It’s essential for brands to have access to and a relationship with their current customers and clients as well with their fans, natural allies, their topical neighborhood, and their prospective and future clients. In a post-Internet world, this is best handled online, for efficiency’s sake.
The advertising and public relations industries have to prove their worth. They have to show that what you bought delivered a return on investment (ROI). And the demand to create more accountability for social media increases every single day. Just last month, accountability was the basis for most of the discussion at ad:tech in San Francisco (watch my interview with Scott Milener, CEO of AdRocket, in which he talks about advertisers increasing demand for performance-based advertising).
Five years ago I remember making presentations to blue chip companies about a whole host of different social media projects such as a corporate social network for customers, a video demo site, a corporate blog, and a corporate podcast. While all the presentations went very well, and my audiences were always engaged, the last question always asked was, “How much is it going to cost, and how many people are we going to reach?” While I could offer different cost options, I couldn’t guarantee an audience. And it was at that point the pitch was often sunk. Continue reading →