David Kenny on Monetizing Social Network Data
Kenny is Chairman and CEO of Digitas and is a member of the Publicis Groupe Executive Committee, the P12. He leads the Group's overall digital and interactive strategy. Beginning with his appointment as CEO in 1997, Kenny has led Digitas through a decade of evolution and growth to an industry-leading position in digital and direct marketing services. Prior to Digitas, Kenny was a senior partner in the global strategy consulting firm Bain & Company from 1991 to 1997. He was named to its Policy Committee in 1995 at the age of 33. Prior to his consulting career, Kenny held marketing and strategy positions with General Motors Corporation. Kenny holds a B.S. from the General Motors Institute (Kettering University) and an M.B.A. from Harvard Business School. He is a board member for Teach For America and a director of The Corporate Executive Board.
Kenny: The business model of social networks is still quite nascent. I’m not so sure that selling information will work, unless they do it in a way that’s not identified to the individual, because if you cross the privacy line, I think you’re going to have a real problem delivering on the promise that made social networks work. So, I think that maybe there’s some patterns they can recognize, maybe there’s some general information they can share, but I actually think what’s going to be important for social networks is that they actually find the ad units that work in the environment. So they’re helping us deliver the right messages to people who care about it and, more importantly, delivering creative that people can put on their own sites and share with their friends as a part of their own brand expression as individuals. So I think the ad units I’m clear, but I don’t think it’s going to be as simple as monetizing the data. I think we’re going to have to create more value for the users than that.
David Kenny discusses the controversial issue of purchasing buyers’ online habits.
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