According to a recent panel of said experts, traditional media must integrate with social media if it expects to survive into the future.
There is certainly something to be said for the revenue potential in a union of traditional and new social media. There is also something to be said for the fact a billion dollars worth of vinyl records were sold last year.
Yes. With a “B”. Billion.
Once upon a time everyone who listened to music had a record player. Then cassette tapes came along, then CD’s and soon enough record stores closed down and record players all but disappeared. Only they didn’t disappear completely. They lingered and continued racking up sales from folks who simply prefer the sound they get from vinyl records over anything else.
So, here we are in the digital age and vinyl records, a technology from more than a century ago, remain a billion dollar industry.
There is lesson here for traditional media who fear social media will spell their doom. If they continue to provide quality, people will continue to pay them for their services.
And partnering with social media is one way of providing a quality service.
Modern media should adopt all the possibilities and be aware of the limitations that social media create in order to have more efficient communications with the audience, media experts said in Moscow on Thursday.
Russian multimedia news agency RIA Novosti held a special session of the International Future Media Forum titled “Russian and Foreign Media: Past, Present, Future” with Russian President Dmitry Medvedev and top media experts taking part in the session.
The participants were discussing how social media can help the traditional media to target their audience with specifically tailored news pick ups for every reader.
One of the top U.S. IT-investors, Esther Dyson of EDventure fund, said that personalized media serve as a filter for users, delivering only news the reader has subscribed to or that his friends have shared.
However, the importance of the news cannot be determined only through social media platforms, said Andrei Sebrant, the marketing director of Russian search engine Yandex.
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