Engaging	  the	  influen,al	  in	  an	  ideas	  communityNick	  Blunden	  |	  Global	  Digital	  PublisherE:	  nickblunden@...
Un,l	  recently	  we	  lived	  in	  a	  world	  of	  rela,ve	  informa,on	  scarcity       “Eight	  years	  ago,	  in	  it...
We	  are	  now	  entering	  into	  an	  new	  age	  of	  informa,on	  abundance  “There	  was	  5	  Exabytes	  of	  inform...
The	  explosion	  in	  new	  digital	  tools	  is	  making	  media	  owners	  of	  us	  all         “All	  one	  needs	  i...
This	  is	  fundamentally	  changing	  the	  rela,onship	  we	  have	  with	  informa,on     Informa,on	  is	  no	  longer...
The	  consequences	  of	  this	  change	  in	  our	  rela,onship	  with	  informa,on	  can	  appear	  to	  be	  trivial   ...
But	  the	  consequences	  of	  this	  new	  mass	  par,cipa,on	  in	  media	  can	  also	  be	  very	  profound   “A	  re...
The	  implica,ons	  for	  tradi,onal	  media	  have	  generally	  been	  seen	  as	  profoundly	  nega,ve       “Clearly,	...
However	  despite	  warnings	  of	  informa,on	  overload	  demand	  for	  it	  seems	  to	  just	  keep	  growing “It	  i...
That’s	  because	  intelligence,	  like	  affluence,	  is	  increasingly	  becoming	  a	  mass	  phenomenon          “In	  m...
This	  is	  crea,ng	  unprecedented	  opportuni,es	  for	  the	  creators	  of	  ‘intelligent’	  media"IncepEon,	  the	  $...
In	  the	  emerging	  networked	  knowledge	  economy	  ideas	  are	  more	  important	  than	  ever        “It	  is	  rea...
And	  influence	  is	  no	  longer	  just	  about	  who	  you	  know	  but	  more	  about	  what	  ideas	  you	  have“Obama...
In	  this	  new	  ideas	  driven	  networked	  economy	  tradi,onal	  media	  and	  social	  media	  coexist“There	  is	  ...
These	  changes	  create	  huge	  opportuni,es	  for	  companies	  who	  can	  think	  beyond	  the	  status	  quo        ...
But	  we	  need	  to	  stop	  thinking	  about	  individual	  products	  and	  start	  thinking	  about	  experiences“I	  ...
Apple’s	  success	  with	  iTunes	  shows	  that	  crea,ng	  experiences	  around	  content	  creates	  value “Apple	  has...
This	  is	  why	  The	  Economist	  is	  focused	  on	  crea,ng	  a	  community	  experience	  not	  just	  a	  website   ...
A	  community	  centred	  around	  the	  needs	  of	  the	  global	  ‘ideas	  people’	  psychographic	  “People	  who	  ha...
A	  community	  centred	  around	  the	  needs	  of	  the	  global	  ‘ideas	  people’	  psychographic	      “People	  who	...
The	  sharing	  inherent	  in	  this	  community	  creates	  valuable	  social	  currency	  for	  our	  readers “If	  sear...
And	  their	  par,cipa,on,	  which	  lies	  at	  the	  heart	  of	  the	  community,	  adds	  value	  to	  our	  content“I...
Community	  fulfills	  a	  fundamental	  human	  need	  for	  belonging	  and	  recogni,on “Human	  beings	  cant	  help	  ...
Community	  also	  allows	  us	  to	  explore	  the	  changing	  nature	  of	  journalism	  in	  a	  digital	  world“The	 ...
And	  to	  harness	  the	  huge	  poten,al	  of	  word	  of	  mouth	  to	  grow	  our	  reach	  and	  influence “Social	  M...
Commercially	  community	  provides	  the	  engagement	  adver,sers	  increasingly	  demand “Consumer	  engagement	  with	...
And	  new	  marke,ng	  opportunites	  that	  go	  beyond	  basic	  display	  adver,sing “ConversaEons	  among	  the	  memb...
Community	  also	  creates	  new	  habits	  to	  replace	  the	  old	  ones	  tradi,onal	  media	  once	  relied	  on     ...
We	  believe	  that	  this	  community	  experience	  will	  also	  unlock	  new	  sources	  of	  value“The	  value	  of	 ...
And	  that	  communi,es	  built	  around	  psychographics	  are	  capable	  of	  crea,ng	  sustainable	  value“In	  towns	...
Ensuring	  that	  The	  Economist	  will	  remain	  as	  relevant	  in	  the	  future	  as	  it	  has	  been	  for	  169	 ...
Engaging	  the	  influen,al	  in	  an	  ideas	  communityNick	  Blunden	  |	  Global	  Digital	  PublisherE:	  nickblunden@...
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The Economist ideas community june 2012 final

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The Economist ideas community june 2012 final

  1. 1. Engaging  the  influen,al  in  an  ideas  communityNick  Blunden  |  Global  Digital  PublisherE:  nickblunden@economist.com  |  M:  +44  7968  838933  |  T:  @nickblunden
  2. 2. Un,l  recently  we  lived  in  a  world  of  rela,ve  informa,on  scarcity “Eight  years  ago,  in  its  heyday,  the  New  York   Times  Company  was  worth  $7  billion  and  paid  a   dividend  of  more  than  $100  million  a  year.” Henry  Blodget,  Business  InsiderPicture  credit:  h,p://www.flickr.com/photos/archivalproject/3296822880/  
  3. 3. We  are  now  entering  into  an  new  age  of  informa,on  abundance “There  was  5  Exabytes  of  informaEon  created   between  the  dawn  of  civilisaEon  through  2003,  but  that  much  informaEon  is  now  created  every  2   days  and  the  pace  is  increasing” Eric  Schmidt,  Exec,ve  Chairman,  Google
  4. 4. The  explosion  in  new  digital  tools  is  making  media  owners  of  us  all “All  one  needs  is  a  computer,  a  network   connecEon,  and  a  bright  spark  of  iniEaEve  and   creaEvity  to  join  the  economy”   Don  TapscoU,  Author,  WikinomicsPicture  credit:  h,p://www.flickr.com/photos/karola/4669292392/
  5. 5. This  is  fundamentally  changing  the  rela,onship  we  have  with  informa,on Informa,on  is  no  longer  an  asset  to  be  exploited   by  the  few  and  passively  consumed  by  the  many.   It  is  increasingly  a  universal  social  currency  that  is   ac,vely  traded  by  us  all.Picture  credit:  h,p://www.flickr.com/photos/drewm/468436732/
  6. 6. The  consequences  of  this  change  in  our  rela,onship  with  informa,on  can  appear  to  be  trivial “The  gap  is  between  doing  anything  and  doing   nothing.  And  someone  who  makes  a  LOLcat  has   already  crossed  over  that  gap.”   Clay  Shirky,  Author,  Cogni,ve  SurplusPicture  credit:  h,p://icanhascheezburger.com/2007/01/24/trashcat-­‐is-­‐not-­‐amused/
  7. 7. But  the  consequences  of  this  new  mass  par,cipa,on  in  media  can  also  be  very  profound “A  revoluEon  doesn’t  happen  when  society  adopts   new  tools,  it  happens  when  society  adopts  new   behaviours”   Clay  Shirky,  Author,  Here  Comes  EverybodyPicture  credit:  h,p://www.guardian.co.uk/theguardian/2011/dec/13/guardian-­‐weekly-­‐news-­‐review-­‐2011
  8. 8. The  implica,ons  for  tradi,onal  media  have  generally  been  seen  as  profoundly  nega,ve “Clearly,  the  sky  is  falling.  The  quesEon  now  is   how  many  people  will  be  leP  to  cover  it.” David  Carr,  Mourning  Old  Media’s  Decline,   The  New  York  TimesPicture  credit  h,p://www.flickr.com/photos/wvs/7860530/
  9. 9. However  despite  warnings  of  informa,on  overload  demand  for  it  seems  to  just  keep  growing “It  is  clear  that  consuming  more  media  and  more  entertainment,  in  a  sense,  makes  Affluents  hungry   for  sEll  more  rather  than  saEaEng  their  need.   What  beTer  news  could  anyone  in  the  media   industry  hope  for?” The  Ipsos  Mendelsohn  Affluent  Survey
  10. 10. That’s  because  intelligence,  like  affluence,  is  increasingly  becoming  a  mass  phenomenon “In  most  rich  countries,  the  old  disEncEon   between  high  and  popular  culture  is  breaking   down.” John  Parker,  ‘The  Age  of  Mass  Intelligence’,   Intelligent  LifePicture  credit  h,p://moreintelligentlife.com/story/age-­‐mass-­‐intelligence
  11. 11. This  is  crea,ng  unprecedented  opportuni,es  for  the  creators  of  ‘intelligent’  media"IncepEon,  the  $160m  auteur  vechicle  that  proves  really  expensive  movies  dont  have  to  be  stupid  to   be  successful.  Its  a  film  that  imagines  that  the   mulEplex  masses  arent  so  dumb  aPer  all.” Mark  Kermode,  Film  Cri,c
  12. 12. In  the  emerging  networked  knowledge  economy  ideas  are  more  important  than  ever “It  is  really  exciEng  when  you  think  about  the   different  way  stories  are  told  and  products  are   sold  you  are  thinking  about  a  whole  shiP  in  many   ways  of  how  we  engage  with  content.” Aleks  Krotoski,  BoradcasterVideo  available  on  request  from  The  Economist  Group
  13. 13. And  influence  is  no  longer  just  about  who  you  know  but  more  about  what  ideas  you  have“Obama  for  America  mobilized  3  million  individual   donors,  who  made  6.5  million  donaEons  totaling   $500  million  over  the  course  of  the  campaign.” Blue  State  Digital
  14. 14. In  this  new  ideas  driven  networked  economy  tradi,onal  media  and  social  media  coexist“There  is  no  point  in  geng  connected  unless   you’ve  got  something  to  say” Sir  John  Hegarty
  15. 15. These  changes  create  huge  opportuni,es  for  companies  who  can  think  beyond  the  status  quo “The  internet  is  a  connecEon  engine  and   companies  that  build  on  top  of  the  underlying   knowledge  of  that  connecEon  engine  are  going  to   be  the  ones  that  Succeed.”   Rishad  Tobaccowala,  Chief  Strategy  Officer,  VivakiPicture  credit  h,p://www.facebook.com/note.php?note_id=469716398919
  16. 16. But  we  need  to  stop  thinking  about  individual  products  and  start  thinking  about  experiences“I  think  we’ve  known  for  a  long  Eme  now  that  Starbucks  is  more  than  just  a  wonderful  cup  of   coffee.  It’s  the  experience” Howard  Schultz,  Founder  and  CEO,  Starbucks
  17. 17. Apple’s  success  with  iTunes  shows  that  crea,ng  experiences  around  content  creates  value “Apple  has  sold  over  15  billion  songs  through  its  iTunes  Store  since  its  launch  in  2003,  making  it  the   number  one  music  retailer  in  the  world” Techcrunch
  18. 18. This  is  why  The  Economist  is  focused  on  crea,ng  a  community  experience  not  just  a  website “The  world’s  most  valuable  community  for  intelligent  analysis,  discussion  and  debate  where  our  readers  benefit  as  much  from  the  experEse  of   each  other  as  they  do  from  the  experEse  of  our   journalists” Tom  Standage,  Digital  Editor,  The  Economist
  19. 19. A  community  centred  around  the  needs  of  the  global  ‘ideas  people’  psychographic  “People  who  have  new  ideas  are  going  to  show  up   in  The  Economist.  You  can  think  of  it  as  a   community  of  ideas  people  who  are  out  there   looking  for  the  next  big  thing  to  show  up  on  the   horizon  and  trying  to  figure  out  how  the  world   works.”  Richard  Ogle,  Author,  Smart  World
  20. 20. A  community  centred  around  the  needs  of  the  global  ‘ideas  people’  psychographic   “People  who  have  new  ideas  are  going  to  show  up   in  The  Economist.  You  can  think  of  it  as  a   community  of  ideas  people  who  are  out  there   looking  for  the  next  big  thing  to  show  up  on  the   horizon  and  trying  to  figure  out  how  the  world   works.”  Richard  Ogle,  Author,  Smart  WorldVideo  available  on  request  from  The  Economist  Group
  21. 21. The  sharing  inherent  in  this  community  creates  valuable  social  currency  for  our  readers “If  searching  for  news  was  the  most  important   development  of  the  past  decade,  sharing  news   may  be  among  the  most  important  of  the  next”The  Pew  Research  Center’s  Project  for  Excellence   in  Journalism
  22. 22. And  their  par,cipa,on,  which  lies  at  the  heart  of  the  community,  adds  value  to  our  content“I  enjoy  your  comments  secEon  because  of  how  well  moderated  it  is.    It  is  a  much  more  civil  place   than  most  news  sites,  it  comes  as  close  to  true   discussion  than  any  other  news  site” Katheryne  Kieser,  Economist.com  user
  23. 23. Community  fulfills  a  fundamental  human  need  for  belonging  and  recogni,on “Human  beings  cant  help  it:  we  need  to  belong.   One  of  the  most  powerful  of  our  survival   mechanisms  is  to  be  part  of  a  tribe,  to  contribute  to  (and  take  from)  a  group  of  like-­‐minded  people.”   Seth  Godin,  Author,  Tribes
  24. 24. Community  also  allows  us  to  explore  the  changing  nature  of  journalism  in  a  digital  world“The  role  of  journalists  in  this  new  world  is  to  add  value  to  the  conversaEon  by  providing  reporEng,  context,  analysis,  verificaEon  and  debunking,  and   by  making  available  tools  and  plaeorms  that   allow  people  to  parEcipate” Jeff  Jarvis,  Author,  What  Would  Google  Do?
  25. 25. And  to  harness  the  huge  poten,al  of  word  of  mouth  to  grow  our  reach  and  influence “Social  Media  have  taken  the  solid,  dependable  old  tortoise  -­‐  word  of  mouth  -­‐  and  transformed  it  into  countless  hares,  mulEplying  like,  well  hares”   Bob  Garfield  and  Doug  Levy,  Ad  Age
  26. 26. Commercially  community  provides  the  engagement  adver,sers  increasingly  demand “Consumer  engagement  with  our  brands  is   ulEmately  what  were  striving  to  achieve.  Awareness  is  fine,  but  advocacy  will  take  your   business  to  the  next  level”   Joe  Tripodi,  CMO,  Coca-­‐Cola
  27. 27. And  new  marke,ng  opportunites  that  go  beyond  basic  display  adver,sing “ConversaEons  among  the  members  of  your  marketplace  happen  whether  you  like  it  or  not.   Good  markeEng  encourages  the  right  sort  of   conversaEons.”  Seth  Godin,  Author,  Permission  Marke,ng”
  28. 28. Community  also  creates  new  habits  to  replace  the  old  ones  tradi,onal  media  once  relied  on “Habit  is  one  of  the  only  true  sources  of   sustainable  compeEEve  advantages  in  the  media   industry”Jonathan  Knee,  Co-­‐Author,  The  Curse  of  the  Mogul
  29. 29. We  believe  that  this  community  experience  will  also  unlock  new  sources  of  value“The  value  of  content  is  not  in  what  we  produce   but  in  what  it  produces:  signals  about  peoples   interests,  about  authority,  about  topics  and   trends" Jeff  Jarvis,  Author,  What  Would  Google  Do?
  30. 30. And  that  communi,es  built  around  psychographics  are  capable  of  crea,ng  sustainable  value“In  towns  and  ciEes  where  there  is  a  strong  sense   of  community,  there  is  no  more  important   insEtuEon  than  the  local  paper” Warren  Buffet,  CEO,  Berkshire  Hathaway
  31. 31. Ensuring  that  The  Economist  will  remain  as  relevant  in  the  future  as  it  has  been  for  169  years “To  take  part  in  a  severe  contest  between  intelligence,  which  presses  forward,  and  an   unworthy,  Emid  ignorance  obstrucEng  our   progress.” The  Economist  Group,  1843
  32. 32. Engaging  the  influen,al  in  an  ideas  communityNick  Blunden  |  Global  Digital  PublisherE:  nickblunden@economist.com  |  M:  +44  7968  838933  |  T:  @nickblunden
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