Live from OMMA Social: Buying Social Media: What is the Agency Role in Managing Clients Social Efforts
<< by on June 23rd, 2009
The noon panel today was moderated by Joe Marchese of SocialVibe and covered “Buying Social Media: What is the Agency’s Role in Managing Clients’ Social Effort”. The panelists included Bonin Bough of PepsiCo, Jonathan Halvorson of Mediavest, Benjamin Palmer of The Barbarian Group and Ian Spalter of R/GA.
Why it should not be considered “buying” social media?
Bonin suggested that using the word “buy” is misleading because it makes it sound like it belongs in the same bucket as some traditional media. Social media doesn’t always fit into that particular bucket or traditional models.
Benjamin said that social media provides the opportunity to look at marketing as an investment — to start the conversation.
Jon said that social media is an opportunity for collaboration for brand between agency, client and consumer. It’s not about tactical one-offs, but long term value.
Bonin said the one big agency shift is that it is more about long term play now, whereas before social media, agencies were more focused on year to year relationships with clients.
Joe added that you want to build a base that you can drive media to, essentially building the pipes to flow the water through.
How do clients see the horizon?
Ian discussed working with Nike. At Nike, they make a judgement that there is value over time via engagement. For instance, they may not sell shoes to all of those engaged through a social media campaign today, but maybe those folks do run a race. That’s just the next step. It’s a long term value proposition.
Damages to brand?
Joe gave the example that, while social media can be scary for marketers for potential brand damage, any technology can create brand damage. Jon said the issue is more the speed at which things are appearing in social media.
How much of social media is allowing customers to reach out to you and how much is reaching out to them?
Bonin said that it is not typically 100% one direction or the other.
Companies and Social Media — Being the Front Line
Ian mentioned that there are times when you can’t respond for the company — so companies need to respond for their own brand as well.
How to monetize agency services?
Jon said it will have to get away from media spend. Benjamin said sometimes they are paid on effort and sometimes on outcome.