Sourced from Adweek:
“Social media specialist Vitrue, which aids brands in building their customer bases on social networks, tried to put a media value on such communities.
The firm has determined that, on average, a fan base of 1 million translates into at least $3.6 million in equivalent media over a year.”
This translates to the fact that the more followers and/or fans that you have on social networking sites, the more leverage or value one possesses. Which in turn suggests that advertisers should pay more for an ad on a profile page with 1 million followers, than a profile page that has 5,000 followers – creating an advertising economy of scale based on influence. Seems like we are in high school all over again, but this “Influenced Economy” may be a viable way for social media companies to actually start making money, and have a real business model.
An example of when an advertising concept is not thoroughly thought through – I get bringing the classic Looney Toons carton characters, but how do you have the Chicken in the cartoon discussing about eating other chickens? Kentucky Fried Chicken (KFC) has been known to create bad TV ads, and this is just another one to that long list.
New Adidas campaign for spring 2010 feat. Whitney Prort, David Beckam, Snoop Dogg, amongst others; again like last year’s campaign, Adidas is bringing that old school, funk style to their brand. Good commercial.
These NBA playoffs have been very entertaining; with Kobe, LeBron, Carmelo, Wade, Howard – they have really shown why the NBA is the jealous pretty girl that the NHL envies. Even though the NBA and advertisers alike would have preferred to see a Kobe vs LeBron matchup, Dwight Howard and the Magic have provided some exciting games – with most games being decided in overtime by a handful of points. So why not give some light to the underdogs? Hopefully, they will find their way to the basket and stretch this series to 7 and beat Kobe (you can tell I am biased … somewhat).
Starting in January in Japan, an advertising firm will place an interesting piece of technology above an advertisement in a public place. NTT Communications will use a system to track the effectiveness of ads; a representative said that the system will “… automatically measure the effectiveness of the advertisements we can put a camera and PC nearby, and by using the image from the camera we can estimate how many people are looking at the monitor.” With facial recognition technology, the system can detect how many people are actually engaged with the advertisement; which is an interesting concept because up to now, advertising rates were based on estimated viewership/traffic in a certain area, this technology could easily change how advertising rates are structured because now, advertising agencies can actually measure the effectiveness of an ad, and can now give accurate number on how many people actually were engaged with a specific advertisement. The privacy groups will cry foul saying that this is another example of ‘Big Brother’ watching over us, which they may have a valid point, but as long as the technology is only being used to detect faces, and not being transferred to government agencies for other uses, then I say that the technology should flourish as it gies a whole new dynamic to measuring effectiveness of advertisements.