Emily Riley opens as moderator introducing the panelists with the idea that Paid Advertising is still alive (as if it ever was) in Social Media.
A lot of people are still playing with social media but there's not enough volume to think of as typical media buys. However, many studies are showing that paid advertising is a part of social media - the idea that social media is out there, anyway.
How do we play in this space but do we know what really is Social Media? It's hard to define what Social Media is, and now people demand ROI yet we don't measure each stage of the funnel.
Where is the money going? Facebook? Edelman says they are getting significantly more money than they did 2 years ago and some of it is going into Search - but the rest is going to take staff and resources and most of the spend is going to Social Networks because that is where the people are and that's why marketers want to play there. At this point, the only Social Network that matters is Facebook - and figuring out a strategy for Facebook.
Is there any plan on continuity - once you develop relationships and the product/promotion ends, what happens to that relationship? If Social Media becomes "relationship building", one panelist sighed ...."we'd all be out of business".
The media companies we know of today are dying, but what do brands need to do now?
Think about habits and figuring out if your content is meeting the needs of your audience.
Stimulate conversations so we can use listening platforms to do research.
Value should be determined by how much information/content is shared - can look at "re-tweets" and "share this" and "share with friends" to score value in Social Media.
The brands need to figure out how to figure out the value of impressions from social media vs. regular impressions from other media forms. Some have identified an "impression" followed by "engagement" followed by "activation" and if you can figure out what each stage is worth you can assign value.
What's the future of Social Media for Health Care? The answer is - it's health care's only future as Paid Advertising is in the process of being regulated out of existence, according to one panelist.
location: Alvin/Carnegie (5th floor) |
Moderator
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Panelists
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Hugely popular social media networks like Facebook and Twitter are bigger than ever. But they're still having trouble developing advertising-driven revenue models. Why? Because they fail to move the needle for marketers who make the advertising investments. Which begs the question: is buying paid ad placements in social media dead? When advertisers buy social media, what benefits, exactly, are they getting? Can paid placements ever move the needle in intimate environments where people wish to talk with one another, not marketers? This discussion will examine the viability of social media as a media opportunity for marketers. What are the opportunities and risks? What social media advertising innovations are in development? Who's doing it right, and who's failing?
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