Mediacom’s Nic Hodges: Forget snake oil – social media should be about insight

Mediacom’s head of innovation and technology has warned that agencies rushing to monetise social media may not find the goldmine they expect.  

Mediacoms Nic Hodges: Forget snake oil   social media should be about insight    Nic Hodges Mediacom 150x100The comment from Nic Hodges came after Mediabrands – the parent company for Initiative and Universal McCann – said is to launch a social media division, which will probably be called Rally.

And it also follows renewed debate about where in the communications mix brands’ social media should be led from.

In a posting on his blog Uneven Distribution, Hodges said that the real value of social media to many brands is the data and insight it can generate. He said:

“What gets lost in this debate about who’s posting on a Facebook page and replying to tweets, is the immense amount of insight social media can offer a brand.”

Saying that clients want the “snake oil” taken out of social, he added: “Almost everyone overlooks this value that social monitoring brings to the overall marketing picture. And I now watch with even more interest on how specialist social media agencies (or divisions within agencies, as UM announced today) plan on selling and monetising their services. Because the bulk of real value that a social offering brings to clients actually lies outside social media, so having a business dedicated to just social doesn’t seem like the goldmine many still believe it to be.”

Hodges, previously digital creative director at Clemenger BBDO Sydney, has been in his role at Mediacom since April.

The topic of the what type of agency should lead social media was also debated at the last Mumbrella Question Time.

Comments


  1. Athan
    7 Sep 10
    9:23 am

  2. Agreed Nic.

    One brand doing such, and well, is Supre on Facebook. Every post is a design poll, and if they’re smart (and i’m sure they are) they use those insights to design the next season’s range http://www.facebook.com/supre

    (no commercial interests involved, just admiration)

  3. Grace Gordon
    7 Sep 10
    10:03 am

  4. worth noting they don’t do their Facebook Page in-house :/

  5. Nick Hodge
    7 Sep 10
    10:19 am

  6. Social Media is still snake oil. No matter how you cut the snake.

  7. Simon van Wyk
    7 Sep 10
    10:47 am

  8. I agree. Unfortunately most social media is the 2010 equivalent of the belly flop competition. Invite people to some silly event and hope they tweet about it or send us your silly video and win. I can’t see the value of either to most brands.

  9. Nic Halley
    7 Sep 10
    10:56 am

  10. most Social Media is the marketing equivalent of mugging – expensive and bad for the head

  11. paul
    7 Sep 10
    11:14 am

  12. just wondering how will all the social media companies look at monitoring actual conversations as well; i’m pretty sure that face to face conversations about products etc would be the main form of social media