JuicyInfo

Changing media

MediaGuardian's changing media summit in March brought together professionals from across the media, publishing and broadcast spectrum. There was a prestigious line-up, including Minister of Education Lord Stephen Carter, Google’s brand new MD, Rafat Ali from Paid Content, Emily Bell at the Guardian, plus a host of others, discussing challenges and ideas on how to navigate through these difficult times. The recession and the fallout of advertising revenue has hit media hard, but structurally, this industry has been under pressure for a good few years. Producing great content may well still be the foundation on which the media industry rests its laurels, but it was clear this is far from enough to survive. 

Here are a few sound bytes: 

- Innovate to monetise the business: The difficulty of charging consumers for content online is keenly felt amid a climate where ad revenues have been plummeting. Innovation in the business model is now critical to ensure survival. Online video and mobile were both heralded as being keys to future success.

- The lucky ones: Wall Street Journal, FT.com for having a solid subscription business stream (thanks to niche content) and the likes of The Guardian and BBC for having the backing of trusts and public sector funding.

- Innovators: NYTimes, The Guardian. Both have taken an open approach, enabling API's to be created using their content. Despite, the tough situation in which the NYTimes finds itself, this brand is ahead of its class in terms of multimedia developments.

- 'Open out' and 'open in': There was a great presentation from Matt McAlister at The Guardian, highlighting that media companies must 'open out' as well as 'open in.' In terms of 'opening out,' content companies need to increase their reach on other platforms, networks and websites, to be heard amongst the sheer volume of content. The 'opening in' broadly refers to adopting a more collaborative approach, whereby external partners are brought in, to help the company explore new avenues.

Google launches 'Survival of the Fastest' B2B channel on YouTube

Google's new video business blog on its own YouTube platform provides a useful tool in an engaging format. The video content features experts from a number of business disciplines, including Ogilvy's Rory Sutherland, Boris Johnson, IAB and London Business School.

Last month, Google joined forces with WPP to fund new research in the digital realm. As reported by the Wall Street Journal in this article, it includes a number of studies, using Harvard Business School, among others. Google already works as a consultant to advertisers, so this takes that relationship a step further. In addition, it showcases the ways in which businesses may also leverage YouTube from a B2B angle.  

Functions covered include Marketing, eCommerce and Finance & General Management. There are also themed videos around speed, agility and consumer insights. Altogether, a useful tool for businesses in  turbulent times. 

Comparison shopping sites popular with cash-strapped consumers

A recent survey conducted by E-consultancy and DoubleClick shows that the number of online purchases that have come through comparison sites, aka comparison shopping engines, has increased in the last 12 months, accounting for about 10% of retailers’ online sales. Cash-strapped consumers are using CSEs at a growing rate, making it increasingly important for retailers to have a visible presence on these sites. The report found that most retailers use several CSEs, with 63% of those surveyed using Google Shopping/Google Base. Kelkoo, the next most popular is used by around 50% of retailers, while Shopzilla, PriceRunner and Shopping.com are each used by about 30% of retailers. Google Shopping was regarded as the most easy to use site and the best for quality of traffic.

Amazon and Ebay are used by a minority of retailers (41%) and social shopping sites such as Jellyfish, Kaboodle and Twenga have yet to make an impact with online retailers.

Meanwhile Verdict Research reports that online retailing now accounts for 6.7% (£19.4 billion) of all retail spend in the UK and predicts that online spend will increase to £44 billion by 2012. The same reports states that loyalty to retailers is generally 10% lower than in physical shops, making good service, low prices and ease of navigation crucial in ensuring that customers come back to your site.

Written by Penny Crossland

Share something juicy

We couldn't resist writing about this campaign from Starburst created by hot digital shop Digitas. Sharing 'Juicy' content is high on our own agenda and this is a really nice approach from the Mars brand tapping into consumers' desire to share. As reported by imedia and ClickZ the branded content division of Digitas, named The Third Act, has created some great video content where amongst many things, people share a bit to much 'juicy' information. The Starburst YouTube Channel and stage setting on Starbust.com are gateway to a host of entertaining clips, sponsored vlogs, plus the animated web series 'Nite Fite'. The content is also syndicated on a number of different channels including NextNewNetworks to facilitate the sharing process.