Tag Archive | "linkedin"

Challenging the old media business models (Part 2)

As a follow up to the recent post “Challenging the Old Media Business Models”  I want to get a bit deeper into the analysis of media business (revenue) models. There are quite a few them which come in different classifications and structures, but i find organized by Paul Bradshaw most suitable to discuss the subject, mainly because it is very clear, informative and well structured.

Most of these models like advertising, affiliates, premium (“velvet rope”) services have been tried and work pretty well under certain circumstance , but  “Social value” model hasn’t been explored that much or hasn’t been considered as a valuable enough on its own. According to Paul Bradshaw , “Social value” model revenue is generated through social interaction by brand community (in the form of donations, support or spin-off).Actually it is often dismissed as very mystified and unclear , because social value is quite difficult to measure. But the times are changing. I think with social media going mainstream, personal branding growing bigger and bigger and evolving monetary systems online  – “social value”  model can be the next big thing. I was thinking about it for a while and after short brainstorm came up with this:

free media business model

Consumer pays directly to author.

Social media is all about disintermediation. Therefore, it is is quite a straight forward model, but if developed it would present a real shift in consumer’s perception – paying for the content when you don’t have to ? Madness? No! It would be all about the social status and personal brand building!

It could be very attractive idea for bloggers who already have well established personal brands and maintain their own platforms. In order to implement this model the author would have to provide superior social platform where the relationship building with the community would have to be considered as main priority. According to Paul Bradshaw people never paid for ‘content’; they paid for a package and a service that included content – “They bought a newspaper (brand), not ‘the news.” In this case the newspaper would be a personal brand which would have to provide best social engagement possible. The personal branding  would have to work both ways – not only author would have to get paid for well developed brand and top content, but consumer would have to receive some social points back as well. Lets say consumer could leave his name and contact details on the contributors list or virtual good system could tweet automatically that a person just made a reward or donation. Also, this model could work really great in B2B environment as the parties are much more aware about mutual benefits of marketing and social interaction .

Consumer pays author – author pays media platform.

Author sharing revenue with the media company – basically paying money for the platform to speak (or to be heard).It may sound ridiculous, but this model could be very attractive for less established writers who has interesting ideas but have no strong background to support them or have no capabilities/resources to build their own platforms.

In order to implement this model the two conditions would have to be present – strong media brand and qualified but now well known writer. Young writers would be interested to have their material published on big platform for greater audience in return sharing their revenue with the media platform. Furthermore, the media platforms would be interested to maintain their brands and attract good journalist/bloggers because of advertising dollars they would bring – specialized and engaged communities created under big brand could be well targeted.

The outcome.

If these models are implemented the outcome would be quite dificult to predict. It’s clear though, that the personal branding and community building would gain major importance in the media strategy. The content would improve and there would be less “noise” in media in the long term, because of “natural selection” process.  The  big media brands could concentrate on their core capabilities managing the talents rather that content production itself. Who knows maybe one day we will have our X-Factor of media?  “In my dreams I have a plan If I got me a wealthy man I wouldn’t have to work at all, I’d fool around and have a ball”. – and that would be the song to sing for the audition, just the wealthy man would be the authors who bring wealth with the valuable content  and community. But most importantly consumer would get to be a king, it would be able to influence, participate and gain from the process .

So what do you think about it? Please share your thoughts whatever they may be and submit your answer to a quick poll:

Here is the list  of top articles and presentations analyzing the new media business models:

Making money from journalism: new media business models (by http://onlinejournalismblog.com)

What does the “Media Business Model” mean? (by http://www.longtail.com)

The Freemium Business Model: Anything There for the Media? (by http://rebuildingmedia.corante.com)

Posted in Consumer Behavior, TrendsComments (4)

What Are You Doing Wrong on LinkedIn?

So you’re ready to get started networking on LinkedIn and converting those contacts to leads and partnerships. But what’s the best way to go about it?

Think of LinkedIn as your online resume. It’s a spot for potential employers/clients to find out more about you. Make sure to completely fill out your profile (including an appropriate photo) and keep it updated. (The more complete the better – LinkedIn profiles adds to your overall SEO power.) Don’t forget to ‘tag’ your profile with the appropriate keywords, as it will help others find you.

Get the custom URL by clicking the “Public Profile” link in your edit tab.

Add LinkedIn to your email signature. This encourages everyone you come in contact with to link to your profile.

Import your existing contacts.  This couldn’t be easier. Just let LinkedIn import your contacts. Once it does, you can customize a list of connections.

Get connected with anyone you meet professionally. This is a cornerstone of relationship building. That company might not look like a client today, but could be a perfect fit tomorrow. And they have lots of connections you don’t.

Use the LinkedIn Browser or Outlook toolbars. These toolbars make it easy to see LinkedIn summaries of other members and allows you to invite new connections straight from your Outlook or Gmail.

Don’t invite people you don’t know or have never met or corresponded with. LinkedIn keeps an eye on how many people mark you as “don’t know” after a request. Remember, by connecting you are associating yourself with this person and their reputation – be sure you want to. (Same goes for accepting folks on your page.)

Some final thoughts:

Reciprocate recommendations. If someone takes the time to write one for you, do the same for them. It’s just plain smart and good etiquette.

Request introductions. Don’t hesitate to ask a connection to introduce you to a new connection. All they can say is no. And they hardly ever do.

What else would you add?

Posted in Community Management, How To, Personal Branding, Strategies, ToolsComments Off on What Are You Doing Wrong on LinkedIn?

Converting Your LinkedIn Connections to Customers

Last time you checked your LinkedIn stats, you had a good number of connections, and it seems to be growing every day. But what does it all mean? How can you take those numbers and turn your connections into business?

Here are a few tips to get you started.

Create a strong profile

Don’t even think of beginning a growth campaign without a strong profile. It’s the first place people go to learn more about you! Make sure your profile is not only complete, but thorough and engaging.

Give and request recommendations

Ask colleagues, former employers, clients and subordinates to rate your work by writing a recommendation. Reciprocate by recommending others as well. Those who visit your profile definitely read these recommendations, and they can be a strong motivator in getting prospects to contact you.

Join or create groups

Look for groups that fit your target or industry, those with lively discussions and invested members. Do you see a niche that needs to be filled? Create your own group. Either way, you have to add value by joining in or initiating discussions that showcase your expertise. LinkedIn groups are all about sharing your experiences, advice and tips to make a connection. This is valuable to group members because it provides a forum to be heard, an environment of camaraderie, and insights into new tools and advances. But don’t just join groups serving your own industry! Think globally- join groups that may serve your future clients.

Take the time to answer questions and help others solve their most pressing problems. Once you’ve established yourself as knowledgeable and willing to contribute, people will look to you for help.

Be careful about selling

LI is about sharing, not selling. Some LI members break this rule, but you shouldn’t. This will only alienate the very people you hope to attract. Once you’ve established a relationship with another member, it’s ok to talk about your services.

Now what is your story?  How has LinkedIn worked for you?

Posted in Community Management, How To, Personal Branding, Strategies, ToolsComments Off on Converting Your LinkedIn Connections to Customers



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