Communities of purpose are the business units of the21
How we’ll monetise the conversation
By David Cushman, April 17, 2008.FasterFuture.blogspot.comCommunities of purpose are the business units of the 21
century.This notion, should you accept it, has profound and far-reaching implications notonly the future of publishing but also for advertising, marketing, production andthe very process of the creation of value.It has implications too for how companies should organise to benefit from thenew way value is created. Yes, it is disruptive, isn’t it?This paper seeks to explain why these communities of purpose are of such valueand why enabling their rapid, real-time evolution unlocks the key to valuecreation.It will consider why this has the potential to be the greatest explosion in valueever created.And it will propose solutions in which content, conversation and communities of purpose provide the cornerstones. With them I believe we can unlock value nowand into the mid-to-long term.It seeks to answer the question “How do we monetise hosting the conversation?”Translation: How does media make money in the future?
Self-forming non-directed groups coming together with a common purpose areable to achieve great things.Examples: The HSBC ex-student group which revolted against new charges ontheir student loans. Goldcorp’s (see Wikinomics) opening up of its geologicaldata to a global community to solve their ‘where to mine’ dilemma, SecondLife(made up entirely of contributions by the community), Flickr (filled with contententirely by the community, and organised and distributed entirely by communitiesof purpose), the list could go on and on.We have long known that none-of-us-is-as-clever-as-all-of-us, that two heads arebetter than one, that the wise man asks questions. We know the value of teamwork, of collaboration, shared knowledge.It is why we understand the value of ‘crowdsourcing’.