Rishad Tobaccowala, CEO of Publicis Groupe’s Denuo, said the big mistake is using the word “advertising” in (online social media). The single most important lesson in marketing is to understand your consumer. “Social media is the best way to think about marketing, but it’s not necessarily about advertising,” he said. He suggested marketers can provide editing and recalled a conversation he had with humorist ZeFrank, who said, “We’re living in a world of crapacopia and brands can be very good about eliminating crapacopia.” Amid heady valuations for social-media companies, Mr. Toboccowala offered a reality check: “One single show in prime time has more impressions than the top six shows on YouTube. … If we go tell clients something that’s not mathematically true, they’ll say you’re a bunch of idiots and we’ll have 2000 and 2001 again.” Search has been such a booming online business because it scales, he pointed out, and added: “The rest is really hard work.”
I’ll be adding more to this post later in the day as I want to connect some dots.