1. Interactive Agency business models are subverted by social media
Generally Interactive Agency bread and butter is in “big bang” marketing and implementation, expensive expensive web sites, experience “orgy” microsites, big spend banner campaigns and intersticials, basically mass marketing on the web. The more expensive it is to implement the more money the agency makes. Succeeding in Social Media turns that model on its head as implementation tools are generally very cheap in comparison with traditional interactive projects, it’s the ideas that are valuable. This can be likened to the advertising agency problem of if your revenue is tied to advertising spend then how can you move into advertising that costs a 100 or a 1,000 times less? Agency.com didn’t create this video because it’s business is doing well, it did it because it sees the writing on the wall, look at their hiring page, a dozen open positions in a global company?
Lets say the Ford Bold Moves site, and The Coke Show are examples of “big agency” social media, and the office promo competition on youtube was the very cheap “social media” way to do it. What’s the result? The Coke Show, which is actually the coke.com homepage has 10 entries (it launched with 14 at the beginning of july), the office promo has 400.
2. Failure is not just acceptable, it should be encouraged
Cultural fear of failure in agencies will stifle creativity, and needs to be encouraged, honored and recognized. In fact this doesn’t just go for agencies, all companies need to realize that interacting, engaging and creating in social media involves experimentation and failure needs to be recognized as part of the growth. Many see the Agency.com video as a total failure, but if Agency.com get to learn more about social media from that then surely they are the winner over the long term.
3. In Social Media Everyone is a Critic
Put your flame proof trousers on folks because you are not in Kansas anymore. Social Media is full of real people, with real opinions, and real swear words. Be prepared, and make sure any of your sensitive artists understand this
4. Experimenting Meaningless Without Measurement
(notice Coudal.com got a bigger bump than Agency.com
It is also important to note that measurement in Social Media should take into account the 1% rule, or the idea that only 1% to 10% of a population will actively create, comment and amplify, so just measuring “views” misses the real value creators in social media, the mavens and the connecters as Malcolm Gladwell would say.
5. Viral Stewardship – Virals Are Unpredictable So Pay Attention
If something takes off in Social Media be prepared to participate, or at least steward the conversation. Agency did a great job of actively tracking the conversation, and responding quickly to the direction it was taking. Viral, and social media marketing are incredibly dynamic, and in many ways you have no control over the direction its going to go so pay attention.
As it turned out the community totally lampooned the “fist bump” and the phrase “when we roll we roll big”, and 3 days into the arc of this campaign Agency.com registered “whenwerollwerollbig.com”
Administrative Contact , Technical Contact :
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Record expires on 02-Aug-2008
Record created on 02-Aug-2006
And even created a logo: