The Media Logic Team
06.21.10
Over the past 18 months, businesses across industries have watched social media swiftly migrate to the center of marketing and business strategy. Organizations large and small are not only embracing social media, but are discovering innovative ways to use social media as a business tool, by moving “the conversation” to the center of their decision-making processes. However, businesses in the financial services sector have been slower than their consumer brand cousins to embrace social media.
Media Logic’s latest whitepaper, Fear not! How financial service institutions can put the ‘Big 6’ social marketing strategies to work, suggests strategies, platforms, and control protocols for how financial service institutions and other regulated businesses can begin to step into social marketing without fear.
Togetherville is a new online social network aimed at kids aged 6 to 10. The basic premise is that kids, with their parents’ help, can set up their own online neighborhood with friends and relatives and develop “a whole new set of skills to become responsible digital citizens.” Kids can post their own status from a pre-approved list created by the makers of Togetherville, buy digital gifts for their friends at the kid-friendly price of 25-50 cents, and use various online apps to create art, play games, watch videos, and send messages to their friends. Mom and dad can see everything that happens, and as members of their child’s community even have the dubious pleasure of tapping into the Hanna Montana and Justin Beiber videos, movie clips and other sponsored video content found throughout the site.
It was the buzz in the agency last week, as various people weighed in on its value to parents, kids and marketers (eek!).
The big question was this: Do kids really need a training ground for social networking?
On March 25, 2010, I delivered what I thought was a reasonably sensitive presentation on the current state and possible future of the regional newspaper, and the current utility of newspaper advertising, to the New York Capital Region Chapter of the American Marketing Association (NYCRAMA). The audience – which I found upon my arrival included 20 or so employees of the Albany Times Union, a Hearst product and our region’s regional newspaper – did not entirely enjoy my brusque prognosis, delivered (at least to their ears) with all the charm of Dr. House.
Many challenged my assumptions and my data. Several approached me afterwards to suggest I didn’t know what was going on, or of all the efforts underway within the paper – blogging, youth outreach, new community focus, alternate revenue ideas (like charging for the weekly TV listing), online advertising efforts, etc. – that were working to slow the revenue slide and allow the “paper” to transition to a new era.
Perhaps.
Declining circulation… Shrinking ad revenue… Rapidly increasing free online news sources… Are these the harbingers of death for newspapers? Many media speculators would say “yes” – newspapers are dying; while others argue that they’re evolving for the digital age. And what is the fate of newspaper advertising? These are just some of the questions that will be discussed at an upcoming breakfast roundtable hosted by the New York Capital Region Chapter of the American Marketing Association entitled, “Are Newspapers Dead? The Future of Print in a Digital Age.”
The event featuring Media Logic’s Executive VP/Executive CD Ronald Ladouceur as a guest speaker will take place on Thursday, March 25 and is open to both AMA members and nonmembers. Registration is available online.
What do you think? We welcome your thoughts and comments.
In this installment of Conversatiated, Media Logic Account Supervisors Josh and Fred discuss Edelman’s 2010 Trust Barometer and its implications on gauging consumer trust and assessing the value of P2P advice in 2010 and beyond.
Moms online are a growing force and dominant presence… Take a look at the surprising facts behind the most influential buying group in America.
