Random comments: Networks are irrelevant.
People are their own networks
no one cares if it’s on fox
if it’s on the web it’s everywhere and people discover things through what their friends are sending them
Philip Kaplin (Pud): “There is a 50 to 100 times difference in CPM (cost per thousand) between advertising on ESPN than advertising on joes super football blog” (great quote)
Ze Frank: huge problem when marketing people use “interactive” to include massive multiplayer games and setting up a messageboard
Ze: Greatest source of consumer generated content is classified ads and people have been doing it for years
Ze: Simple interactions around your product
Ze: Doing innovative stuff like setting up in secondLife, don’t underestimate the value of stories about stories
Q: This conversation about social media seems very optimistic, what is the potential darkside
Ze: Optimism and pessimism shouldn’t enter this conversation, lets talk about reality. If you wake up in the morning and think about what might happen in your day you may just stay in bed.
Pud: the biggest risk in social media is if your product sucks, it will get out
Q: Why should companies get involved in social media now, is there a risk to waiting.
Pud: Media companies have to innovate or disappear. Imagine Bill Gates waking up one morning after dominating the operating system for 20 years have to start competing against free email, online spreadsheets etc. They’re now a media company, making video game consoles and creating competing products to the ipod.
Q: What is the backlash against companies advertising their products with viral videos
Ze: viral doesn’t have to be secret or insidious, there is something wonderful in being self depreciating. The mentos video blog of their intern everyday was wonderful, quirky, and fun
Cool, Ze mentions Nokia