Last week, the annual summer Social Media Insider Summit took place in beautiful Lake Tahoe. As the Title Sponsor of the Summit, Extole gave a presentation on “Driving Real Results from the Next Generation of Social Marketing.” The presentation acknowledged the growing power of consumers and how they can positively impact brands social media strategies and ROI as well as how platforms, like Facebook, are evolving with the consumer in mind.
As always, Facebook was a hot topic with Sponsored Stories and owned, earned and paid media taking the spotlight. Both debaters on the “Where Facebook Goes From Here” panel agreed that Sponsored Stories (Facebook’s new ad unit) are the future of Facebook monetization and online advertising in general.
The topic of Sponsored Stories gave way to an insightful discussion around converging owned, earned and paid media. Marketers must now think about how they can leverage all media types in their marketing campaigns. For example, a brand can launch a Twitter (owned) campaign and ask consumers to share stories (earned media) and then used that earned media in their billboard advertising, commercials, etc. The combining of media types will urge marketers to “think outside the box” and find creative and innovative ways to combine all three media types.
Overall, the Social Media Insider Summit sparked great dialogue surrounding the future of social marketing including Facebook’s Open Graph and Sponsored Stories, social ROI and the convergence of media types. Most importantly though, was the over-arching theme of how imperative it is for marketers to tap into the power of their consumers, as their consumers have more influence then ever before. Like Jeff Ragovin of Buddy Media said, “It’s not longer just about engagement. It’s about how you move them (consumers) down the funnel and understand what they’re worth.”
To learn more about how to tap into the power of consumers and drive social ROI, drop us a line HERE.