Mark Pincus addresses the audience and wows 'em with stats about his company's growth. Check it out!…
Mary has been giving an overview of the capital markets at Web 2 for seven years running, and this one, framed as lessons for CEOs of Internet companies, is a gem….
I found myself really engaged with Robin (CEO, Baidu) in this conversation, and I found his answers to some difficult questions – like doing business under the Chinese government's rule – to be refreshingly honest….
Given how silent this site has been over the past few weeks, it only seems right to share with you all the result of all my work. So I'll be posting videos of some of the highlights of the Web 2 Summit this past week, starting with our kick off…
One of these days, I’m going to figure out how to publish a real live playlist, one that links to real music, but for whatever reason, I never seem to be able to. If you guys have an easy way to do it, please let me know. I’ve tried a few services and they fail me, or, perhaps more aptly, I fail at them. Anyway, here’s a screengrab of the playlist I used at the Web 2 Summit this year. I always pick music that has inspired me during the preparation for the event, which takes a good ten months. Many of these bands I’ve seen live, and I hope you enjoy them as I have!
Postings have been and, through this week, will continue to be pretty light. The reason: I'm hosting, with my partner Tim O'Reilly, the seventh annual Web 2.0 Summit in San Francisco. There should be a lot of news here, starting with some of our own – for the first time…
There should be a lot of news here, starting with some of our own – for the first time ever the Web 2 Summit will be livestreamed, for free, to anyone. The stream can be embedded anywhere, so I’m adding it to this site below. If you can’t make it in person, well, now you can check it out on the web.
Enjoy! (Update – so far, nearly 75,000 folks have watched the livestream. That’s pretty cool – about one hundred times the number of folks in the room at any give time!)Read More
I met with Ev at Twitter headquarters yesterday, a prelude to our conversation in less than two weeks time at Web 2 (I also spoke with him last year). As usual he was in a thoughtful mood, though an unexpected visit from Biz added some levity to the proceedings. Williams…
Williams will be the final speaker at Web 2 this year, a program that begins with Eric Schmidt, continues with Robin Li, Ari Emmanuel, Shantanu Narayen, Jim Balsille, Mark Zuckerberg, Carol Bartz, and so many more.
So by the time we get to Ev’s session, something of a grand narrative should have unfolded, if I’ve done my job right. And it feels right to me to conclude with Twitter, because it is at once the growth story of the year, as well as the enigma – what, exactly, *is* Twitter, now that the service is pushing 200 million users and on the verge of a truly scaleable revenue model?Read More
(image) Recently I was watching television with my wife, a baseball game if memory serves, when an advertisement caught my eye. It was for a regional restaurant chain (not a national one like Jack in the Box). The ad was pretty standard fare – a call to action (go…
(image) Recently I was watching television with my wife, a baseball game if memory serves, when an advertisement caught my eye. It was for a regional restaurant chain (not a national one like Jack in the Box). The ad was pretty standard fare – a call to action (go now!) and a clear value proposition: the amazing amount of tasty-looking food you could have for a bargain price. I can’t find the ad online, but there’s no dearth of similar spots on television – in fact, their plentitude is why the commercial caught my attention in the first place.
In short, the ad offered pretty much all you could eat pasta, fries, and burgers for something like six bucks. Nearly all the food portrayed was processed, fried, and sourced from factory farms – necessarily so, as it’d simply not be possible to offer such a deal were it not for the economies of scale inherent in the US food economy. It’s simple capitalism at work: The chain is taking advantage of our nation’s subsidization of cheap calories to deliver what amounts to an extraordinary bargain to a consumer – all you can eat for less than an hour’s minimum wage!
It’s entirely predictable that such an offering would be in market. What’s not predictable, until recently, is how marketing such an offer might backfire in the coming age of marketing transparency and political unrest.
Allow me to try to explain.
As I watched the ad, and considered how many similar ones I see on a regular basis, I got to thinking about who the chain was targeting.
Certainly the chain wasn’t targeting me. I’m one of the so-called elites living in a bubble – I try to eat only organic foods, grown locally or sustainably if possible. I do this because I believe these foods are healthier for me and better for the world. I know I am in the extreme minority when it comes to my food – in the main because I can afford the prices they command. (And sure, I love hitting a burger joint every so often as a treat, but I also know that the act of considering fast food chains a “treat” is a privilege – I don’t have to rely on those outlets for my main source of sustenance.)
So no, that television ad was most certainly not targeted to me. I’d actually never even heard of the chain (nor had I seen its restaurants near where I live or travel). In short, that chain was wasting its marketing dollars on me, and most likely on a lot of other folks like me who happen to like watching baseball.
So what audience was that chain trying to reach? Experts in food marketing will tell you that the QSR industry is obsessed with reaching young men (and young men do watch baseball). But as I watched that ad, I started to think about another cohort that would clearly be influenced by the ads.
And that “target?” Intentionally or not (most likely not), it struck me that the advertisement would certainly appeal to our nation’s poor, as well as to those in our country who have eating issues, quite often the same folks, from what I read. One in seven people in the US are officially poor (and that bar is pretty damn low – $22K a year or less for a family of four). Nearly one in three are categorized as “obese.” And these two trends have become a seedbed for what are becoming the most politically sensitive issues of our generation: healthcare, wealth distribution, and energy policy. (The link between energy policy and food is expanded upon here).
Now, what happens when marketers like the all-you-can-eat chain, who like most marketers are not spending their money efficiently on TV, start buying data-driven audiences over highly efficient digital platforms? When and if we get to the nirvana that Google, Facebook, Yahoo, Microsoft, Blue Kai, Cadreon, and countless others are pushing at the moment – a perfect world of matching marketers dollars to audience data and increased foot traffic in-store – we’ll be able to discern quite directly who a marketer is influencing.
And while that restaurant chain’s goal might be to influence young men, what happens if the digital advertising ecosystem proves directly that the folks who are responding are deeply effected by what has become a hot potato national issue around food, energy, and health?
And what happens when digital activists reverse engineer that marketing data, and use it as political fodder for issue-based activism? As far as I am concerned, the question isn’t if this is going to happen, the question is when.
Wait a minute, you might protest (if you are a marketer). What about privacy!! Ah, there’s the rub. Today’s privacy conversation is all about the consumer, about protecting the consumer from obtrusive targeting, and informing that consumer how, when, and why he or she is being targeted.
But that same data, which I agree the consumer has a right to access, can be re-aggregated by intelligent services (or industrious journalists using willing consumer sources), and then interpreted in any number of ways. And don’t think it’s just anti-corporate lefties and green freaks who will be making noise, in my research for this article, I found tons of articles on Tea Party sites decrying federal food subsidies. In short, the data genie is out of the bottle, not just for consumers, but for marketers as well.
Get ready, marketers, to be judged in the public square on your previously private marketing practices – because within the ecosystem our industry is rapidly building, the data will out.
I’m not picking on the food industry here, rather I’m simply using it as a narrative example. Increasingly, a company’s marketing practices will become transparent to its customers, partners, competitors, and detractors. And how one practices that marketing will be judged in real time, in a political dialog that defines the value of that brand in the world.
This new reality will force brands to develop a point of view on major issues of the day – and that ain’t an easy thing for brands to do – at least not at present. I’ve written extensively about how brands must become publishers. I’ve now come to the conclusion that they must also become politicians as well. Brands will have to play to their base, cater to interest groups, and answer for their “votes” – how their marketing dollars are spent.
I’d wager that marketers who get in front of this trend and shows leadership on the big issues will be huge winners. What do you think?
Adobe CEO Shantanu Narayen has come to Web 2 as many times as Mark Zuckerberg, and like the Facebook CEO, he's had one heckuva year. From the fallout with Apple over Flash to the rumors of a Microsoft takeover (which he's denied), Narayen has had more than his share of…
While you are at it, click on over to my posts for RIM’s Jim Balsillie, DST’s Yuri Milner, Facebook’s Mark Zuckerberg, Baidu’s Robin Li, Yahoo’s Carol Bartz and Google’s Eric Schmidt and add your thoughts there as well.
Here are a few thought starters:Read More
Continuing my tour of selected speakers at Web 2 this year, I alight upon RIM's Jim Balsillie, the man responsible for guiding the Blackberry brand through the Skylla of Apple and Kharybdis of Android – or is that the other way 'round? In any case, RIM has long been the…
In any case, RIM has long been the king of enterprise smart phones, but that grip is arguably slipping. However, a suite of new products and an invigorated approach to developers is showing promise. Also eagerly anticipated: The Playbook, RIM’s first tablet product.
Balsille hasn’t been shy when it comes to Apple, he was recently quoted thusly: “We think many customers are getting tired of being told what to think by Apple.”Read More