People will talk, at least for a little while, about how Facebook acquired Instagram for $1 billion, but the implications for online business will continue to evolve. So far, a lot of the conversation centers on the strategy in the acquisition and what it will mean for the future of both companies. Yet, the lessons for online media businesses are already apparent.
We know that the publishing model is evolving as online and mobile delivery change consumer and business behavior. Social Media and mobile are two of the key drivers for this change—and if you haven’t already, it’s time to seriously integrate them into your approach. Why?
1) Social media is emerging as an effective marketing tool driven more by audience input than traditional advertising.
2) Mobile technology enables you to make your content available everywhere, fosters location-based marketing, can be tailored to the individual and is highly convenient. You know where this is going: mobile gives you a greater, more targeted reach.
3) Social media and mobile are only growing. Social networking sites are being credited for rapid traffic increases to online media, while the number of mobile-connected devices are projected to exceed the number of people on earth by the end of the year.
4) It’s easy to imagine the combined effects of these two factors. You’ll likely find stronger brand loyalty to social media and greater customer satisfaction that far exceed traditional methods of direct mail, TV, radio or other forms of mass media.
We’ve talked before about how media companies are succeeding online: it’s all about expanding your products and services to meet audience preferences and needs, to build revenue in new ways. Utility apps are no exception to this rule.
Knowing your audience by tracking behavior, content and format preferences can help guide your strategy.
Audience interaction, feedback and social sharing behavior will tell you what is useful and how you can add value.
Technology use, such as the percentage of users visiting your site via mobile device, will help you create an experience that fits the technology.
Just because this environment is changing rapidly, doesn’t mean you don’t still have value to offer. Change is opportunity. Hence, at this pace, there is ample opportunity to seize. In fact, if you leverage your experience and existing quality of content, you have an advantage over those who are just starting up. Look for these opportunities, apply your expertise and broaden your market. You already have something to build on.
Use a SaaS Web CMS platform as your foundation. Choose something that seamlessly integrates social media, workflow and eCommerce with ample flexibility and scalability.