This week I attended one of the more interesting discussions around brands’ use of social media that I’ve taken in during the past year.
Your Brand, Their World at Razorfish’s corporate headquarters in San Francisco brought together a highly engaged audience of 100 social media and marketing specialists during an opening presentation by Garrick Schmitt, GVP Experience Planning for Razorfish (@gschmitt on Twitter) followed by an interesting panel with Megan O’Connor, Levi’s; Michael Brito, Intel; Marisa Gallagher, Razorfish; Sam Faillace, Shutterfly, and Jon Swartz, USA Today (moderator).
“We’re all intuitively going through these changes and we’re all intuitively interacting with [brands and media companies] in different ways without fully understanding what it all means,” Schmitt said.
Slide highlights: social media spending
• Schmitt offered metrics to back up the excitement around the explosion of interest in social media. For instance, in slide 3 of the deck above, you’ll see that in Interactive marketing spending (US), search marketing and display advertising far surpass email marketing, social media and mobile marketing social media in terms of dollars spent today. Social media spending will grow from $716 million this year to $3.113 billion by 2014, according to Forrester’s projection.
• Advertising dollars haven’t followed the audience’s migration online yet — but it will. Americans spend about an equal amount of time watching TV and going online today, but ad spending remains at 31 percent for television vs. only 12 percent for the online medium. (slide 5)
• Bad news for newspapers: Individuals spend 7 percent of their media consumption with print newspapers but the ad spend for newspapers is 14 percent today.
• You’ll find richly textured analysis of the trends in social influence marketing in Razorfish’s recent fluent publication (free download).
Panel highlights: rock stars and the 80-20 Rule
• I love those new Intel commercials (“Our rock stars aren’t like your rock stars”) on PBS’s NewsHour and elsewhere, especially the ones featuring Ajay Bhatt, one of the inventors of the USB. I guessed that it wasn’t really him (Wikipedia is silent on his age), but thought those were real Intel employees. However, it’s an actor playing Bhatt, Michael Brito said, and indeed, all the employees portrayed in the ads are actors.
• Brito (@Britopian on Twitter) uses the 80-20 Rule in his tweeting: 80 percent is personal, 20 percent is business — an excellent frame of reference for companies just jumping into the game. He talked about the importance of reaching out to the community “in an authentic manner” through their social media efforts, such as the Intel Insiders (disclosure: I’m part of that team). “I’d rather have 100 people I have an authentic relationship than 5,000 followers” and an artificial relationship or no real nexus to you or your brand.
• “Social media is not the be all and end all,” Brito added. “Not every company needs a Twitter account or a Facebook app.” Continue reading