How Social Media Can Save the Newspaper Industry
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Prepared this short slide show for my co-workers about how newspapers should be using social media tools to leverage their existing properties to connect with the community.
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How Social Media Can Save the Newspaper Industry
- 1. Looking Back
- 2. How did we get to the point that we're at today?
- 3. Saving The Newspaper Industry Love Your Audience
- 5. Facebook has over 300,000,000 users 71% of Gen Y are online more than 2 hours each day 48% spend that much time watching television More than 1,500,000 pieces of content are shared on Facebook. DAILY
- 6. Today, I'm proud to say that we have been serving well over a billion views a day on YouTube. - Oct. 9, 2009 YouTube is the world's second largest search service
- 7. Dell claims to have earned $3 million via Twitter Twitter's growth in the last year has been over 1,000%
- 9. Janis Krums snaps a photo with his iPhone from a passenger ferry and uploads it to TwitPic There's a plane in the Hudson. I'm on the ferry going to pick up the people. Crazy Iranian election was so big on Twitter, the federal goverment asked the company to make sure service stayed up and available. All Iranian election news was pushed aside when news of Michael Jackson's death took over. The Real-Time Web
- 10. The mobile device will be the world's primary connection tool to the Internet in 2020 The computer in your cell phone today is a million times cheaper and a thousand times more powerful and about a hundred times smaller Than the one computer at MIT in 1965 93% of US adults own a cell phone
- 11. How many text messages does the average American teen send each month? a. 584 b. 1,150 c. 1,612 d. 2,272 Brady James of Los Angeles, CA sent 217,541 text messages in March 2009 Who are you trying to reach?
- 12. 24 of the 25 largest newspapers are experiencing record declines in circulation Television advertising revenue is down over 10% Radio advertising revenue is down over 11% Magazine advertising revenue is down almost 15% Online advertising revenue is up over 9% Mobile advertising is up over 18% 47% of broadcast television viewers say they would pay for ad-less programming. Is the future Ad-less?
- 13. There are over 200 million Blogs 54% of bloggers blog or tweet daily 25% of search results for the World's Top 20 brands are links to User-Generated Content 34% of bloggers post opinions about products & brands
- 14. Can we afford to not participate?
Editor's Notes
- Newspapers today are purchased on average in only 33 out of every 100 American households, as compared with 98 homes in 1970 and 53 households as recently as 2000. Don’t blame the economy for something that has been under way for decades – or expect things to get better when the economy recovers. On April 1 publishers can count a paper costing as little as a penny as a fully paid copy by the Audit Bureau of Circulations. Previously, publishers had to charge at least 25% of the cover price for a paper for it to count as paid. This change means that the dismal circulation numbers announced are potentially bleaker than they otherwise would appear to be.
- We stopped listening to our customers. We thought we knew what they wanted. How can we fix it...
- It doesn't matter how big or small your audiece is, just love them. If your audience was just your close friends, how would you treat them? Why aren't you treating your audience that way now. How would things change if you treated your audience better?
- Why would anyone use social media? 1. Reputation management 2. Customer Service 3. Generating Buzz 4. Branding How? 1. Building a community (loyalty) 2. Thought Leadership 3. Become known as an expert 4. Get to know more prospects
- The #1 referrer to CNN is Facebook. The New England Patriots main fan page is now hosted on Facebook. Facebook serves over 200 billion pages per month. Facebook has roughly 20 billion photos Digg says that 40% of their members sign in using Facebook Connect
- You tube hosts well over 100 million videos. Have you been Rickrolled? So have 40 million other people.
- The account — unmistakeably commercial, no celebrities — now has 600k followers, “close to the top 50 most followed Twitter users according to TwitterCounter, sharing the stage with brands like @Zappos … , @JetBlue and @WholeFoods.” Their strategy? You won’t need to write this down: “… by offering a mix of Twitter-exclusive offers, Dell Outlet deals and Outlet-specific updates and information.”
- The personalised newspaper displays news items and blog posts from people you follow on Twitter, sorted by how recent they are how often they've been tweeted. "From the massive volume of daily news the most interesting ones are those actively discussed by people you follow, your friends, respected persons and celebrities you admire. This is the most effective filter,"
- If Twitter has roughly 18 million users that are tweeting at least once a month, how can any news agency or search engine hope to keep up with that many eyeballs? http://mashable.com/2009/09/14/twitter-2009-stats/
- About ¼ of Facebook users connect via mobile phones. About ¾ of Twitter users are mobile. How does instant mass-communication impact your business model?
- That's an average of 75/day In a 16 hour day, that's 5/hour (1 every 12 minutes)
- Should we still be looking at the advertising model as the answer to all our problems? Gen Y has said over and over that they see no reason to pay for things like news.
- Chances are, there's a conversation going on about your product, brand, or even you personally. What are they saying about you? Begin by listening.
- How are we engaging with our customers? How do we reward our best customers? How are we leveraging our position as a local leader? How are we connecting people? How are we helping?