Tag: influencers

  • Can media become social enough?

    A few days back, it was reported that Facebook now had a million active advertisers, and that LinkedIn has 3 million company pages. I’ll let that sink in, in case you hadn’t heard. Despite all the social-ness, I realised it’s impossible not to call it media. The wiki definition for media is “tools used to store and deliver information or data” That, for me, is a smartphone now! I also wondered how many media behemoths could boast of a million active advertisers. And that’s when it really struck me how much the traditional media we were used to have been sidelined – yes, they still get advertising revenue, but from a sheer reach perspective. Google, Facebook, YouTube and many more platforms get anywhere between a few million to a few hundred million visitors every day.  To put it all in perspective, TOI – the world’s largest English daily has a readership of over 7 million.

    Media and advertising have had a very intertwined life, unless of course the publication/channel has been on solely a subscription based model. I think the magic of Facebook (and Google, before it) and those that followed is that they have democratised advertising by not just making it something any small business could spend on according to their means, but also giving them the ability to advertise according to contexts – intent, interest, social etc.  Though Google, Facebook etc are still intermediaries, they never flashed their powers, though the latter has begun to, recently. As brands move away from a one-size-fits-all mode of advertising, these platforms give them more options of form and function, and changing the face of advertising. (Google’s exploits are known, here’s a pertinent read on Facebook)

    In such a scenario, what really does a traditional media channel have to offer to its consumers and clients? I’m not saying that they’re all going bankrupt next Sunday, but it’s clear which way the wind is blowing. One way, of course, is to use their brand value, and replicate (and grow) their audience on devices and platforms which better serve advertising interests. They can hone their value offerings by offering various contexts and their combinations – local, social, interests, and so on, and build business models for each. The early movers are already making big deals. But that is the red ocean that everyone is fighting for. How really can a player differentiate?

    Biz_Is_The_ArtI had a vague thought. Media’s original strength was its relationship with users and the trust involved. In the social media era, how can that be leveraged? Flipboard has already allowed users to become curators and create their own magazines. Is that the future, along with shared revenue on advertising? What if users can also curate the advertising their ‘subscribers’ can see? After all advertising is also news/information and has a certain value depending on the source. Traditionally, media  has been the middle man between advertisers and users, but what happens when everyone is media? Can media start aggregating influencers in every domain, including niches, provide them the material for curation, negotiate on their behalf to relevant advertisers, and share the revenue? Perhaps the next  disruption will be the platform that can handle the complexities involved. What do you think?

    until next time, mediator

  • Influence & Context

    Last week, I read two stories on influencers on sites that influence me. 😀 Since that’s a topic that has been seen here before (1,2,3) and it’s been a while since I’ve written about it, a couple of cents.

    YourStory’s post, I cheered, despite failing on their influencer scale, (of 5000 twitter followers) because it asked a very pertinent question – “Are brands being  held at ransom by Social Media Influencers?” I completely agree with Mekin’s tweet (cited there) on how it takes the twitterati only a few minutes to demolish years of hard work. Anyone who handles a brand account would relate to that. Expecting ‘influencers’ to mature and watch what they say is like expecting, say, a response from the nation’s leader. The other way to handle it is to be really good at what you do as a brand, be sure of yourself, be transparent, so that you can back up your tweets (no, not that kind of backup) with facts. (more)

    LHI’s post was about brands leveraging social influencers. Prasant (of LHI, but didn’t write this post) had commented in the YourStory post about contextual influence, and I quite agree with his views. In fact, my stance remains the same as when I wrote this. To sum it up, (in general, there are of course exceptions including whole domains) brands tend to treat influencers just as they treat traditional media. The more reach, the better, who cares about context? No offense meant, but I am not really influenced by the gentleman in the LHI story. Mercedes needn’t care about that because I’m not really their audience. But the entire episode makes a very good story, so if that was the intent, and not necessarily the person’s influence, opportunity well spotted, and a PR job well done!

    But if brands do treat influencers as media, how long will this party last, especially when people are already trying to correct their filter failure? (noise in the stream) Mass media’s  indisputable role in creating perception have been blunted in the web and social eras. Arguable, but I think, in a while, we’ll see a kind of flip. Folks would start figuring out their go-to people, when making consumption decisions. I already do that – in fact, I realised that with a few exceptions, everyone on this list is a go-to person for me! Not all of them have 5k followers, but in their domains, they’re #likeaboss. What has social contributed here – 90% of them were unknown to me before blogging/twitter, but if I am asked for a recommendation in their domains, I don’t have to think twice. I trust them, and this has been built over various interactions across time.

    In essence, using influencers would boil down to the intent of brands – mass reach or targeted reach (in this context) – for each activity. There are tons of ways to get reach on social media, in many ways it has already begun to resemble its media predecessors, but trusted sources remains a precious commodity. If brands earn and retain the trust of influencers in their domain – and they could only do that if they are really good at what they do – think of how it could help them when it comes to responding to those ransom calls.

    until next time, an affluence of followers 🙂