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Impact of Social Media on Advertising

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Presentation at Advertising in Social Media World conference 6th April 2011

Presentation at Advertising in Social Media World conference 6th April 2011

Published in: Business

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  • 1. Social Media & the Strategic Opportunity for Advertising Martin Thomas @crowdsurfing
  • 2. Hype Shows No Sign of Diminishing
  • 3. Advertising & Social Media
    • Contradictory messages
    • Change drivers
    • Reinventing the agency model & approach
  • 4. Death of Advertising May have Been Exaggerated £250k for 30 second spot
  • 5. High Speed v High Production v Ad of the Year?
  • 6. Big Media v Big Society v Highest rated ad during 2011 Superbowl $20m community fund replaces Superbowl ad
  • 7. Change Drivers Socio-Cultural & Media Landscape
    • Trust deficit
    • Dispersal of authority & expertise
    • Collective self expression
    • New technology
  • 8. Which media owner has larger audience than all these combined?
  • 9. Change Drivers Evolving Client Demands Fastest growing brand in category without any advertising support 140 m viewers, no media investment Expert sourced creative campaigns Breakthrough social media
  • 10. Change Drivers Shifting Creative Economics Visit Britain saved over £200k on photographic costs using Flickr “ A few 19 year old students … can design & produce a brilliant campaign in a few hours that once would have taken weeks of late-night creative work by 50 people to produce” Jerry Della Femina (original Mad Man)
  • 11. Change Drivers Emerging Collaborative Business Models
    • Tapping into spirit of collective self expression
    • Opening up radical new business models
  • 12. Community Commerce
    • Self-sustaining creative community
      • Members submit designs => 80,000+ submissions
      • Opportunity to pre test beta versions
      • Community votes => 800+ designs
      • Designers receive $2,500 + marketing advice + retain IP
    • No professional designers, no salesforce, no distribution, no market research, no advertising => $30m revenues … high margins
  • 13. Community Commerce
    • People-powered mobile network (from O2)
      • Members receive points for recruiting new people, making suggestions & solving problems => converted into cash
        • 20% actively involved
        • Aim that 25% of members will get half of cost of calls returned to them for contribution to community
      • Plans to involve community in pricing & marketing decisions
    • Not reliant on call centres, expensive marketing & product support
  • 14. Reinventing Agency Model & Approach
  • 15. Reinventing the Agency
    • Coming to terms with collaborative creativity
    Crowd/Expert sourcing
  • 16. Reinventing the Agency
    • Learning from the software industry
      • Cathedral = traditional, tightly controlled innovation model
      • Bazaar = loose, open source approach, harnessing the skills of the wider developer community
        • N ot particularly effective at originating concepts, which still rely on the spark of individual genius to make them happen
        • Very effective at testing & improving them
  • 17. Reinventing the Agency
    • “ Living life in beta”
    “ If something looks too perfect, consumers won’t touch it as ‘it leaves no space for me ” Clay Shirky Brand owners should “allow their work to get ‘messed up” Alex Marks at Microsoft Advertising
  • 18. Reinventing the Agency
    • “ Living life in beta”
    Authenticity & topicality more important than production values
  • 19. Reinventing the Agency
    • Creativity in real time … all the time
    • … something that the PR industry has always taken for granted
    “ 365 day creativity” rather than concentrating on 1-2 monolithic campaigns every year Robert Campbell, Beta
  • 20. Reinventing the Agency
    • Need to learn/relearn additional skills
    • Aided by client demand for “intelligent rebundling”
  • 21. Reinventing the Agency
    • Core creative skill remains critical
    • Further emphasised by rise of social search
      • Emphasis on content rather than tech
  • 22. Reinventing the Agency
    • Truly embracing new media opportunities without recycling old ideas & techniques
    Multi-screen Mobile Need to avoid “trying to do today’s job with yesterday’s tools & yesterday’s concepts” Marshall McLuhan
  • 23. www.crowdsurfing.net @crowdsurfing