GSP Liveblog: BuddyMedia and “App-Vertising” [Ack.]
Michael Lazerow, HealthBuddy speaker
“We live at intersection of social media. . .and advertising.” [Which is to say: They help marketers reach social network users.] It’s App-vertising!” [Ahem]
[Lots of stats showing ubiquity of social network use. Smells of hopeful, evasive fiction.]
Who cares most about distribution in this marketplace? Brands, says he.
Observation: Low click-through rates on banner ads on network. Buyer has power: They have so many choices, why will they choose a particular platform?
“The application is the new ad unit. Impressions are not an end, but a means to an end”–engagement with the brand.
Ad agencies, media companies are ill-placed to. . .live in this social world.
Appvertising: Share app; target; “Your friends are now in your ads” [Ack. Ick.] Widgets: Sprout is the main mover, allowing people to build flash applications on the fly.
FedEx application permitted choosing/shipping of “virtual” product [attachment] to send to a friend. The value is branding. “Check your dudeness.” Time Inc. app: View yourself as with celebrity hair, etc.
Yes, but what is the “metric” for “engagement”: Says he: “Um, it’s a work in progress.” Pulling data and producing reports. “We get paid on engagement”–installs, unique visitors. Beer campaign, 20 percent of users came back 100 times or more to measure their “dudeness.”
Bottom line is: Engagement is the metric that matters to people branding on social networks, not impressions. “Impressions are like air”–huge inventory, lower demand.
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Web 2.Oh. . .really? 
10, June, 2008 at 11:03 am
Nice summary. With more networks opening up their platform for applications, I think “App-Vertising” will grow pretty rapidly. However, most of the apps will have limited value and traction. But, its a great way for platform builders (e.g. FaceBook, bebo, …) to expand reach and experiment with new ideas.