ILM East 2012 took place last week in Boston, and is now one for the history books. It was definitely a fun show that really showcased the fast moving local innovations that BIA/Kelsey focuses on.
There are many learnings we can focus on as takeaways, but in the interest of good reading, how about a Top 10 list?
1- The new currencies are time, attention and clickstreams. Payments can be in pixels, Facebook mentions or points and rewards (Ted Leonsis, Vice Chair, Groupon)
2- Email is for ecommerce push; phones are for texting (Ted Leonsis, Vice Chair, Groupon)
3- Local is all about scale. And the only way to achieve scale in local is by aggregation (Jay Herratti, outgoing CEO, CityGridMedia)
4- Creating a closed loop is the path to a seamless user experience. American Express is… the acquirer, the issuer and the network. (Leslie Berland, SVP, American Express)
5- Daily deals are fun, but Big Data that combines different databases is critical for targeting users and winning loyalty (various)
6- Focus on engagement, not new customer acquisition. Loyal customers are worth 24 times more than new customers (Charlie Kim, CEO, NextJump)
7- Email fatigue is probably out there, but social media complements email, rather than kills it. They are both forms of permission marketing (Mark Schmulen, GM, Constant Contact)
8- Video is a great local medium, but offers limited inventory opportunities, and really can’t compete as a standalone with a major metro newspaper for advertising (Lisa DeSisto, VP, Advertising, The Boston Globe)
9- National brands can’t go local without a platform. Otherwise, you can’t get engagement and you’ll see high churn. (Pete Gombert, Founder and CEO, Ballihoo)
10- You can’t herd 6,000 cats and come up with a digital strategy (Adam Epstein, President, Ad Marketplace.)