Leventhal Monetizing Web Site Cam


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My presentation at the California Association of Museums meeting Friday, February 27, 2009, as part of the panel "Monetizing Museum Web Sites."

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Leventhal Monetizing Web Site Cam

  1. 1. James G. Leventhal Director of Development and Marketing Judah L. Magnes Museum Berkeley, CA www.magnes.org
  2. 2. Monetizing Museum Web Sites <ul><li>SESSION 7A: Monetizing Museum Web Sites </li></ul><ul><li>When it comes to generating revenue through museum web sites, there is a wide gap between expectation and achievement. Panelists will look beyond simple e-philanthropy to examine current trends and emerging techniques for monetizing museum web sites; identify common obstacles to generating income through museum web sites, and strategies to overcome them; and outline a &quot;best practices&quot; approach for California's museums to maximize their web revenue streams. </li></ul>
  3. 3. Monetizing Museum Web Sites <ul><li>I do not believe in monetizing museum web sites </li></ul><ul><li>I do not believe in museum web sites </li></ul><ul><li>I do not believe in museums </li></ul>
  4. 4. Monetizing Museum Web Sites <ul><li>I believe in the added value of museum web sites </li></ul><ul><li>I believe in building the on-line social network and additional, growing and mercurial interconnected technical resources that engage and attract audiences from the interwebs, innernetz etc. </li></ul><ul><li>I believe in the people who believe in museums </li></ul>
  5. 5. <ul><li>value . Pronunciation: ˈval-(ˌ)yü. Function: noun. Etymology: Middle English, worth, high quality, from Anglo-French, from Vulgar Latin *valuta, from feminine of *valutus, past participle of Latin valēre to be of worth, be strong — more at wield. Date: 14th century </li></ul><ul><li>1: a fair return or equivalent in goods, services, or money for something exchanged </li></ul><ul><li>2: the monetary worth of something : market price </li></ul><ul><li>3: relative worth, utility, or importance <a good value at the price> <the value of base stealing in baseball> <had nothing of value to say> </li></ul><ul><li>4: a numerical quantity that is assigned or is determined by calculation or measurement <let x take on positive values> <a value for the age of the earth> </li></ul><ul><li>…… .. </li></ul><ul><li>7: something (as a principle or quality) intrinsically valuable or desirable <sought material values instead of human values — W. H. Jones> </li></ul>Monetizing Web Sites: Adding Value
  6. 6. Monetizing Web Sites: Adding Value <ul><li>Wield. Pronunciation: ˈwēld .Function: transitive verb </li></ul><ul><li>Etymology: Middle English welden to control, from Old English wieldan; akin to Old High German waltan to rule, Latin valēre to be strong, be worth </li></ul><ul><li>Date: before 12th century </li></ul><ul><li>1chiefly dialect : to deal successfully with : manage </li></ul><ul><li>2: to handle (as a tool) especially effectively <wield a broom> </li></ul><ul><li>3 a: to exert one's authority by means of <wield influence> b: have at one's command or disposal <did not wield appropriate credentials — G. W. Bonham> </li></ul>
  7. 7. Monetizing Web Sites: Adding Value <ul><ul><li>Value </li></ul></ul><ul><ul><ul><li>Defined as goods traded </li></ul></ul></ul><ul><ul><ul><li>Defined as transactions accumulated </li></ul></ul></ul><ul><ul><ul><li>Defined as system of meaning </li></ul></ul></ul>
  8. 8. <ul><ul><li>Goods Traded: It is the transaction in which value is determined </li></ul></ul><ul><ul><li>The collection is “the goods” </li></ul></ul><ul><ul><li>Increased Value through Accumulated Transactions </li></ul></ul><ul><ul><li>Collection Feedback Adds Value!! In some cases it is THE value </li></ul></ul>
  9. 9. collections at core MAGNES WEB 2.0 HUB by Francesco Spagnolo, PhD. Head of Research
  10. 10. <ul><li>Um, museumssuck.com? </li></ul><ul><li>February 6th, 2009 </li></ul><ul><li>You want a real lesson the museum industry can learn from successful web 2.0 initiatives? Be really good at what you’re interested in and other people who are also interested in that will get excited and involved. Be really good at what you’re interested in and other people who aren’t also interested in that… will do something else. Let them. </li></ul><ul><li>Um, desuckification. TM. That sounds industry meme-worthy. It’s all the rage here in San Francisco. Being good at what you do is the new leveraged synergy. Remembering why you exist in the first place. Getting rid of the bloat and atrophy that has evolved since then. </li></ul><ul><li>Let’s have an honest moment, just the two of us: your museum sucks. Right? I’ve been there. It was all well and good when there were donors who couldn’t be bothered to notice as long as there was enough flattery and free scotch at the white tie gala. Ah, it was fun while it lasted. But now you’re in trouble, aren’t you? Mandatory furloughs. Aggressive new pie chart goals for the membership team. Renegotiating percentages with the gift shop firm. Look at the agenda from your last crisis meeting. If that meeting wasn’t fundamentally about making your museum suck less, you needn’t have bothered. </li></ul>
  11. 11. <ul><ul><li>System of Meaning </li></ul></ul><ul><ul><li>Sincere On-line Convening </li></ul></ul><ul><ul><li>Brand Enhancement </li></ul></ul><ul><ul><li>Real Social Value </li></ul></ul><ul><ul><li>Distributed Programs </li></ul></ul><ul><ul><li>General Empowerment </li></ul></ul>
  12. 12. <ul><ul><li>It’s the same as “bricks & mortar” </li></ul></ul><ul><ul><ul><li>Philanthropy is at the core </li></ul></ul></ul><ul><ul><ul><li>Earned Income is an essential loss leader </li></ul></ul></ul><ul><ul><ul><li>It’s all about conversion rates -- visitors to members to donors and volunteers </li></ul></ul></ul><ul><ul><ul><li>“ Volunteers” come more quickly </li></ul></ul></ul>How actually to MONETIZE?
  13. 13. <ul><ul><li>Philanthropy is at the core </li></ul></ul><ul><ul><ul><li>Stakeholders </li></ul></ul></ul><ul><ul><ul><li>e-Metrics </li></ul></ul></ul>How actually to MONETIZE?
  14. 14. http://www.magnes.org/ web 2.0 Like at least 1/2 of overall “visitorship” for a small-to-medium Museum is on-line? hmm.
  15. 15. http://www.facebook.com/s.php?k=100000004&id=7530101306&gr=2&a=7&sid=732b8aab0cda862f5af17ba3162a527a#/group.php?gid=7530101306&ref=ts
  16. 16. http://www.flickr.com/photos/12090437@N04/
  17. 17. http://fora.tv/partner/Magnes_Museum
  18. 18. http://twitter.com/magnes
  19. 19. <ul><ul><li>Earned Income as essential loss leader </li></ul></ul><ul><ul><ul><li>Membership </li></ul></ul></ul><ul><ul><ul><li>Merchandise </li></ul></ul></ul>How actually to MONETIZE?
  20. 20. http://www.magnes.org/support
  21. 21. http://www.brooklynmuseum.org/join/1stfans/
  22. 22. http://www.zazzle.com/magnes
  23. 23. <ul><ul><li>Its’ all about conversion rates: </li></ul></ul><ul><ul><li>Visitors to Members to Donors/Volunteers </li></ul></ul>How actually to MONETIZE?
  24. 25. How actually to MONETIZE?
  25. 26. <ul><ul><li>“ Volunteers” come more quickly </li></ul></ul><ul><ul><ul><li>“ Volunteerism” is built into on-line discovery </li></ul></ul></ul><ul><ul><ul><li>“ Subscribe” is a big word (e.g. RSS Feeds, etc.) </li></ul></ul></ul><ul><ul><ul><li>Paid subscription model is currently out-of-fashion for on-line content (Is 1 st fans an indication of change?) </li></ul></ul></ul><ul><ul><ul><li>Teach the volunteers to celebrate </li></ul></ul></ul>How actually to MONETIZE?
  26. 27. metrics: volunteers as garden
  27. 28. volunteers as radial spectrum
  28. 29. “…who our power inviters are.” volunteers as beautiful flowers
  29. 30. <ul><ul><li>Add value to collection </li></ul></ul><ul><ul><ul><li>Long Tail </li></ul></ul></ul><ul><ul><ul><li>Niche to niche </li></ul></ul></ul><ul><ul><li>Demographics? </li></ul></ul>
  30. 31. <ul><ul><li>New System of Meaning? </li></ul></ul>
  31. 32. <ul><ul><li>New System of Meaning? </li></ul></ul>“… the next generation wants to “curate” their own lives . They don’t want a museum, or anyone else, to do it for them. To meet this expectation, a museum could become a platform that enables users to access the museum’s resources to their own creative ends. Will that trump the role of museum as a traditional educator and authority figure? We may be approaching a cultural shift from museums as educators of the masses to museums as facilitators of the exchange of information and points of view . In this future, museums might play a smaller role as arbiters of what is true or correct, and a larger role as catalysts for conversation .” Elizabeth Merritt, Founding Director, Center for the Future of Museums http://www.futureofmuseums.org/thinking/blog.cfm
  32. 33. http://magnes.org/opensourceblog