» Chicago Bears http://www.brandsareopinions.com Mon, 19 Dec 2011 04:41:42 +0000 en hourly 1 http://wordpress.org/?v=3.1.3 It Might Not Make Sense to You, But The Virtual Marketplace Makes Serious Cents http://www.brandsareopinions.com/it-might-not-make-sense-to-you-but-the-virtual-marketplace-makes-serious-cents/ http://www.brandsareopinions.com/it-might-not-make-sense-to-you-but-the-virtual-marketplace-makes-serious-cents/#comments Mon, 22 Feb 2010 06:17:57 +0000 Dennis Ryan http://www.brandsareopinions.com/?p=4642 Continue reading →]]> I don’t play Farmville on Facebook.  I’ve never bought into the Second Life phenomenon or spent any time in World of Warcraft.  And I don’t remotely understand why you would pay to ‘send someone a drink’ on a social network, spending real world cash on a make-believe margarita…

But even though I don’t, millions of people do.  According to Inside Network, the virtual goods market in the U.S. may hit $1.6 billion this year, an estimate that’s a full 160% increase from last year.  Worldwide, that figure could be as high as $10 billion, most of it powered by the confluence of gaming and social networks.  If you need any more evidence that its a new world for commerce, tell that number to Detroit.

Social Network, check. Busty Cyborg Babe, Check.

Virtual Gaming? Check. Busty Cyborg Babe? Check.

I learned all of this through this Yahoo blurb from Forbes.com, which describes how an Australian grad student paid $26,500 for a virtual island within the virtual world Entropia.  That sum puts him atop the Guinness Book for the most valuable virtual object in the world.  It also put him squarely atop my personal dork-o-meter…

–until I read on and learned that he in turn, taxes virtual hunters who use his virtual island game preserve for real world money that currently equals about $100,000 a year.  Suddenly, he looked like a cagey new economy speculator.

Like so many other aspects of modern commerce, what I think doesn’t matter nearly as much as what the market will bear.  So while it doesn’t make a lot of sense to me to spend a few bucks on a piece of make believe armor or a guernsey cow, to the millions who take part in these onlne communities, spending a few hundred bucks to buy a ticket, park your car and freeze your butt off at a Bears game probably makes even less sense.  All things considered, I’d have to admit they’re right.

These micro-economies are simply updates on old favorites like dropping a few quarters in a jukebox or sending someone a postcard.  Individually, they’re frivolous fun.

But collectively, they can wield serious economic clout.

By Dennis Ryan, CCO, Element 79
]]> http://www.brandsareopinions.com/it-might-not-make-sense-to-you-but-the-virtual-marketplace-makes-serious-cents/feed/ 1 Advertisers Will Thrill That 20% of Tweets Reference Brands… http://www.brandsareopinions.com/advertisers-will-thrill-that-20-of-tweets-reference-brands/ http://www.brandsareopinions.com/advertisers-will-thrill-that-20-of-tweets-reference-brands/#comments Tue, 15 Sep 2009 05:52:39 +0000 Dennis Ryan http://collective-thinking.com/?p=3487 Continue reading →]]> One In Five Tweets References a Brand

One In Five Tweets References a Brand

…but really, that’s hardly surprising.  As a culture, what do we share?  The Chicago Bears? Republican or Democratic politics?  American Idol?

The simple truth is that one thing all Americans have in common, regardless of gender or age or race, is our firsthand knowledge of brands.  Listen to the material of any stand up comic; chances are, nearly a third of it revolves around brand advertising and marketing messages because they act as a touchstone to help comedians connect with their audiences.  Brands are opinions and though we might not always be informed, Americans always have opinions they are always willing to share.

But once again, this study from some researchers at Penn State raises an issue many advertisers would rather not address as it relates to their place within social networks.  Yes people may be mentioning your brand by name on Twitter, but does that constitute a selling opportunity?  Maybe the people involved are just connecting over common ground, a common opinion they hold.  Perhaps they are using your brand to serve a social interaction.  In that case, does it make sense to try to sell them?

Or does it make more sense to listen?  And observe?  And learn?

In this ecosystem, we’re best following the guidelines of the responsible naturalist: leave only footprints.

By Dennis Ryan, CCO, Element 79
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