My morning was spent working (I owe, I owe, it's off to work I go) but I was grateful to make it for the afternoon sessions for Day 3 of Adweek.
Despite arriving late, I got great value from a session titled Postcard from Texas - Making Sense of SXSW - Ben Bilboul (CEO Karmarama). Since I really would have liked to have gone to SXSW, I found this summary extremely useful (and much for affordable than a trip to the US).
- The killer app is that there is no app this year
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3d printing or creation is big, turning consumers into producers or creators. Examples:
- A boy in South Africa who had prosthetic mechanical fingers printed (lord only knows how?!)
- Makerbot has a website allowing you to get ideas
- One dad made lifts for his short daughter to get on Space mountain ride Disney
- 8D projector (4x4D) e.g. in a product form: imagine a projection on your child's wall of a word you say. This is similar to something demo'd by Dave Coplan the previous day, from Microsoft Xbox.
- Huge recurring theme was taking virtual world into real world
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Google glasses at $1500 showing information, all pulled information that you want e.g. Offers from Starbucks. A video was then shown with Go-Pro style footage of activities and usage for Google Goggles e.g skiing, skating and upside down flying though personally I think the glasses would have fallen off in any of these activities but you get the idea. ;-)
- Leap motion device ($80) shown turning your computer into a wii. Despite all the buzz about glass this is the device everyone came home and wanted to order (probably due to the low price point)
- The other overriding theme is that you have to offer something special and more human
- Hallmark are doing amazing work given that everyone thought they would go out of business. The younger the audience the more they crave authentic experiences and Silicon Valley VC's want to invest in e.g. A device which can turn a mp3 back into vinyl. These companies are being heralded as Web 3.0 experiences, e.g. Airbnb, Etsy, relayRides, and are poster children for more authentic web.
- It's early days for brands in this world and he didn't see a lot of brand applications. One example is VW and Google Labs with an app called Smileage which integrates a social network into a drive. Also allows you to give fist pumps to other VW driver. Not very safe though …
- Mark Zuckerberg said every year people with share 2x more information but not necessarily true as people actually want to share less. Snapchat allows you to sext a photo and then have it deleted (though it didn't realise you can just do a screenshot of the pic and then keep it forever). Path is a social network just for families with max 50. There is also a couples network, but I missed the name.
- If iTunes is a graveyard for branded apps, YouTube is a graveyard for branded video. It's not enough any more to create a funny video and expect people to share it. At best you'll get 45,000 views e.g. Fiat boob job
- Recommended book: Spreadable media by Prof Jenkins
- Check out "Meeku", a Japanese performing Avatar with an English language version about to be reached. All of her outfits, dance routines and songs are generated by the community and if you create it, you get royalties. Millions are going back to consumers and there are loads of Youtube views as people are personally invested. This is a totally new model for brands as it requires a relaxation of authorship
- Grumpy cat is an Internet meme and had the biggest queue at SXSW. Why? Because it acknowledges that people are emotional and irrational.
- We are entering a new phase for the Internet which understands that people are far less geeky than we expect. It acknowledges that people make decisions on emotional experience.The new emotional phase will also have lots of possibilities for co-creation of content.
Then it was time for a mega panel at the Guardian session on Masters of Monetisation moderated by David Pensell who justifiably commented on the poor representation on the panel (here, here!!). The attendees were Chris Bennett (Tapjoy), Andrew Bibby (SponsorPay), Josh Graff (LinkedIn), Christian Hernandez (Facebook), Piers North (Yahoo), Christian Peck (Axiom), Rupert Staines (RadiumOne), Michael Steckler (Criteo), Phil Stokes (PwC)
After a hilarious introduction round which was basically a glorified 'pissing contest' solidified by a Facebook showing up the other panellists with a humorously introducing them as having a billion users (after other panellists revealed smaller numbers). This would not have happened with women on the panel! The undercurrent of the introductions is "we are bigger, we are better" says David Pensell
What is big data?
- (Rupert) Big data is more about big insights and now the technology is available to process in a millisecond
- (Josh) is FB better than LI? Most members want to separate professional context from personal "you don't want your Saturday night turning it to your Monday morning"
- (Andrew) We think about data in terms of what the client is trying to achieve and on the back end verify the results in terms of what the client is trying to achieve
- (Michael) Relied on external data, specifically Google, but now seeing ability to fuse other data to get them to purchase a product when they haven't been to a company's website. Working with other partners now e.g. Datalogix
- (Christian) It will take people skill to connect all the different silos of data in an organisation to get a customer view
How do we work with content and engagement given that data gives insight into human behaviour?
- (Josh) Creativity is key despite just focussing on data. It's not enough to focus on content.
- (Rupert) Our job is to ensure that engagement is being tracked to enable a meaningful conversation with brands (which results in engagement)
- (Piers) Oscar Wild said "we know the price of everything and the value of nothing" - data is not the answer in itself
- (Michael) Data sits with creative
- (Andrew) Data can be used to drive efficiency, no waste through getter targeting and audience verification. More organisations are using data to drive insight for creativity especially as effectiveness of display is dropping (CTR dropping and not very engaging) That's where we like to work with creative agencies.
- Michael disagrees about the decline of display as Criteo is built on display and he obviously needs to defend their stance. The stuff that doesn't work is dropping and Michael see's display as one of the fastest growing sectors
- (Rupert) It's about understanding the consumer journey (cue attribution argument). This is an area we need to bring more value. Facebook exchange is a fantastic converter.
- PwC working on total audience measure for print and looking at total engagement on tablet and mobile, then de-duplicate for total audience measure. Ironically, those you took out are the most valuable as they are totally engaged (I.e. the de-duplicated people)! Until data is pure it will still be guesswork.
What is mobile doing in terms of impacting your businesses?
- (Chris) Claudine Collins of MediaCom referred to advertising which creates demand or harvests demand and mobile today is incredibly good at the latter. Revenue is created by driving engagement with consumers for Tapjoy's customers. How do we do brand advertising on mobile? Bob Greenberg confirmed that we don't know how to do brand advertising on mobile. No-one has cracked it.
- (Christian) You can't track it - no Cookie. Only FB and Google can do that. Fab have 30-50% of sales on mobile.
- (Josh) 30% of visits from mobile (up from 9%) 2 years ago. The way to monetize is the delivery of relevant content for an additive experience and not necessarily through display.
- (Rupert) Tapjoy and SponsorPay have a model. A lot of money thrown into downloading apps which then don't get used. In-app advertising experience is useless. We have social sharing and link shorteners for engagement.
- (Michael) Mobile reminds me of where we were a few years ago: different formats and advertiser demand low. Biggest opportunity in tablets. What do you do about native apps? There will be standardisation of formats.
- (Josh) You have to think about consumer experience on the different devices before you think about how it monetize it
What is next for your businesses?
- (Michael) We are all about managing risks and the more demand we get the more we can do this. We would like to go to performance-driven model where we pay per category. There are 2 misperceptions: we drive the middle of the funnel (display) where affiliates and Google drive bottom (click). Most of what we do is post-click.
- (Rupert) Social signals are one of the great informers of people's intent. This is the data collected on behalf of clients and publishers which we sell (though we are not a DMP). This first party data is used in real-time as the social signal is a real time signal which we intend to capture and then use a programmatic system to show an ad (as it generates engagement or intent). We don't have to rely on Third party data or buy data in. We monetize by selling the ads. The RTB or programmatic piece is the most interesting as we want to see the value proven in an attribution model instead if prices being driven down.
- (Christian - Axiom) We are building an operating platform on 3 levels to allow marketeers through a manageable platform to speak a common language. Cater for publishers, advertisers and partners. We supply a framework for marketeers to get closer to customers and have no competitors - we are not a threat.
- (Christian - FB) How do we actually grow businesses? How do we start solving business issues rather than just dealing with advertising briefs. We will get a dense graph about advertisers and users. Monetize rough micro transactions and advertising. It will all be about conversation and about the user.
- (Josh) Just launched Sales Navigator eliminating the need for a cold call through your network. The marketing solutions team provides support for this. Focus on economic graph not just social graph.
- (Andrew) We understand about ad blindness and pre-rolls getting in the way so our focus is on the consumer. We will focus on brand consumer engagement and then build the model in a balanced way.
- (Chris) That's all 5 years too far, we focus on the next quarter. We are in an in-app marketing solution. We have partnerships with the biggest developers and have rev-share deals. Will any of it change? The most engaging product or format will change and most people trying to figure that out. That's where the evolution will be.
- (Phil) PwC are very interested in data mining and analytics companies. Data allows you to also track consumption post-sale data which gives a lifestyle insight. PwC having conversations with different companies on this.
What are some interesting companies to watch?
- (Michael) Gaming: Ooja (?) games console for $100 with free games. Change.org socially responsible business which consumers are gravitating towards.
- (Christian - fb) Shape wave
Other comments:
- (Rupert) 50% planners and buyers don't understand RTB so need educate amongst agencies and marketers. We need more scientists.
- The RTB industry has made it so complex
- (Phil) You can be additive if you associate yourself with the outcome
- (Michael) Publishers are going into e-commerce and e-commerce companies becoming publishers e.g. Net-a-porter
- (Josh) Webble is a good example
- The Guardian gets asked about paywalls daily but the focus is on building reach
My final session for the day was entitled the Massive Round table (rather cryptic?) moderated by Buzzfeed's Jonathan Perelman with Lucien Boyer (Havas Sports and Entertainment), Moz Dee (contented digital media), Noel Penzer (AOL), Nick Cohen (MediaCom Beyond), Kelly Williams (ITV) presented by Variety. Another all male panel (and disappointment all round that Kelly is a 'he' and not a 'she').
- (Kelly) Technology means people are watching MORE TV with global audience of 8 million and featured on 10 o'clock news. Work with Compare-the-market doing genius work with creative.
- An example was mentioned of a clip with 900k hits which went to 60 million after promotion on the today show
- Is the 30 sec spot dead? The upsell and conversation is key.
- 5% of US households don't have a TV and next year 10%. How do we get consumers to engage with us? (AOL) We need to see where they are whether on Huff post or elsewhere
- (Nick) Brands using content is about connecting with passions and interests. We look at how behaviour is shifting, what are their interests and building platform agnostic content (then build big audience)
- (Kelly) It's hard to produce quality ad-funded content.
- (Moz) TOWIE lives and breathes every day. That's what you want to create
- (Nick) technology throws up an additive nature to advertising
- (Moz) Brands are now broadcasters. The value of talent is changing as talent now realise how popular they are. Mark wright from TOWIE has 2m followers. We need to change language I.e. not followers but audience and if you change the language the way you engage then changes!
What are we going to be talking about 12 months from now?
- Wearable technology e.g. google glasses and will need content for brands
- (Matt) The value of creativity
- (Noel) Mobile finally caught up with audiences, more brands engaging with content
- (Lucien) Will see more micro small communities and entrepreneurial co-production
- (Jonathan) The social networks will resolve into niche sites
Sorry I didn't attend more sessions but I hope you enjoyed reading the summaries and have taken away some valuable nuggets, like I have!