Future of Media Preview: A Q&A with BuzzFeed’s Jonathan Perelman
Media leaders from across North America will join a panel discussion at Digital Journal’s Future of Media event in Toronto on March 14, and we’re happy to have BuzzFeed represented at this event. Jonathan Perelman, Vice President of Agency Strategy and Development, focuses on educating advertising agencies on the BuzzFeed platform and ad products, known as a pioneer in sponsored content.
Before joining BuzzFeed, Perelman spent six years at Google, most recently as the Global Lead for Industry Relations.
To give you a taste of what he’ll discuss on March 14, Perelman answered questions about content marketing, the rise of the mobile Web, and why it’s important to create the most shareable online content.
Explain what you do daily at BuzzFeed and what your average day looks like.
Perelman: My days are all different which makes things exciting. I spend lots of time meeting with agencies and clients, educating the marketplace on BuzzFeed, our offerings, native advertising, developing a newsroom and more. I’m working on creating deals with agencies to have an always-on strategy, as those campaigns work best. I’m also doing a lot of work building our strategy for international expansion.
I always try to keep up on what’s happening in the industry, and I’ve been doing lots of speaking engagements. I also advise a politician, involved with foreign policy groups and non-profits, involved in a few start-ups and most importantly I have a wife and two amazing boys at home.
What has BuzzFeed done with its native advertising initiatives and how would you rate its success? What metric do you use to analyze efficacy?
Perelman: The only advertising we do is native. We have never run a traditional banner ad, and firmly believe that native and content is the future of advertising. I think we’re doing a great job ;), and the growth of our business seems to prove this out. More and more agencies and brands are coming to us to get into the native ‘advertorial’ game. We have over an 80% renewal rate (advertisers keep coming back), which is a testament to how well the product works. As for measuring the success of a campaign, we are driven to create the most shareable content on the web.
Our editors are doing that with amazing original reporting, and on the business side we are doing that with captivating, shareable ads. We average a 30% earned media lift (through sharing on the social networks) for campaigns, and we’re always looking to beat that benchmark. Engagement beats scale every time in my book!
How has your experience at Google informed your work at BuzzFeed?
Perelman: Google is among the most innovative companies in the history of the world, and that spark never leaves you. I learned so much from so many people, but a quote from Larry (CEO) ‘have a healthy disregard for the impossible’ is something I think about everyday. Five years ago the notion of a self-driving car was the stuff of science fiction; it will be in a dealership near you in the next five years. You learn that it’s important to have audacious goals and shoot for the moon. Google’s an amazing place; I’m honored to have been a part of it.
When you joined BuzzFeed, you were quoted in a press release stating “BuzzFeed is providing the product that agencies and holding companies are asking for…” Can you elaborate on how BuzzFeed is doing this?
Perelman: The notion of social, content marketing is something that I was hearing more and more from agencies and brands. Many have called 2013 as the year of content marketing and budgets are growing. I saw a study recently that said 70% of companies will use content marketing this year. I think this stems from the past several years brands were driving likes and followers, doing a great job of growing a base of fans.
However, they are asking ‘now what?’ The answer is content that is shareable, that’s exactly what we are doing at BuzzFeed.
What do you see as the challenges for brands to adopt a comprehensive content marketing program?
Perelman: The biggest challenge for bands is running the first campaign. With 70% of brands expecting to do content marketing this year, that barrier will be overcome. Often a brand wants to get it 100% right the first time. Content marketing is a process and brands have to be willing to give it appropriate attention, budget and people.
Brands should have realistic expectations for these campaigns, and know the more you do, the better they become.
What ‘s the future of social advertising? Where do you think it’ll go, globally?
Perelman: I think we are finally starting to get over calling it ‘digital media’ and now just calling it ‘media’. I hope we are also close to stop talking about mobile as a separate and distinct entity. Having a mobile strategy today is like having a laptop strategy 15 years ago.
With that said, the future is the mobile web. Over 1/3 of American adults own a tablet, and in the last 7 years Android and iOS have gone from 0% to 45% of operating systems connecting to the web. North America will lead the pack, however, Europe and Australia will be right behind. Soon after that Asia and Latin America will see the value and jump in. There has never been a more exciting time to be in this industry.
The upcoming Future of Media event will take place Thursday, March 14, 2013 at Toronto’s Drake Hotel Underground (1150 Queen Street West) at 8 p.m. Doors open at 7 p.m. and admission is free and open to the public. Note: Seating is limited so it will be first-come, first-served. Previous events have hit capacity very quickly so early arrival is highly recommended.
Future of Media 2013 Speaker Bio: Jonathan Perelman
Jonathan Perelman is Vice President of Agency Strategy and Development, BuzzFeed.
At BuzzFeed Perelman works closely on all aspects of the business, with a particular focus on educating advertising agencies on the BuzzFeed platform and ad products.
Prior to BuzzFeed, Perelman spent six years at Google, most recently as the Global Lead for Industry Relations. He was responsible for brand identity initiatives and relationship management within the advertising and media industries. This also includes aligning Google’s business and public policy priorities. Google’s Operating Committee awarded the prestigious OC Award to Perelman for his work on mergers and acquisitions.
Prior to Google, Perelman worked at Financial Services firm, Unifund, and also was the Deputy Finance Director on Cory Booker’s 2002 Mayoral run in Newark, NJ. The campaign was captured in an Academy Award nominated film, Street Fight, released in 2005 Perelman is a Sr. Fellow at the Center for the Digital Future, at the USC Annenberg School. In addition, he serves on the board of Advertising Week, Ad:Tech, the International Association of Internet Professionals, along with other industry groups. He’s also an advisor to several start-ups.
Perelman is a graduate of the University of Pennsylvania with a BA in political science. He lives in New York City with his wife, Alexandra, and two sons.
Follow him on Twitter at @JPerelman