coffee and a chat with joanne jacobs or, the business case for transmedia
DESCRIPTION
Coffee and a Chat with Joanne Jacobs Or, The Business Case for Transmedia. Joanne Jacobs COO, 1000heads | @joannejacobs. Image source: http://www.flickr.com/photos/wwworks/2896811680/in/photostream/. Session Promise. To discuss the perception of transmedia by the business world - PowerPoint PPT PresentationTRANSCRIPT
Coffee and a Chat with Joanne Jacobs
Or, The Business Case for Transmedia
Joanne JacobsCOO, 1000heads | @joannejacobs
Image source: http://www.flickr.com/photos/wwworks/2896811680/in/photostream/
Session Promise
To discuss the perception of transmedia by the business worldTo acknowledge the role of recommendations in developing trustTo show how social channels can be used to shape programmingTo identify new ROI metrics for transmedia strategies
Image source: http://www.flickr.com/photos/thomasvdb/379546998/
Transmedia
Image credit: http://deanashour.wordpress.com/2011/04/13/reflective-blog-on-interactivity-transmedia-storytelling/ Ownership of image not specified.
Transmedia and business
Transmedia in business
Leaving aside the fact that no-one in business uses the term ‘transmedia’…
Business doesn’t yet understand how to make use of multiplatform experiences
Multiplatform or 2 screen experiences often (wrongly) considered as merely ‘another marketing channel’
Image source: http://ansonalex.com/infographics/social-media-usage-statistics-2012-infographic/#infographic originally posted by OnlineMBA.com
Inhibitors to success
Difficult for traditional media people to drop broadcast mentality
Difficult for marketers to resist controlling messages
Difficult for business to grasp that sales is not the only way to optimise business and generate profit.
Image source: http://www.flickr.com/photos/kevenlaw/2285791176/
Value of transmedia
• Spreads the burden of content development
• Reduces the risk of programme investment
• Reduces the cost of (traditional) marketing
• Optimises experience for consumer/producer, encouraging greater content loyalty
Image source: http://www.flickr.com/photos/wwarby/5157714032/
THIS MEANS…
You don’t make money from transmedia.
You save money with transmedia.
Image source: http://www.flickr.com/photos/17258892@N05/2588346772/in/photostream/
AND…
Businesses LIKE to make money.
Image source: http://www.flickr.com/photos/calliope/2207307656/
SO…
How do we make transmedia
more appealing to business?
We need to better articulate ROI.
Image source: http://www.flickr.com/photos/zanotti/281538625/
Value – some definitions
Value: benefit from a good/serviceUtility: aggregate sum of satisfaction or benefit that an individual gains from consuming a given amount of goods/servicesPrice: market rate at which goods/services are exchangedEconomic cost: amount paid for a good/service when compared with alternatives. This includes total, variable, fixed, marginal and opportunity costs.
ROI is based on economic costs, not value or utility.
Image source: http://www.flickr.com/photos/unleashcreativity/2877558527/
Transmedia saves money
ROI of transmedia is drawn from
opportunity costs –cost to business of
failing to adopt next best option
and from variable costs – expenses that change in
proportion to the activity of a business
Image source: My wallet and phone.
Business optimisation
The ROI of transmedia is in business optimisation.
The ROI of transmedia among users is quality of information and participation.
Image source: http://www.flickr.com/photos/42843806@N00/8209826047/
So….
Businesses will adopt transmedia when it’s what competitors are doing.
And….
Businesses adopt social strategies because it’s cheaper market research/product
development/supply chain management than existing processes
Image source: http://www.flickr.com/photos/jeffanddayna/5067383625
The value of recommendations
Recommendations culture
• Content industries traditionally influenced by recommendations
• Increased trust on recommendations as a source of purchase decisions
• Growth of social tools encourages expression of recommendations
Why Social Media Exists
• Decline in trust of corporate sources
• Need for specialised information
• Understanding that expertise is located around passionate individuals, not necessarily around paid endorsers
Image source: http://www.flickr.com/photos/christopherdombres/4462311122/
Trust
Trust is generated through a history of voluntary
contributions of useful, reliable
information
Image source: http://www.flickr.com/photos/vagawi/3155400274/
Stories as Sources of Trust
Most valued contributions of information come from people you know
Stories of experiences are the most likely vector of such information
Image source: http://www.flickr.com/photos/ckovalev/463141632
Influencers
People near youPeople you respect
Both develop a history of
interactions based on trust
Image source: http://www.flickr.com/photos/36821100@N04/3896331106/
Recommendation effect
Content that is:• Augmented by a recommendation system;• Promoted by influencers
…. Generates trust and loyalty in the content brand, potentially increasing ‘sales’.
…. HAPPY BUSINESS.
Image source:
Collaborative content development and business
Collaboration
Business proposition for collaboration is in creating buzz
Not used to the idea of changing programming content on the basis of audience interactions!
Image source: http://www.flickr.com/photos/aussiegall/345009210/
True value of collaboration
Forging trusted networks
Content interactions as a source of continuous improvement of programming
Audience directed content development
Generating loyalty
Image source:
What we should be saying
Collaboration generates:•Value: great content for all platforms. •Utility: involvement, engagement, communities, participation.•Increased price for content: as loyalty rises, likelihood of revenue generation from content increases (merchandising, games, add-ons, etc).•Reduced costs of production: as content is developed collaboratively, there is less need for capital investment in content.
Image source: http://www.flickr.com/photos/jurvetson/916142
ROI Metrics for Transmedia
ROI metrics for transmedia
• Interaction complexity (2-3 competitions)
• Community sentiment• Cost per acquisition• (Reduced) costs of
content development• Opportunity costs of
isolated (traditional) media
• NOT fans, number of platforms, number of interactions, brand recall, views/visits, etc.
Image source: http://www.flickr.com/photos/aussiegall/5198365474/
Delivery of Session Promises
Discussed the perception of transmedia by the business world, and identified inhibitors to successExamined how trust arises from recommendationsShown how social channels can shape programmingIdentified new ROI metrics for transmedia strategies
Image source: http://www.flickr.com/photos/thomasvdb/379546998/
Joanne JacobsChief Operating Officer, 1000headsp: +61 2 9809 8966 m: +61 2 419 131 077e: [email protected]: @joannejacobs
Questions
Unless otherwise specified, all images used in this presentation are Creative Commons under an attribution licence. All sources are identified.