{JMC 335} Refelctions

Funding Journalism, a book that we're reading in JMC 335 which deals with how to create financially stable media in the digital age, makes the suggestion that media should consider price discrimination.

In price discrimination, a company would charge consumers more or less depending on the demand in each consumers' market area. For example, in 2000 it was discovered that Amazon.com was allegedly charging returning customers more than new customers for DVDs. Amazon denied the allegations, saying that they were testing consumer behavior and that the price changes had no correlation to customers' past buying habits.

Whether or not Amazon took part in price discrimination does not change the fact that this practice is alive and well in today's market. I've seen many instances where photographers, for example, will charge twice as much to shoot a wedding than they would to shoot a similar event such as a quinceanera or large birthday party.

I understand why this practice might be put in place. It's all about making the money. But I don't think it's a always a particularly ethical practice. Charging people more because they are desperate for your product or services generally doesn't seem like the humane thing to do.

At the same time, the types of price discrimination proposed in Funding Journalism includes practices like releasing news for a fee when it first breaks, but then releasing it for free (supported by ads) after a time. This would be similar to what TV networks do with shows--release them on the network, which customers have to pay for by getting cable, then releasing them on for-a-fee sites like Amazon and iTunes usually 24 hours or so after the show airs, and finally releasing them via free sites like Hulu or their own network sites usually around a week after the show first airs.

This type of price discrimination bothers me a lot less because it doesn't seem that it's taking advantage of someone's situation or need in order to make more money. It's simply offering premium services at a premium price.

--Lindsie

{JMC 335} Key influencers

As my primary interest lies in social media, business and weddings and how the three interact, my key influencers would include social media moguls, business experts, and wedding vendors and experts.

One of my top influencers, I have (and readers may have also) noticed, is Liene Stevens of Think Splendid. She pulls together the ideas of using social media for marketing wedding businesses beautifully, and I just can't get enough.

With my final project that I will be probably be doing on Julianne's Prom Closet, key influencers may also include local news media and bloggers who may also be interested in the story.

--Lindsie

{JMC 335} Reflecting on a picture's worth

We've all heard the old adage, "A picture's worth a thousand words." Many have endorsed this message, emphasizing the role of photos and other graphics in reporting, marketing, books, social media and other mediums.

But, when it comes to a photos's worth, I'm a non-believer. A content atheist, if you will. There is no one type of content to rule them all. Have you ever seen a photo, only to want to know more about what is happening? That's why we have captions. And stories. To give the reader more.

There are a couple of things that pictures do that text cannot: Photos and graphics can grab the reader's attention. Also, in some research I've been doing, I encountered a 2000 study which suggested that photos help the reader to retain more of the information they read in-text.

So, will photos save the world? I think not. Will they save your publication, or suddenly make terrible writing fantastic? No. But are they one piece in the puzzle of good content? Absolutely.

--Lindsie

{JMC 335} Social media, business and millennials

A couple weeks ago, I did a post on how marketing to millennials is different, based on insight from Liene Stevens of Think Splendid.

One of the claims Stevens makes is this: "Social media changed how older generations communicate, but it mimics how millennials have always communicated."

An infographic created by Envelopments based on Stevens's insights.

This is such an important concept to consider when working on business marketing and communication strategies. Experts have called millennials "old souls," because research shows that they have a reclaimed interest in community--which shows in their use of social media.

Social media are all about community. Research done by Lesa Stern and Kim Taylor in 2007 showed that millennials use Facebook to stay in touch with old friends and to connect with new ones. Facebook, as well as other social media, are used to build and solidify community.

Advertising on Facebook to millennials in the US has an estimated reach of almost 100,000 people.

The potential for businesses benefit from the community in which millennials engage on social media sites such as Facebook and Twitter is huge. Market research shows that millennials look for brands on social media sites, and that around a third of millennials are more likely to buy from a company that has a mobile website and a Facebook page.

A handy graphic from eMarketer.com showing some of the results of
the Barkley research mentioned above.

The question now, perhaps, is how businesses should move forward in using social media as a tool to relate to the millennial generation (who, might I add, make up around 25% of the U.S. population).


--Lindsie