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The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
The social opportunity - how the evolution of media from mass to social changes everything
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The social opportunity - how the evolution of media from mass to social changes everything

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  • 1. The  social  opportunity  -­‐  how  the  evolu4on  of  media  from  mass  to  social  changes  everythingFebruary  2012Nick  Blunden  |  Global  Managing  Director  &  Publisher  |  Economist.comE:  nickblunden@economist.com  |  M:  +44  7968  838933  |  T:  @nickblunden
  • 2. It  is  a  par4cularly  appropriate  4me  to  be  talking  about  the  impact  of  social  media “There  are  reasons  to  bet  Facebook  will   jus5fy  the  hype,  for  it  has  found  a  way  to   harness  a  prehistoric  ins5nct.  People  love  to   socialise,  and  Facebook  makes  it  easier.”   The  Economist  (Feb  2012)Source:  The  Economist
  • 3. On  September  3rd  1833  Benjamin  Day  changed  the  course  of  history The  Sun  New  York Mix  of  crime  reports  and  human  interest The  first  ‘penny’  press,  the  first  mass  media Circula4on  of  15,000Picture  credit:  h3p://en.wikipedia.org/wiki/The_Sun_(New_York)
  • 4. Mass  media  has  gone  on  to  shape  almost  every  aspect  of  the  modern  world Mass  produced  products,  marketed  to  mass   consumers,  through  mass  mediaPicture  credit:  h3p://www.flickr.com/photos/pinA1/5336450223
  • 5. During  the  dotcom  boom  the  web  threatened  to  turn  both  media  and  marke4ng  upside  down “This  is  a  historic  moment  in  which  new   media  has  truly  come  of  age.”   Steve  Case,  co-­‐founder  of  AOLSource:  h3p://www.nyAmes.com/2010/01/11/business/media/11merger.html
  • 6. However,  at  least  ini4ally  the  web  turned  out  to  be  mostly  just  another  media  channel “The  web  we  know  now,  which  loads  into  a   browser  window  in  essen5ally  sta5c   screenfuls,  is  only  an  embryo  of  the  web  to   come.”  Darcy  DiNucci  (1999)Picture  credit:  h3p://www.flickr.com/photos/francescomincioM/3199438397/
  • 7. But  the  rise  of  social  media  has  finally  ini4ated  the  profound  change  we  were  promised “It’s  a  story  about  community  and   collabora5on  on  a  scale  never  seen   before...It’s  about  wrestling  power  from  the   few  and  helping  one  another  for  nothing  and   how  that  will  not  only  change  the  world  but   also  change  the  way  the  world  changes.”   Time  Magazine  (Dec,  2006)Picture  credit:  h3p://www.facebook.com/note.php?note_id=469716398919
  • 8. This  social  revolu4on  is  clearly  not  just  a  passing  fad,  it  is  a  global  phenomenon Fastest  growing  social  networks 1.  Google+ 2.  Sina  Weibo  (+181%) 3.  Tumblr  (+172%)Picture  credit:  h3p://www.burson-­‐marsteller.com/InnovaAon_and_insights/Thought_Leadership/default_view.aspx?ID=44
  • 9. Social  media  is  enabling  the  crea4on  of  ‘media’  on  an  unprecedented  scale “The  gap  is  between  doing  anything  and   doing  nothing.  And  someone  who  makes  a   LOLcat  has  already  crossed  over  that  gap.”   Clay  Shirky,  Cogni4ve  SurplusPicture  credit:  h3p://icanhascheezburger.com/2007/01/24/trashcat-­‐is-­‐not-­‐amused/
  • 10. The  par4cipa4on  inherent  in  social  media  has  the  poten4al  to  revolu4onise  everything “A  revolu5on  doesn’t  happen  when  society   adopts  new  tools,  it  happens  when  society   adopts  new  behaviours”   Clay  Shirky,  Here  Comes  EverybodyPicture  credit:  h3p://blogs.lse.ac.uk/polis/2011/09/16/social-­‐media-­‐why-­‐its-­‐useless-­‐for-­‐democraAc-­‐poliAcs-­‐usipblogs-­‐arabspring/
  • 11. Social  media  has  already  revolu4onised  the  news  and  current  affairs  business Top  Twiger  hashtags  of  2011 1.  #egypt  2.  #4gerblood  3.   #threewordstoliveby  4.   #idontunderstandwhy  5.  #japan  6.   improudtosay  7.  #superbowl  8.  #jan25Picture  credit:  h3p://www.guardian.co.uk/theguardian/2011/dec/13/guardian-­‐weekly-­‐news-­‐review-­‐2011
  • 12. This  social  par4cipa4on  in  media  has  forced  us  to  rethink  the  way  we  create  our  content “They  [readers]  don’t  just  consume  news,   they  share  it,  develop  it,  add  to  it  -­‐  it’s  a  very   dynamic  rela5onship  with  news” Arianna  Huffington,  Founder  Huffington  PostPicture  credit:  www.economist.com
  • 13. Social  par4cipa4on  in  media  is  also  changing  the  way  we  think  about  content  distribu4on “If  searching  for  news  was  the  most   important  development  of  the  past  decade,   sharing  news  may  be  among  the  most   important  of  the  next”   Pew  Research  Centre’s  Project  for  Excellence   in  JournalismPicture  credit:  www.twi3er.com/TheEconomist
  • 14. Perhaps  most  importantly  social  par4cipa4on  in  media  is  changing  the  role  of  our  journalists   “The  role  of  journalists  in  this  new  world  is  to   add  value  to  the  conversa5on  by  providing   repor5ng,  context,  analysis,  verifica5on  and   debunking,  and  by  making  available  tools   and  plaKorms  that  allow  people  to   par5cipate” Jeff  Jarvis,  What  Would  Google  Do?Picture  credit:  www.economist.com
  • 15. Fundamentally  social  media  is  not  undermining  The  Economist  business  it  is  turbo-­‐charging  it The  world’s  most  valuable  community  for   intelligent  analysis,  discussion  and  debatePicture  credit:  The  Economist
  • 16. But  social  won’t  just  revolu4onise  media,  it  will  fundamentally  transform  marke4ng  too “We’re  going  through  a  revolu5on  a  whole   lot  like  the  Industrial  Revolu5on.  The  change   is  that  profound.” John  Hayes,  CMO,  American  ExpressSource:  h3ps://www.mckinseyquarterly.com/How_we_see_it_Three_senior_execuAves_on_the_future_of_markeAng_2835
  • 17. To  harness  the  true  poten4al  of  this  profound  social  shim  we  need  to  think  differently “Say  goodbye  to  posi5oning,  preemp5on  and   unique  selling  posi5on.  This  is  about  turning   everything  you  understood  about  marke5ng   upside  down  so  that  you  can  land  right  side  up.” Bob  Garfield  and  Doug  Levy,  Ad  AgeSource:  h3p://adage.com/arAcle/news/dawn-­‐relaAonship-­‐era-­‐markeAng/231792/
  • 18. We  should  start  by  adop4ng  a  more  sophis4cated  social  model  of  human  behaviour “We  are  not  a  species  of  independent,  self-­‐ determining  individuals,  whatever  our  brains   and  our  culture  tell  us  …  Most  of  our   behaviour  is…the  result  of  our  interac5on   with  other  people  because  we  are  a  super   social  species.  A  herd  animal,  if  you  like.  We   do  what  we  do  because  of  those  around  us.”   Mark  Earls,  HerdPicture  credit:  Castle  Rock  Entertainment
  • 19. “The  first  follower  is  actually  an  underes5mated   form  of  leadership  in  itself.  It  takes  guts  to   stand  out  like  that.  The  first  follower  is  what   transforms  a  lone  nut  into  a  leader.” Derek  SiversVideo:  h3p://www.ted.com/talks/derek_sivers_how_to_start_a_movement.html
  • 20. We  need  to  recognise  the  cri4cal  role  that  certain  groups  of  people  play  in  influencing  others 1:1.  The  leaders The Leaders 9:9.  The  advocates The Influencers 90: The mass 90.  The  Masses “Luckily,  while  the  digital  revolu5on  was   undermining  Mass  it  was  also  supercharging   human  nature.” Bob  Garfield  and  Doug  Levy,  Ad  AgeSource:  www.profero.com
  • 21. We  need  to  accept  that  in  an  ‘always  on’  world  conversa4ons  are  beger  than  campaigns “Conversa5ons  among  the  members  of  your   marketplace  happen  whether  you  like  it  or   not.  Good  marke5ng  encourages  the  right   sort  of  conversa5ons.”  Seth  Godin,  Permission  Marke4ngPicture  credit:  www.economist.com
  • 22. We  need  to  value  par4cipa4on  and  collabora4on  even  when  it  means  risking  some  control “Consumer  engagement  with  our  brands  is   ul5mately  what  were  striving  to  achieve.   Awareness  is  fine,  but  advocacy  will  take   your  business  to  the  next  level”   Joe  Tripodi,  CMO,  Coca-­‐ColaPicture  credit:  www.energyville.com
  • 23. We  need  to  focus  more  on  engaging  specific  communi4es  and  less  on  reaching  ‘consumers’ “Social  Media  have  taken  the  solid,  dependable   old  tortoise  -­‐  word  of  mouth  -­‐  and  transformed  it   into  countless  hares,  mul5plying  like,  well  hares”   Bob  Garfield  and  Doug  Levy,  Ad  AgePicture  credit:  h3p://slice.co.uk/our-­‐work/nike-­‐human-­‐race
  • 24. We  need  to  think  about  crea4ng  value  exchange  rather  than  just  disposable  adver4sing “You  can’t  just  buy  aVen5on  anymore.   Having  a  huge  budget  doesn’t  mean  anything   in  social  media…The  old  paradigm  was  pay  to   play.  Now  you  get  back  what  you   authen5cally  put  in.  You’ve  got  to  be  willing   to  play  to  play.” Alex  Bogusky,  Founder  CPBPicture  credit:  www.economist.com
  • 25. And  recognise  that  in  a  hyper  connected  world  ideas  are  much  more  contagious  than  insights “It’s  not  the  consumer’s  job  to  know  what  he   wants”   Steve  Jobs,  ApplePicture  credit:  Apple  Inc
  • 26. “Thinking  really  is  connec5ng.  It’s  connec5ng   ideas  together  into  a  network.  So  that’s  why  it’s   so  fun  that  we  live  in  the  age  of  networks.” Richard  Ogle,  Smart  WorldVideo:  available  from  The  Economist  on  request
  • 27. The  social  revolu4on  is  a  once  in  a  life4me  opportunity  that  is  much  too  good  to  be  wasted “Awareness,  opinion,  considera5on,   preference  and  purchase  have  been   supplemented  by  loyalty  and  advocacy"   David  Rogers,  Execu4ve  Director  of  Columbia   Business  School  Centre  of  Global  Brand   LeadershipPicture  credit:  h3p://www.flickr.com/photos/lanier67/2291158373/
  • 28. The  social  opportunity  -­‐  how  the  evolu4on  of  media  from  mass  to  social  changes  everythingFebruary  2012Nick  Blunden  |  Global  Managing  Director  &  Publisher  |  Economist.comE:  nickblunden@economist.com  |  M:  +44  7968  838933  |  T:  @nickblunden

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