Autumn is here, and with it, a plethora of webinars, seminars and conference. My dance card is filling up. Here are some recent and upcoming events:
“A Millennial Perspective on Diversity & Multiculturalism” – American Advertising Federation – November 9th, 2011 – various locations throughout the country
The State of Mobile Commerce - Are You Meeting Your Customers’ Mobile Experience Expecations? – webinar – November 2nd, 2011 – NYC
Featured speakers, Sucharita Mulpuru, Vice President, Principal Analyst from independent research firm Forrester Research, Inc., and Compuware APM CTO, Steve Tack discussing:
- The current state of mobile commerce and key mobile trends
- Why tablet owners are a key component of mobile success
- Common mistakes that prohibit companies from capitalizing on the mobile opportunity
- Best practices to deliver quality mobile web and application experiences to smartphone and tablet users
Advertising Week NYC – October 3-7th, 2011
Advertising Week Videos available HERE.
Future of Media Forum – October 5, 2011
MediaPost’s Future of Media Forum brings to life MEDIA magazine’s annual “Future of Media” issue by gathering together prominent executives and intellectuals from all facets of media to discuss, debate and opine about the Media Industry’s future. This intriguing roundtable discussion — moderated each year by a noted industry journalist — will take place October 5th during Advertising Week at New York University’s Kimmel Center, hosted by the NYU School of Continuing and Professional Studies.
By the American Marketing Association (AMA): “Voice of the Customer is not just about surveys anymore. Customers are interacting with your brand through multiple channels including the website, retail store, contact center and even social media. You have to understand all of these multichannel interactions collectively to develop a complete Voice of the Customer. Join us on this webcast and learn how you can easily gather and leverage data from all customer touch points to deliver a superior multichannel customer experience.
Learn how you can:
- Collect real-time customer insight across channels
- Discover and act upon emerging customer trends
- Deliver a more personal and targeted customer experience
- Increase customer loyalty and reduce churn”
The World Technology Summit and Awards, October 25-26th
“On October 25th and 26th, 2011, at the TIME Conference Center in New York City, many of the most innovative people and organizations in the science and technology world will come together for an historic gathering – the 2011 World Technology Summit & Awards (the tenth incarnation) – to celebrate each other’s accomplishments; to explore what is imminent, possible, and important in and around emerging technologies; and to create the kinds of serendipitous relationships that create the future.
The majority of Summit participants are either current WTN members (primarily winners/finalists from previous World Technology Awards cycles, as selected by their peers as those doing the innovative work of “the greatest likely long-term significance”) or 2011 World Technology Award nominees. A combination of keynote talks, panel discussions, and breakout sessions… and potentially-career-altering-networking opportunities over two days concluding with a gala black-tie Awards ceremony on the second night held at the United Nations.”
How IP Geolocation Can Turn Your Local Marketing On – webinar – September 28th, 2011
“It’s a proven fact that located messages perform better overall but there is a discrepancy when it comes to online ads. Currently, online CPSs are far below their offline counterparts (TV, radio, direct mail), and this correlates to the fact that half of all advertising is bought at the local level but there is no scalable way to reach consumers locally online. For brands, targeting consumers locally is an essential and effective part of marketing as 80% of consumers’ disposable income is spent on businesses within 10 miles of their homes.
Advertising networks and online properties are boosting efforts to engage in increasingly local campaigns as clients are requesting geographically targeted ads. IP intelligence provides the ability for super-niche targeting, allowing brands to create/provide the most relevant and engaging adds as it provides unique information about web browsers. This increases marketers’ ability to reach their customers by targeting both business type, and consumer location, IP intelligence provides geographic, demographic and business information so that brands can effectively reach customers online the way direct mail and billboard ads are used to work offline. Marketers will be able to zero in on trends, demographic information and cultural aspects to best target consumers.
Key learning points that audience members will take away from this webcast are: What is the need for geolocation targeting? What are the statistics of geolcation effectiveness on advertising? ROI? What are some marketing strategies that I can implement around IP intelligence?
Speakers: Miten Sampat, VP of Product Strategy, Quova. Steven Cook, CMO, Co-CEO, i.e., healthcare. Alli Libb, Moderator, AMA.”
OMMA Global – September 26-27th, 2011
@adscientist posed the following question to me about Advertising Week’s overflowing goody bag of panels and presentations: “Did you learn a lot last week or did you look at it as a lot of obvious statements? I was looking for more insight than i got.”
His comment made me stop to think whether I could identify 5-10 true ”a has” from the conference. Here they are:
1. The ruling on the purchase funnel is not final. Most agree publicly that the traditional funnel, e.g., awareness, consideration, intent, purchase, loyalty – or as I was taught in business school, AIDA: Awareness, Interest, Desire, Acquisition, needs to be updated. The patch to purchase is no longer a straight line. The funnel of choice seems to be the McKinsey oval, which you can view in my summary of the panel. (No mention of the Forrester “path to purchase” in the age of social engagement – see below). The key takeaways being that: (a) the process is iterative and circular (b) must include advocacy (b) many include “loyalty,” but that’s not new, that’s just “adoption.” However, when we got to the TV panels, the upward and lower funnel nomenclature was still front & center. A disconnect?
Figure I: Forrester Path to Purchase in the Age of Social Engagement
2. I was incredibly impressed with Comcast’s Xfinity vision of how its subscribers will be able to interact with their cable TV menus and the ways in which it will connect to the digital world in terms of (a) broadcasting “likes” (b) finding out what friends “like.” And, RADICAL, there will be KEYWORD SEARCH! (When I asked about search functionality at an Advanced Advertising panel in 2010, I received a combination of perplexed and blank stares…) – See Graphic to the right
It’s (a) about the balance of push and pull in terms of broadcasting info (b) the ratio of real people to brands. If kids leave the service when there are too many adults, what will adults do when there are too many brands?
4. Brands are content creators. This is not new – see Larry Kramer’s recent book C-Scape, Conquer the Forces Shaping Business Today and recall Coke’s Polar Bear campaign (ahead of its time, or pre cursing the future that is today?), but it was a major theme, which means that it is becoming more mainstream.
5. SEM and ad networks are getting more advanced. Google has new multi-media listings. aol, yahoo and microsoft are creating a three-way ad network. Programmed trading (wait, are we talking about finance), is growing.
All for now except:
If you don’t have an iPad, you’re so not cool. Get thee to an Apple Store pronto! (iPads, like Facebook profiles of a few years ago, have reached a point where it’s not that you’re cool if you have one but that you’re NOT cool if you don’t have one.)
Matt Scheckner of Advertising Week begins each panel with the following comment: people always ask what is the theme of Advertising Week this year. And his answer is that there is not a specific theme. They identify the themes people care about the most and then find the smartest people to discuss those areas of interest.
So… what are the recurring themes that have bubbled to the top? Below is my iterative stab at it. Please share your suggestions, edits, corrections and comments:
1. Social, Social, Social – at least as many social talks as mobile talks.
- Social is a double edged sword. You have less control over it than we delude ourselves into thinking. If your product is not good, social will hurt more than it will help.
2. Facebook, Facebook, Facebook
- The open graph, the timeline and the new ad formats (sponsored stories) that leverage the opinions of your facebook friends. (What, by the way, is Facebook doing to educate its actual mainstream users about these innovations.)
- Do consumers want to have relationships with their favorite brands on Facebook? Answer seems to be, sure. I think the key is the right balance between push and pull. I’m a bit concerned that brands might become to the Facebook community as adults are to kids. Once too many of them are on the platform, the people may leave… will we kill the golden goose? It’s a delicate balance.
3. Paid, Earned, Owned
- Separate from this conference, Chris Lubin of Attention USA, added a fourth adjective to this marketing triumvirate: shared. In a recent blog post, he wrote: ”As social media matures, and audiences grow within branded environments, shared media gains importance. The most efficient way to build audience in social media is to co-opt the audience of a partner or like-minded brand—share. So, smart brands are using social channels to barter exposure, and cross-promote.”
4. Content Creation
- Brand as Content – Content as Brand: Marketers have (or must) become content creators
- People don’t hate advertising, they hate bad advertising.
- That’s an opportunity for agencies
- Deep dive into what Coke has and is doing – beginning with the revolutionary Polar Bear campaign (remember that!)
5. Metrics (and Data)
- Measure it. CMOs continue to be increasingly accountable for ROI, even display ads on in-store behavior
- The census. What is this data telling us, particularly about cultural diversity and influence. 50 million Hispanics. (Does this include “undocumented?” I imagine it does.)
- Continued debate and discussion around attribution.
- “A like, a friend, a follower.. a click” what is that worth to a brand?
- The “Data Management Platform,” aka DMP
6. The Funnel (aka Path to Purchase and Consumer Decision Journey)
- The traditional funnel is outdated. However, much of the terminology has survived and/or been incorporated to the new, bright shiny (Mustard colored) circular tubes. There is some consensus about the fact that the process is no longer linear but more of a circular conversation.
- However, the term “funnel” as well as “top” and “bottom” of funnel and stages such as awareness, consideration, acquisition were used frequently, particularly by CMOs. However… the funnel must include advocacy. (Social, social, social) And, the funnel is iterative and, well, free flow.
- Google, Google, Google.
- Retargeting. Performance display. Auctions.
8. Big, big, bigger
- Most speakers came from or service large advertisers. Not a lot of insight into how to get started with social, etc. if you’re small.
9. Digital Dollars
- Dollars are shifting into digital – because that’s where the audience is. But… the livingroom, big screen experience is not going away, particularly with smart/connected TVs
- We’re hearing numbers like 20%, 40%, majority of dollars being spent on non-traditional/digital media including mobile, etc. (See L’Oreal stats at end of post)
- Media and content providers finding that more of their content is being consumed wirelessly than wired (MLB)
- Yet… prices up 10% during TV upfront despite ratings declines
10. Bright Shiny Objects
- There needs to be a drinking game at these conferences where everyone drinks when they hear this phrase
- Oh, and also a drinking game about references to “Mad Men.”
11. Targeting (and Networks)
- Retargeting, cookie-ing, digital ad trading, real time bidding (RTB). (These terms and tools seem to have supplanted behavioral advertising; I don’t recall hearing that term mentioned at all)
- Serving ads that are relevant to the consumer
- Dynamic ad insertion – available online – that means the ads are dynamically inserted when the user requests the page so it’s really, really targeted
- The Yahoo!, aol, Microsoft “three-way” designed to give Google a run for its ad network money
- “Data is changing our marketing lives.” – MicroStrategy executive
12. Youth, Hispanics and Moms
- Youth: Do we know how to connect with this savvy group?
- Hispanics: 50 million, according to current census, and many are not assimilating because they don’t have to, e.g., language. Large families, heavy media users, especially mobile. Univision is a top 5 network. Can’t afford to ignore them.
- Moms: How to reach them? They are not all the same…
“After doubling U.S. digital spending in 2010, L’Oreal will spend as much on digital here this year as over the prior two years combined, Mr. Speichert said. That will bring digital to around 10% of L’Oreal’s overall advertising outlay in the U.S., he said. Although he declined to detail spending levels in dollar terms, Mr. Speichert said L’Oreal’s measured spending here was $1 billion last year, up about 25% from the prior year. L’Oreal is increasing its overall outlay rather than raiding other budgets to fund digital growth, he added.”
MSEO - Mobile Search Engine Optimization (October 7, 2011)
iTunes Optimization (aka iTO) – The art and science of marketing an iPhone application via the iPhone application store – and within the mobile ecosystem in general. The ultimate goal is to get the application as high as possible on the list of relevant and/or recommended applications. This involves paid mobile advertising, cross-promotion and other tools, as yet unmastered.
Alternatively Application Store Marketing and Application Store Optimization (ASM and ASO)
The Sixth Force – Refers to the importance of “complements” in evaluating the strategic position and approach of a company or organization. The sixth force supplements Porter’s existing five forces: Suppliers, Customers, Competitors, Potential New Entrants, Substitutes. When I was a brand manager for RAGU Pizza Sauce, the introduction and declining popularity of Boboli pizza crust turned out to be the most important element in explaining the rise and fall of pizza sauce consumption over a three-year period.
Segmented Media Pricing – Print publishers need to start looking at their business in a new way. Rather than maintaining the print versions of their magazine and newspaper publications as they are, and then deciding what form of walled garden, paid, metered, micropayment and/or freemium model to implement online, they need to unbundle and redesign what they offer – which is news and information, not a printed magazine or electronic replication with enhancements.
(Formerly called Disaggregation Correlations Optimization)
Social Mediaphobe – A marketer, manager or executive who is afraid to expose his brand to the masses – to what the massess might say – in a social forum. He is afraid that consumers might disparage the brand or say something inappropriate – and that, and this is the most common fear – he will be responsible because he sponsored, created, condoned, enabled, facilitated, hosted or participated in the forum. He is afraid of having his feelings hurt or his wrists slapped.
Hold the hands of these Social Media-phobes as they look down upon the icy ski slope. Tell them they can do it. They can conquer the mountain. Tell them not to lean back. Not to look back. That will only cause them to fall. Let them know that they can enjoy the ride. The journey. And that it can be exhilarating and even, well, social.
Beer Diplomacy – The use of beer by the president of the United States to patch up an awkward race-relations situation.
Eccentrepreneur – Simply put, an eccentric entrepreneur. You’ll know one when you see one.
Mistweeting – I did not personally coin this and give credit to Michael Herz at NYSSA. This refers to the act of stating or implying that you are doing something or located somewhere and then contradicting that with Twitter updates.
Spoken Word — “I will be out of town all summer.”
Tweet — “Just had dinner at a great restaurant in the West Village!”
Coffaholic – Someone who loves, loves, loves coffee [you know who you are] and everything that comes with it. Someone who will sit in a Starbucks just to soak in the aroma. Someone who buys every variety of those traveling coffee mugs she can find – even though she really needs no more than one.
By the way, does anyone remember thermoses – with the screw on lids and a cup on top of that? Do those still exist? The ones where you could add a little something to your warm beverage to make the football game a little more entertaining.
Reconnaissance Shopping – A quick walk through a retail establishment such as Loehmann’s to keep tabs on the types of merchandise they carry should a specific need arise. For example, recent reconnaissance made me aware of an abundance of very cute low-heeled boots, but I was not in the market for these. However, upon hearing from my doctor that I should stop wearing high heels, I was able to complete a quick, efficient shopping expedition on my way home from her office. Reconnaissance shopping is not the same as window shopping, which is more recreational and leisurely.
Frolleague – A colleague you would friend (or have friended) on Facebook.
Ovation Inflation – The somewhat recent practice here in NYC of giving a standing ovation to any performance that costs enough that the audience feels they must justify their expenditure by categorizing the performance as one that calls for a standing ovation. Personally, I save my ovations for occasions in which I am so moved, impressed or rendered speechless that I rise to my feet without even knowing it.
The Fourth Dimension – Of course, this term is not new; however, I would assert that via time shifting technology, we have indeed reached the fourth dimension. Deep.
(As it turns out I learned during a dinner with one of the Hadron Collider experimental physicists that digital video recorders and podcasts have not given us access to the fourth dimension. Evidentally, the fourth dimension derives from the Space x Time = Distance equation. Ah, well.)
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