the new media revolution: tips for marketers coping with a world where messages don\'t matter
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Slides from the Aquent/American Marketing Association Webcast on 8/28/08 with Paul GillinTRANSCRIPT
These slides are from the 8/28/08 Webcast:
The New Media Revolution:Tips for Marketers Coping With a World Where Messages Where Messages Don't Matter
This American Marketing Association webcast was sponsored by Aquent
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The New Media Revolution: Coping With
a World Where Messages Don't Matter
Paul GillinAuthor, The New Influencers
Cancelling AOL
AOL HellJune 20
June 24
June 26
June 21
June 23
July 14
Today
Vincent Ferrari
Dell Hell
“Dell said that it found no pattern of battery failure and that the Pennsylvania incident publicized by the Inquirer Web site was caused by a chip problem and not batteries.”
NY TimesJuly 10
June 24
Meet the new influencers
Steve Hall
PhilippLenssen
Paige Heninger &Gretchen Vogelzang
Blogs – global podium
The new craze: social networks
What is Web 2.0?
According to Wired magazine:
•Participation
•Openness
•Conversation
•Community
•Connectedness
The numbersActive blogs on the Internet: 23 millionMySpace/Facebook members: 125 millionFlickr/YouTube members: 25 million% of Facebook members who log on daily: 65Growth in US newspaper circulation since 1990: -8 million Average age of a network evening news viewer: 60
Seeds of changeWeb 2.0 is the greatest experiment in group self-organization in historySophisticated patterns of influence emergingPersonal publishing will completely disrupt the mainstream media; many won’t make itEveryone is now a potential content producer; this will fundamentally change the way businesses market and sell
Why now?
Cheap technologyFast networksGoogle“The Long Tail”
Source: Pew Research
It’s now cheaper to keep information than it is to throw it away. It’s also easier to publish information than ever before. This is an explosive new combination.
Mainstream media economics
Rooted in mass marketsDelivery network is differentiatorHigh reader/viewer retention rates; lack of customer choiceFat margins, high fixed costHigh barrier to entry
Social media economics
Rooted in small marketsDelivery is cheap and outsourcedLimitless choice; retention driven by contentFat margins, low fixed costNo barrier to entry
Media revolution
Let’s get small
Engaged customerTechnology enabledWell-informedOpinionatedFocusedPassionate
Influence disperses
Moving from this…
To this…
The power of peers
“In the U.S…a ‘person like yourself or your peer’ was trusted by 22% of respondents as recently as 2003, while in this year's study, 68% of respondents said they trusted a peer.”
Richard EdelmanOn the Trust Barometer Survey
“[A software company] told me they got 140 visitors to their website from a single mention on my blog. An article in [prominent technology journal] sent one visitor.”
Blogger Robert Scoble
New Influencers are passionate – both pro and con
Brand Engagement
Des
ire to
Influ
ence
Oth
ers
Reject
Pass
ive
Favor
Act
ive
Haters
EnthusiastsCritics
Lovers
Dismissers
MainstreamSkeptics
Followers
Traditional influencersAuthoritative 3rd parties, community leaders, press, gov’t.
New Influencers
Source: Sean Moffitt, BuzzCanuck
Action items
Tap in
Action: Listen to the conversationTools: Google, Technorati, Bloglines, Facebook
Objective: Find out what’s being said; learn the language and the culture
Result: Understand
Online tools
Engage
Action: Talk to the influencersTools: Comments, groups, blogs, “friends”
Objective: Identify brand advocates; contain and educate critics
Result: Influence the conversation
Enthusiasts come together
Recruit
Action: Turn enthusiasts into promoters
Tools: Widgets, tchotchkes, access, retreats
Objective: Build low-cost virtual sales force of informed customers
Result: Brand visibility; sales leads
In summary…
Social media is greatest market research tool ever inventedMessaging will be increasingly irrelevantMarkets will become more segmented and focusedLeadership will emerge but landscape is permanently fragmentedContent and credibility are king
Thank you!
Paul Gillin
508-202-9807
www.gillin.com
Now availablefrom Quill Driver BooksRead more and order at
www.NewInfluencers.com