Here’s the deal:
You’re a broadcasting or cable network trying to monetize the second screen experience.
Unfortunately, no-one’s buying as you haven’t promoted the product, even though it’s the younger demo who are interested (see link number 1).
The solution?
You could market the product a lot better but do you think people will be interested?
That’s the big question.
First, if you want a very cool infographic on how Facebook makes money, click here (Aldo Baker did an excellent job on this. An excellent read):
http://www.business-management-degree.net/facebook/
TV shows use Facebook and Twitter to reach out to their audience and keep them engaged before, during and after the show.
The only problem from an ROI POV:
a) does this engagement boost the program’s ratings?
b) how much money could a network gain from this?
Fortunately, these questions could be answered once Neilsen and Facebook start tracking this; interesting times indeed:
http://time.com/2990409/nielsen-partners-up-with-facebook-to-track-television-viewing-habits/
I love the media and entertainment industry. Often times, I’ll tweet about non-business/entertainment items so I can inspire everyone or make a difference in someone’s life, even it’s a tiny difference. Today, I want you to THINK BIG. DREAM BIG. Life’s not a dress rehersal. You only have one life. MAKE IT COUNT. For me, it means shifting from being a marketing generalist to a specialist in M&E (media and entertainment) issues. My dream job? Becoming a research analyst/CI/product specialist/consultant to help them succeed in the marketplace. It could be helping them improve their back end processes (supply chain, customer service etc) or analyze how a new technology like Meerkat can help content creators or M&E market their product. What started all this? When I congratulated my best friend via social media who got a new job in the Big Easy. She indirectly demonstrated that by thinking big, following your passion and keeping your options open, anything can happen (it’s amazing how the Universe pays attention).
Are there going to be challenges? I won’t lie, of course there will be. What’s going to keep me going? Everytime I read an interesting social TV/technology/other article – I’ll keep thinking “how will this affect M&E?”
Plus these words from Dr.Seuss (thanks for the inspiring tweet @Lauralives20)
“You have brains in your head and feet in your shoes, you can steer yourself in any direction you choose!”
Carpe diem.
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