This week MySpace announced it is laying off half of its workforce. This follows an attempt at rebranding itself as a “social entertainment hub,” a new and widely-ridiculed logo, and a warning from its parent corporation to shape up or get sold.
It was Kevin Kelly who once said that to make a living an artist would only need 1000 fans. After all, if every fan generates $50 of income a year and convinces two or three of his friends to also purchase the occasional book, song or T-shirt the math works.
The corollary of this is that creative artists should stop thinking in terms of big audiences and mass media success. Instead, they should focus on getting to know and engaging their fans on a virtually individual basis.
Originally published in 2003, before the social media craze started, these are five ideas that every company should still be exploring today. I believe that these five rules are even more important in the social media world we live in today.
People always ask us what the “best” social media channel is for their particular marketing strategy. If you play it by the numbers, Facebook rocks them all: last January, Compete.com reported that Facebook had over 133 million unique visitors (UVs), compared to YouTube’s 97.7 million and Twitter’s paltry 23.5 million. How many Facebook fans do you have?
Earlier this week, in a hot New York City, I was having some tea and lemonade with a dear friend who is a senior publishing executive. When our conversation turned to exploring the future of publishing she said, “our folks say our core value is to curate content”. I suggested that the real challenge for any publisher today is not just to curate content, but to manage audiences for the authors. She said, “in other words we need to curate audiences”.
(NOTE: I originally wrote this article in 2005 and wondering if any of this has changed in 5 years since I originally wrote it. The audience is getting smarter and tougher. We keep talking about transparency and the audience being in control. Well, if we keep telling them they're in control, they're eventually go to expect to me in control. Then what are we going to do?)
Reckitt Benckiser ("RB") made ad trade headlines last week when it announced a record-setting $40 million web video buy for 2010. What shocked everyone wasn't the dollar amount but rather that the company pretty much doesn't care where the ads run.
Last week, I gave a talk at Web2.0 Expo. From my perspective, I did a dreadful job at delivering my message. Yet, the context around my talk sparked a broad conversation about the implications of turning the backchannel into part of the frontchannel. In the last week, I've seen all sorts of blog posts and tweets and news articles about what went down. At this point, the sting has worn off and I feel that it would be responsible to offer my own perspective of what happened.
In almost two weeks, comedian Jay Leno will be making his debut on a live comedy show to air at 10 pm. Not content to rest on his laurels, Jay Leno has been in intensive preparatiosn for his new show on NBC - running four miles a day, testing jokes at stand-up comedy venues and getting to the studio as early as 8 am - nearly one hour before anyone else - to tweak the design of his new set. Reflecting on a recent feature of Jay Leno in the Wall Street Journal, it's clear that there's a lot that Mr. Leno can teach the Fortune 500 about innovation:
Recently, much discussion online (and offline) has centred around the impending doom of journalism and the news industry. As an enthusiastic cheerleader of all the disruptive effects of the Internet, my opinion until of late has been that the changes couldn't have come about sooner.