Browsing vs Buying

Disruption. It's increasingly in evidence, profound changes are happening in the fundamentals of business models. Two of the most visible ongoing disruptions may be found in publishing, the traditional ecosystems of packaged content. Clearly, the business models of legacy ventures in the music and written word spaces are broken. Leadership in those spaces may be reasonably characterized as anachronistic if not tone deaf.  My sense is the rules of engagement for all content creators are now or will soon be in a game-changing flux. Moreover, the winds of change are working against the incumbents. The words of the Drill Sergeants from my days in basic combat training are relevant here: "There are two types of fighters, the quick and the dead. Which are you?"

Music. Sean Parker made news at this years South By when he suggested Spotify would overtake iTunes, the de facto incumbent, in what they bring to the record industry. Parker said this latest sea change would happen in under two years. [Read the LA Times piece by Todd Martens here]

Written word: Full disclosure - I love books. For the first time I am no longer willing to support Barnes & Noble. It's not that I no longer enjoy browsing at their brick and mortar locations, I certainly do. It's that I no longer buy at those locations. Further, after years paying annual renewals, I'm no longer a B&N member. What benefit do I gain from paying B&N to obtain discounts which result in pricing which still exceeds that available to me via Amazon? Importantly, not only do I get the best pricing via Amazon, they are also constantly finding ways to reward my loyalty, developing creative approaches to increase the frequency/amount of my purchases. Amazon has also introduced me to new reading and purchase behaviors via Kindle. Accordingly, Amazon captures the biggest share of wallet in what is one of my top monthly expenditures.

B&N remains a special piece of retail space for me however it's no longer one where I engage in commerce but a place of serendipitous discovery and confirmation of intent. B&N has become the place I browse, Amazon the place I buy.


Robert Feder at Social Media Week - Chicago

Responsibility

...I loved so much of doing journalism but not in the old way and I was concerned about where newspapers were headed and it was clear that if the audiences, if readers are going somewhere if we want to be part of it and make it meaningful...oldtimers like us have to jump in and try to do it...

...It's up to each one of us. We're responsible now for our own education and our own brands and our own communication and our own destiny and you can't depend upon big media any longer

The analogy to all of this, I think, is it's like the old studio system in Hollywood where the studios used to be responsible for everything. They would pay the talent under contract but they would do everything. They would promote you, they would market you, they would distribute the product and all you had to do was show up and do your little piece of it and that's not viable anymore. Now, all of us are independents, all of us are responsible for our own marketing, our own distribution and really, essentially, creating our own product if we want to reach the audience that's out there now.

There's too much emphasis on the manner in which it's being put out. Setting up a blog or starting a Facebook account. To me, you should never take your eye off the quality of the content, that's what matters...I respect the opportunity that I have and everything that I write, whether it's a blog or a Twitter feed or anything, I'm mindful of respecting my audience, I want to give them something that would at least interest me, something of value, something that's meaningful. It's not just done for my own amusement or my own ego.

Engagement


...It's about engaging the reader and that's one aspect of it but it's an important part of the new media and the world that we're in and that didn't happen in old media, that didn't happen at the Sun-Times. We wrote our piece, we went home, that was it. It was a monologue delivered and that was the end of the process...people, younger people in particular, are engaged in all media they consume and that includes news and journalism and they want to be able to react, they want to be able to use it in different ways, and that's what we're affording them the opportunity to do. I'm just setting the table, I'm starting the conversation every day and what happens out there is up to the people who read it.

Twitter

There are a million reasons why I think it's crucial for any journalist or anyone in media to be part of that conversation. You are reaching the people who want to be reached by you. You are hearing from the people you want to hear from. It is so ideal. And the fact that you are limited to be concise, in 140 characters, means you have to get to the point quickly...this is a throwback to the old wire service, you have to get the message across in a very short amount of time and you can post it immediately and it's all over the world.

The thing I love to share with people is the notion of these big public events, like the Oscars, or Oprah's big finale show. You can be sitting in your living room or in your bedroom with your laptop and if you have chosen to follow the right people on Twitter, the experience is...unbelievably rich, dynamic, full experience, there's nothing like it. It's like being in a room with the smartest, funniest, most clever people you know...and they're all chimming in, in real-time, reacting to the event you're watching on your television.

...it doesn't matter who you are. That's the thing about it. It's just the quality of your content. You don't have to be affiliated with a media organization, you don't have to be anybody. If what you have to say is smart enough, clever enough, funny enough, it'll rise to the top and millions of people will see it. When has media ever been as open and democratic, ever, in history.


On statistics about Chicago social media usage. Facebook = 80% Twitter = 17%.

I think that 17% is becoming the de facto media elite because you can be relatively well informed, I guess, without Twitter but with Twitter it's turbo-charged. You're getting the benefit of the world-wide eyes and ears focused on the issues, and the people, and the institutions that you care about...there's going to be a greater divide between that 17%, unless it grows, and the rest of the people as to who's really informed and how quickly they are and how widely their source of information is.

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Any errors above are mine and mine alone. Fair warning: I made editing decisions which makes this an excerpt of Feder's comments rather than a complete transcription of his remarks. Let me suggest you view the video (link below) to gain context and a richer understanding of Robert Feder's observations.

Rob's comments were taken from his appearance at the 9/23/2011 SMW - Chicago session Reinventing a Media Career on Alternative Platforms. It was moderated by Bill Adee, Tribune's VP of Digital Stuff, and featured Robert Feder, Steve Dahl, Richard Roeper, and Nancy Loo. You may watch a video of the event here

Robert Feder writes the Chicago Media Blog at Time Out Chicago which may be found here

Zuck & Ek at f8

“This next wave of companies understands that, if you can help people discover an order of magnitude more content than they could before, that enables all kinds of new models to work, whether ad-supported or subscription”  “These companies are not just rethinking the experience of watching content with your friends. They’re rethinking these entire industries.

Mark Zuckerberg

"People discover music through their friends...Because they’re social, they’re more engaged. Because they’re more engaged, they’re also twice as likely to pay for music. Social discovery on Facebook means we’re bringing people back to paying for music again."

Daniel Ek, Spotify

My thanks to paidContent. @ F8 Can Facebook's Social Discovery Set Content Alight by Robert Andrews
http://paidcontent.co.uk/article/419-f8-can-facebooks-social-discovery-set-content-alight/

Social Update: Radio and The Facebook

The latest Nielsen data indicates Facebook continues to be, no surprise, the dominant social network.

From this morning's New York Times...

The social media brand that Americans spend the most time with, the report finds, is Facebook, by an enormous margin. During May, when the report was compiled, Americans spent 53.5 billion minutes on facebook.com from computers at home and work. (That was up 6 percent from 50.6 billion minutes in May 2010.)

“We’ve been seeing that for a while,” Ms. Subramanyam said of the dominance of Facebook in the social media realm. The reason is simple, she added: “It’s an incredibly fun way to spend time.”

Behind Facebook during May was Blogger, at 723.8 million minutes; Tumblr, at 623.5 million minutes; Twitter, at 565.2 million minutes; and LinkedIn, at 325.7 million minutes.

Seems like good and interesting data, however, let's add some perspective. With all this chatter about electronic media how does the original, the first iteration of the mass adopted electronic media platform (with apologies to the telegraph), compare these days?

Here's my back of the envelope math. Average consumption of American radio is thirteen hours per week = 780 minutes x 4 weeks = 3120 minutes x 234 million listeners = 730,080,000,000. That's what Google calculator tells me. Let's round it down the 80 million just to be safe.

FACEBOOK 53.5 BILLION MINUTES

RADIO 730 BILLION MINUTES

The first tribe of wireless appears alive and in the game. Our friends working in the radio with pictures game, TV, also put up some impressive time spent stats, to wit: 2,239,380,000,000 minutes per month (my estimate using TvB data).

Want more on social? Let me suggest these readings.


Timesman Stuart Elliott provides a good overview of the release "Report Details Rise of Social Media"

Two versions of the Nielsen data. The first is a presentation, second an executive summary.

Nielsen: State of the Media: The Social Media Report Q3 2011

Nielsen: Spending Time, Money and Going Mobile

Being the executive editor

You are dependent on this huge reservoir of talent, and your job is to create the circumstances under which they can do their best work, to reward them when they do well, correct them when they do wrong, set some guidelines, and spur their ambitions. But it's not about me. - Bill Keller

The United States of America vs. Bill Keller by Joe Hagan. New York Magazine. http://nymag.com/print/?/news/media/20334/
Thanks to Jack Shafer for sharing via Slate http://www.slate.com/id/2296114/pagenum/all/

My thanks to Patrick LaForge (http://twitter.com/palafo) for his tip on the Shafer writing.

Lessons Learned: Twitter

After 31,000 tweets and years on Twitter, here are a few lessons learned.

1. We're all making this social media stuff up as we go along. There are no rules. Be yourself. Have fun.
2. Ain't no such thing as a social media expert. Buyer beware.
3. Social networks are the real deal, the next truly big thing. It's only the dawn of the new digital day. We're now using just the first generation of platforms. Better stuff is on the way.
4. Most folks on social networks are consumers of content, the creators and curators are in the minority. Get into the conversation. Listening is important but you should also contribute and tweet.
5. What matters is who you follow not who follows you. It's your stream, cast it as you would a movie, follow those most interesting/valuable/fun to you. Don't be concerned with follow-backs only your stream. Use the Twitter "Lists" feature to create "channels of interest." Example: I've created a Twitter list of the 500 most interesting Twitter folk in my home town. When I want to know what's happening in Madison, I check that stream. I also follow Twitter lists created by others to follow breaking news, developments in tech and a wide variety of topics of interest to me.
6. Fine-tune your stream. Revisit your follows regularly. Add fresh voices (and unfollow others in real-time as you are moved to). Trust your instincts. Cognitive diversity rules!
7. Adding a pic (or some image/avatar), profile and link is important. Don't tweet without them.

At least once each day take a moment (or two) and help others. Be kind, generous. On Twitter you get what you give.

Two great resources: http://oneforty.com/ a Twitter app site. http://mashable.com/guidebook/twitter/ Mashable's Twitter Guide Book.

Finally, here's my single most re-tweeted tweet:

There are no rules on the Twitter, but here are five tips offered for your consideration: 1. Be yourself 2. Read replies, respond, engage. 3. Share the good stuff, RT and link 4. Manners matter, be nice. 5. Have fun.

But, wait, there's more. Here's an interesting writing by Andrew Phelps. Tweet late, email early and don't forget about Saturday: Using data to develop a social media strategy.

http://www.niemanlab.org/2011/03/tweet-late-and-e-mail-early-using-data-to-develop-strategy/?utm_source=twitter&utm_medium=twt&utm_campaign

Getting Different vs. Getting Better

David Rhodes, the president of CBS News, in an interview with the New York Times about his hiring of MSNBC's Chris Licht as the new vice president of programming at CBS News...

“Whats interesting about what Chris has accomplished in recent years is that it’s different,” Mr. Rhodes said, referring to “Morning Joe.” “There’s been too much energy spent in all of TV basically trying to mimic the 1995 ‘Today’ show. I think we can do something different. I think people want something different.”

Bravos to David Rhodes. That's exactly what people want, something different and it's precisely how to fix the CBS Early Show. It takes courage to break away from the pack and get different but the rewards are greater. Most prefer to play it safe and get better at a game led by others. Hugh MacLeod got it right "success has that weird quality which makes it seem like child's play after the fact, and totally impossible before" http://www.gapingvoidgallery.com/gallerycubegrenades-childsplay-p-1871.html?o...

Here's the article by Timesman Brian Stelter: MSNBC's Chris Licht to Join CBS News

http://mediadecoder.blogs.nytimes.com/2011/05/19/msnbcs-chris-licht-to-join-c...

 

How to Get the Most Out of Twitter: Engage!

There are no rules on the Twitter, but here's a tip. Engage! My experience, after 30k tweets, has taught me to appreciate five levels of engagement: 1. Clicks. 2. RTs 3. @ replies 4. Favorites 5. Follows. Each serves, in some manner, to confirm the value of your stream to others. Moreover, each can be used by you as a gesture of appreciation to others. You'll enjoy Twitter more when you engage.