Lunch was "butlered" no less.
This FOOA conference really has a great line up of speakers. There's almost too much to digest, but I've been busy making mind maps for each of the speakers to help me remember the salient points. And my MacBook Pro has been performing flawlessly.
Chas Edwards of Federated Media kicked off the afternoon focused on the emergence of conversational media. For businesses, the key is finding out what your customers are discussing and then try to enter into that conversation. He noted that Business Week says its blogs are now more influential than its magazine.
Ted Murphy of PayPerPost talked about connecting advertisers to bloggers. I'm not too big on the idea of bloggers selling ads and I think the number of organizations who can benefit from blog advertising are limited. But, PayPerPost is a good resource for those interested.
Instead of the old media monopolies we now have "swarms" of people clustered around certain online destinations of interest. Blogger support was one of the key marketing thrusts Ryan Carson used to promote the FOOA conference.
Jim Coudal from The Deck was a good example of niche marketing. Jim is a big believer in measuring cost per influence rather than cost per click or cost per impression. His model is primarily for brand development as opposed to direct response. His online ad network has 17 slots each month for advertisers. The slots are sold for a fixed price, all ads are 120x90, and only one single ad is displayed on any given page at one time. An interesting guy with an equally interesting business model.
Pete Affeld from Numeric Analytics was the last speaker on Thursday. Pete talked about metrics and measurement. I wish he had been given a bit more time, but he focused on the convergence of online advertising knowledge, statistical methods, and applied economic theory. He showed us how optimization cannot be found through averages, but only in terms of increments. Another key point was the emergence of lifetime value of a customer as a key measure in determining site performance.
The day ended with a panel discussion on the future of online advertising - Erick Schonfeld (Business 2.0), Jim Larrison (Adify), Chan Suh (Agency.com) Alex Blum (Kick Apps) Hilmi Ozguc (Maven Networks) .
I considered hiking back to the hotel and skipping this but I'm really
glad I didn't. When asked what an Internet ad would be like in 2010,
the panel had these observations -
• Video that is interactive
• Long form as well as short
• Ad content matched to viewer profile
• Provides info based on what the consumer wants, not what the company is selling.