Social Media Ad Spending Lags
The usual brilliant insight we look for/expect from Razorfish as it pertains to the Digital world [and now Social Media, too], no doubt. In reality, these social media firms brought much of this onto themselves. Many created great User experiences, while giving little [if any] thought early on to the Ad experience…while ironically enough, having to answer to VCs [who might have an interest in that, one would think.]
From there, much of the revenue was literally left to be had by others, in what are now huge players, like Zynga. Some app developers, like Slide and/or RockYou! have also monetized, too. But both of them, like non-residing firms such as an AppsSavvy, Buddy Media or Vitrue, have to essentially create new & better ‘ideations’ for every client/agency/campaign, in a never-ending ‘upping the ante’…which is nearly impossible to continue, and hugely expensive. Does Broadcast do that last part? Hardly. You want a 30-second Spot? You buy it. Sure, it’s more than that with Sponsorships, etc, and yes, it’s far more mature, but its also much more standardized & easy to access.
Merely slapping up banners that are not part of an “integrated program” is not a great solution, and is not yielding the social media firms a lot of revenue, as is pointed out. But until a considered, created Ad environment comes about, the social media firms will be where they are, with all the world as an audience, and clients/agencies wondering how to access it.
~ by MindOnMediaSales on May 26, 2010.