Chapter 7: New and mobile media technologies, innovation and investment

Chapter 7: New And Mobile Media

Technologies, Innovation and Investment

By: The Chosen Ones Julian Arias, Janelle Holland, Gabrielle Prendatt-Carter,

Adriana Moran, and Ihsaan Flemming

Introduction ●Pg. 129,“Twitter is the socialization of our inner lives.” -

@UncleDynamite(2013)

●Have you ever thought how Amazon.com worked?

●Customer engagement is important

●Amazon reviews become relevant to businesses

EntrepreneursSocial Media gives refreshing view to create apps

Many for the public to use

Apps like Vine, Snapchat, and the NEW app (Music.ily)

Angel Investors and Start-Ups Business men and women like to take risks

Developers claim “people do not go anywhere without phones”

Selective news of the new generation

Start-ups want a “starting” place for their businesses

“Crush It” and the Thank You Economy

SNS Launch Year Estimated Active Users

1.Facebook 2004 1.19 Billion

2. Google + 2011 540 Million

3. LinkedIn 2003 259 Million

4. Twitter 2006 232 Million

5. Instagram 2010 150 Million

6. Pinterest 2010 70 Million

● Gary Vaynerchuk was an early adopter of social media platforms as a way to build brand identity.

CrowdfundingThe practice of funding a project or venture by raising many small

amounts of money from a large number of people, typically via the Internet.

Examples:

1.Kickstarter2.Go Fund Me 3.Indiegogo

Emergence of New and Mobile MediaSocial media are beginning to also drive mobile video viewing.

The U.S. study found about one third (35%) were watching on mobile devices, with about 35 of the 50 million mobile viewers discovering videos through social media.

During the annual March Madness college basketball tournament, for example, about one third watch games on mobile devices, and two-thirds check scores

Implications of Revolutionary Mobile and Social MediaSocial media behavior tends to favor a crowdsourcing desire because

mobile technologies create flexibility to briefly bring people together physically or virtually and “plug in valuable information”

At the heart of social and mobile media are relationships, social ties, social capital and motivation

Social capital theory has been applied to research on Facebook fan pages. Social interaction, shared values and trust are important predictors of future use

2011). The researchers suggest that there is a complex process involving structure, cognition and relational aspects. As expected, “shared values are an important factor influencing trust” of social media content

Continued.Zuckerberg suggests that Facebook may fill a void in face-to-face conversation lost for social or political reasons: “I believe that Facebook’s ability to occupy the space of a free and unmoderated media and civil space will bring many more opportunities for meaningful democratic change”Online social networks may allow us to visualize “clear patterns” of affiliation and communication The difference is that smartphones and tablets offer more options and extremely current content. While political discussion may account for relatively small proportions of social media on Facebook—especially outside of a presidential election—it is more common among those using Twitter

Twitter ImpactTwitter has been a social media space for #success & #fails

Example: @Entenmanns: Who’s #notguilty about eating all the tasty treats they want?! ( July 5, 2011)

Naturally, the failed attempt to hijack a popular hashtag— hashjacking —backfired, as Twitter users responded with criticism.

Keenan (2013) explains that brands need to research whether or not a hashtag is promoted by another brand or linked to a tragic event.

Brian Zuercher

-Seen, a Columbus, Ohio, start-up that uses visual marketing to drive customer engagement and encouraged Indy 500 fan sharing on race day #Indy500orBust.

-The photos were incorporated into race marketing through an interactive map and geo-tagging

-The Indy 500 gained new followers to their social media accounts and a greater reach

“The most significant change for marketing professionals is the concept of always on.”

1.Industry information flow: We now have access to a fire hose of data and understanding how to manage and synthesize the massive amount of incoming information can be a challenge. At the same time, with the right tools the data can be turned into actionable insights.

2.Personal identity: It’s essential to keep your brand’s personal voice authentic and in line with your company’s positioning.

3.Channel awareness: Marketing professionals must have a true understanding of this and it should not be delegated.

In summary...

The largest challenge will be having a healthy balance between your time spent participating online and offline. The best way to strike a

balance between the two is to understand the mediums and be strategic about which platform makes the most sense for your

business’s audience.

Mobile Geotagging Location-based services (LBS) leverage mobile and social media by linking “people, places and things to enhance interactions”

Conceptually, a sense of place may be meaningful to people: “Space is considered a more abstract term. Whereas place is considered more concrete”

Researchers do not fully understand how users’ mobile geotagging—placing digital tags on people, places or objects—develops within a

social context, but there appears to be “place-based storytelling and self-presentation through place”

- Smartphones facilitate real-time social media behaviors

Google Glass- Instead of being constricted to holding a smartphone, Google Glass

allows you to see a screen via a pair of glasses

- Google released the technology, and developers have begun to build apps for it.

- Ideas include: hands-free information for bike riding, cooking, golf and travel (Google, 2013)

- Although a great source of information, it will take some time for social media platforms to incorporate data from wearing technologies

- May improve crowdsourcing