When the world is changing so quickly some organisations will survive and some not. The difference will be in how well you prepare and how good is your solution. Here are three examples of three different industries going through changes. These are my observations and I will love to hear your thoughts:
1.MUSIC: Artists are doing it for themselves – Superstar artists are now using social media to launch their new video/show/single using Ustream.tv and facebook: That’s right both Shakira and Chamillionaire did this in the last week against their record label’s advice and I expect to see many more artists doing this “social media” thing in the near future. So if you’re a record label or a music related business this act represent both threat and opportunity. When your artists know better than you how to reach their audience, there is a problem. It’s up to you to keep up.
2.NEWSPAPERS: What will be the new model? Rupert Murdoch continues his war against google and wants to charge for online content. That’s great. Now he’s saying that without eTablets, “Newspapers Will Go Out Of Business.” Do you actually know anyone who owns an e-tablet? Any way you look at it, the newspaper model is broken (now they might charge you for a day pass?) . People are getting their news from other sources for free. Will people pay to get the same content on an e-paper? I don’t believe quality journalism is broken but I feel the delivery mechanism is. In a world where everything is shared by niches what’s the role social media and crowds can play within a publication? I’m sure Murdoch is working on it but if I was working for a newspaper or a magazine I’ll be thinking about it too.
3.ADVERTISING: The rise of the consumer-ambassador – When Coca-cola is doing it you know it’s real but they are not the only ones. More and more brands are using reality type “social” campaigns featuring real people to earn brand recognition, more fans/followers and the holy grail: organic google juice. Think about how many mentions your brand can get when people are constantly adding content, twittering and blogging about it, sharing the content with their friends and their friends friends. When the consumer journey starts with a google search, your first page is the most valued property you have. In this kind of world you need to be sure of what happens when someone is googling you.