This action might not be possible to undo. Are you sure you want to continue?
What Every Executive Should Know about New Media
Michael Netzley, PhD
Macro-level view of the changing Business environment
Compare & Contrast Media
Why Digital (Social) Media?
• • • • • • Consumer channel choices changed Consumer behavior changed Search, the way we find you, changed Message control is now shared Opportunity to engage is rich Risk, during difficulties, has increased
What Are Your Media Habits?
• • • • • • • • Newspaper Television Radio Social Networking (Facebook & MySpace) Blogs iTunes RSS Feeds Microblogging (Twitter)
The Newspaper of Record…Today
Organizations Adapt: U of Chicago
• Gave all employees top-of-the-line video iPods at $2.5 million • Training is now pushed out to employees on site • Employees adapt as all podcast users have…down time
IBM employees can choose from more than 5000 podcasts to listen to. More than 2 million downloads 5-10 internal audio podcasts and 3 vodcasts produced and distributed to employees each week.
Interview June 07, Anders Gronstedt. http://www.gronstedtgroup.com/
Powerhouse Museum, NSW
Powerhouse Museum Story
Videos and Podcasts
Photo of the Day Blog
Audiences Respond: Food Blog
Rise up! Angrily resist the demonization of the Tibet affair! Chinese netizens roast CNN and other western
CROSSROAD Consumers Create And Change The Brand
CROSSROAD Consumers Market The Brand
CROSSROAD It’s Not “With” Your Brand, It’s “In” Your The Brand
Succeeding in the New Environment
Changes Impacting Organizations • Convergence: all stories across all channels • Galvanization: mobilize around cause • Audience: Gen Y workforce and customers • Mobility: consume what we want where we are • Influence: community and peers
Shouting: From the Mountain Top
Shouting: Expert Worship & Punditry
one-to-many approach is out…It was replaced by CRM, the one-to-one model. This gave the ability to customize a message. This model was, in turn, replaced by the one-fromone, or search model ”
But all good things must change…
Shouting: Still Effective?
“There is no question that the future of advertising will look radically different from its past. The push for control of attention, creativity, measurements and inventory will reshape the advertising value chain and shift the balance of power.”
McKinsey & Co Study 2006
• Traditional TV ads becoming less cost effective • McKinsey says that by 2010 traditional TV advertising will be 1/3 as effective as 1990 • 50% decline of viewers; 40% hike in fees • McKinsey also predicts:
– 23% drop in ads viewed due to switching off – 9% loss of attention due to multitasking – 37% decline in message impact due to saturation
Advertising is the price companies pay for being unoriginal
- Yves Behar, designer
CROSSROAD Consumer Generated Content Is The Brand
SG Netizens: On-line Behavioral Preferences
© 2009 Michael Netzley, research.
SG Netizens: On-line Behavioral Preferences
Broad Patterns are Consistent •Joining: SNS most preferred •Expressing: Less interest outside the walled gardens Generational Gaps are Clear •Gen Y & Z: leading the way •Gen X and Boomers: Dramatically less active online
What Does It Mean?
•Experiencing wave of 2.0 savvy learners •Privacy remains important •Standing in the shadows
Supply & Demand Have Been Skewed
Meet Gen Y
Socializing a Digital Native
• The average college grad starting work
– 5,000 hours of video games on average – 250,000 email, instant, and text messages – 10,000 hours of hand phone use – 3,500 hours of time on-line
• “Today’s younger workers are not little us-es.”
Pew Research, Digital Natives Invade the Workplace, 2006
Asia’s Gen X Characteristics
• Not as different from their parents as Gen Xers in other parts of the world
– High expectations for career progression, pay, and material possessions (Singapore dream) – They are less job-loyal – They as brand-loyal as their parents – They are more receptive to media than other Gen X populations (e.g., North America)
Asia’s Gen Y Characteristics
• Singapore’s Gen Y population does differ from Gen X and Baby Boomers
– Speed: grown-up with compressed time (2 minute noodles, Internet, and text messages – Stimulation: Xbox, World of Warcraft, multimedia presentations, instant choice – Gen Y means that they, “ask why?” – Control: custom computers, latte to order, etc – Constant technology and access
PRACTICE What’s Really Happening Out There?
Independently Produced Content….
Repackaged Traditional Media….
High-Quality, Highly-Targeted Content….
How Media Creates Content
How Students Create Content
Conversations: Many-to-Many Interactions
Tools of the Trade
Conversations: Why Does This Work?
Three Reasons The One-to-One/Many-toMany Conversations Works 1. Links embedded into content 2. RSS (Really Simple Syndication) 3. Interactive Technologies for People
Just The Basics, Please….
Web 2.0: The Interactive Web
• • • • • Tools for Listening Tools for Talking Tools for Sharing Tools for Joining Tools for Updating
Many Feed Readers to Choose From
Search “Google Reader” and Reader type in your Gmail ID.
•http://www.nytimes.com/services/xml/rss/nyt/AsiaPacific.xml •http://feeds.feedburner.com/timeblogs/the_china_blog •http://content.nejm.org/rss/current.xml •http://www.healthbusinessblog.com/?feed=rss2 • http://www2a.cdc.gov/podcasts/createrss.asp?t=r&c=252&showall=1
RSS = Really Simple Syndication
Get iTunes or…. Add podcast RSS feed to Yahoo Page or Google Reader (subscribe)
•H1N1 •Singapore •Your name •CDC
Search for Google Alerts and go to the homepage
Set-up Your Google Alerts
Additional Tools for Listening….
Can Also be Tools for Talking!
Start Your Blog for Free
Search for “Wordpress” or Wordpress “Blogger” and go to the Blogger homepage. Create your account
Graco Baby Blog
133 Million Blogs on Record
Talk by Posting to a Wiki
Talk by Updating Your Facebook
Talk by with Twitter
Create your Twitter account and add a few feeds.
•http://twitter.com/GuyKawasaki •http://twitter.com/usmolecular •http://twitter.com/MedicalNews •http://twitter.com/harvardmed •http://twitter.com/communicateasia •http://twitter.com/healthmap
Sharing: Social Bookmarking Tools
Search “Delicious” and create Delicious your account. Add the Delicious Tool bar to your browser!
Highly-Ranked Bloggers Tag More
You Label And Create The Meaning
Tag Cloud Example
Online = Available to Chat
Search: How People Find You
But, search has grown up
Fundamental Shift in How We Produce, Distribute, & Consume Knowledge
Gartner’s Hype Cycle
Gartner’s Hype Cycle 2008
The way we communicate, market, teach, learn, and share has changed…. Does NHG have a voice in all these conversations?
My Business Card