[Editor's note: This is a guest post by social media specialist, Stacey Alexander.]

Speaker: Eric Bradlow, Co-Director of Wharton Interactive Media Initiative

From the program:

The world of practice and academia have never collided so positively and mightily as in the sector of interactive media. The presentation will focus on practically-academic and academically-practical findings in interactive media and their implications for social commerce and social shopping. The intent is to encourage people to look towards data-oriented academics to assist in the understanding of this complex new media and develop practical applications from the data that arises from it.

There is no great divide between academic and practical.

Why listen to Eric?

• He takes corporate partner business problems and present them to the academic community.
• He does his own academic research.
• He participates in academic research conferences and WIMI-funded research.

WIMI learning network:

Google, Expedia, digital lab, Microsoft, ESPN, New York Times, online marketing institute, zumbox, hulu, OMD, RAPP, Philadelphia Zoo, organic, BBDO Worldwide, Wharton University, Wharton Lab for Publishing Innovation, Office Arrow

What is the #1 problem today for internet ad publishers?

Aside from the ability to target ads, nobody knows how much to pay them!

• Advertising Attribution
  • Not last click – money is given to the last click
  • Not equally spread

Digital advertising paths allow you to see every ad they clicked on to get to the last one. The key is having ads, click-throughs and money linked together. Media needs to be tracked to the money.

What’s the #1 problem today in search, from the search firm’s perspective?

“What should I show you?” (Relevance)

Key to problem is data – it allows you to answer. If you don’t track individual level behavior, then you’re just supposing what’s going to affect ROI.

One example Eric gave of using this data is Hulu, where their goal was a forecasting system to predict dead users.

To do this, they only used data that Hulu already had.The data contains 23,000 users of Hulu.com who registered during February 2009. Customers fell into four categories:

1. Alive then dead: high use then none at all
2. Alive then cold: high use to low use
3. Alive or dead: back and forth between high use and none at all
4. Alive or cold: back and forth between high and low use

The data was then used to make graphs, which showed that the highest group of customers was the alive then dead group. How does Hulu make money using this? At any point in time they can see if a customer is about to die.

What does this information mean for Hulu? Because most are likely to use it for a while and then never again, hulu should invest their money in paying for customer acquisition over customer retention.

What else can we learn from WIMI?

• If you’re not listening to what people are saying about you and your industry on social media, you may not be dead yet, but you will be.
• What your customers are saying matters. You can take user-generated content to the bank.
• Use the wisdom of the crowds to create new products. The wisdom of the crowd is good, but you better have a big crowd. The sun don’t shine on the dog’s ass twice.
• Knowing a customer’s social graph helps predict their purchases.
• Consumers bring additional value through the community.
• Low price, build up desirability, charge people downstream.
• Influencers work, but slowly and “locally”. If you want to use social influence to drive sales and make real money, you better have a lot of influencers.
• Freemium works! Popularity begets popularity; but how do you get it? Start out free. When it gets popular, start charging.
• Biggest problem going forward is data minimization. “Here’s the minimum amount of data you need to collect.” Today there is too much data to collect. Solution: Keep what is needed, fit what is there.

Stacey Alexander is a communications professional with a passion for social media and a background in public relations. You can read more of her insights on news and information in social media and marketing 2.0 on her blog StaceyAlex.com.

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[Editor's note: This is a guest post by social media specialist, Stacey Alexander.]

Measuring the ROI (or Return on Investment) of social media is a trending topic these days among businesses, especially the ones who are hesitant to join these efforts. Demonstrating that ROI for social media can be measured, and that it involves more money for the company, can be the key to getting the go ahead for social media involvement within your organization.

But how? Is it possible to measure the ROI of a single tweet, blog post or update? How do you measure the ROI of all of them? This Thursday, September 23, Lift Summit will answer these questions for you with the “Roadmap to Measuring Social Return on Investment”.

Members of the panel include Dennis Stoutenburgh, Steve Ennen, Michael Thomas and Mike Gelfond. Dennis Stoutenburgh is President and COO of IDL Corp. As such, he is responsible for overall profit and loss, operations, and customer satisfaction of ILD’s Outsourcing divisions. Before joining ILD, and recently launching Social Strategy1, he was President of the Communications Group of Intellicall.

Steven Ennen is the managing director of the Wharton Interactive Media Initiative, with 15 years’ experience in online strategies. Previously, he was VP for Digital Business Strategies at American Business Media. In this position, he advised media and marketing companies on video and mobile messaging, social networks and digital revenue strategies.

Michael Thomas is Principal of Effective Engagements and Director of Social CRM Strategies for Social Strategy1. As an authority in Customer Relationship Management (CRM), he brings expertise in strategy development and social media engagement. He was serves Social CRM Leadership Council for Radian6, and was named a Rockstar of Social CRM by their Social Media Listening Platform.

Mike Gelfond is Executive Vice President of Client Services at Mastermind. He has 10 years’ experience in digital advertising with expertise in social media, promotions, reputation management, analytics, CRM, and lead generation. He has previously worked with clients such as Bayer Cropscience, Coca-Cola and the NFL Network.

Stacey Alexander is a communications professional with a passion for social media and a background in public relations. You can read more of her insights on news and information in social media and marketing 2.0 on her blog StaceyAlex.com.

Photo by cygri

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[Editor's note: This is a guest post by social media specialist, Stacey Alexander.]

This year’s Lift Summit will be hosted by three sponsor companies: Wharton Interactive, Office Arrow and Social Strategy1. Who are these companies, and what do they do?

Wharton Interactive Media Initiative (WIMI) is a data-driven effort geared toward digital and interactive media. The endeavor focuses on this areas effect on global business and the implications it has on traditional business models. According to the website, WIMI’s goals are to:

• Bring a passionate data-driven perspective to media business
• Distinguish itself with a tight focus on the interaction between content provider and user
• Bring world class research rigor to better understand these interactions in order to drive new business strategies and tactics, reshaping the media landscape.

Office Arrow is a collaborative community developed for office professionals by office professionals. Members include executive and administrative assistants, office managers, small business executives and more. They can create their own profile, and connect and collaborate with each other through groups and discussions. They can search the site for answers to questions, and can even purchase things like travel and office supplies getting Office Arrow deals.

The company website explains that they “are looking to build the world’s largest online collaborative business community for office professionals, to empower you to connect, communicate and collaborate with others who share your interests and challenges, peers who you can trust, call on, and help.”

Social Strategy1 leverages social media monitoring technologies to help companies capitalize on the opportunities that are available on the social web. The company’s outsourcing online business management system monitors and analyzes digital and social community channels, and is backed up by business experts who analyze the data for sentiment and opportunity. According to the website, Social Strategy1’s philosophy is to:

• Believe in Partnerships
• Strive For Innovation
• Recognize Individuality
• Value Human Touch
• Appreciate Resources

On September 23, Lift Summit attendees will have the opportunity to meet professionals from these sponsors, as well as learn from them during keynote and panel sessions.

Stacey Alexander is a communications professional with a passion for social media and a background in public relations. You can read more of her insights on news and information in social media and marketing 2.0 on her blog StaceyAlex.com.

Photo by Thomas Hawk

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[Editor's note: This is a guest post by social media specialist, Stacey Alexander.]

Social media offers a plethora of new ways to connect with customers. It can help you express to them how valuable they are to your company. It can create loyalty and longevity, enabling you to keep your customers instead of having to replace them. But can it help increase your sales? The social media community says yes.

How do you do this? What are the best practices to generate leads? How can you promote customer loyalty or obtain customer feedback? Lift Summit will answer these questions for you on September 23 with an afternoon panel, “Social Media Strategies and Tactics that Lift Sales”.

The panel members will include Bryan Simkins, Sam Decker, Jennie Ecclestone and Lisa Calhoun. Bryan Simkins is a Marketing Specialist for FedEx Advertising, where he heads up digital advertising strategies, search marketing, and web analytics. He has previously worked for agencies supporting brands such as Pepsi, Frito-Lay and DaimlerChrysler.

Sam Decker is the Chief Marketing Officer of Bazaarvoice. He frequently speaks at eCommerce and marketing events, and maintains an award-winning marketing blog. Sam has written two books on word of mouth and guerrilla marketing, and serves of the boards of both Word of Mouth Marketing Association (WOMMA) and the Web Analytics Association.

Jennie Ecclestone is the Assistant Manager of Southeast Region Communications for General Motors. She leads grassroots communications and public relations, and manages all social media efforts in Florida, Tennessee, Georgia, West Virginia, Virginia and Kentucky. Jennie was previously GM’s Assistant Manager of Northeast Region Communications in Detroit.

Lisa Calhoun is President of Write2Market, an agency that creates recognizable industry leadership for companies like Aflac, Camp Coca-Cola and Motorola. Her company was recognized by Start-Up Nation as a Top 10 Financial Performer in 2007, and cited for its innovative approach to making business headlines by publications such as The Wall Street Journal and USA Today.

Hear from these experts on how social media and social commerce can help you generate sales while creating customer loyalty and gaining valuable feedback.

Stacey Alexander is a communications professional with a passion for social media and a background in public relations. You can read more of her insights on news and information in social media and marketing 2.0 on her blog StaceyAlex.com.

Photo by timparkinson

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[Editor's note: This is a guest post by social media specialist, Stacey Alexander.]

It’s easy to see how social shopping can be beneficial for business to consumer (B2C) companies. Consumers like to reference other people’s opinions as they shop for clothes, DVDs or food processors. They like to know what others thought of the quality of the product, and how they rate their experience with the company who sold it to them. They like to know the current trends in purchases so they can keep up with the Joneses. The more B2C companies make shopping online a more social experience, the more their sales will increase. But where do business to business (B2B) companies fit into this equation? Do businesses want to be social when they’re shopping for services? How would that work?

On September 23, Lift Summit will provide the answers in the panel session “Social Shopping for B2B” moderated by Jeff Cohen. Jeff, who has more than 15 years’ experience in both B2B and B2C marketing, is the Social Media Marketing Manager at Howard, Merrell & Partners. He is also a partner of OurHashtag, and Managing Editor of SocialMediaB2B.com—a social media site highly ranked in the AdAge Power 150. Jeff is also a photographer who blogs at DigitalPapercuts.com, and hosts an online video show about North Carolina Wine.

Members of the panel include Robert Ball, Sam Decker and Mike Lewis. Robert Ball is CEO and Co-founder of Office Arrow, LLC. He has served as a member of the founding executive team of Akamai Technologies, where he directed the company’s acquisition strategy, strategic partnership activities, new product development and international expansion. He was also the co-founder and manager of Alston & Bird’s Internet and E-Commerce practice.

Sam Decker is the Chief Marketing Officer of Bazaarvoice. He frequently speaks at eCommerce and marketing events, and maintains an award-winning marketing blog. Sam has written two books on word of mouth and guerrilla marketing, and serves of the boards of both Word of Mouth Marketing Association (WOMMA) and the Web Analytics Association.

Mike Lewis is Chairman and Co-Founder of Office Arrow, LLC. He has 25 years’ experience in forming, financing and profitability managing startup companies. Recently, he has focused on social commerce, leading to the launching of Social Strategy1, which assists companies in building and monitoring effective social commerce as well as social media strategies. He’s also very involved with the Wharton Interactive Media Initiative (WIMI).

Come listen to these experts as they explore how B2B companies can use new sales techniques and outlets to grow their business, and how they can join the social shopping trend.

Stacey Alexander is a communications professional with a passion for social media and a background in public relations. You can read more of her insights on news and information in social media and marketing 2.0 on her blog StaceyAlex.com.

Photo by danielbroche

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[Editor's note: This is a guest post by social media specialist, Stacey Alexander.]

Social media has revolutionized the way we connect with others, exponentially increasing our social circles. Using tools like Facebook, Twitter, Kaboodle and more, we are connecting with people who we would never have had the opportunity to know otherwise. People who with similar interests, values and aspirations. But these platforms aren’t only changing our social lives; they’re influencing our approach to business.

Social media is a new wave of getting back to the basics of the right way to do business. It brings out the human behind the corporate brand. It gives consumers—and potential consumers—an emotional connection to an organization, which can cultivate loyalty and longevity. It encourages companies to become what consumers want by paying attention to what they’re saying. As this video by Socialnomics points out, social media is guiding businesses to act more like Dale Carnegie: listening first, selling second.

On September 23, Lift Summit will feature a keynote presented by Eric Qualman, further explaining “How Social Media Transforms the Way We Live and Do Business.” Eric is the author of Socialnomics—which is currently #1 on Amazon’s list for Online Marketing books—and the Global Vice President of Online Marketing for EF Education. He is a published fiction author, has been highlighted in publications like Forbes and AdvertisingAge, and hosts his own social media blog.

Stacey Alexander is a communications professional with a passion for social media and a background in public relations. You can read more of her insights on news and information in social media and marketing 2.0 on her blog StaceyAlex.com.

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