The Future Of [Social] Media

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The networked economy and what it means for brands and agencies

Published in: Business, News & Politics

The Future Of [Social] Media

  1. 1. The Future of Social Media Graeme Wood http://graewood.blogspot.com/ 1
  2. 2. What I’m not going to talk about... 1
  3. 3. …or… 3
  4. 4. What I am going to talk about 4
  5. 5. What is a brand? 5
  6. 6. We are social animals Michael Middleton – Flickr 2008 6
  7. 7. Industrial Marketing 7
  8. 8. The production line Awareness Interest Desire Action Consumption 8
  9. 9. And how did that work? 9
  10. 10. And did we? http://www.flickr.com/photos/menlo/936175848/11 10
  11. 11. Not this…. 11
  12. 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. 13. What will happen next? 13
  14. 14. Scarcity and Abundance 14
  15. 15. What will a brand be? Source: UK Brand Tags 15
  16. 16. Recommendation and Reputation 16
  17. 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. 18. Intelligence Development 18 http://visualgadgets.blogspot.com/2008/06/graphs-and-networks.html
  19. 19. Information systems 19
  20. 20. Opportunities not to see 20
  21. 21. What is technology 21
  22. 22. What will media look like? 22
  23. 23. THE STAGE Message broadcast at audience Scale = audience = where the eyeballs have gone 23 David Cushman FasterFuture.blogspot.com
  24. 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. 25. But what does all this mean? 25
  26. 26. Rampant Disintermediation http://uk.youtube.com/watch?v=7xAA71Ssids 26
  27. 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. 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. 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. 30. We are all individuals 30
  31. 31. Light lots of fires 31
  32. 32. We don’t ignore advertising 32
  33. 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. 34. We are the eighth mass media 34
  35. 35. What about Content? Didn’t that used to be king? 35
  36. 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. 37. This isn’t a new idea…… 37
  38. 38. How to be talked about 38
  39. 39. Commitment not campaigning 39
  40. 40. Piracy is just another competitor 40
  41. 41. Why so serious? http://upload.wikimedia.org/wikipedia/commons/4/46/Colorful_Clown.jpg11 40
  42. 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. 43. Marketing is customer service 42
  44. 44. We are what we share 43
  45. 45. Experiences will always be scarce Abundant Scarce ENABLE You r ad her e 44
  46. 46. So what should brands do? Be useful + Be interesting 45
  47. 47. Conversation not conversion 46
  48. 48. Join in You have to be part of the conversation in order to advise clients on it 47
  49. 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. 50. Carry on the conversation…. Graeme Wood http://graewood.blogspot.com/ 49

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