Sunday, February 21st, 2010
I’ve been on an intentional hiatus the last week or so (yes, it was also Chinese New Year here in Singapore so it’s been busy with public holidays and visiting and all that), but also to take some down time to think.
Something that I keep thinking about (partially influenced by Seth Godin’s Linchpin) is wondering who matters.
Why do we chase digital business from the huge corporations who say they want digital but time and time again the end result is “go peddle your social media stuff somewhere else” and buy a TV ad.
Because the big organisations look better on a company portfolio than the mom and pop shop who really does want to embrace digital and probably will pay you less?
Why do we spend hours on decks and creative for an audience that isn’t receptive?
Aren’t they the equivalent of your whining customers that we always tell ourselves (or our clients) to sacrifice and go after those who love you, your business, your service instead?
So who matters?
[image credit: LINE architecture]
Tags: ad, chinese new year, company portfolio, digital media, embrace digital, linchpin, public holidays, seth godin, Singapore, social media, tv, who matters
Posted in social media business | No Comments »
Friday, June 26th, 2009
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”.
Tags: advertising, barack obama, Books, credibility, dedication show, digital influence, facebook, friendster, generation y, geographical boundaries, journalism's from mars, magazines, monetisation, monetization, mp3s, music, newspapers, ogilvy, old habits die hard, old world, open room, radio, reliability, social media's from venus, staying power, subscription models, thomas crampton, trusting bloggers, tv, youtube
Posted in Blogs, Events, Gen Y, Media, Singapore, mainstream media, social media, twitter | 10 Comments »
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?
Tags: amazon kindles, banner ad, eyeballs, iphone 3G, law of large numbers, millions, movie tickets, online marketing, print, profit, purple cow, radio, reach, revenue, seth godin, tv, xbox
Posted in Marketing, Poor Practices | 3 Comments »
Sunday, May 25th, 2008
Yesterday was SMB:Singapore 2, which was great because we had the unveiling of the first version of the logo (which was printed out on all the name tags), just under 60 people appearing, pretty good food and what I thought was a nice cozy venue at Cafe Domus.
For me, it was really good meeting people like Siok Siok and Krisandro, Rony Thomas in person, and finally getting to meet Preetam, as well as interesting conversations with Su Min, Jayden, Hun Boon and many more. I also had a kick ass time being interviewed for Geek Goddess TV together with Sheylara and Derrick. (Mic, please make me look good in post!)
As always, great meeting the (by now) usual crew of Nadia, Tech 65 guys, Yuhui, Ridz, Hisham, Supriya, Brian, Daphne, Nicole, Coleman, Claudia, Peter, Miccheng, Bernard and Shannon. I’m sure I’ve missed out people and I apologise! This crazy linking is hard work, but I like generating linklove.
If you came for SMB and we didn’t manage to connect, do drop me a comment or look for me on Twitter (@uniquefrequency) or on Facebook, and we can start a whole new conversation there! Just drop me a note so I know you’re not some random person looking to add me.
You might notice this post says “The Success Part”, more on “The Failure” part later today. Also, I’ll be putting up a post consolidating all the media coverage of SMB2, so if you have a blog post, pictures, video, audio, anything, drop me a comment so I can link you!.
And now, on to the pictures (mouseover for captions):
Tags: cafe domus, geek goddess, podfire network, sherms, singapore social media scene, singpore bloggers, smb singapore, social media breakfast logo, social media breakfast singapore, tv, twitter, uniquefrequency
Posted in Blogs, Fun, Singapore, collaboration, social media, social media breakfast | 15 Comments »
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?
Tags: ads, advertisements, chinese new year, cny, internet, internet spending, Media, powerful, print, radio, television, tv, tvc
Posted in Media | 1 Comment »
