One of the biggest
media events in Europe – The Guardian Changing Media Summit – took place in
London. This event brought together top executives from leading companies: from
Instagram and Facebook to Unilever and Cosmopolitan. I visited this event and, on
the basis of its results, has created a list of the four digital tools which
media leaders employ today to stay on top tomorrow.
The word “disruption” is the most precise descriptor of the modern media business. Old marketing strategies have sunk into oblivion, yesterday's innovations are today's museum exhibits, the audience seems to want the usual bread and circuses, but different every other hour, preferably with funny pictures and videos. How to adapt and to survive in this situation?
1. It is not just about Facebook and a website anymore
"Online website isn't a page and we need to stop thinking about it like that”, was the preface of the presentation which was held by Lauren Laverne, co-founder of the media platform The Pool, which is targeted at women who are “too busy to browse”. According to her, in order for a media to keep up with the times, it has to be a place where visitors take a pleasant “walk” rather than wander in quest of the necessary information.
Interesting examples: The Pool, KennedyAnd Oswald, Digital Podge, Vox Teens
In the future, the media business will have to hire more employees who specialize exclusively in social media, where strategies are becoming more sophisticated and present a marked contrast to the general idea of a project. For instance, The Pool, which is relying on active women in Britain, has attracted 40% of its readers through Twitter, while the business-oriented and widely quoted The Guardian draws its audience through Facebook (48% increase in network traffic in 2015) and Google (23% increase in network traffic in 2015). The Washington Post, which is focused on the political and business elite, gathers its audience at all kinds of platforms and actively familiarizes itself with YouTube. Instagram is the most advantageous social network for media companies which are focused on direct sales of their products to the audience.
Therefore, the most important task is to understand which platform your audience uses and which one of them would present your product to costumer in the most effective way. At the same time, media projects should develop their own websites, regardless of the trend towards abandoning printed and even web versions in favor of work in social media. This has become particularly relevant since Facebook launched Instant Articles.
However, the majority of the players in the market still believe that social media doesn't pose a threat to websites. “Some kinds of journalism are impossible to present on SN properly. For example feature stories. It is even technically tough for now”, reckons Mary Hamilton, executive editor at The Guardian News.
2. Special attention to Snapchat
Experts say that it is effective to pay special attention to Snapchat, especially if you are working with Generation Y. It is a relatively new social platform, but it is developing so rapidly that the leading media outlets are intentionally hiring staff that will work with it, while social media giants such as Facebook, Twitter, and Instagram have to reckon with its presence on the market.
Notes Cosmopolitan UK editor Farrah Storr: “When we started SnapChat we published 14 snaps every day at 11 o’clock, and the results have ‘knocked us for six’. Engagement is high: three quarters of users complete a series of 14 snaps each day while 56% of users return five days in every six. There will be young people and their first interaction with the magazine will be on Snapchat. And that’s great.”
Marriott International also produces unique content for Snapchat. David Beebe, vice-president of the company, admitted that without this social platform Marriott’s meaningful marketing to young travelers would be impossible. “Brands no longer lead the conversation. Content is the key, and the consumer chooses how and where to consume it. To work with millennials we have created unique content for SnapChat”, explained Beebe.
Many leading global media have their own profiles on Snapchat. It is obvious that by the end of this year their number will increase by several times.
3. The growing power of video
Actually, not a single one of the aforementioned tools is going to work without video content. That is the reality. Over the past few years, the demand for video products has been growing steadily. David Pemsel, chief executive at The Guardian Media Group, said that the number of views of The Guardian’s videos has grown by 255% in the last year, and this year they expect equally substantial.
Amy Cole, brand development executive for the EMEA region at Instagram, also noted that the number of views of videos on Instagram has increased by 60% over the last 6 months. Actually, the production of videos is also increasing. Since the beginning of 2016, British tabloid The Sun has been supplying 70% of its news reports with video clips, and intends to increase this figure up to 90% by the year 2020.
The Quartz news outlet has created a special department whose task is to create content exclusively for social media. “We created a video lab with three people hired, we told them you should produce interesting videos and publish them on FB. These videos were viewed 200 million times. This is a great way to develop” said Kevin J. Delaney, chief editor at Quartz.
4. On the way from storytelling to story being
If we look into a future that is still quite distant, though it is already standing on our doorsteps, we should mention one more concept which leading media brands are going to develop in one form or another. As Martin McDonald, CEO at Parallel66, has noted, the media industry is steadily moving from storytelling to story being. Virtual reality is closer than ever before. In order to get into it you will only need a smartphone and cardboard glasses at a cost of about two dollars.
The word “disruption” is the most precise descriptor of the modern media business. Old marketing strategies have sunk into oblivion, yesterday's innovations are today's museum exhibits, the audience seems to want the usual bread and circuses, but different every other hour, preferably with funny pictures and videos. How to adapt and to survive in this situation?
1. It is not just about Facebook and a website anymore
"Online website isn't a page and we need to stop thinking about it like that”, was the preface of the presentation which was held by Lauren Laverne, co-founder of the media platform The Pool, which is targeted at women who are “too busy to browse”. According to her, in order for a media to keep up with the times, it has to be a place where visitors take a pleasant “walk” rather than wander in quest of the necessary information.
Interesting examples: The Pool, KennedyAnd Oswald, Digital Podge, Vox Teens
In the future, the media business will have to hire more employees who specialize exclusively in social media, where strategies are becoming more sophisticated and present a marked contrast to the general idea of a project. For instance, The Pool, which is relying on active women in Britain, has attracted 40% of its readers through Twitter, while the business-oriented and widely quoted The Guardian draws its audience through Facebook (48% increase in network traffic in 2015) and Google (23% increase in network traffic in 2015). The Washington Post, which is focused on the political and business elite, gathers its audience at all kinds of platforms and actively familiarizes itself with YouTube. Instagram is the most advantageous social network for media companies which are focused on direct sales of their products to the audience.
Therefore, the most important task is to understand which platform your audience uses and which one of them would present your product to costumer in the most effective way. At the same time, media projects should develop their own websites, regardless of the trend towards abandoning printed and even web versions in favor of work in social media. This has become particularly relevant since Facebook launched Instant Articles.
However, the majority of the players in the market still believe that social media doesn't pose a threat to websites. “Some kinds of journalism are impossible to present on SN properly. For example feature stories. It is even technically tough for now”, reckons Mary Hamilton, executive editor at The Guardian News.
2. Special attention to Snapchat
Experts say that it is effective to pay special attention to Snapchat, especially if you are working with Generation Y. It is a relatively new social platform, but it is developing so rapidly that the leading media outlets are intentionally hiring staff that will work with it, while social media giants such as Facebook, Twitter, and Instagram have to reckon with its presence on the market.
Notes Cosmopolitan UK editor Farrah Storr: “When we started SnapChat we published 14 snaps every day at 11 o’clock, and the results have ‘knocked us for six’. Engagement is high: three quarters of users complete a series of 14 snaps each day while 56% of users return five days in every six. There will be young people and their first interaction with the magazine will be on Snapchat. And that’s great.”
Marriott International also produces unique content for Snapchat. David Beebe, vice-president of the company, admitted that without this social platform Marriott’s meaningful marketing to young travelers would be impossible. “Brands no longer lead the conversation. Content is the key, and the consumer chooses how and where to consume it. To work with millennials we have created unique content for SnapChat”, explained Beebe.
Many leading global media have their own profiles on Snapchat. It is obvious that by the end of this year their number will increase by several times.
3. The growing power of video
Actually, not a single one of the aforementioned tools is going to work without video content. That is the reality. Over the past few years, the demand for video products has been growing steadily. David Pemsel, chief executive at The Guardian Media Group, said that the number of views of The Guardian’s videos has grown by 255% in the last year, and this year they expect equally substantial.
Amy Cole, brand development executive for the EMEA region at Instagram, also noted that the number of views of videos on Instagram has increased by 60% over the last 6 months. Actually, the production of videos is also increasing. Since the beginning of 2016, British tabloid The Sun has been supplying 70% of its news reports with video clips, and intends to increase this figure up to 90% by the year 2020.
The Quartz news outlet has created a special department whose task is to create content exclusively for social media. “We created a video lab with three people hired, we told them you should produce interesting videos and publish them on FB. These videos were viewed 200 million times. This is a great way to develop” said Kevin J. Delaney, chief editor at Quartz.
4. On the way from storytelling to story being
If we look into a future that is still quite distant, though it is already standing on our doorsteps, we should mention one more concept which leading media brands are going to develop in one form or another. As Martin McDonald, CEO at Parallel66, has noted, the media industry is steadily moving from storytelling to story being. Virtual reality is closer than ever before. In order to get into it you will only need a smartphone and cardboard glasses at a cost of about two dollars.
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