Social Media & Digital Marketing in Singapore

The Open Room: Journalism’s From Mars, Social Media’s From Venus

Friday, June 26th, 2009
Mars & Venus

Mars & Venus

Ogilvy’s Digital Influence team held another Open Room, titled “Journalism’s from Mars, Social Media’s from Venus” and after tonight, I think it’s clear that the problem they have is the problem everyone (businesses, schools, non-profits, the music industry, etc) is having. They were sitting on a model that was working for the last 50 or so years, have been blind-sided by the sudden tidal wave of social media and not only are they not scrambling to catch up, but they’re actually holding on to the old world for all that it’s worth.

As with panels, I was fully prepared for some of the audience to be un-accepting of some young (and even worse, enemployed) punk telling them what the world is like. And it was no different this time, which is fine with me, it makes life exciting! How awfully boring would it be if everyone just nodded their heads and agreed.

I think it was a really interesting discussion. There was as much uncommon ground as there was common, and it’s painfully obvious both sides have to learn from each other. Monetisation is not a dirty word, but neither is trusting a fellow blogger. I think we have to move away from our normal worldviews that content creating is done for passion (for bloggers) or that the man on the street (or the Tweeter on Tweetdeck) is less reliable and/or credible than the journalist.

Thinking about “journalism” from the point of breaking news and real good opinion pieces is one thing. But I think we need to think about where the money comes from. Thinking about subscription models and what not is fine (even though they won’t work), but as Thomas Crampton brought up, mainstream media has enjoyed the monopoly on reaching people and advertising for a very long time, and companies are just beginning to realise that they can bypass the “middleman” entirely, thus crippling the revenue model. Will it provide them the reach? Probably not. Will it provide them the influence? Barack Obama’s YouTube channel suggests yes (yes yes I know it worked in tandem with traditional media).

As a closing comment: someone said that old habits die hard, referring to the staying power of traditional media and being used to opening that Sunday edition of the paper over a slow and leisurely breakfast. Here’s a thought: my “old” habits from the old world started changing by the time I was thirteen, and many were gone by the time I was seventeen. Radio, once a nightly listen for the dedication show,  is an afterthought, so are magazines. TV serves my purposes when I want it to, newspapers have flown out of the window, music exists in the form of mp3s, not cds. The only “old world” habit I maintain is the reading of books.

My point is this: as much as old habits die hard, to the new generation, new habits form at an alarming speed that the world has never seen before. When, if ever, has a generation been influenced so quickly and successively like from the transition to Friendster to Facebook? That’s not just the speed of platform change, but the speed of diffusion from half a world away. When and how fast did we take up texting to replace calling? The speed of change is crazy. Geographical boundaries barely exist anymore. And I would ask people who believe in the “old habits” to take a look at their children, their nephews, their nieces or anyone under 20 and tell me how many of their “old habits” they see replicated in them, and ask how different the world will be in five or ten years, and if now’s the time to think about that change, or cling on to “old habits”.

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How Much Is That Banner Ad In The Window?

Tuesday, June 16th, 2009

I chanced upon the banner ad rates offered by one Singaporean company awhile back, and saw that a prominently placed banner ad goes for S$4,000 a week, with the promise of “reaching” millions of “eyeballs”.

In Seth Godin’s book “Purple Cow”, there’s a chapter called “law of large numbers” where he bought 300 million banner ads for US$600. That’s more than one banner impression for one person in the United States. The result? He made a loss. Selling $500 of merchandise in total. He doesn’t specify what merchandise, but does it matter?

To break even on S$4,000 a week, you need to sell:

  • 8 16gig iPhone 3Gs (about one a day)
  • 10 Amazon Kindles (about 1.5 a day)
  • 50 Xbox games (about seven a day)
  • 400 movie tickets (just over 50 a day)

and that’s on revenue, not profit.

The flipside of this is of course, there’s no guarantee that some people of the 300 million saw the ad, and bought the merchandise some time later, thus making it untrackable. But isn’t it the same as any TV, radio or print ad you buy anyway?

Do you think you’re going to do better than Seth Godin’s case study? I’m going to leave the parallel of “reach” and “eyeballs” to traditional media to you.

If you’re in marketing, you’ve probably heard of the old adage “I know half of my marketing doesn’t work, I just don’t know which half”. The good news is if you’re employing banner ads in your marketing “arsenal”, they automatically fall into the half that isn’t working.

But that’s just one case study, if you’re buying banner ads, I’d like to ask you: How have they worked for you?

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TV: Still Most Powerful?

Thursday, February 7th, 2008

I’m at a relative’s place for Chinese New Year, and the TV is on, and I see this station id going something along the lines of “Still the most powerful, TV”, and later on during another commercial, they’re advertising how cheap it is to get a TVC on the network.

Given that internet spending is going to surpass radio, and some projections have it outspending print by 2010, how long can TV be safe? And how delusional are these people to put that on their network?

I think the fact that they have to use their own ad time to put ads for themselves says a lot. I’m going to label this as desperation, how about you?

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