Online Social Media Junkie? Strive to Profit!

Profiting in an Era of Social Networking

Consider This:

• More than 57% of online video viewers share links to the videos they find with others
• In 2007, You Tube consumed as much bandwidth as the entire internet in 2000
• Almost 70% of journalists read blogs regularly, while 20% say they spend over one hour per day reading blogs

The 7 Driving Forces Shaping Media:
Some Food for Thought

1. Increasing Media Consumption
   
We are media animals. With greater access to media and content, we are discovering that our appetite for both information and entertainment is virtually insatiable. It is now possible for media overlapping, i.e. music, television, internet can happen simultaneously.
2. Fragmentation

   Audiences are constantly being divided into smaller and smaller segments. For example, there are various niches of people who consistently watch certain TV channels.
3. Participation

   Media participation across blogs, photos, videos, social networks, and more is at its peek. Users - like you and me - are wanting, willing, and essentially feeling the need to participate. Are you Tweeting? If not, Tweet Tweet Tweet! Haven't heard of Twitter? Then, uh, are you living under a rock?
   
4. Personalization

   Media is blatantly becoming more personalized. Users’ expectations for control over their media is increasing. It is obvious, users like and want to be heard. By listening, responding, and sharing - an online experience is created. 

5. New Revenue Models

   The current trend is moving away from subscription and towards ad-supported business models, the way that advertising is sold is dramatically changing. 

6. Generational Change

   Media channels will be increasingly age-segmented. With this, advertisers will implement new media outlets in order to reflect age profiles of audiences. 

7. Increasing Bandwidth
   
In particular, mobile bandwidth is soaring. With the pairings of devices and applications - i.e. the iPhone and Twitter - the online experience is more immediate. Future media will continue to grow this way.

Strategy Tools to Consider and Encompass
All five elements, do in fact, work together. These elements can apply to virtually all social networking and basic business strategic planning. So think big!

1. Standards

   Think both quality and quality for your content. It is up to you to set your own standards for what is being delivered.

2. Relationships
   
Set goals for making and sustaining online relationships. Don’t hesitate to add friends, especially ones with similar interests. It’s like kindergarten on show and tell day all over again. Seriously, show and tell with others!

3. Connectivity

   The better connected we are, the better. 

4. Interfaces

   Many different interfaces are available for us to use, we must strive to learn how they work in order to keep up with the ever expanding online community. 

5. Content
   
Content is the commodity. Rich and interesting content will draw readers in so that they explore your profile, add you as a friend, and continue to come back for more. Posts, blogs, and general commentary should have personality yet should sustain a clear purpose.

Don't ya love it when I get all "businessy"? Psh, like that was anything. You should see me when I'm wearing my power suit-high heel-red lipstick combo. In the words of Christian (ode to Project Runway) it's fierce. Simply, fierce. With that, if you are a rising-social-media-addict slash I-could-do-this-for-a-living-buff (such as myself) then get out there! The tools are available and ever accessible, you just have to learn how to use them :)