How the New Media are Used in Business
From Baruchnewmedia
Introduction
What we are seeing on the Internet right now is a major upheaval of business models, a revolution that is going to be viciously fought from both sides, by the newbie’s disrupting everything, and the old-world powers very upset at how the newbie’s are breaking down what were lucrative barriers for them. That high marble tower the newspaper industry used to peer down from is crumbling. The music industry, or should we say last century’s music industry, that acted both as boon and filter of music, is also facing demise. No longer can a mighty few decide what is news for the masses to consume, and no longer can they decide who becomes an overnight sensation. After they spent billions years, and enormous amounts of influence conglomerating and streamlining, the media world suddenly decentralized under their feet. It wasn’t just that the audience got tired of packaged news and packaged music and packaged choices—they did tire of that, relatively quickly—it was that the Internet provided the autonomy media companies had actively blocked. In addition, they are still trying to block it, still trying to turn it back to the old way. While they figure that out, it’s good news for upstarts, locals, small ventures, and nimble, creative types the old media world effectively blocked out in the past. The new people are understanding and taking advantage of sites like YouTube. The decentralization YouTube spearheaded floods the market with competition, which something conglomerates over the years worked very hard to push away. It’s their own fault. A music video is essentially a three-minute commercial for a band. The second the music industry start treating these promotional vehicles as anything but what they are was the minute people started rebelling. YouTube and sites like it just add another promotional channel and a very effective one at that.
That’s why this story about a Denver-based singer who says YouTube helped him go from playing tiny blues bars for, at most, hundreds, to playing for thousands. Joe Bonamassa says fans go to YouTube to check out local artists before wasting their energy to see them live. Meanwhile No Doubt gives away downloads with concert ticket purchases, and Lamb of God sells commerative CD/USB/Vinyl packages with tracks separating out drums, bass, and guitar for those who emulate them. It’s starting to become hard to remember that it used to be different, that bands and musicians had to trek around in the wastelands of obscurity, hoping (usually in vain) to be discovered by some music giant. If that never happened, so many gave up to go into real estate and insurance sales. One wonders if they’d taken the same route if they’d had the advantage the Internet is giving musicians just ten (five) years later. And that’s the point. Those barriers are gone and good riddance.
Reference: Lee Miller, Jason. “Wanted: New Media Business Models” WebproNews. 03/15/2009.[1]
Corporate Blogs
This section has it's own page here Corporate Blogs
The use of blogs has grown among corporations world-wide. Its use has provided corporations with an outlet to reach out to its customers, as well as many benefits that may help push these corporations to the top of their industry.
Wikis on the Company LAN
This section has it's own page here Wikis on the Company LAN
How Business is Using Social Networking
This section has it's own page here How Business is Using Social Networking
Marketing and Advertising using New Media
This section has it's own page here Marketing and Advertising using New Media
How Businesses can Use New Media To Make Profit?
You all probably asked yourself how facebook,yahoo,google and many other sites that offer services for free make money? Why are these sites worth so much if anyone can use them for free?? The answer is simple they make money by selling advertising space to anyone who seeks to promote their business online. These sites provide the companies with a very close link to their audience. This makes it a great area for marketers to reach targetted audiences. These sites are used by millions of users, who log onto these sites mulitaple times a day. New media has provided these businesses with a platform to advertise and find new customers. Here is an article that talks about how facebook makes money enjoy! http://www.marketingpilgrim.com/2007/08/facebook-really-does-make-money.html
New Media Technologies in Business
“If your concept is solid, your timing is right, and your commitment to your core idea is unshakable…. ….the message has to be crafted carefully, the resources invested wisely, and the potential and actual payoff evaluated closely.”- Robert Tuchman
New Media for a business must display the concept of who you are to the outside world and it has to compel them to come inside. Making sure your website contains search engine optimization friendly text and linking it to buying strategies will help the site's ranking. The Internet is so advanced that its nearly impossible for a business to distinguish themselves, but the transport of information, data, human voice, and image will have the greatest accomplishment of all.
Amazon.com, for example, has expanded its business model to let other retailers use its logistics and distribution services. It also gives independent software developers opportunities to buy processing power on its IT infrastructure so that they don’t have to buy their own. Mobile virtual-network operators, another example of this trend, provide wireless services without investing in a network infrastructure. At the most basic level of unbundled production, 80 percent of all companies responding to a recent survey on Web trends say they are investing in Web services and related technologies. Although the applications vary, many are using these technologies to offer other companies—suppliers, customers, and other ecosystem participants—access to parts of their IT architectures through standard protocols.
Creative leaders can use a broad spectrum of new, technology-enabled options to craft their strategies. These trends are best seen as emerging patterns that can be applied in a wide variety of businesses. Executives should reflect on which patterns may start to reshape their markets and industries next—and on whether they have opportunities to catalyze change and shape the outcome rather than merely react to it.
Quoted Source: Manyika, James M., Roger P. Roberts, and Kara L. Sprague. "Eight business technology trends to watch ." McKinsey Quarterly. N.p., n.d. Web. Dec. 2007. [2]
GoodSearch: A Search Engine with a Heart
Search engines have devised new programs to help nonprofits, schools, and charities benefit from the advertisements that appear whenever anyone enters a search term. Two search engines that are offering such services are GoodSearch and GOOGLE. GoodSearch funnels 50 percent of its ad-generated revenue to various nonprofits each time one of their supporters types in a new search term,. Google Grants program allows nonprofits to spread their messages by allowing them to place free advertisements that show up alongside Google search results.
"When I read that Internet search engines generated close to $6 billion in advertising," said GoodSearch co-founder Ken Ramberg, "I thought to myself, 'What if even a fraction of that money could go toward good causes?'" GoodSearch expects a nonprofit organization to receive around one penny each time a visitor conducts a unique Web search. Although a penny is a small amount, but those pennies can add up quickly.
More than 22,000 non-profits and schools are now generating revenue from the site and more than 100 charities and schools are registering daily. • The Cystic Fibrosis Foundation went from 3,040 searches in June to more than 47,000 searches in September, and GoodSearch searchers have, in the process, generated more than $1,500 in ad revenue for the Foundation.
• The Elephant Sanctuary in Tennessee, the country's largest habitat refuge for endangered elephants, has raised more than $1,900 in just a few months.
• The Penn State Dance Marathon, which helps thousands of children and families fight pediatric cancer, raised more than $1,400 by promoting the site and having people do their searches through GoodSearch.
References
http://www.techsoup.org/learningcenter/funding/page5652.cfm http://www.usatoday.com/money/smallbusiness/columnist/strauss/2006-11-19-giving_x.htm http://money.cnn.com/magazines/fsb/fsb_archive/2006/03/01/8370310/index.htm http://abcnews.go.com/GMA/MellodyHobson/Story?id=2724129&page=1
Google Grants: Free Publicity for Your Nonprofit
Google is leveraging sponsored listings to help nonprofit organizations. Google Grants program allows the nonprofits organization to advertise by providing them with free Sponsored Links, ads that appear to the right of the search-results based on the keyword whenever a user submits a Google query. To apply for a grant, the organizations have to submit an application. An application might take up to six weeks to process and the organization might have to wait up to six months to qualify and receive its grants.
"Google Grants recipients use their award of free AdWords advertising on Google to achieve various goals, whether it's to raise awareness about an issue, increase Web traffic, or reach new donors or potential volunteers," Sandberg said.
Organizations that receive a Google Grant are awarded an with an online advertising account which can be used to outreach the general public, advertise about fund-raising activities, and inform the audience about the recruitment of volunteers. Google Grants participants have found much success with the program. For example, the US Fund for UNICEF's e-commerce site, Shop UNICEF, experienced a 43 percent increase in sales over the previous year, while CoachArt an organisation supporting children with life-threatening illnesses through art and athletics programs has seen a 60 to 70 percent increase in volunteers.
For example, the Environmental Law and Policy Center gets up to $10,000 worth of Google ads provided free of charge each month to help promote its green efforts. A search for "Hillary Clinton" turns up an ad suggesting the ads link to IowaGlobalWarming.org.
Eligible nonprofits include, but are not limited to, the following focus areas:
Animal rescue & conservation, Arts, Disaster & relief services, Education, Environment, Health, Science & technology, Voluntarism & community outreach, Youth advocacy & programs
New Media effects on Managing and Hiring
There is a lot of heads butting out there in the corporate world regarding their opinions on the roles new media should play within a company. Most old school approaches believe employees do not need access to the internet, their personal email, or anything from outside of the corporate office that could distract employees from doing their jobs and lowering efficiency. Your place of employment should be respected but certain freedoms should not be placed under lock and key. Most knowledgeable managers will know that people are not meant to be robots and some form of downtime on a daily basis does the mind and body of their employees good and keeps them from burning out. You will find most corporate offices lax in their approach to controlling every aspect of what an individual can and can not do during the work day. Of course there are some issues that are no brainers and every Human Resources department will take very seriously such as viewing porn, viewing or participation in hate group web sites, and attempts to maintain side businesses on company time such as ebay auctioning. Companies put in place controls to either monitor or block access to content that is regarded as inappropriate within the walls of the organization and on company equipment. One thing that is certain with the immense growth of tools and popularity that the internet has developed it is rare to find any job role that can not at this point take advantage of offering internet access to its employees. Especially with the vast amount of information and quick access to any kind of information available that Google and other search engines have been able to deliver.
Social Networking finds itself deep in fuzzy territory when it comes to whats appropriate on company time. Sites such as Myspace, Facebook, and twitter have been viewed as a juvenile pastime by many heads of organizations. But they are vastly being adapted not only by more mature generations but by corporate initiatives to have value in maintaining relationships and providing services. Even companies now come out with their own Myspace and Facebook fan pages to keep the followers intertwined with business marketing developments. There will always be the argument that these sites are tools of leisure and have no place in the office space and that their primary function is the absorption of concentration of employees of what they should actually be working on which in turn lowers efficiency and production. At this point with the revolutionary changes of phones now having texting, instant messaging, facebook and myspace apps for blackberries and iphones its almost impossible to think you can control social networking. Many learn to embrace it and roll with the new.
There is an interesting trend that is also making way with the younger generation and employment opportunities. With the younger generation so intertwined with their social networking and new media and it being such a big part of their lives its only natural they would seek to use these forms of communication to their advantage once they are in the working world. It is not uncommon now to have interviews inquire on the policies of internet use and social networking sites such as facebook. With so much of the college graduates already comfortable with this technology it has become a freedom that is expected now in the workplace. Many turn down opportunities that place too many restrictions on their use of personal freedoms. From the other point of view there is also a change happening. Many companies now seek employees that are tech and internet savvy. The expansion and usability of the internet for company use is being more and more proven and demanded as we further reach out into this global marketplace. Companies now want the fresh young approach to drive processes into the next century and they want the employees that understand this technologically changing world at their finger tips. This article by Amber Naslund is a good example of how human resources departments will now scout for personality traits that exemplify the use of technology and all its applications. http://www.socialmediatoday.com/SMC/144949.
References
http://www.multiculturaladvantage.com/opportunity/grants/detail/open/Google-Grants-In-Kind-Advertising-Services-to-Nonprofits.asp http://www.google.com/grants/details.html http://www.clickz.com/3627925 http://www.techsoup.org/learningcenter/funding/page5652.cfm
Cases
This part will deal with the many cases that are involved with New Media
A partnership between Old and New Media - Examines an interesting partnership between Curbed, a blog network and the Village Voice, an established weekly newspaper --Awad Sayeed
