By Steve Goldner | @SocialSteve | Senior Director, Social Media Marketing
Editor’s note: The following is an excerpt of an op-ed that was originally published in Advertising Age.
In 1995, Gartner introduced its renowned hype cycle to show different stages of introduction of new technologies. Gartner’s hype cycle provides a research-backed antidote to what is often a searing level of hype surrounding many new technology and media products. The value for marketers is even clearer: The hype cycles serve as an objective guidebook for measuring the success (and inevitable downfall) of new-product launches.
One market that has yet to receive the hype cycle treatment is social media. What might that hype cycle look like if it examined one of the fastest growing marketing sectors in history?
It’s time to examine what I call the “Social Media Hype Cycle.” Doing so will help brands and marketers better understand the seesaw pattern of how social networks and platforms rise and fall in popularity and usage and how that affects companies’ advertising spend and online engagement strategies.
The Gartner Hype Cycle: Cliff Notes Version
Gartner has applied its unique hype-cycle research model to in more than 100 industries, technologies and services, including advertising, social software and what it calls “Web and User Interaction Technologies.”
The Gartner Hype Cycle examines five stages of a technology, starting with a “technology trigger” through to “peak of inflated expectations,” “trough of disillusionment,” “slope of enlightenment” and “plateau of productivity.” The degree of visibility and interest follow a curve as shown below.
According to Gartner’s Hype Cycle theory, every new technology experiences a period of continuous hype growth, followed immediately by a strong downward trend in the expectation and viability of that particular technology sector. Finally, there is a gradual increase toward productivity.
Read the full op-ed in Advertising Age.
Source: The Express Tribune
By Michael Velasco | @MichaelVelasco | Managing Director, Digital, Ryan Partnership
“Facebook has failed!” screamed the media, as Facebook’s stock price continued to tumble off its IPO price. Indeed, the headlines have been bleak. But Facebook is a microcosm of a macro phenomenon afflicting all of social media.
Facebook, the once great social network, is in danger from itself, and the promises either it made, or expectations heaped upon it by its users. It can either move on and evolve into something greater than itself, or suffer the fate of other great Internet companies before it, (GeoCities, Yahoo!, Netscape, MySpace … the list goes on and on), possibly dragging the rest of the social media industry down with it.
And while I could chalk up the recent history of the Internet’s failed companies as a source of endless cautionary tales, two particularly valuable and relevant examples come to mind: Aol and Yahoo!
Both were pioneers and innovators in their time and both are examples of what not to do when it comes to running an Internet business. What they lacked is the ability to move beyond the business model that made them great, and evolve into one that provided sustained growth and success.
Facebook finds itself in a similarly troubling situation — it must evolve or die. (more…)
As one of the leading integrated digital media agencies, MediaWhiz and its executives are often quoted in the media about emerging trends and issues in the digital media and marketing industries. Recently, Steve Goldner, senior director of social media marketing at MediaWhiz and its sister agency, Ryan Partnership, was quoted in an eMarketer report, “Facebook Marketing: Reaching Consumers in a Changing Environment.” The report analyzes how Facebook is altering brand marketing in the Digital Age.
Goldner’s comments focus on what Facebook should do to help marketers ensure their brands stand out on Facebook and receive more detailed information on the metrics of their Facebook marketing spend. A recap of those comments can be found below. eMarketer subscribers can view the full report here.
Comments of Steve Goldner, Senior Director of Social Media Marketing, MediaWhiz and Ryan Partnership
On whether brands that market on Facebook stand out from the competition …
“Marketers, advertisers and clients want something that stands out. The reality is it still is difficult to get a brand to stand out on Facebook.”
On how well Facebook listens to the concerns of marketers …
“The challenge is to get Facebook to listen to marketers. You have no chance of talking to an [Facebook] account rep unless you’re at a certain level of spend.” (more…)
It’s the most wonderful time of the year! Why? Because Social Media Week is almost here! This year, MediaWhiz is partnering with its sister agency, Ryan Partnership, to host a Social Media Week panel in Chicago.
Titled, “What the ‘Social Media Hype Cycle’ Means for Brands,” MediaWhiz and Ryan Partnership’s Social Media Week session will explore how the social media hype cycle is impacting social media marketing, social commerce and social advertising. Panelists will use the hype cycle model to demystify social media marketing and explain what is needed to deliver measurable value to brands.
Following this lively session, you’ll walk away with a better understanding of how the hype surrounding social media impacts brand marketing and what you can do to generate measurable value from your social media marketing spend.
What: MediaWhiz and Ryan Partnership Present … What the ‘Social Media Hype Cycle’ Means for Brands
Steve Goldner (@SocialSteve), Senior Director, Social Media Marketing, MediaWhiz and Ryan Partnership
Michael Velasco (@MichaelVelasco), Managing Director, Digital, Ryan Partnership
Keith Trivitt (@KeithTrivitt), Director, Marketing and Communications, MediaWhiz
E.J. Schultz (@ejschultz3), Reporter, Advertising Age
Autumn McReynolds (@AutumnMcRey), Content Strategist and Community Manager, TalentMinded
When: 8–9:15 a.m. CDT, Friday, Sept. 28, 2012
Where: Tribune Tower — Huron Room
435 N. Michigan Avenue
Chicago, IL 60611
If you have any questions, please contact Keith Trivitt, director of marketing and communications, MediaWhiz.
By Adam Riff | @AdamRiff | SVP, Digital Strategy
If you’re a marketing or advertising professional, then lately you’ve probably been running ads on Facebook or have heard the phrase “paid social” or “Facebook ads.”
That’s because according to eMarketer, social media is the fastest growing digital media channel. As impressive as that is, it doesn’t tell the whole story. First, let’s consider some statistics:
- “More than half of 25-to-34-year-old social network users say they can’t live without their social media sites” — eMarketer 2011.
- “9 out of 10 Internet users visited a social networking site each month in 2010” — comScore, February 2011.
- “74% of consumers are influenced to buy AFTER soliciting feedback from social media ” — comScore, February 2011.
- “67% of Twitter users who become followers of a brand are more likely to buy from that brand” — comScore, February 2011.
- “60% of Facebook users who become fans of a brand recommend that brand to a friend ” — comScore, February 2011.
With the demand for social media continuing to skyrocket, it’s critical that we, as advertising professionals, hone our craft to leverage this channel on behalf of our clients.
To help marketers create successful Facebook ad campaigns, MediaWhiz has developed the following list of “secrets.” (more…)