Trends in Digital Competence and Their Impact on the Public Sector with Scott Galloway, Founder of L2.
Social media shifts marketing from controlled, one-way communications into collaborative, intimate dialogues with -- and among -- constituents. The strategies, tools, rules of engagement, and metrics present marketing and digital professionals with a series of challenges that are best distilled into one question: "What do I do now?"
Scott is a Clinical Professor of Marketing at the NYU Stern School of Business, where he teaches brand strategy and luxury marketing, and is the founder of L2, a think tank for digital innovation. Scott is also the founder of Firebrand Partners, an operational activist firm that has invested more than $1 billion in U.S. consumer and media companies. In 1997, he founded Red Envelope, an Internet-based branded consumer gift retailer. In 1992, Scott founded Prophet, a brand strategy consultancy that employs more than 120 professionals in the United States, Europe, and Asia. Scott was elected to the World Economic Forum’s “Global Leaders of Tomorrow,” which recognizes 100 individuals under the age of 40 “whose accomplishments have had impact on a global level.”
Scott has served on the boards of directors of Eddie Bauer (Nasdaq: EBHI), The New York Times Company (NYSE: NYT), Gateway Computer, eco-America, and UC Berkeley’s Haas School of Business. He received a B.A. from UCLA and an M.B.A. from UC Berkeley.
"Facebook is going be the most valuable company in the world within 24 months," predicts L2 founder Scott Galloway. Highlighting the generation of young people who are already using Facebook like an operating system, Galloway argues the social media giant will eventually become the Internet.
L2 founder Scott Galloway admits he personally dislikes Facebook, but warns companies not to underestimate its ever-increasing influence on consumer behavior of the young and affluent. "They are twice as likely to have been on Facebook yesterday than to have watched television," explains Galloway. "One in five check Facebook before they get out of bed."
Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the University of California at Los Angeles, Stanford Research Institute, the University of California-Santa Barbara, and the University of Utah. ARPANET's purpose was to conduct research into computer networking in order to provide a secure and survivable communications system in case of war. As the network quickly expanded, academics and researchers in other fields began to use it as well. In 1971 the first program for sending e-mail over a distributed network was developed; by 1973, the year international connections to ARPANET were made (from Britain and Norway), e-mail represented most of the traffic on ARPANET. The 1970s also saw the development of mailing lists, newsgroups and bulletin-board systems, and the TCP/IP communications protocols, which were adopted as standard protocols for ARPANET in 198283, leading to the widespread use of the term Internet. In 1984 the domain name addressing system was introduced. In 1986 the National Science Foundation established the NSFNET, a distributed network of networks capable of handling far greater traffic, and within a year more than 10,000 hosts were connected to the Internet. In 1988 real-time conversation over the network became possible with the development of Internet Relay Chat protocols (seechat). In 1990 ARPANET ceased to exist, leaving behind the NSFNET, and the first commercial dial-up access to the Internet became available. In 1991 the World Wide Web was released to the public (via FTP). The Mosaic browser was released in 1993, and its popularity led to the proliferation of World Wide Web sites and users. In 1995 the NSFNET reverted to the role of a research network, leaving Internet traffic to be routed through network providers rather than NSF supercomputers. That year the Web became the most popular part of the Internet, surpassing the FTP protocols in traffic volume. By 1997 there were more than 10 million hosts on the Internet and more than 1 million registered domain names. Internet access can now be gained via radio signals, cable-television lines, satellites, and fibre-optic connections, though most traffic still uses a part of the public telecommunications (telephone) network. The Internet is widely regarded as a development of vast significance that will affect nearly every aspect of human culture and commerce in ways still only dimly discernible.
Activities that direct the flow of goods and services from producers to consumers. In advanced industrial economies, marketing considerations play a major role in determining corporate policy. Once primarily concerned with increasing sales through advertising and other promotional techniques, corporate marketing departments now focus on credit policies (seecredit), product development, customer support, distribution, and corporate communications. Marketers may look for outlets through which to sell the company's products, including retail stores, direct-mail marketing, and wholesaling. They may make psychological and demographic studies of a potential market, experiment with various marketing strategies, and conduct informal interviews with target audiences. Marketing is used both to increase sales of an existing product and to introduce new products. See alsomerchandising.
Peer-to-Peer is here to stay (as it's always been)...
But there remain critical elements of that interaction yet to be properly addressed by this new landscape:
Finding Roots in a Shifting Landscape: Facebook and the Future of Social Networks
Time well spent. Really great talk if you want to get a handle on social media uses, value and future. Sparky, interesting, stimulating. Thanks Fora, thanks Scott Galloway.
My only question would be :Facebook, with 10 percent of all time spent on the internet, valued at 50 billion and growing, worth more than Time Warner, Boeing etc etc, how come with such a value facebook can't employ talent or creativity on a par with those companies? Compared to those companies how difficult is it to create decent page designers and coding? Not all are Steve Jobs when it comes to design and function. With such a valuation, why shouldn't users expect the platform to be far more ambitious and provide far more useful settings for the user. The advantage of being first out of the blocks does not mean they have a clear idea of where they want to go. Expecting facebook to become the main platform for the web is quite worrying because it has shown some very poor decisions recently in changes to the platform.