From my Forbes.com blog The New Persuaders:
For better or worse, you know a company is serious about putting forward a clear image of itself when it submits to an interview with Charlie Rose.
And so on Oct. 2, Facebook COO Sheryl Sandberg and board member and uber-VC Marc Andreessen talked with the PBS journalist at the annual ad confab Advertising Week in New York, clearly in hopes of persuading brand marketers to invest much more on the No. 1 social network. Here’s a live account of what they had to say, paraphrased at times (especially when it comes to fast-talking Andreessen):
Rose asks Andreessen where advertising is heading in the Internet age.
Andreessen: People love the Internet and there’s such a powerful global phenomenon putting the world in people’s hands. We have the fundamental challenge in advertising and media: Most of the money is trapped on the wrong side. We still don’t have most of the money and advertisers moved over to online. We now can see that transition happen, particularly with mobile.
Sandberg: You went from radio to TV and print and then to online. We think Facebook represents the next stage of online and we’re still in the very beginning. Ads online today are onetime and one-way, no ongoing relationship. We’re at the very beginning of changing that. Businesses have an opportunity to change their relationships. They can establish an ongoing relationship. And members have 130 friends they can pass messages along to.
Rose: What are the challenges of mobile for Facebook?
Sandberg: Mobile is a huge opportunity for Facebook. There soon will be 5 billion phones. The engagement opportunities for us are obviously much, much higher. Our mobile users are much more engaged, and that forms the basis for monetization.
Also, the marketing messages can be put into the newsfeeds.
Rose: But does it in any way make the user unhappy?
Sandberg: We’re looking very carefully at this. We’ve been very pleased with the results. We’ve also seen a real improvement for marketers.
Rose: Has the monetization been slower than you expected?
Sandberg: Marketers understand they can’t just do the same campaigns. Then we have early adopters, and we’re working to help them understand. …
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