I’ve been a bit slow to update this site lately, as my return to Federated Media, and preparation for the CM Summit and OpenCo NYC, have pretty much eaten up all my time lately. But I did want to repost a few things I have written elsewhere, starting with this article in Ad Age, written two weeks ago.
Titled Publishers, Ad-Tech Firms, Marketers Need to Connect, Build Trust (no, I didn’t write that headline, if I was in charge, it might have been “Hold Hands or Die Apart” – pageviews, ya know?), the article argues that our industry is not yet prepared for what the market is going to demand – solutions that integration adtech and brand marketing. Here’s a sampling:
Something troubling has jumped out at me. There’s an extraordinary asymmetry of information among these three important players in our industry, and a disturbing sense of distrust. Brand marketers don’t believe that ad-tech companies view brands as true partners. Ad-tech companies think brand marketers are paying attention to the wrong things. And publishers, with a few important exceptions, feel taken advantage of by everyone.
(image) Back in 2005 I whipped off a post with a title that has recently become relevant again – “Traffic of Good Intent.” That post keyed off a major issue in the burgeoning search industry – click fraud. In the early days of search, click fraud was a huge problem (that link is from 2002!). Pundits (like me) claimed that because everyone was getting paid from fraud, it was “something of a whistling-past-the-graveyard issue for the entire (industry).” Cnet ran a story in 2004 identifying bad actors who created fake content, then ran robots over AdSense links on those pages. It blamed the open nature of the Web as fueling the fraudsters, and it noted that Google could not comment, because it was in its quiet period before an IPO.
But once public, Google did respond, suing bad actors and posting extensiveexplanations of its anti-fraud practices. Conversely, a major fraud-based class action lawsuit was filed against all of the major search engines. Subsequent research suggested that as much as 30% of commercial clicks were fraudulent – remember, this was after Google had gone public, and after the issue had been well-documented and endlessly discussed in the business and industry press. The major players in search finally banded together to fight the problem – understanding full well that without a united front and open communication, trust would never be established.
Think about that little history lesson – a massive, emerging new industry, one that was upending the entire marketing ecosystem, was operating under a constant cloud of “fraud” which may have been poisoning nearly a third of the revenues in the space. Yet billions in revenue and hundreds of billions in market value was still created. And after several years of lawsuits, negative press, and lord-knows-how-much-fraud, the clickfraud story has pretty much been forgotten.
A year or so ago a friend and colleague approached me with a crazy idea – what if we tried to re-invent the tech conference, expanding it to become a celebration of all innovative companies that are inspired by the values of the open Internet? And further, what if it wasn’t a conference at all, in the normal sense, but more of a festival, a combination of an artist’s open studio, a music festival, and a business event?
That’s what became OpenCo, an “inside out” conference where instead of sitting in a stuffy hotel ballroom, you go our into the modern working city, to see founders talk about their companies in their native environment.
I won’t beat around the bush. I want you all to come. I’ve lowered the price, because I heard from many of you last year that the ticket was too high (it sold out anyway). But this year, the conversation is too rich for anyone to cry poor over. Come and join us.
(image) Last week I was in Salt Lake City for the Adobe Summit, on a stage the size of a parking lot. After some opening remarks about how the world is increasingly lit with data, I brought out Adam Bain, President of Global Revenue for Twitter. (He Vined it, natch.) Five thousand or so folks in the Internet marketing and media business were in attendance, behind us was a 7,000 square foot HD screen (I kid you not). I’ve been in front of a few big crowds, but this one was enormous. You could have parked a few 787s in the space.
My point is this: Bain knew he was in front of a lot of people, including nearly 200 journalists. As we worked our way through any number of predictable but important topics – Twitter’s revenue (growing but no numbers), the acquisition of BlueFin (TV analytics and more), etc. – I asked Bain to distinguish between Twitter and its competitive set. This was a relatively politic way of asking the inevitable “What about Facebook” question. It was then that Bain uttered what I thought was the most interesting comment of the day: “[With Twitter,] there’s no algorithm between you and your feed.”
Starting a business is a journey, as any founder will tell you. When I started Federated Media Publishing almost eight years ago, I did my best to collect all the lessons learned from Wired, The Industry Standard, and Web 2 Summit, and apply them to my new venture. One of those lessons was that it’s OK to step away when the time is right. Several years ago, I did just that, becoming an “active Chairman” at FMP and handing the operational reigns over to an accomplished executive, Deanna Brown.
Since making that decision, FMP has grown dramatically, but it’s also had its challenges. Last year, for example, we made the difficult but important decision to rethink the company so as to lean into our two most promising lines of business – content marketing (which we lay claim to inventing as “conversational marketing” some seven years ago) and programmatic marketing (which we invested in heavily last year, after acquiring a very fast growing business in Lijit Networks in Fall of 2011). It meant stepping back from something we had been doing for some time – directly selling standard display banners – but it proved to be the right choice. FMP is having a great first half of 2013, and I couldn’t be more excited about our roadmap and potential for the rest of the year and beyond.
The funny thing is, even as I became “just the Chairman” at FMP over the past two years, I never stopped thinking about the company. It woke me up nearly every night, tugging at my sleeve, asking me questions, demanding my best thinking. Deanna and I would meet every week to talk strategy, review numbers, or just plain chew the fat. Running a company with hundreds of employees, top notch investors, and a big top line revenue number is damn hard, and Deanna not only ran the place, she made it hum. I am in her debt.
If you’re a fan of this site, you’re also probably a fan of RSS – a once-ascendant technology that has been on most everyone’s deathwatch for five or so years. According to Google’s (almost totally outdated) Feedburner service, nearly 450,000 people subscribe to this blog via RSS – although the number of you who actually read my posts is far smaller (according to Feedburner statistics, which I’ve never fully understood).
(image AppleInsider) Back in April of last year, I pondered Pebble, the then-wildly successful darling of Kickstarter fame. Pebble is a wristwatch device that connects to iPhones and displays various smart things. In the piece, Does the Pebble Cause a Ripple In Apple’s Waters?, I asked whether Apple would allow such third-party hardware to play in their backyard. It struck me Apple’s entire business was about hardware. Pebble, I figured, was in for a tough road. No wonder it went to Kickstarter, I mused. VCs would never back something so clearly in Apple’s target zone. From the post:
If you watch the video explaining Pebble, it become pretty clear that the watch is, in essence, a new form factor for the iPhone. It’s smaller, it’s more use-case defined, but that’s what it is: A smaller mirror of your iPhone, strapped to you wrist. Pebble uses bluetooth connectivity to access the iPhone’s native capabilities, and then displays data, apps, and services on its high-resolution e-paper screen. It even has its own “app store” and (upcoming) SDK/API so people can write native apps to the device.
In short, Pebble is an iPhone for your wrist. And Apple doesn’t own it.
(image Wired) Way back in the day when I was making magazines, I was buried in print. I subscribed to at least twenty periodicals, easily twice that many came my way without my asking. It made for a huge pile of printed material on the end of my desk (stuff I really should read), and it creeped into the horizontal spaces behind me (stuff I think I should read, in case I get the time), or on my shelves (stuff I can’t throw out yet), and the damn things even spilled onto my floor (stuff I probably will never read, but feel too guilty to toss out).
I dubbed this mountain of print The Guilt Pile. Every so often, usually when it was time to move offices, I’d take inventory of the pile, and toss most of it. It always felt so good – a fresh start, a new day, this time, I promise, I’ll not let that pile accumulate again!
Then digital took over my print life, and the pile vanished.
(image) I know that when I do write here, I tend to go on, and on – and those of you who read me seem to be OK with that. But sometimes the best posts are short and clear.
That was my thought when I read Journalists Need Advertising 101 by Brian Morrissey, writing in Digiday last week. In fewer than 500 words, Morrissey issues a wake up call to those in journalism who believe in the old school notion of a Chinese wall between editorial and advertising:
What’s crazy is journalists seems almost proudly ignorant of the business of advertising. …it’s time journalists take a real interest in how advertising works. I’d go even further. It’s time they get involved in making it. Hope is not a strategy, as they say, and it’s better to deal with the world you live in rather than the world you wish you lived in.