Socialnomics Top 3 Trends

1. Every Individual is a Media Outlet.
The book Socialnomics by Erik Qualman encompasses the many reasons why I left the commercial production and news industry three years ago. I began to notice the evolution of the advertising industry and integration of TV and the Internet. One-to-one communication via the very TV commercials I was creating was becoming obsolete in its current form. I decided it was time to go back to school to become a part of the revolution and learn how to lead and shape the future of marketing. I am learning that the most powerful marketing tool and medium is the consumer as Qualman emphasizes, "Every individual is a media outlet." People want to talk about and promote their favorite products, places and brands. Consumers want their voices to be heard, they want to contribute and make a difference in their communities; meanwhile, their family and friends are listening. This influential, inherent consumer power leads the movement that in the future individuals will no longer seek products and services; rather products and services will find individuals via their social graph. According to a Nielsen Study 78 percent trust peer recommendations while just 14 percent trust advertisements. Although I have a solid background in TV and commercial advertising I have determined it is a good thing I left the industry when I did and here's why...

2. The news finds us - reinvent "Death of the Newspaper" to "Birth of the eNews Blog."
The comparison of the Idaho Bloggers news story, "source B," outshining one of the world's largest and most reputable newspapers, "source A," demonstrates how traditional newspapers are a dieing medium. The example is a poignant demonstration of how the newspaper industry needs to not only digitize its current offering but needs to re-examine its monthly subscription-based model. Perhaps the story stands out as I am an Idaho native that followed and publicized the senator's DUI scandal in addition to other idaho-senator.com stories, such as the Larry Craig sex-scandal that also put Boise, Idaho on the national political map.

Jane's Idaho Senator blog example can also be translated to the local Idaho television stations. Jane's Blog regarding the Idaho senator may have even superseded the Idaho Statesmen newspaper and local news stations. Working at a news station for over five years I watched the role of the Internet News Producer change and increase in importance. I observed news anchors pushing people online for more information, viewers wrote back about the scandal and comments were discussed on air. Rather than waiting for the news at noon or 5 o'clock news cast, people went to KTVB.com for breaking stories. I watched the Internet News Department grow as roaming anchors and bloggers were hired. Idaho Senator stories aside, the point remains that people are obtaining their news from social media and blog sources faster and more efficiently than traditional mediums like the nightly news and daily newspaper. Jane's Blog example demonstrates how social media can reach more people, more quickly and with greater accuracy than even the number one newspapers like the New York Times or Chicago Tribune.

Another dieing newspaper example is the San Francisco Chronicle. My cousin works for the Chronicle and has survived the past five years of layoffs. The Chronicle once employed over 3,000 people with several hundred graphic designers and editors. Two-weeks ago more layoffs were announced and my cousin is now one of only three remaining graphic designers. If the Chronicle doesn't start thinking more progressively, listening to its customers, observing where they obtain their news and pushing news to them via eReaders, iPads, mobile devices, and social media; my cousin could be out of a job within a few short months and the 140 year reign of the Chronicle may end. Instead of allowing the newspaper business to die, perhaps the Chronicle should take a lesson from the New York Times online business model and charge a monthly fee for article pushes to iPads and mobile phones. They should consider hiring bloggers in various regions and start a new section of the ePaper "Regional Blogs." There are hundreds of ways the Chronicle could save its paper by translating it to the virtual eNews world. The number one focus of Qualman's book is that, "Businesses don't have the choice on whether or not they do social media, the choice is on how well they do it."

3. The integration of television and the Internet, why the television industry needs to change it's business advertising model.
As mentioned I left the television industry to pursue a degree in business, marketing and eCommerce because I observed the early integration of TV and the Internet. Three short years later we are watching the television audience early-adapters moving online especially with the release of tablets and iPads. This process was beginning in 2008 and advertisers are as slow today as they were then to move online as Jeff Zucker, former President and CEO of NBC Universal observed in '08. But companies are slowly starting to catch-on shifting brand budgets to digital channels that are more cost effective and easier to track. Companies are beginning to listen to consumers with TiVo and DVR devices as people rarely watch commercials anymore, subsequently advertising models are changing. Companies like Hulu are leading the way learning "less is more" by offering 2 minutes of commercials vs. 8 minutes. Consumers and advertisers alike are benefiting by the Hulu model as ad recall rates are higher for the 2 minute commercial lengths. Consumers feel more in control and supportive of advertisements online as they can choose the format in which they receive the ads and Hulu indicates how long the commercials will be, making it less likely that the audience will leave the screen. Some consumers are even opting to do away with pricy cable bills and rely solely on the Internet for entertainment and television. I am one such consumer who has entertained this idea. Since adding HBO to my cable channels I noticed I watch HBOGO online more than I watch on television because I can watch the shows when I want and catch up on past seasons that I've missed. I fast-forward through commercials and refuse to watch TV unless it's previously recorded on my DVR. I'm considering getting rid of cable subscription channels 2 - 200+ since I only watch the networks (NBC, CBS, ABC). I can watch everything I want online with greater ease, convenient availability, less interruption, and for less money. It will save me about $80/month. The power is moving to the users hands. If traditional television doesn't follow it's audience online it too may become a dieing medium like the newspaper.