Moderator: David Honig, Co-founder, Media6°
Dr. Joseph Plummer, Adjunct Professor, Columbia School of Business
Matt Jacobs, Vice President & Group Director of Strategy and Analysis, Digitas
Shiv Singh, Vice President, Social Media, Avenue A| Razorfish
Melissa Davies, Research Director, Healthcare, Nielsen Online
Bill Alena, Vice President Advertising/Business Development, myYearbook.com
2:15 There are a lot of women in marketing and women rule the blogosphere so why is this the first panel with a woman included, today?? it's always the same at these things :(
Shiv: Ave A rarely separates out Social Media in a plan. It's about online behaviors.
Prof. Plummer: Emerging media - you have to turn the world upside down and start with the people that you want to be the prospects. The people are already engaged. It's a great learning tool - the term data-mining is a poor term to use in relation to social media.
Social Marketing is people!
Think about circle of influence around your targeted audience.
Melissa: Focused on healthcare - is more buzz better for our brand?
Clients want to know what people think of them - quantitative and qualitative.
Again back to the idea that they need to tell clients to have Unconventional expectations. Social media may have a halo effect or a decrease in response or conversions.
How does engagement translate into ROI? Well AGAIN what is the value of a relationship.
Hopefully, Neilsen and other companies will start producing reports that show how sentiment effects purchasing.
If you only have a transactional model in your head you will miss the greater value of a devoted customer over time. If you keep measuring A and not looking at B&C you will miss a lot.
No we dont have something as simple on the table as CPM clickthrough rates etc.. but if we keep poking around there is power in the interactions between people to teach us something. Where does this take people where else can we connect with them. SM has created a new model that is based on advertising to empower customers.
you can't think of SN as places you can place banner ads. People don't click on them because they are there to hang out with their friends. Think more about value of each relationship and each persons network.
The Professor speaks: There are 2 fundamental ways we learn, "the flash" instantaneous neurons connecting, "the creep" takes you brain a while to work on it. "creep" has a bigger effect on long term memory than "flash".
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