Six competencies wan ifra study tour

Welcome.

An introduction to our innovation research

Michael P. SmithMedia Management Center

Agenda:

About the Media Management Center

Readership Institute

Graduate education

Executive education

Recent research from the Center

Running While the Earth Shakes

Six Competencies

Teen Internet Study

Innovation strategies in media companies

1. Build your company around consumer experiences

2. Engage in continuous innovation

3. Invest in the workforce of the future

4. Seed, grow, nurture and embrace communities

5. Grow through partnerships and collaboration

Six Competenciesof the

Next Generation Media Organization

Technology Trend

Device Convergence

One device performing all functions from telephone,

to TV to Internet access

Rather than one screen serving many purposes, our interviews confirmed the continued existence of discreet screens

Six Competencies of the Next Generation News Organization

Complete Storyteller

Entrepreneur

Data Miner

Marketer

Platform Strategist

Community Builder

Competency #1:The Platform Strategist

How can I move eyeballs from one platform to another?

-Kenneth A. Bronfin, President, Hearst Interactive Media

““ ””

1) Know the platforms, technologies and players

- Develop a strategy to meet discrete needs of every screen experience

2) Know the consumer - Capture new market opportunities

3) Know the organization- Understand your own strengths and weaknesses

Platform Strategist Skills

◄ 30-inch screen

◄ 13-inch screen

3-inch ►screen

The Platform Strategist

Kindle partnerships

Content when the consumer wants it

The Platform Strategist

Content on new platforms



Entrepreneur

Data Miner

Marketer

Platform Strategist

Community Builder

Competency #2:The Marketer

A lot of media executives are trying to figure out how to keep up with technology. In order to answer those questions, you have to first ask these questions:

What is your identity? What is your brand?

– Amy Vickers, Director, Global Enterprise Solutions, Avenue A l Razorfish””““

Power to new players, including amateurs

Technology trends will favor media brands that can create strong audience engagement

Democratization of Media

Technology Impact

The Marketer

Marketer Skills

1) Differentiate on Content– Define your brand– Define content

2) Differentiate on Opinion– Promote perspectives– Promote the perspectives of others

How do we get their attention?

Strong Brand Position

FAMILY FUN BREAKING NEWS

SPORTS SEARCH

CELEBRITY NEWS

POLITICS

The Marketer

KNOWS ATLANTA BEST

The Marketer

Using new tools to find audiences

The Marketer

http://www.chicagotribune.com/about/chi-community,0,7900944.htmlstory





Entrepreneur

Data Miner

Marketer

Platform Strategist

Community Builder

How can I aggregate communities around passionate interest?

- Ben Elowitz, Chief Executive Officer, Wetpaint.com, Inc.

Competency #3:The Community Builder

””““

1) Driving Collaboration– How can you involve others in the reporting and sharing

of news?– News organization must hold communities together and

aggregate around interests

2) Employing Micro-segmentation– Targeting segments of consumers with similar interest

profiles is possible

Community Builder Skills

and

The Community Builder

Sports communities are growing


Sports communities are growing


””““

Micro-segmentation

Interests are micro-segmented; people have very specific interests and they’re looking to connect with content and other people who share those very specific micro-segmented interests.

-Ben Elowitz, Chief Executive Officer, Wetpaint.com, Inc.


SportsFan

FootballFan

Boston College

Mathias

Kiwanuka

Personal interests drive content communities


http://newsmixer.us/





http://www.parents.com/


http://chocolateandzucchini.com/

Web 2.0 enables content creators




Entrepreneur

Data Miner

Marketer

Platform Strategist

Community Builder

Personalization has to happen. The publishers that allow the consumer to be in control will

survive because if they aren’t, they can certainly go elsewhere.

- Susan Hickey, Chief Marketing Officer, Nielsen Online

Competency #4:The Data Miner

““””

Rapid increase in quality of information

available

Technology will participate with users in learning from their

expressed choices and activities

Richer information of individuals and groups

Technology Impact

The Data Miner

Data Miner Skills

1) Use technology efficiently– Store and retrieve content– Store and retrieve data about your consumers

2) Become an expert at customization– Editor-in-software technologies

3) Generate new revenue streams– Package information in interesting ways

Why not have a simple, searchable, filterable, library of content connected with the player to very quickly find what you want, either directly on your computer or on your mobile device?

-- Cameron Brain, President and CEO, Open Box Technologies

““””

The Data Miner

Hal Varian: “What’s ubiquitous and cheap? Data. What is scarce? The analytic ability to utilize the data.”

Data are becoming the new raw material of business: an economic input almost on a par with capital and labour.

“The data-centred economy is just nascent. “You can see the outlines of it, but the technical, infrastructural and even business-model implications are not well understood right now.”

… as analytical techniques become more widespread, business decisions will increasingly be made, or at least corroborated, on the basis of computer algorithms rather than individual hunches. This creates a need for managers who are comfortable with data, but statistics courses in business schools are not popular.

In recent years there have been big advances in displaying massive amounts of data to make them easily accessible. This is emerging as a vibrant and creative field melding the skills of computer science, statistics, artistic design and storytelling.

Now the information flows in an era of abundant data are changing the relationship between technology and the role of the state once again. Many of today’s rules look increasingly archaic. Privacy laws were not designed for networks. Rules for document retention presume paper records. And since all the information is interconnected, it needs global rules.

The Data Miner



Entrepreneur

Data Miner

Marketer

Platform Strategist

Community Builder

The one thing you can’t deny is we are in an increasingly visual society.

-David Hobby, photojournalist, The Baltimore Sun and author of the blog Strobist

Competency #5:The Complete Storyteller

””““

Visual content will be shared

seamlessly, quickly and effortlessly

There will be ever-increasing outlets for visual journalism and storytelling

Technology Impact

Digital technologies give a much broader palette and set of tools

to use in storytelling

The Complete Storyteller

1) Providing rich context– Need for contextual history in news stories – Adopt tagging

2) Creating Interactivity– Stories must engage and interact with audience

3) Visualization of information and design– Communication of ideas through visual display of information

Complete Storyteller Skills



Slideshow Format

Source: www.nationalgeographic.com


…versus The Big Picture



http://lojoconnect.com/



GPS-based Applications








Entrepreneur

Data Miner

Marketer

Platform Strategist

Community Builder

News organizations will need to figure out what the end consumer is going to want and

what they are willing to pay for.

- Albert Cheng, Executive Vice President, Digital Media, Disney-ABC Television Group

Competency #6:The Entrepreneur

””““

1) Creating partnerships2) Experimentation

Keep pace with innovations

3) New revenue models New models will develop rapidly

Entrepreneur Skills

The Entrepreneur

The Entrepreneurial Journalist

• Know your passion.• Create a clear, authoritative, respected voice. • Always maintain your independence.• Carefully navigate the ethical waters.• Drive traffic, and partner serially with bigger

players.

The Entrepreneur

Ezra Klein

The Entrepreneur

Andrew Sullivan

The Entrepreneur

The Entrepreneurial Journalist

• Know your passion.• Create a clear, authoritative, respected voice. • Always maintain your independence.• Carefully navigate the ethical waters.• Drive traffic, and partner serially with bigger

players.

The Entrepreneur



Entrepreneur

Data Miner

Marketer

Platform Strategist

Community Builder

Thank You

Business

Six competencies wan ifra study tour