Here’s my still very fresh impression from yesterday’s 3rd Media-Observer-Congress 2012.
The dominant topic of this years conference was social media controlling. It’s fascinating to see how social media evolves almost monthly and how, in general, discussions on this topic become more professional conference after conference. Social media evolves and managers start making the same high demands on its efficiency as they do on other media channels.
What else is worth mentioning? The second opening speech from Prof. Schwaiger (LMU) on reputation management really got me. In his upcoming study he compared German DAX-companies with high reputation with those with low reputation. Controlling for endogeneity and all sorts of other factors he found a significant reputation-induced value premium for the former companies. This is a strong argument against growing tendencies in management practice to reduce marketing to a shortsighted sales promotion-function only.
My second take-home message came from Ralf Mager, head of online marketing and e-commerce at Lodenfrey. The small and very traditional Munich-based fashion label and boutique impressed with it’s creativity and passion for social media (much of it can be attributed to Ralf’s own enthusiasm for this topic, I guess!). They not only handled and intelligently integrated all sorts of social media channels (even Pinterest :-), but also came up with some remarkable ideas for social commerce. A Facebook app let’s you collect a number of clothes of which you can’t decide on which one to buy (see picture above). The friends you trust help you out and vote the favorite item for you.
“Social media needs passion and ownership. That’s why you can’t source it out to any agency,” was Ralf’s advice on how to deal with social media.