Tag Archives: opportunity

The opportunity called media

Traditional media are dead. Well at least according to plenty of opinion makers they are, and have been so for many years already. And while it’s fair to say that some of them are in trouble, or at least facing a whole new series of challenges it’s clear traditional media are far from dead. I actually believe some of the biggest opportunities in communications today are in media, but it is about time to see some action.

Here’s where I believe the biggest opportunities are today in media and why I believe I think there isn’t enough focus on them today. At least not where I live – and it would be dumb to believe that what happens in Belgium is unique in the world so here we go…

Invent new ways of monetization

Instead of using old ways of making money on new media approaches. Guillaume – one of the founders of the agency I work for – once said that banner advertising is what happens when you bring the worst of traditional advertising into digital media and it’s hard to disagree with that. You don’t have to throw away old rules that proved to be working fine with traditional media and their advertising methods, but they just don’t automatically apply to everything new either. When interactive television was announced (‘click the red button’) I had high hopes for the possibilities that it would give me as a consumer… just to find out after a couple of months that tv channels were charging the exact same price of an SMS to every single interaction possible. It became clear very quickly that they had a business going that they didn’t want to lose and that their innovative development was driven by the protection of that business rather than by re-thinking the user experience in this new context. Second screen, DVR, … with every new evolution the drive to protect the old seems to be focus number 1. That’s not how it should be, no innovation will come out of that. Think first about what how you could maximize the consumer experience given a new technology, and then think of (new) ways of making money with that.

Understanding second, third, … screen

Second screen is most of all linked to the television experience. Which is logical, although I wouldn’t make it something exclusive to television either. But that’s not the point I want to make here. There are plenty of second screen experiences available for television stations all over the world as we speak, and yet most of them seem to resolve around taking some kind of advantage of the Twitter activity around the show, possibly combined with some additional content. Other kinds of interaction? Not so much. I find that amazing, especially because there are examples out there of really cool ideas on how to use the second, third,… screen(s) available.

I’ve written about this before, but Kevin Slavin has probably said some of the smartest things I’ve ever heard about this second screen experience. (He has said some of the smartest thing I have ever heard full stop.) Knowing that he is responsible for some of the coolest second screen (avant la lettre) cases ever, it’s silly no to listen to what he has to say. When he gave is presentation “Laughter from nowhere” some 18 months ago at the IAB Congress, he created a bit of a theoretic frame of what it is consumers are looking for concerning the ‘second screen’. People’s main focus is in the main screen, and you need to think about what additional info/activity you can provide that makes the first screen experience better, without asking for too much focus so it doesn’t stand in the way of the main experience. The Twitter chatter about a tv show is only one – and a really tiny – example of what that could be. Check out the case above, it’s 6 years old and still one of the most remarkable I’ve seen so far.

New ways of distribution

Newspapers are print, and have a website, and a mobile site. You tune in on a radio station with your radio, or via the website. You watch tv on your television or snippets via their website. That’s about it. The traditional way of consumption for all of these channels remains the most important, that’s where the money is made but it’s in decline. So we have to think about new ways of distribution. Again especially with television, opportunities are huge I think.

Why especially for television? Because we have only started to figure out how we can get content to consumers via other means. Today the cable provider (or similar) own most of that distribution and it is a bit of a love/hate relationship between tv channels and the distribution company in many countries. What I don’t get is why media aren’t looking at all these possibilities to bypass those distributors. Think about it: Xbox, Apple tv, Connected TV’s, … there are so many devices in people’s homes that you can use to distribute your content that I really don’t understand why none of the media I have access to are using these.

And it’s not alone for television. I can get the national newspapers on my iPad… and they are updated every day around midnight. For realtime updates I have to go the newspaper’s website. Makes sense to you? Not to me it doesn’t.

Build brands instead of channels

Almost every brand I have ever worked for dreams of using lots of traditional media to build its brand. It still seems the best way to get in front of a lot of people’s faces, the get a lot of attention at the same time. And maybe rightfully so, if used in the right way. Is it then such a big jump to say that this would mean that media brands should actually be the biggest brands then? They can use traditional media all the time, as much as they want, they are the media!

But we know they’re not. Could it be that that’s so because they are building channels more then they are building brands? I think that’s what’s going in. They all have a channel that works/worked really well, and some new ones that are still improving. So they keep the channel that works best, while investing little in the new ones. If they were building brands, and people would really choose for a strong media brand, wouldn’t you think the channel becomes less important? People would look for it and consume it the best way possible? I do think so.

Do you agree? Or maybe not? Or do you want to add an opportunity that you think I missed? Let me know in the comments, I’d love to open up the discussion around the topic.

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Is technology slowing us down?

Seriously, is it? This might sound like a strange question from a technology early adopter and yet I believe this is a valid question. I realize that technology is actually fueling growth, opening up new opportunities and markets, giving access to consumers that were previously out of reach. It’s at the base of many new products and helps us connect with the world. But it also seems to be a burden, a barrier for many businesses in that same quest for growth. Every week I see decisions being taken – with clients, partners or friends – that are based upon technology and that should have been taken weeks, months or even years ago. Or even worse – decisions which we all know are wrong from the start, but where technology forces to do things in a certain way. This is just an observation but one I encounter too regularly to ignore. And I think these are the main reasons:

People can’t keep up. Being an early adopter for technology is one thing. It opens up opportunities if you are one, but it’s not really an issue for business when you’re not. The real problem with the rapid technology development is that this rhythm is very different than the business/marketing rhythm of many businesses. Even if they know which technology offers real opportunities, they haven’t got the means nor the organization to cope with that. On top of that the early adopters don’t care about that problem, they’re too busy being first with something new that it’s not their problem that the rest of the world can’t keep up. That is not the biggest issue though, the biggest issue is that business are seeing that the gap between the expected level of change and the ability to manage is is getting bigger by the year. And that that is largely related to technology. I didn’t  make that up, it was one of the key findings of the IBM CEO study.

“It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.” Charles Darwin

How to judge the expert’s expertise? At the introduction of new technology, experts are born. These experts range from people that have been researching about this new tech for the last x years to others who have read a lot about all this over the last few days/weeks/months. That makes them pretty different even though both will claim their expertise in similar ways and in both cases they will sound pretty knowledgeable to all people that are new to the topic. I’ve always found this a serious problem because everyone knows the importance of a good introduction to something new, and how hard it is to change people’s minds when that introduction wasn’t meeting expectations. You never get a second change to make a first impression.

Wrong decisions from the (recent) past. Maybe the worst reason of all. Companies often know that the technology decision they’re taking today is not the ideal one, but that earlier decisions and investments define the window in which they can decide. That’s really unfortunate of course, it’s like the perfect way to maneuver yourself out of competition. It’s also a very challenging one, because at the one hand you would suggest to make sure everything is researched properly before making a decision (to avoid things to turn out badly later) and yet we’re already being too slow to begin with. A big part of these decisions are platform decisions and I don’t think businesses need to take more time to decide, I do believe they need to approach platforms different compared to what they do now. More on that in a separate post.

Organizational hierarchy. There’s no better way to put this than with Putt’s Law below – this may be from 2006 but it’s still very much true today. Make sure you have the right people take the right part of the decision when it comes down to technology.

“Technology is dominated by 2 types of people: those who understand what they do not manage and those who manage what they do not understand.” Archibald Putt