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Antony Mayfield

We did our best, but we were powerless to reinvent journalism - it was a digital riptid... - 0 views

paidcontent.org/...alism-it-was-a-digital-riptide

journalism disruption media internet paidcontent

shared by Antony Mayfield on 12 Sep 13 - No Cached
  • This is a very appealing metaphor, because it largely absolves anyone who was involved in the media from any blame for failing to see the writing on the wall or failing to move quickly enough to change their behavior or their corporate culture.
  • But is this true? Disruption guru Clay Christensen, also associated with Harvard, has written about how industries — including the car-manufacturing business and the steel industry — have failed to adapt because they didn’t appreciate just how disruptive new entrants or new technologies would be. And it’s arguable that the media industry in the 1990s and early 2000s also failed to appreciate just how disruptive the web would be to their business and to journalism in general. Should we blame them for that? I think we should blame them a little, and here’s why: because there were senior people in the industry who saw the disruption coming — saw it clearly, appreciated the implications, and talked about the potential damage. These weren’t voices crying in the wilderness, but fairly powerful players. To take just one example, there was Knight Ridder excecutive Kathy Yates, who ran the company’s digital unit, and eventually grew frustrated with the industry and moved on to Women.com and then CBSMarketwatch.
Maddy Wood

The Year Ahead For...Social media - Brand Republic News - 1 views

www.brandrepublic.com/...the-year-ahead-forsocial-media

antifragility Taleb social media investment digital investment trends

shared by Maddy Wood on 10 Jan 13 - No Cached
  • The Year Ahead For...Social media
  • Social media is antifragile. It is thriving in a world of increasing technological development, complexity and uncertainty.
  • In 2013, social media will
  • ...15 more annotations...
  • move rapidly towards the plateau of productivity. This makes it an exciting place to invest budgets, gain traction with consumers and achieve both business and marketing objectives.
  • THE RISE OF SOCIAL BUSINESS More companies will move beyond an experimental approach to social media.
  • PAID, OWNED AND EARNED
  • SOCIAL SOFTWARE
  • The challenge facing brands will be to successfully utilise the software to deliver real business benefit. In such a nascent industry, we can expect some trailblazers to drive competitive business advantage for their clients, while others will fail just as fast as they appeared. It will take canny observers to predict the winners and losers.
  • In such a nascent industry, we can expect some trailblazers to drive competitive business advantage for their clients, while others will fail just as fast as they appeared. It will take canny observers to predict the winners and losers.
  • The discussion about who "owns" social media will move to be focused on "how can we better colla-borate and become more open?". Human resources, customer service, insight and operations, as well as marketing, should all benefit.
  • The shift towards closer integration between paid, owned and earned media will accelerate in 2013. As social networks look for ways to monetise their audiences and brands search for more effective ways to engage consumers, there will be increased growth of paid-for social advertising. Facebook may see the lion’s share of advertising revenue but will need to tread a delicate balance between consumers’ and advertisers’ needs. Expect to see plenty of changes around the News Feed, ticker and notifications. Expect changes to the EdgeRank algorithm and key application programming interfaces. After all, if you are only "1 per cent done", there is plenty of change ahead.
  • SOCIAL MEDIA MEASUREMENT
  • THE RISE OF SOCIAL CRM
  • With the emergence of better-tracking and more useful social CRM platforms, brands can focus on finding and engaging valuable brand advocates. Turning these "superfans" into evangelists and rewarding them will move from being ad hoc to becoming part of a structured programme. In turn, consumers will become wiser about their importance to brands and look to demand a better deal in the value exchange. Expect some high-profile fallouts.  
  • BIG DATA
  • The promise of finding the needle in the haystack – the insight from the data puke – is an exciting one. The reality of looking at large volumes of social data in real time, understanding and responding to it is far more challenging. So, although 2013 won’t quite be "the year of big data", we’ll certainly see significant leaps forward.
  • Talent, expertise and creativity will be key components that will influence success.
  • the social media industry, and those brands willing to invest in it, will become stronger. Because data is accessible, points of view are shared and there is a cultural willingness to fail fast, learning from the randomness will be accelerated. In these fragile times, it’s comforting to know we may be able to rely on the antifragility of social media this year.
  • Maddy Wood on 10 Jan 13
     
    In 2013, social media will go beyond the peak of inflated expectations (pre-Facebook and Groupon initial public offerings) and the trough of disillusionment (cf. Facebook at $17 a share) and move rapidly towards the plateau of productivity. This makes it an exciting place to invest budgets, gain traction with consumers and achieve both business and marketing objectives.
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