Don’t expect a high click-through rate on ads on social networks, says Chief Executive, Pinstorm as he interacts with 4Ps B&M
Do you feel that social networks are better for branding, particularly if we take ROI into account?
Social networks are not useful for ROI-based advertising and
relatively speaking, they are better for brand or awareness advertising. Unlike search, where people go to a site like Google or Yahoo! to click away and go somewhere else, social networks are immersive and users tend not to click on ads here. So don’t expect a high click-through rate on ads on social networks. Social networks can hence be better used for general demographically or behaviourally targeted brand messaging.
What pros and cons do you see for advertisers on social networks?
Social networks are a double-edged sword for advertisers. On the one hand, they offer large numbers of prime young audiences with high purchasing power who spend a lot of time online. While typical viewership of a TV programme might be in the 10-15 minute range, the successful networks are used for 3 to 5 times as much. And the audience is more urban, more influential and more amenable to new brand messaging. On the other hand, the very popularity of social networks can be the problem – people are going there not to see ads or click on them – or even to get entertained, like they go to a TV channel. They are going there to connect with friends, acquaintances, lovers and the like. So, they’re not exactly in a mood to welcome brand messaging and you run the risk of somewhat becoming wallpaper on Orkut or Facebook. But then again, most advertising on television has a similar fate.
What kind of brand is benefited the most on social networks?
Social networks will be happy hunting grounds for brands which have a core focus around the urban young between 18 and 35 years, with high disposable incomes, and who are trend-setters by nature. In addition there are also vertically specialised social networks like LinkedIn, Xing and such. We use these for B2B advertising, where advertisers like large consultancies, IT/ITES companies, et al can be run very well.
Do you think the only factor attracting online advertising in this recessionary time is the cost?
Well in these recessionary times the choice that marketers are making is between brand awareness and response generation advertising. And the former is losing ground to the latter. So the big gainer is actually response - generation advertising online – publishers like Google and others who offer pay-per-click or pay-for-result solutions. The media losing business across the board is awareness media. I can only imagine that social networks are losing out as much as television channels are. After this down phase is over, I predict a strong growth in online awareness ad options, including social networks.
What are the factors that advertisers should keep in mind while deciding on social network?
Most importantly, who are you talking to? Depending on which social networks you choose, you can target by age, sex, location – or even by interest, keyword or forum. So you have both demographic and behavioural axes to make a media pick on. Use both. After this, realise that people aren’t coming there to click on your ads. Do not harbour hopes of high click through rates. Further, if you want to engage audiences, you have to try harder than just doing a flat banner ad. Try interactivity, humour, fun – remember you have to make it more compelling content than what your friends are saying to you online. And last, try, try and try again.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
Do you feel that social networks are better for branding, particularly if we take ROI into account?
Social networks are not useful for ROI-based advertising and
relatively speaking, they are better for brand or awareness advertising. Unlike search, where people go to a site like Google or Yahoo! to click away and go somewhere else, social networks are immersive and users tend not to click on ads here. So don’t expect a high click-through rate on ads on social networks. Social networks can hence be better used for general demographically or behaviourally targeted brand messaging.What pros and cons do you see for advertisers on social networks?
Social networks are a double-edged sword for advertisers. On the one hand, they offer large numbers of prime young audiences with high purchasing power who spend a lot of time online. While typical viewership of a TV programme might be in the 10-15 minute range, the successful networks are used for 3 to 5 times as much. And the audience is more urban, more influential and more amenable to new brand messaging. On the other hand, the very popularity of social networks can be the problem – people are going there not to see ads or click on them – or even to get entertained, like they go to a TV channel. They are going there to connect with friends, acquaintances, lovers and the like. So, they’re not exactly in a mood to welcome brand messaging and you run the risk of somewhat becoming wallpaper on Orkut or Facebook. But then again, most advertising on television has a similar fate.
What kind of brand is benefited the most on social networks?
Social networks will be happy hunting grounds for brands which have a core focus around the urban young between 18 and 35 years, with high disposable incomes, and who are trend-setters by nature. In addition there are also vertically specialised social networks like LinkedIn, Xing and such. We use these for B2B advertising, where advertisers like large consultancies, IT/ITES companies, et al can be run very well.
Do you think the only factor attracting online advertising in this recessionary time is the cost?
Well in these recessionary times the choice that marketers are making is between brand awareness and response generation advertising. And the former is losing ground to the latter. So the big gainer is actually response - generation advertising online – publishers like Google and others who offer pay-per-click or pay-for-result solutions. The media losing business across the board is awareness media. I can only imagine that social networks are losing out as much as television channels are. After this down phase is over, I predict a strong growth in online awareness ad options, including social networks.
What are the factors that advertisers should keep in mind while deciding on social network?
Most importantly, who are you talking to? Depending on which social networks you choose, you can target by age, sex, location – or even by interest, keyword or forum. So you have both demographic and behavioural axes to make a media pick on. Use both. After this, realise that people aren’t coming there to click on your ads. Do not harbour hopes of high click through rates. Further, if you want to engage audiences, you have to try harder than just doing a flat banner ad. Try interactivity, humour, fun – remember you have to make it more compelling content than what your friends are saying to you online. And last, try, try and try again.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
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media is more useful for brand building. He believes that unlike search advertising, where people go to a site like Google to click and go somewhere else, social networks are immersive and users tend not to click on ads here. So, while you may not expect a high click-through rate for banner ads on social networks, some like NIIT have found more effective ways to build their brand here. Preeti Technani, the virtual character created by NIIT on Orkut, answers daily queries related to careers and has been a huge success so far. But there are still many that are missing from the social networking buzz. Analysts blame it on the lack of education and evangelising. “Only a few understand the big picture,” laments Hegde, adding that the ‘hit now, score now’ syndrome – a throwback to the conventional advertising era – is prevalent among marketers. In contrast, “social media marketing is a slow but sure burner,” he says.
a stepping stone, it’s a mistake.” And the underlying message, it seems, has been well received by the Indian retailers!?? No doubt, the Indian organised retail has gained tremendous momentum in the last couple of years, (pegged to touch $450 billion by 2015 & be amongst the top 10 retail markets in the world, by McKinsey & Co.), but, in the transition they have also made several mistakes. All thanks to their efforts to outdo each other in the game of one-upmanship.
are now finding it difficult to get credit cards from banks. Banks are rejecting their credit card applications owing to the possibility of further lay-offs and job losses in these troubled sectors. Although the law prohibits banks from denying credit to anybody on the grounds of his profession, but banks have long maintained negative lists and denied credit cards to reporters, lawyers, chartered accountants and junior ranks of the security forces. With inclusion of these sectors, the list is just being extended.
energy behemoth General Electric (GE) – does something called a growth playbook every year with each of his businesses. In 2005, he called his new strategy of business growth Ecomagination – a strategy, which believed in investing in technologies to help customers win in a world with more regulation, more scarcity and higher energy costs. GE developed a range of environmentally conscious products that would lighten his company’s Goliath-like environmental footprint. At the launch, even as GE’s fleet of senior managers canoodled with the who’s who of Congress members and industry at a glittering cocktail party on Pennsylvania Avenue, Immelt magnanimously spelt out that environment and business were “no longer a zero-sum game.” As the glitterati nibbled organic canapés, Immelt uttered the now-proven words: “Things that are good for the environment are also good for business!”
Jhelum, thousands of Kashmiri Pundits set to flame their sacred threads when Shah Hamadan’s ‘message of Islam’ reverberated across the Valley in 14th century. Islam did not come to Kashmir riding on a horseback with a sword. Here, it came by Word. Down the centuries, when Kashmir is torn by centuries of foreign rule, the fallouts of the 'two nation theory' and then two decades of a violent conflict, the basic fabric of Islam in Kashmir has remained unchanged; barring those acts that go against the basic fabric of Islam.