Future of Social Advertising: Determining the Value Exchange
This is the second post in a series looking at the future of social advertising.
To read all posts on the topic, click on the ‘Social Advertising’ tag.
The first post examined future trends in Social Advertising, postulating that going forward brand marketers would increasingly look to implementing social experiences offline around special interest groups which could then be promoted via ‘the social web’ using social media tools like blogs, online video and … Facebook groups.
This post examines the value exchange in the largely ‘free’ online environment of social media.
As has been illustrated by Real Fresh TV’s recently concluded iPhone giveaway, today’s web savvy consumer is fully aware of the value exchange that occurs when they use a free online service or participate in a ‘free’ event online.
Indeed, a lot of consumers are sceptical of ‘free’ promotions on social networking sites, so prevalent have they become. The omni-present “Click Here To Win 4 SIM cards” blinking display adverts on MySpace are a case in point. What would posses someone to click on one of those ads, I often wonder? I’m clearly not the target demographic….
In this post, I am going to argue that whilst display advertising has its place in online marketing, the two way discourse offered by social media offers a much better way.
You see, social media is about participation and active dialogue with engaged consumers.
Most display advertising uses interruption advertising techniques gleaned from ‘old media’ like TV and radio.
The value exchange in social media is ‘consumer opinion’ and ‘attention’ in return for ‘free [insert content type here]’.
Consumers are more and more aware that in a marketplace of infinite choice they hold the upper hand, contrary to what marketers would like them to think.
However, the value exchange described above, once acknowledged, is actually rewarded readily by most.
In crafting a social advertising campaign, offering ‘free’ content without expecting engagement in return will increasingly seem short sighted.
It is the equivalent of blinking text ads that turn off the user.
Offer free content by all means but expect a dialogue in return. In fact, encourage it.
Real Fresh TV’s soon-to-be launched self-service Sponsored Giveaways will utilise this principle in full.
I love having the opportunity to test assumptions, particularly those relating to social media. Sponsored Giveaways offer an opportunity to do just that.
Over to you….
What do you think? Should this ‘implicit’ value exchange be defined in all social advertising campaigns?
Or do you think freebies only attract freeloaders?
Share your thoughts in the comments.
Image Credit: ExitCreative.net
Related posts:
- Future of Social Advertising: Music And Lots Of It
- Future of Social Advertising: Branded Content and Branded Social Media
- Future of Social Advertising: Potential Pitfalls of Using Social Media
- The Future of Social Advertising: Social Media and Social Experiences
- There are Only Two Kinds of Online Advertising: Relevant Advertising and Spam
