The Future Of [Social] Media

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The networked economy and what it means for brands and agencies

The networked economy and what it means for brands and agencies

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  • Notes to go with this deck are here http://graewood.blogspot.com/2008/11/future-of-social-media.html
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  • 1. The Future of Social Media Graeme Wood http://graewood.blogspot.com/ 1
  • 2. What I’m not going to talk about... 1
  • 3. …or… 3
  • 4. What I am going to talk about 4
  • 5. What is a brand? 5
  • 6. We are social animals Michael Middleton – Flickr 2008 6
  • 7. Industrial Marketing 7
  • 8. The production line Awareness Interest Desire Action Consumption 8
  • 9. And how did that work? 9
  • 10. And did we? http://www.flickr.com/photos/menlo/936175848/11 10
  • 11. Not this…. 11
  • 12. What has changed? Economics: The science which studies human behaviour as a relationship between ends and scarce means which have alternative uses Lionel Robbins The Nature and Significance of Economic Science (1932) 12
  • 13. What will happen next? 13
  • 14. Scarcity and Abundance 14
  • 15. What will a brand be? Source: UK Brand Tags 15
  • 16. Recommendation and Reputation 16
  • 17. Markets are conversations. Conversations among human beings sound human. They are conducted in a human voice. Markets consist of human beings, not demographic sectors. The Cluetrain Manifesto, 1999 quot;We always overestimate the change that will occur in the next two years and two underestimate the change that will occur in the next ten.quot; Bill Gates, 2008 17
  • 18. Intelligence Development 18 http://visualgadgets.blogspot.com/2008/06/graphs-and-networks.html
  • 19. Information systems 19
  • 20. Opportunities not to see 20
  • 21. What is technology 21
  • 22. What will media look like? 22
  • 23. THE STAGE Message broadcast at audience Scale = audience = where the eyeballs have gone 23 David Cushman FasterFuture.blogspot.com
  • 24. They aren’t looking at The Stage. They are looking at each other Scale = lots of communities of purpose = where the eyeballs are focused 24 David Cushman FasterFuture.blogspot.com
  • 25. But what does all this mean? 25
  • 26. Rampant Disintermediation http://uk.youtube.com/watch?v=7xAA71Ssids 26
  • 27. The role of a brand in the age of industrial marketing no longer exists Attention is scarce and expensive. Media is not We already have tools to avoid advertising They will increase exponentially 27
  • 28. What to do about it People haven’t changed We are a mass medium Markets are conversations Be part of the conversation Embrace failure JOIN IN 28
  • 29. People haven’t changed Tell me and I’ll forget Show me and I’ll remember Involve me and I’ll understand 29
  • 30. We are all individuals 30
  • 31. Light lots of fires 31
  • 32. We don’t ignore advertising 32
  • 33. Fail Little & Often quot;..our company's success rate runs between 50 and 60 percent. About half of our new products succeed. That's as high as we want the success rate to be. If we try to make it any higher, we'll be tempted to err on the side of caution” A.G. Latley – CEO, Procter & Gamble 33
  • 34. We are the eighth mass media 34
  • 35. What about Content? Didn’t that used to be king? 35
  • 36. Something to talk about Content isn't king.. If I sent you to a desert island and gave you the choice of taking your friends or your movies, you'd choose your friends -- if you chose the movies, king. we'd call you a sociopath. Conversation is king Content is just something to talk about Cory Doctorow 36
  • 37. This isn’t a new idea…… 37
  • 38. How to be talked about 38
  • 39. Commitment not campaigning 39
  • 40. Piracy is just another competitor 40
  • 41. Why so serious? http://upload.wikimedia.org/wikipedia/commons/4/46/Colorful_Clown.jpg11 40
  • 42. Communication = Dialogue LISTEN http://www.flickr.com/photos/beebe_library/3042545758/ Listen to the customers you don’t have – there are far more of them Peter Drucker 41
  • 43. Marketing is customer service 42
  • 44. We are what we share 43
  • 45. Experiences will always be scarce Abundant Scarce ENABLE You r ad her e 44
  • 46. So what should brands do? Be useful + Be interesting 45
  • 47. Conversation not conversion 46
  • 48. Join in You have to be part of the conversation in order to advise clients on it 47
  • 49. Learn from others Faris Yakob (McCann Erickson) David Cushman (Brando Digital) Talent Imitates, Genius Steals Faster Future Rohit Bhargava (Ogilvy 360) Mark Earls Influential Marketing Herd Kevin Kelly Paul Isakson (space150) The Technium Paulisakson.com Neil Perkin (IPC) Alan Moore (SMLXL) Only Dead Fish Communities Dominate Brands Matt Mason Justin Billingsley (Orange) The Pirate’s Dilemma The Feed Andy Hobsbawn (agency.com) Noah Brier (Barbarian Group) Do the Green Thing Noahbrier.com 48
  • 50. Carry on the conversation…. Graeme Wood http://graewood.blogspot.com/ 49