There’s no words that can describe how badly Google (and its video sharing site YouTube), Facebook, Twitter and the other behemoths of the internet and social media have screwed up the internet and social media. Any business that’s ever bought advertising on them and any publisher who’s ever used their platforms and/or been an advertising publishing “Partner” with and for any of them can attest to just how badly they’ve messed everything up.
Almost nobody’s making any money off of any of them except them. They’re all collectively the dirty deed days of Walmart when it bankrupted all of its Suppliers and then moved on to the next pigeons.
Now Major Media and Telecom are getting in on the act and they’re gonna do the same dumb things that drive everyone crazy trying to not be driven broke by these guys. And the Big Media/Big Telecom guys will find what even most of the monsters of the web have found.
Many of them won’t make any money either.
Microsoft is never getting its money back from the LinkedIn acquisition. They paid $20 billion more than it’s worth and not even the masters of Tech Market manipulation can’t turn those lemons into lemonade. What it bought was an email list. That’s about it.
Email addresses and SmartPhone numbers are really just about the only thing worth anything on the internet and social media. Everything else is a constant fight to be seen and heard above the enormous noise. It’s costly and unless done really well simply money thrown in the trash. And it’s really hard to do it really well.
Especially for large companies who have to try to cater to everyone. If you can hone your target down and really build a loyal base you can turn it into something profitable. But it means treating that audience base like cropland that must be well tended every day and especially on freezing nights.
Because somebody is always going after them. Somebody who will probably never tend to them as well as you have but they’ll dangle baubles. Especially now. There are two things to remember about the BigTelecom Industry. First, it’s the Industry that keeps paying to buy each other’s Customers. The latest is one of the Giants offering $600 to new Customers to cover the costs of early cancellation of existing contracts. Y’all have probably seen the commercials. They’re everywhere. Six months from now the losers in that fight will start their own campaigns and add to the already free SmartPhones, cash to cover coming back costs of cancelling on that Carrier they just went to and now Television on your SmartPhone without data charges. As long as it’s the “right” television that is.
The second thing to remember is the BigTelecom Industry has a Customer satisfaction level of 7%. Meaning 93% aren’t happy with them. And now they’re gonna mess with everyone’s TV Watching.
Does anyone thing that 7% satisfaction number is going up after that?
This is going to be an ongoing series because this is going to be an ongoing project to drive New Media to improve Old Media. And the first step is to make Old Media irrelevant. Media is like the NFL. When it doesn’t have any competition it’s always at its worst. And that competition isn’t coming from within and it’s not coming from all of these acquisitions.
Just as most Major Corporations are already nervous that new start-up companies who are much more tech savvy and nimble and don’t have all of the existing huge costs will eventually take their business from them, so is true of Media. The only way to make Media better is to make it unnecessary.
THEN it will have to begin getting good at what it does. Including and especially making certain that business is good for everyone who does business with them.
Neither the internet and social media giants nor the telecom giants will do that. Their entire history is built on screwing everything up and surviving on size and limited competition.
That is absolutely NOT the model to move forward on building the coming $3 Trillion a year SuperIndustry of New Media that will drive all other Industries. Not even close to the model.