Evolution of Internet industry

Feb 26, 2013·0 visitors

Rachael Workman

Cohost

Stage· 19 messages

Feb 26, 2013

Jordan Birnbaum · 6:05 PM

good afternoon, Rachel.

Rachael Workman · 6:05 PM

Hey Jordan!

Jordan Birnbaum · 6:07 PM

So I want to talk about how the Internet industry has changed. When I started, there was no history or operating procedure. We made everything up as we went along. Would you still characterize it that way?

Rachael Workman · 6:08 PM

well not exactly. we benefit from piggybacking on a lot of other companies' R&D. With that said, we're doing something unique and are solving for new problems everyday.

Jordan Birnbaum · 6:10 PM

Do you think the value of advertising and marketing via Internet channels is in line with print and television, or do you think it is still heavily discounted because people don't inderstand it?

Rachael Workman · 6:12 PM

i think people are really starting to understand it. companies like media math are really tapping into how to do this -- and the takeaway for advertisers is more immediate and tangible.

Jordan Birnbaum · 6:14 PM

how do the CPMs compare? In the 90`s, the equivalent advertising on TV vs. Internet was about $300 to $1.

Jordan Birnbaum · 6:15 PM

★ Spotlighted from Blake Ian

“Jordan, can you tell us what was the most valuable thing you learned at Juno?”

Jordan Birnbaum · 6:16 PM

I think it would be the need to abandon your tactics as soon as it becomes evident they are not working - never become too wed to your ideas. You must be orgnioc and constantly re-assessing your assumptions relative to yur experience.

Rachael Workman · 6:17 PM

wow that's insane. not sure about TV versus internet - though i'm sure TV is still much more expensive. print advertising is still very pricey by comparison as well. there is a range of online rates - it depends on pageviews and the site's popularity

Jordan Birnbaum · 6:23 PM

I am so frustrated because I think advertising on the Internet is so superior in functionality that it actually hurts itself by revealing too much. There's no equivalent measure of television or print advertising...

Rachael Workman · 6:23 PM

very true point

Jordan Birnbaum · 6:23 PM

so because an Internet ad shows a low click-thru rate it gets punished, while a TV ad or print ad is assumed to be effective.

Rachael Workman · 6:24 PM

it's TOO informative

Jordan Birnbaum · 6:25 PM

I think the ad agencies have been convincing their clients for decades that the responses to their advertisements were several orders of magnitude greater than reality, and the Internet reveals that.

Jordan Birnbaum · 6:27 PM

How do you think brand loyalty works with your generation? My generation became very tied to particular brands - I only use Tide and only eat Skippy - is it like that on the Internet?

Jordan Birnbaum · 6:38 PM

One of the great things abut the 90s was that failure wasn't a stigma - in fact, it gave you credibility. The perception was you tried something and learned from it, making you stronger. Is it still like that?

Rachael Workman · 7:02 PM

there's definitely a stigma attached to failure, unfortunately. it's only when you go out there and fail at something yourself that you realize how productive and necessary it is to do so.

Rachael Workman · 6:12 PM

pressure to a process that is already plenty pressure-filled.