Last week, I shared some thoughts on the next decade of social media at the 2015 Cannes Lions festival. The key points are highlighted in this Guardian article: Gone Shoppable Snackable Automated Connective Filtered Integrated Chinese Subcutaneous Empowering More coverage of the talk is available in these write-ups: “Ten social media trends that will shape marketing over the …
The title of this post is borrowed of course from the classic coming-of-age novel by S. E. Hinton. It also happens to be a great phrase to describe what’s happened to Facebook.
We published this a couple weeks ago at CNBC. Although Facebook’s IPO has been widely panned, it’s important to keep in mind that the company still has a market cap of over $65 billion – that’s pretty big. And that valuation has meaningful implications for social business.
In 2002, I was having a budget conversation with my CFO. I was general manager of the online store and we were discussing my requests for FTEs, technology upgrades, and marketing spend. The CFO asked me, “this is an online store…why do we need to spend any more money…doesn’t it run itself?” (I’m 99% sure he wasn’t joking.)
This week, news has been circulating that FMCG company Procter & Gamble will eliminate 1,600 jobs and shift more budget into digital media. The headline over at Business Insider is a bit more incendiary: “P&G To Lay Off 1,600 After Discovering It’s Free To Advertise On Facebook.”