I continue to marvel at the huge amount of coverage that Twitter gets from mainstream and business press, as well as the huge amount of traffic the service enjoys. But while Twitter is becoming omnipresent in every layer of the media, the business remains a mystery. Ubiquity without clear methods of monetization can easily result in a situation where free really means free, with no way to make meaningful money. oid.editionId = 3
I recently attended the Web 2.0 Summit in San Francisco hosted by Tim O’Reilly, John Battelle, and TechWeb. One of the highlights of the conference was a discussion between Twitter co-founder Evan Williams and FM Media’s John Battelle. It was a revealing and enlightening examination of the rise, state, and future of a social network that has been nothing short of transformative in its few short years of existence. What appeared pervasive with every question, answer, and observation is that Twitter’s success prevails in spite of its obvious hurdles, limitations, and absence of clear direction and vision. Twitter is a wondrous marvel and rare phenomenon whose surge to profound cultural prominence has completely transformed how people communicate, share and discover events and information. Its success is one that cannot be retraced.
There are plenty of global conglomerates in industries from finance to pharmaceuticals to, of course, advertising. But running a global news business requires a tricky combination of international brand appeal, regional relevance and subject expertise that both travels and translates.
There’s no such thing as a captive audience. Gone are the days of neat and discrete moments in time where advertisers talked to target audiences. Today’s is a culture in constant motion. And the dizzying array of platforms, constant connectivity and ever-increasing speed of information has left the ad industry out of sync with its audience. People don’t live in quarterly campaigns, nor do they distinguish communication channels. They expect faster and constant communication with their brands across more media platforms and conversations. Every month, week, day, on the hour. It’s now about how fast brands can move, how relevant they can be and what they can offer in the here and now. There is a always need for “slow” and carefully crafted brand strategies and stories. But, with culture in constant motion there is also a need for marketers to be quick and nimble, so they can find opportunities where their brands can tap into cultural conversations that are part of people’s lives.
In 2019, when you look back at the social media landscape ten years earlier, you might laugh at how hard you had to work. You had to type things into forms (ha! remember those?), type URLs in the address bar (how archaic!), and put up with irritating communications about irrelevant products. Social media in the future will be effortless and everywhere. Here’s a look at some of the new technologies in store for us over the next 10 years that will make our social (media) lives easier.