Marketing has changed more…..Source: Internet Advertising Bureau, 2004Source: Darwin Day Conference, by Google
1. Product ProliferationProduct proliferation and availability means more choice forthe buyer……..Source: Strike up the Brands. McKinsey & Company, December 2003Source: Darwin Day Conference, Google
2. Media Proliferation Today, media is fragmented • 13,500 radio stations (4,400 in 1960) • 17,300 magazine titles (8,400 in 1960) • 82.4 TV channels per home (5.7 in 1960) And the Web: • Millions of sites • Billions of pagesSource: “Left Brain Marketing,” Forrester Research (April 2004);“The Vanishing Mass Market,” BusinessWeek (July 2004)Source: Darwin Day Conference, Google
3. Access Proliferation • Video games • Radio • Satellite Radio • Email • DVD • TiVo (Starhub PVR) • XBox LIVE • Ring Tones • Video On-Demand • Websites • TV • Newspapers • IM • Blogs • Podcasting • Search • Magazines • Cell PhoneSource: Darwin Day Conference, Google
Digitization of Media New Media Old Media Reach Mass Media Niche MediaSource: Darwin Day Conference, Google
“ A radical advertising and marketing change has occurred in the World of ”Source: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
Consumers are not listening anymore Interruptive marketing has seen it’s daySource: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
The Audience is creatingSource: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
The Audience is selecting Time Shift technologySource: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
The Audience is changingSource: http://www.iirusa.com/upload/wysiwyg/M1805/IIR_M1805_Seaton.pdf
As a result “We are immune to advertising. Just forget it. ” “You want us to pay? We want you to pay attention. ”“ The Internet became a place where people could talk to other peoplewithout constraint. Without filters or censorship or official sanction —and perhaps most significantly, without advertising ”“Dont talk to us as if youve forgotten how to speak. Dont make us feelsmall. Remind us to be larger. Get a little of that human touch. ”
“ Consumers control the online environment so brands need to think about facilitating user-created actions, not just user-generated content." Unlike newspapers and TV where the advertisers are speaking at consumers, the Internet allows for more back and forth ” interaction.
Consumer Touch Points Blog Sites Music Sites Reads his friend’s postings Reads up on new cd releasesMovie Sites Downloads Songs Buys tickets online Sports Sites Gets the latest updates on favorite teams Gaming Sites Looks for information Checks scores about Nascar games Google.com Searches for “what’s cool”
Social Media’s Timeline1971 1979 1984 1988 1991 1995 1998 -2004Email Usenet Listservs IRC Personal Web Sites 1st Social Blogs Discussion Groups Networking Site Podcast Chat Clasmates.com Wikis 2005 and beyond>> Web 2.0 apps and User-generated content take over Source: http://www.prworks.ca/wp-content/socialmedia.ppt
The “satisfaction effect”Source: http://www.churchofthecustomer.com
The Evolution BROADCAST “We tell you” Examples: The New York Times, CNN Publisher/broadcaster Big media $ Newspaper buys for display $ Magazines advertising $ TV Passive readers/audienceSource: www.managementinnovationgroup.com/docs/MIG_Social_Media_Poster.pdf
The Evolution INTERACTIVE “Tell us what you think of what we tell you” Examples: nytimes.com, cnn.com Publisher/broadcaster Big media buys for $ Newspaper Forums display advertising in heavily trafficked site $ Magazines Comments $ Web Video Ratings Smaller, targeted $ media buys for contextual $ advertising in $ less trafficked parts of the site $ Passive readers/audienceSource: www.managementinnovationgroup.com/docs/MIG_Social_Media_Poster.pdf
The Evolution Social Media “Tell each other” Examples: Wikipedia, Slashdot, Ohmynews $ Collaborative Smaller, $ Publications targeted $ media buys Co-creators $ Revenue Share for Pay for less $ contextual advertising $ $ Passive readers/audienceSource: www.managementinnovationgroup.com/docs/MIG_Social_Media_Poster.pdf
“ Engagement is all aboutmaking it relevant to the consumer. ” James Speros, Chief marketing officer, Ernst & Young
“ People read particular magazines because of the life stages and events which currently involve them: from teenager to golfer, from having a baby to coping with retirement. ” Source: Henley Centre, Delivering Engagement 2004
“The editorial/reader relationship is a one-to-oneconversation, and in time it creates a bond oftrust, of belief, expectation and empathy. It isthrough the quality of this relationship that anaperture or opening to the reader’s mind andheart is created, through which we advertiserscan establish communication. ” Advertiser with Readers’ Digest
Different levels of engagement Belonging Having sense of shared values and common experience,Identification CommitmentMost basic level of People who are passionateengagement enough to devote lot of time and/ or moneySource: The Henley Centre/ Redwood 2003
Summarya) Media Landscape: - Advertising Environment - Marketing Environment - Long Tailb) The Consumer: - Generation C - Consumer Today - Consumer Touch Pointsc) Social Media: Area of Research - Timeline - Social Media Trend - Social Media - Word of Mouth - Digital Experiencesd) Engagement - Trust
Methodology Social MediaContent Analysis Discourse Analysis Interviews Case Study
Why am I interested? Hype Understanding, turning it to a power tool Future of Advertising
Research Questions(1) How can the effectiveness of the advertising budget in traditional media be heldaccountable?(2) What tools can be developed to assess the expenditure of monies in the new digital media?(3) How can the effectiveness of internet creative messages be evaluated empirically?(4) What elements are necessary for online media planning to be successful? (5) How can interactive and traditional advertising agencies get together to do better work inthe future?(6) How can the outcomes of traditional consumer behavior research be applied in the newdigital world?(7) What non-traditional methodologies might be useful in addressing the concerns of the newdigital world?
Thank YouThis is a standalone presentation! This is social media! www.mehmettanlak.com
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