International: Merging the Real World and the Internet
I'm sitting in the airport in Venice, writing my first blog post. I've spent the past few days attending the Venice Festival of Media, a conference attended largely by delegates from media buyers for the large networks as well as folks from internet heavyweights like Yahoo and Microsoft and traditional content companies like NBC Universal.
I'm sitting in the airport in Venice, writing my first blog post. I've spent the past few days attending the Venice Festival of Media, a conference attended largely by delegates from media buyers for the large networks as well as folks from internet heavyweights like Yahoo and Microsoft and traditional content companies like NBC Universal.
Much of the conversation focused on the "changing media landscape" -- everyone seems broadly aware that media markets are increasingly fragmented, digital is on the rise, social media is a critical piece of online activity and engagement trumps pure reach. Various networks recently announced that they will be mandating training to teach their television buyers how to better understand digital. Yet truth be told, my impression is that despite our industry's best intentions, the problems outnumber good old-fashioned measurable solutions.In future posts, I'll dive deeper into solutions available today that solve many of these problems. For today, it probably makes more sense to introduce myself to you all and paint a picture of our business.
From 2004 to 2006 I worked at Linden Lab, the company that makes Second Life. While I was there, we grew our product from an obscure 3D virtual world into a place with hundreds of thousands of registered users. One of the things I focused on was bringing the first corporations in to conduct experimental projects -- in doing so I discovered an interesting market opportunity.
Because we were not a content creation company, I would have to find companies to service these corporate clients. Uniformly, the usual suspects (digital agencies, game developers and ad agencies) were completely uninterested. It was their lack of interest that provided the spark for me to start Millions of Us. I believed that Second Life would not be a singular phenomenon, but rather was the start of an entire category that would offer large opportunities for brands and entertainment companies to engage users in new and different ways. Luck and good timing were on my side. What began in my partner's garage 21 months ago is now a 40 person agency representing 1/3 of the world's most valuable brands ranging from Coke to Nike.
In the past two years, virtual worlds have received a great deal of media coverage (arguably too much). Yet much of the coverage is warranted: Gartner Group predicts that by 2011, 80% of internet users will participate in at least 1 virtual world. While Second Life has received about 99% of the media's attention, it only accounts for about 1% of all the users globally. Globally, sales of items in virtual worlds account for $1.5 billion. Those are big numbers and they're just the beginning.
For brands, the key takeaways are as follows:
Virtual worlds are a significant and fast growing market.
Virtual worlds are a subset of social media, which accounts for 30% of consumer internet activity in the US according to Comscore.
Virtual worlds turn the web into a "place," allowing users to connect face-to-face in real time.
Early data suggest that levels of brand engagement in virtual worlds are extremely high. Millions of Us has conducted some 60 engagements in virtual worlds for clients with engagement per user ranging from 2 to 24 hours.
We view the next year as a critical one in the growth of this industry. Several key events will dramatically affect the landscape and opportunities. First, we'll start to see an increasing understanding amongst clients that existing, web-based virtual world communities like Gaia Online, Habbo Hotel and Wee World have very large, active user bases that offer brands the opportunity for powerful results. Second, media and technology heavyweights like MTV and Sony will be scaling up their offerings in the space. In the case of MTV, this means extending the worlds they have built around broadcast properties like "The Hills" and "Laguna Beach." For Sony it is the release of Home, a high definition world connecting users of the PlayStation3 globally. Finally, we'll start to see virtual worlds plugging into existing social networks. There are 550 million users of social networks and as users begin to put virtual "rooms" on their pages, the game will change significantly. Not only will this add scale to the market; more importantly it will allow users to have virtual lives based on their real life identities. This represents a sea change for advertisers and the beginning of the mainstreaming of the market.
So what should brands be doing right now? Most of our clients have moved beyond the experimental phase and beyond experimental budgets. From that perspective, we recommend the creation of a strategic roadmap, with clearly defined goals and metrics. Once such a plan is created, tactics can be map against it and measured.
Second, as an industry, we are still undeniably in the early days. We still lack consensus about a variety of issues from interoperability to metrics. Millions of Us recently put together a coalition of over a dozen of the leading virtual world platforms to begin defining ROI for marketing in virtual worlds. This study, being conducted by Forrester, is an important first step towards defining what needs to be measured and creating guidelines for all worlds to follow.
Most importantly, we need to remember our role as educators and evangelists. This is all very new and somewhat foreign, and we need to continue explaining the space as it evolves and matures. I hope this blog can play a valuable role in that ongoing conversation.
Source: AdAge.com
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
TOP STORIES
E4M Our strategy is to target younger audiences through Sports: Rajiv Dubey, Dabur
The Head of Media at Dabur India spoke exclusively to exchange4media on the World Cup, associating with Indian Idol, the company’s digital spending and much more
With quirky campaigns, memes and moment marketing, timed with the ongoing World Cup and particularly the India-Pakistan matches, Dabur India has got considerable consumer attention for its popular brands – Red Paste, Cool King Hair Oil, Chyawanprash, Dabur Vita and the recently launched Bae Fresh Gel toothpaste.
The 140-year-old company is going big on key sporting events, World Television Premiere (WTP) movies and reality shows. It is now gearing up to become the title sponsor of popular talent show ‘Indian Idol’ on Sony TV for the first time, shared Rajiv Dubey, who leads the media strategy at Dabur.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
ShareSwapan Seth's new book 'COOL' is out
The book is a reflection of the author's 'eclectic taste across categories'
Advertising professional and art collector Swapan Seth has announced the launch of his new book COOL. The book is described as "a ready reckoner to the hip and the happening, of the known and the very unknown."
The book is a reflection of the author's "eclectic taste across categories: from boltholes to exotic hideaways."
COOL has been published by Simon & Schuster India and is available on Amazon.
Seth is an ad veteran with a long and illustrious career in the industry. He became the youngest-ever Creative Director at Clarion at age 24. He was VP at 26 at Trikaya Grey. Two years later, he started his agency Equus.
He writes for publications such as The Economic Times, Hindustan Times and India Today. This is his second book and he has previously published THIS IS ALL I HAVE TO SAY.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
Disney Star signs 9 sponsors for Asia Cup PAK
Charged by Thums Up, Nerolac Paint+, Amazon Pay, Jindal Panther, My11Circle, MRF, Samsung Galaxy Z Flip5, Wild Stone and Thums Up come on board
e4m Staff Disney Star has signed nine broadcast and digital streaming sponsors for the upcoming Asia Cup.
Charged by Thums Up, Nerolac Paint+, Amazon Pay, Jindal Panther, My11Circle, MRF, Samsung Galaxy Z Flip5, Wild Stone and Thums Up have come on board for the upcoming tournament.
As reported earlier by exchange4media, Disney Star has sought Rs 26 crore for the co-presenting sponsorship on TV and Rs 30 crore for Disney+ Hotstar.
According to industry sources, the associate sponsorship on Star Sports has been priced at Rs 19.66 crore, whereas for the ‘powered by’ sponsorship on Disney+ Hotstar, the broadcaster is seeking Rs 18 crore.
As per the information available with exchange4media, Disney+ Hotstar has three sponsorship tiers-- co-presenting (Rs 30 crore), powered by (Rs 18 crore) and associate sponsorship (Rs 12 crore). The broadcaster is offering an estimated reach of 120-140 million for co-presenting sponsors, 90-100 million for powered by and 60-70 million for associate sponsorship.
A spot buy for 10 seconds has been priced at Rs 25 lakh for the India vs Pakistan matches, while for the non-India matches, the ad rate for 10 second is Rs 2.3 lakh. The India matches plus the final for ODIs has been priced at Rs 17 lakh per 10 seconds.
Asia Cup is scheduled to be held from 30 August, 2023, to September 17, 2023.
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
Sorted 360 wins creative & social media mandate of Reliance Mall
The agency will manage offline and online campaigns for Reliance Mall
Sorted 360, an integrated creative and social media agency, has won the mandate to providing brand solutions for Reliance Malls across India.
“Sorted 360 is set to enhance Reliance Malls' market presence with their unparalleled creative prowess and strategic thinking,” read a press release.
“Sorted 360's commitment to pushing the boundaries of creative communication aligns perfectly with Reliance Malls' ethos. With a pan-India presence spanning across 19 cities and growing, Reliance Malls has consistently captivated customers by offering an array of Reliance brands and third-party fashion & lifestyle brands. The mall has established an unparalleled connection with its patrons through superior quality, a remarkable value proposition, and an unmatched shopping experience,” it read further.
"We are thrilled to welcome Sorted 360 as our trusted partner in advancing our brand presence across the nation," said the Head of Marketing at Relaice Malls. "Their proven expertise in retail, shopping center management, and innovative creative strategies make them the perfect fit for our vision."
"Partnering with Reliance Malls is a testament to our commitment to shaping extraordinary brand experiences," remarked Prerana Anatharam, Co-founder of Sorted 360. "We are excited to leverage our strategic and creative acumen to further elevate Reliance Malls as the epitome of convenience, choice, and excellence."
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
test
test
test
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
test
test
test
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp
KlugKlug onboards Hemang Mehta as Country Manager for Indias
Mehta was most recently Head of Agency Relationships at Network 18 Media & Investments
KlugKlug has appointed Hemang Mehta as its Country Manager for India.
Mehta will play a pivotal role in driving KlugKlug's growth and expansion within the Indian market and be responsible for Sales & GTM Strategy
Prior to that, he has also represented organisations like Exponential (now VDX.tv), India Today Digital and Rediff.com. His expertise spans various domains including digital media sales, mobile marketing, media planning, and buying, social media marketing, and more.
Hemang Mehta expressed his enthusiasm about joining KlugKlug, saying, "I am thrilled to be a part of KlugKlug, a forward-thinking platform that is reshaping the influencer marketing landscape. As much as I look forward to collaborating with the exuberant team at KlugKlug, I am super excited to interact with the brands to deliver powerful data-backed Influencer solutions that will guarantee business outcomes."
Commenting on the appointment, Kalyan Kumar, Co-Founder and CEO of KlugKlug, stated, "We are excited to welcome Hemang Mehta to our team as the Country Manager for India. His extensive experience in digital media sales and marketing will be instrumental in driving our efforts to provide influencer marketing solutions to our clients. We believe Hemang's leadership will be key in scaling our operations and expanding our reach within the Indian market."
Read more news about (internet advertising India, internet advertising, advertising India, digital advertising India, media advertising India)
For more updates, be socially connected with us onInstagram, LinkedIn, Twitter, Facebook Youtube & Whatsapp