OMMA - Let it Begin

Posted by doug
September 24, 2007

OMMA

Attending for the first time the Online Media, Marketing, and Advertising Conference and Expo at the Hilton Hotel in NYC . When we arrived last night at the hotel, our cab was searched before we could be let out of the car, which was a bit unusual. I learned today that the President of Iran was in town speaking in the exact conference room I am in now. I guess he was here to address to the United Nations and I am sure it went over well.

Geoff Ramsey , CEO of eMarketer was the opening speaker who blazed through 60 slides in 20 minutes claiming he was hopped up on three Starbucks to allow him to speak extremely hyper fast. The first book he mentioned was the book All Marketers are Liars - Seth Godin and how the trust factor by consumers in dwindling fast. Many of the attendees at the show are from traditional media and advertising firms and the title of the conference is a bit amusing “worlds collide, all hell breaks loose.” So this show may be a help conference to push traditional marketers to wake to the world of new media.

Ramsey mentioned quotes from Jack Myers at MediaVillage.com and used some interesting wonky phrases including;

Here are some other highlights from the presentation. A persistent theme of his presentation was the declining growth of traditional media including a -2.4% growth with newspapers. Online media spending will surpass radio in 2007. Online advertising will grow 32.7% since 65% of all US households have broadband content.
With regard to online video, 47.2 million are watching online video weekly compared to 262 million who watch TV. Average online users watch 3 hours of video per month.

Google just launched Adsense to Mobile last week although 90% of consumers are not interested in mobile advertising according to Forrester.

With regard to UGC, the stuff consumers create is terrifying to ad agencies. 37% of companies plan to use social networks as marketing. Karsten Weide at IDC was quoted and the keys to user generated spaces include:

It is going to be one big dynamic learning experience about consumers. Jim Stengel at P&G is big on how transparency = trust . Negative comments are positive and learn and test are purpose of online communities.

Big challenges of Online Marketing:

  1. Fragmentation
  2. Clutter
  3. Eroding trust - emphasize listing over loud speaking
  4. Consumer in control - seek to embed your brand in conversation

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