Posts Tagged ‘Strategy’

Twitter, advertising, television, and #secondscreen experience

May 22, 2013

I asked Mr. T.J. Adeshola, an account manager with Twitter, to speak with my Social Media class and he graciously agreed (T.J. and I were classmates together in graduate school at the University of Georgia- we even co-authored a paper about blogging).

I wanted to share some of his (wait for bad Twitter pun) “TWinsights” with you.

Adeshola, whose clients include ESPN (his former employer), Anheuser-Busch (parent company of Bud Light), and Forman-Brown (makers of Jack Daniels), among others, said that many of the brands he works with understand the importance of being in the social space but often want advice on how to execute best practices and content strategies.

Adeshola works with advertisers to amplify their messages on the platform using Twitter promoted products in the forms of promoted tweets, promoted accounts and promoted trends. While Twitter users want to know how to get verified and how to get more followers, brands are the same way, Adeshola said. They often utilize Twitter to broaden their follower base so that they can create a contingent brand advocates on the platform.

He said that the hashtag is “an aggregation of conversation” and as such no one can really “own” a hashtag per se.

There’s no specific number of tweets it takes in order to trend. “If there’s a huge event (i.e. Grammy’s) that day, it becomes more difficult for topics unrelated to that event to trend nationally. For example, there were over 24 million tweets during the Superbowl! As you can imagine, that much volume can make it difficult for a non-Super Bowl related hashtag to trend organically,” Adeshola said.

Adeshola said that companies try to incorporate social strategy as part of an overall integrated strategy (“to sprinkle some social juice on it,” as he puts it). Social shouldn’t be viewed as a singular approach, however, Adeshola cautioned.

“The idea is not to look at all social channels as one big platform,” he said. “You guys go to Facebook for different reasons than you go to Twitter, or for different reasons than you go to Pinterest or for different reasons than you go to Instagram and that’s something everybody needs to keep in mind at all times. When you’re looking at types of engagement that occur on Twitter, they’re different than the types of engagement that occur on Facebook.”

Aware of the prevalence and influence of TV and how many shows are already using Twitter hashtags to promote their shows, Adeshola said that Twitter provides the perfect “second screen” experience for viewers.

makeitplatinum
“We believe that we are the ideal second screen experience so with that we are the perfect extension of television, so if BudLight Platinum has a commercial and they say Make It Platinum, which is a hashtag they utilize, Twitter is the destination for conversation around the advertisement, so our goal is to step in as a companion and help amplify these initiatives,” Adeshola said.

The Bird is ever mindful to not just be a “one trick pony” so the popular Social Networking Site is looking to evolve the platform and services with television a natural place for future synergies, Adeshola said.

“Shows want an extension of their show to live elsewhere,” he said. “They want companion interaction, they want companion engagement. The great thing about that is that Pretty Little Liars might end, but the hashtag that’s used within the show organizes all of the related conversations on Twitter, so it’s really the perfect play for advertisers, marketers and content providers alike.”

** Update: On May 23, Twitter announced TV ad targeting similar to what Adeshola was describing, as illustrated in the video below**

Note: I’m cross-posting this on geoffreygraybeal.com AND my Social Media Class’ Digital & Social Media Literacy blog.

Wireless devices disrupt newspapers

October 4, 2011

“The faster the disruption of print by tablet happens, the faster newspaper owners can jettison print expenses and get closer to sustainable (but not yet proven) mainly-digital business models.”

-Ken Doctor, newsonomics blog post

Newspaper executives and industry observers are starting to pay attention to two significant developments that are altering their business: disruption and the continued emergence of wireless mobile devices (specifically smartphones and tablet devices).

In a blog post on “the newsonomics of disruption,”  digital news analyst Ken Doctor writes about tablet disruption of tablet, tablet disruption of laptops, tablet disruption of smartphones and most importantly, local news disruption and tablet news disruption.

“Digital disruption is now increasing,” according to Doctor. “Audiences are even more up for grabs than they were a couple of years ago. Advertising and sponsorship dollars, pounds and euros, are also being more greatly swayed by these disruptive winds than they were in 2009.”

In an article first published in Editor & Publisher and republished on his Reflections of a Newsosaur blog, Alan Mutter writes that “publishers have not failed to embrace disruptive experimentation because they are not smart enough to do so. The video embedded below (note: also embedded on this blog) is proof that the folks at Knight Ridder in 1994 had a pretty good idea of what the future might hold. But the newspaper business historically was so successful that publishers didn’t need, or want, to change much about it. Consequently, risk-taking and experimentation took a back seat to business as usual. ”

“With print circulation and advertising revenues falling to ever-lower lows for each of the last five years, newspapers now must find new ways to cost-effectively create content; build new web, mobile and social audiences, and monetize their traffic as profitably as Facebook and Google do,” Mutter continues. “To do that, they will have to bring the creative chaos of Silicon Valley into every corner of their businesses. This means launching multiple, carefully planned initiatives across the full array of print and digital media.”

These newspaper disruptions brought on by wireless mobile devices is precisely what I’m looking at for my dissertation.  I’m interested not only in the disruption to newspaper business models, but what publishers are doing about it.  A good headline for an article about my work would be “Wireless devices disrupt newspaper business models, publishers respond.”

Here’s a brief summary of my ongoing dissertation research:

Firms are now operating in hypercompetitive, emergent, dynamic, unstable, highly volatile environments in which a sustained competitive advantage may no longer be possible.  Disruptive innovation (disruption) may alter not only business models, but the strategic processes used to address the disruption.

Disruptive innovation can either disrupt or sustain a firm or industry either through business model innovations or radical product innovations.  There is not one clear definition for business models, but revenue streams and consumer values are vital to most business-model concepts.  Circulation revenue and advertising in print have long made up the traditional newspaper business model now being disrupted by the Internet and mobile devices. Whereas the Internet served as the first wave of disruption to newspaper business models, wireless mobile devices represent a second wave of disruption.

Newspapers are now experimenting with emerging models for online and mobile content, but have a history of failing to act on risk-taking experimentation that brings about change even though companies like Knight Ridder designed a futuristic tablet nearly two decades ago that closely resembles today’s iPad, and other newspaper companies commissioned a group to address disruption.  Wireless mobile devices have emerged as a critical news delivery platform and offer potential to newspapers at the same time as they continue to disrupt existing newspaper business models.

The highly uncertain “emergent” disrupted environment, characterized by evolving business models, unclear industry boundaries, new competitors and consumer preferences that are not well known, can have a dramatic impact on the managerial process of newspaper managers.  Newspaper managers’ decision speed, participation, comprehensiveness, and perceptions of the environment can affect the business model implemented to address business model innovation in order to gain a competitive advantage.  My dissertation explores these internal strategy processes newspaper executives are using to develop strategies and tactics to address mobile disruption.

 

The Future of Media

April 20, 2010

The future of media may well be in your hands.  I’m talking, of course, about mobile devices.

For a variety of reasons, consumers and businesses alike appreciate the new opportunities mobile either offers, or will offer, distributors and consumers of media content.

Mobile devices offer users personalization, portability and constant connectivity, the ability to socialize and share content, interactivity, participation, and engagement.  Mobile devices offer media distributors the ability to provide these features to users, but also the potential to provide unique, geo-targeted, local, community-focused, monetizable content for all of its clients (readers/viewers/listeners and advertisers).

With mobile devices poised to be a “game changer” for news and entertainment industries in the near future, there was little surprise that “mobile” was a focal point of discussions at the National Association of Broadcasters’ annual convention and the Broadcast Education Association conference, both held last week in Las Vegas, Nevada.

I attended many sessions where mobile was front and center.  Mobile offers exciting new areas for entertainment (Mobile DTV, smartphone apps), as well as newspapers, radio and television news, and for advertisers.

I’ll report a few highlights from some of the managerial-oriented sessions, where business models, monetization and strategy were key themes.

“The mobile device has the opportunity to reset the revenue models because the ability to do the transactions on a mobile device is very seamless, it’s very easy,” said Greg Philpott, president and founder of mDialog, which has built an ad platform to monetize HTML-5 videos.

Mobile gives individuals the ability to have their own screen wherever they are, Philpott said.

Mobile devices will allow content owners to charge advertisers a higher CPM that’s trackable, actionable and measurable, Philpott predicted.

Bob Hildeman, CEO of Streambox, said that said media outlets still face a challenge getting consumers willing to pay for content.

Media outlets are still grappling with how to do so, but many believe consumers are better conditioned to pay for content on their phone, than they are online.

“We’re growing this audience but we’re not monetizing it,” said Lance Richard, Entercom Communications’ vice president of digital sales for over 110 radio stations and their Web sites in 23 media markets. “We’ve got to figure that piece out… A lot of our focus is figuring out how to monetize that stream.”

Advertising revenue should grow on mobile devices, said Tom Kenney, president of Verve Wireless, which designs mobile news applications for many leading news agencies.

“Mobile advertising now is starting to take off,” Kenney said. ” The thesis behind Verve is that the mobile Web is a new medium and could potentially be the most important medium in a few years and ultimately it’s a local (emphasis mine) medium.”

The idea of consuming digital media with your hands is such a transformation from the norm that providing similar experiences on multiple platforms is going to be key for media outlets going forward, said Kinsey Wilson, senior vice president and general manager of digital media for the not-for-profit NPR.

NPR’s Web site won a  prestigious Peabody Award (housed at my University I might add!)  for general excellence this year and their app for the iPhone and iPad are constantly ranked by users as being one of the best smartphone apps for news.  Mobile devices allow for media outlets to strategically shift their offerings from platform to platform.  While NPR does offer live streams of their radio programs on the apps, written breaking news headlines are the most popular feature, Wilson said.

Overall, media outlets face a shifting environment in which smartphones will outpace the sales of desktops by 2011, according to IT firm Gartner.

Futurist Tomi Ahonen posits that mobile is the 7th medium following print, recordings, cinema, radio, TV, and Internet.

At the end of 2009, two thirds of the world’s population were using mobile phones, according to the European Information Technology Observatory.

There are now more mobile devices in the world than there are TVs, radios, and computers.

While there are many remaining questions about the mobile strategies media outlets will choose to implement, one thing is clear.  The future of media is one you can hold onto.