IDG Next Generation Marketing 2008 - Chang-Il Choi, LG Household and Healthcare
IDG Next Generation Marketing 2008 - Byung Hwi Shin, Neowiz

IDG Next Generation Marketing 2008 - Sung Lee, VP MySpace

5D968294-ECAB-4B97-9D47-88585C69E7B0.jpgSung Lee is the VP of Operations for MySpace in Asia. Her presentation focused on the ways in which marketers should approach social network marketing.

Key takeaways:

  • Social networks are bigger than you think
  • People, brands and artists are able to create their presence on the web
  • The online experience is offline as well in the form of events, etc.
  • MySpace has 118M unique visitors with over 51% growth in the last two years
  • 12M of those users are in Asia Pacific
  • 70K videos uploaded daily
  • Self-expression, connection and discovery drive social networking
  • Driven by the "me" economy
  • Social media is redefining the marketing channels and the media mix
  • Reasons for friending brands; 29% notice of events, sales, offers / 28% recommended by a friend / 23% want to associate with them / 23% discounts, coupons, samples / 11% want to support the brand
  • Key stages of social network marketing: Create a community -> Cultivate relationships -> Build long-term CRM
  • Pass along from a peer drives 34 times the pass-through and 20 times the purchase intent versus ads on MySpace
  • Five steps to build momentum know the audience, keep it real, empower the audience, enable dreams, leverage the power of the platform
  • Cartier example drives traffic to download songs, MySpace allows for scale across languages and geography
  • Questions to ask yourself first: do you know your audience, can you customize the creative, do you have engaging assets to share, are you willing to continue an ongoing dialogue
  • Platforms are expanding into mobile and will continue to become more prevalent over time
  • Personal connections with the brand is the differentiation strategy for MySpace over Facebook
  • MySpace is relatively new in Korea, but is growing exponentially

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