New Career Opportunities Daily: The best jobs in media.

New Career Opportunities Daily: The best jobs in media.

New Career Opportunities Daily: The best jobs in media.

New Career Opportunities Daily: The best jobs in media.

New Career Opportunities Daily: The best jobs in media.

New Career Opportunities Daily: The best jobs in media.

New Career Opportunities Daily: The best jobs in media.

If you’re in interactive marketing today, it would be logical to assume that based on the tremendous growth in usage of Social Networking tools, you can ride the wave of interest to reach more people within a trusted network and get your message across within established groups.
Not so fast!
continued…

New Career Opportunities Daily: The best jobs in media.

It’s been somewhat experimental, given the need for the cooperation from both social site publishers and participating brands. There’s also been the issue of metrics, which have come from site publishers as well as third party services. The result is a long-standing interim of wonderment at the effectiveness of social media marketing. But looking at companies such as Dell, Skittles, Burger King and Starbucks and it’s clear that running certain kinds of marketing campaigns on various social networks does in fact have a lasting effect. And it all boils down to engagement.
continued…

New Career Opportunities Daily: The best jobs in media.

New Solutions Emerge

Last week news of Facebook’s new “Engagement Ads” emerged and at first it didn’t click with me but the sound of it is pretty ominous. Today MediaPost posted an interview with Facebook’s VP of Media Sales, Mike Murphy in which he says “Over the last few years, Web advertising has been all about demand fulfillment.”

The article continues, “he believes that Facebook users aren’t necessarily seeking to execute tasks or fulfill specific demands, and by nature are less inclined to click on ads that take them away from the site.” What Mike Murphy believes is something that isn’t theory, it’s fact: users on social networks do not click on advertisements and this is why Google continues to reign in the majority of online advertising dollars.

Direct sales is what advertisers want and it’s not surprising. When you can put in money into specific advertisements and you can track that advertisement to a sale, why wouldn’t you purchase more or look for other channels that can do the same thing? That’s what most are doing, but a few brave souls are beginning to explore new territory.

Engagement Advertising as the 4th Type of Web Based Ad

You are a brand manager. You are sitting at your desk trying to process a ton of data and make a decision about the next quarter’s advertising budget. You have a bunch of options including: television, newspaper, radio, mailers and online. Online is broken out into banner advertising, search advertising, email marketing, and more recently “social media” which nobody has figured out how to classify it.

If Facebook agrees with what many others are saying, the new categorization should be “engagement advertising”. Meebo has already been offering these types of solutions (as they will discuss at the upcoming Social Ad Summit) and a number of others are beginning to do the same. Ultimately all engagement advertisements boil down to one thing: the conversation.

In public relations, marketing and advertising firms there have been a number of solutions to track buzz such as Cymfony and Nielsen BuzzMetrics. These new “engagement advertisements” ultimately produce similar results. At the end of the day, Meebo or Facebook will come back to the advertiser and say “X number of people interacted with your advertisement and Y number of people are now talking about your product in comparison to Z people before.”

Still Very Early

Just as brands are cautious to enter this space, social media evangelists should be equally concerned about this hesitancy. While we alway have “attention economics” to rely on, soon enough every social media site is going to be pushing this new type of advertisement. The only problem is that the industry is still learning how to measure all of these things.

Metrics is not a new phenomenon, it’s just that technology has made it easier to measure things. Unfortunately all of us are trying to figure out ways of packaging and measuring this “new type” of advertising while at the same time selling it “as is”. Fortunately for the industry there are brands that are willing to experiment and test the waters but the windfall profits we are seeking from social media may no longer be just over the horizon.

Rather than just measuring the impact of advertising on direct sales we are now entering a phase where we monitor the impact of advertising on conversation. While there are already systems in place to monitor the conversation, it was previously challenging to influence the conversation on a large scale. What social networks are now providing is a way to influence consumers’ conversation en masse.

The real question now is: can influencing the conversation on a large scale result in sales? If it can, how do we measure the correlation between conversation and sales? Is this really the secret key to social networks generating large amounts of revenue?

New Career Opportunities Daily: The best jobs in media.