The Mediocrity Of Media And The Rise Of Social Media

Posted in Marketing & Strategy Articles, Total Reads: 3182 , Published on 31 March 2014
Advertisements

What exactly will be the position of media 10 years down the line? If we know the answer of this question that means we know what changes awaited us in the year 2025, it would be a most important looking factor like our economy. That’s why this article is written to venture a sneak peek and dig out at the future of the media. How much of today’s media will have impact on future and how future media will change our lives. The perception of media today will witness the future of media tomorrow.


When it comes to the term media then the definition reaches the sky limit because MEDIA in today’s context is just not a medium to communicate but it already crossed the boundaries of physical devices, electronic devices, and technical devices. Now it has reached to cloud and web based devices. The innovative idea of expressing your thoughts to target audience is all about it. MEDIA got its meaning from latin word medius means middle or in simple word it’s a vehicle of communication from providers to seekers.

Image Courtesy: freedigitalphotos.net, ddpavumba


Media is not a singular term because it refers to group or to be very specific mass media is what a correct word starting from newspapers, television networks, radio stations which are so called as “media conglomerates” are all forms a group of people and companies home and abroad which if we collect together we can term it as “THE MEDIA”.


Some of the measure aspects which will have impact on our own future media according to upcoming trends are:


Implication of commercial media

Making profit and business out of selling media is money making project. Further media industries belong to a powerful platform of corporations that have effective distribution and content.


Media is going to be a construction

Media products are constructed and sold out carefully. There is huge career opportunity in Media literacy work and products related to it i.e. how they are explored and made out of strategies and research.


Audiences will relate and negotiate meaning out of media with themselves and the society in which they leave

People usually brings out their own life experience, attitudes and knowledge they had to the media they encounter. They try to figure out some sense of thought what they saw or read or here in different ways. So somehow media is going to be encouraging factor to study individuals’ personality, such as age, gender, race personality, physiology, social status and interpretations.


According to recent survey American schoolchildren spend more time watching television than they do in school or play. On an average a child watches thirty hours of television per week approximately. Currently, according to the LOS ANGELES TIME 37% of children aged 10-11 have their own TV’s as compared to 49% of 13-14 year olds and 54% of 15 year olds.


Some CAGR figures related to media and entertainment industry in India are as follows:

Radio-32% (1200 crore)

Music-1% (740 crore)

Television- 24% (42,700 crore)

Film Industry-12% (15300 crore)

Print media- 12% (19,500 crore)


Importance of media is going to increase because from centuries we learn about geographies, war and peace, the discoveries of Issac Newton or Albert Einstein and the list goes on. We are depended on media for knowing what going on out there in financial markets, political environments, how economies are falling or rising or what our competitors are up to. On a simple note almost everything we know about events, people and places that we cannot visit first hand all comes from media. Film and Media Industry is leading in India on a huge success and television is lifeline of India’s middle class family. In today’s world media is storyteller of young generations.


Media literacy which mentioned above is gaining its share of market and its basic purpose is to encourage young minds to understand the mass media and its working so that they can be in control of its important aspects of their lives which eventually help them to analyze things better and broader. Because there are many interpretations or meaning one can get out of media but how to generalize it or specialize anything in it is different.


For example: one thing is to look, to see what you look at is other one, to understand what you see here or read is third one, to learn and gain knowledge of what you understand is still something else but last but not least to act on what you learn is all that matters. The perfect examples of this would be JESICA LAL HATYAKAND, NIRBHAY’S DELHI CASE or 2G SCAM –RAJA CASE and OTHERS. If media would not there these cases would have been buried into a soil with decoration of flowers on them. It was media only who guides and enlightened people with facts and happening.


One of the professional on social media Jon Davey say Media as “Meaningful (M) Engagement (E) Done (D) in Appreciation (A)”. Yes its era of social media and not traditional media which is into the talks of not just Buzz or corporate town but every other house across the street. Social media is gaining tremendous demand especially in young generations. And it’s a boom over any countries’ market.


Some of the good examples which shows magic of social media are:

Over 20% of KAYA skin Clinic sales through Facebook.

Fashion Industry Giant Myntra.com earns its 25% of revenue through Facebook.


Below is the diagram showing some facts of Social Media Industry:


Fig 1. E-Commerce sites Ranking



In future social media will outpace traditional media. Some of the major difference between traditional and social media can be:


Traditional Approach

• Controls content seen by audience

• One-way communication

• Domineering approach

• Exclusivity agreements


Social Media Approach

• Emphasizes audience contribution

• Two-way communication

• Discussion approach

• Trust building


Below diagram shows the growth of social media in the years 2010-11.

 

Fig. 2-Density of Users visiting online media



One of the exercises on JetBlue which uses Social Media to Connect with Customers. Here are some facts:

• JetBlue is there on Twitter, YouTube and Facebook showing its continuous participation

• Recently social media efforts by JetBlue were launched from a YouTube apology in February 2007 regarding their services.

• Twitter usage initiated with listening, then grew to responding to questions, and is now medium for full blown conversations.

• For JetBlue, social media usage is “less about direct sales and more about brand building”.

Next exercise in the same category is “Kogi Korean BBQ Taco Truck”. What it did is simple used combination of blog, flicker and twitter to promote itself and then miracle happened. Average of 10 people per stop turns out to be 800 people per stop.


 

Fig: 3-The Burger Eater



Then Mahindra did a Car Launch

 

Fig4- Mahindra XUV500



What they did is: Reveal about the Name Contest web wide and result came out to be

• 150,000 people participated

• 35,000+ requests for Test Drives

• 8000 Cars booked in 10 Days


Now here comes the question why should we care about social media?

Below table shows the number of users of some of the latest social media sites and gadgets:


No of Users (Million)

Facebook

1000+ 88+

Twitter

500+ 20+

LinkedIn

225+ 20+

Mobile

6800+ 900+


According to recent trend and buzz that Social Media has created around itself, Headlines of future will be:

“Server” Farms responsible for 68% of world’s Carbon dioxide emission.

Wiki entries hits approximate of 18 trillion.

U.S. consumer spend more time online and networking than getting sleep.

Pandora hits 200,000 on offering of intelligent services.

World leader came together on table to discuss seriously on global media addiction epidemic.

End to money? U.K. treasury closes majority of its bill printing plants as mobile payment takes over.

“Global anti-social atomization” league meets on battle field i.e. on internet face to face.


Major marketing brands like Coca-cola, L’oreal, Nike have lately launched aggressive Facebook campaigns to capitalize and gain advantage out of social media. All E-commerce sites such as Flipcart, Ebay, Amazon are available online to shop before customers are other good examples and they are making sound profits as well.


Still some myths generally people do have regarding social media:

1. Social Media is Just a Fad

2. Social Media is Just for the Young

3. There is No Return in Social Media Marketing

4. Social Media Marketing isn’t Right for This Business

5. Social Media Marketing is New

6. Social Media Marketing is Too Time-Consuming

7. Social Media is Free


As we say coins has 2 side, despite all the development and revolution in media there are some negative angles and bad faces which are hiding from people are really need to take care of so that they don’t overuse it or use it to misguide anyone.


For example “Mumbai terror attack” and a role of Television Media in that. It was tragedy in Mumbai for 48 hrs. But channels didn’t appear regulated instead they were over excited as if it was “live war reporting”. Position of police and commando officials in the initial stages of encounter in Taj Hotel was shown clearly that left ATS chief Hemant Karkare and others dead. Worst was the conduct of the so called camera man to zoom on everything as they lay on ground. The government also work up very late and by the time TV channels stopping showing live it was already too late. But our electronic media made a mockery out of itself.


There are also some ethical issues of media special on social media part regarding privacy, accuracy, accessibility and property.


After collating information and frame working into a document in a perfect way which I could, I hope that which required lots of research and analysis I can say now that “Media brings the whole universe into our hands and laps.


This article has been authored by Apurva Ramteke from IIM Raipur


References:

http://www.unileverusa.com/Images/FOM_Final_09_tcm23-206938.pdf

http://www.forbes.com/sites/ciocentral/2013/09/12/the-future-of-social-media-forget-about-the-u-s-look-to-brazil/

http://www.buchmesse.de/pdf/market_climate_media_2013.pdf

http://www.weforum.org/content/global-agenda-council-future-media-2012-2014

http://www.cmp.ucr.edu/education/programs/digitalstudio/studio_programs/vidkids/medialit.html

http://morpheusarchetypes.com/read_artical_new.php?id=54

http://www.terrapinn.com/conference/socialmediaworld/


Advertisements


If you are interested in writing articles for us, Submit Here


Related Business Articles You May Like: