

That’s how Day 2 emcee Max Kalehoff put it during his opening remarks. Actually, he said, it was a “strong undercurrent of uncertainty that was emanating throughout everything.” He said he still doesn’t understand the “new socialism” theme we’ve been pushing, but he said his own take is “I think that implies, is to be anything but a student is to be disingenuous.” Max, whose day job is vice president-marketing at Clickable, of course, gets everything. So I listened especially carefully when he shared what keeps him up at night. Hint: It’s not social media, per se. …

Customer relationships are what we're talking about but if we called it the Customer Relationship budget instead of the Social Media budget, we'd all be out of work, says Rick Murray, EVP, Edelman.

Michael Lazerow of Buddy Media notes that Facebook's new profitability shows that social media has a place at the table. Safe to say, it's going to be the largest business to come out of digital since search. Rick Murray of Edelman finds the challenge is operate within the different eco-systems, if you will, of social media. Lazerow is seeing massive budgeting being done for Facebook et al. Agrees Jeff Flemings of VivaKi: Something clients want but can't yet get is access to lower-funnel consumer behaviors. Upper-funnel stuff is soft, fuzzy and fun but doesn't have the clout. …