OMMA Behavioral: “Are You In or Are You Out?: Targeting the Social Network”
February 11th, 2008 | by admin | Moderator: Rob Graham, VP of Creative and Technical Training, The Laredo Group
Panelist: Molly Hop, Group Media Director, Critical Mass;
Jeff Freedman, Director of Business Development, MillionsofUs
Davis Brewer, Lead Digital Strategist, Spark Communications
Arnie Gullov-Singh, VP, Product Management, MySpace/Fox Interactive Media
Basem Nayfeh, Chief Technology Officer, Revenue Science
Overall, the panel agreed that this is a tremendously exciting time in advertising. As users are adopting social media, we increasingly have the ability to make advertising both effective and more efficient. through increased relevance. Social networks gives us a massive platform for self-expression. When consumers raise their hands and indicate their interest, it creates very powerful opportunities for targeting.
There seems to be a clear opportunity to utilize outside data on top of existing user submitted information. It was mentioned in the previous session with regard to the work that [x+1] is doing, and continues to be raised in most conversations on the stage and in the room. Rather than just targeting on what someone has just told you, it has been discussed that actual behavioral data acquired from other places on the web should be utilized on top of existing user-submitted information. The reverse of that can also be true - now can we take that profile data and actual conversions and analyze the efficacy of targeting methods - these feedback loops (if in place) will drive advertisers, publishers and service providers closer together.
There was a consensus that increased relevance of advertising would reduce some of the current privacy concerns. People are sharing a significant amount of data about themselves, especially for those that are using social media.
Let’s assume that BT, appropriately integrated with offline behavior and online user submitted profile data, will drive up CPMs, increase CTR, and reduce advertisers CPA.
