Innovate or Die

By Michelle Lemmon

If you’re a content creator, musician, artist or entrepreneur take note: Digital is the future and it’s not going anywhere.

Here’s Part 2 of our Digital Media Summit round up. Read Part 1 here.

In the panel on Going Social Live: Real Time Marketing and Engagement moderator Monica Cravotta revealed that, 82% of consumers like reading branded content when it’s relevant.

If the current social currency in the digital space is ATTENTION and only those with remarkable and relevant content will be able to capture our attention.

Shing also reminded us that context matters as we buy emotionally and justify rationally.

Another point to add in the relevancy arena, Reddit General Manager, Erik Martin revealed via fireside chat that even the most popular thing on reddit has a high turnover rate. Something is only at the top for a couple hours and then is replaced with the next thing.

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With over 600 new communities on Reddit everyday, there is a community for just about everything.

There is no secret sauce or recipe to success in the digital and  social market but one of the things to keep in mind is that those who don’t adopt or innovate content or technology may get left in the preverbal dust not having kept up with the FOMO or YOLO of their times.

One of the biggest fears in the world (no it’s not snakes) is the fear of failure. It prevents us and businesses from truly reaching our/its true potential.

Fail forward was a word combo used a lot throughout the day.

Whether it was Shaprio preaching that, “you learn from your failures not from your success” or Umang Shah telling us not to be afraid in his GQ’esque five do’s and don’ts for brands in the social space. We often have this immediate reaction to be afraid of the social space because we can’t control the conversation.

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Umang Shah, Director of Social Strategy for Walmart.

While fortune 500 companies might be sitting around the board room table pondering what an Instagram heart, Snapchat message, Vine happy face or Pinterest pin is worth, Gary Vaynerchuk said it best when he proclaimed, “just because there isn’t an ROI at this exact moment doesn’t mean it’s not worth doing.”

Whether it was Vaynerchuk being so bold as to say 99% of people/companies do not market in the year we live in (true, why are we always behind the times?) or Whurley from Chaotic Moon taking us through the five types of risk (I still can’t believe their lawyers let them taser a staff member with a drone prototype) or Shing reminding us to fail forward, we are far from mastering this ever changing digital space.

There is no ten step handbook on how to reach the masses through digital or social media. Which let’s be honest, makes it a little more intriguing.

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Interesting side note, Apple was not the brand than kept coming up in peoples presentations as the industry leader with best practices, instead the guest of honour getting high praise from nearly all of the presentations referencing the company of doing it right is Amazon.

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