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You might have heard: Google and Facebook dominate online advertising with the ability to “offer large, customized, addressable audiences to advertisers,” and publishers are struggling to compete
But did you know: With Google and Facebook dominating online advertising, the digital media market will continue to shrink and consolidate, Michael Wolff predicts (USA Today)
“We are … looking at a last-man-standing period in digital media,” Michael Wolff writes “Unlike in most roiled industries facing oversupply and rising costs, where the last man will be the largest company with the least amount of debt, in digital media — still, after 20 years, without any precise way to judge a winner — it is more about who has the best argument for why they should be a winner. … There are two clear winners in digital media, Google and Facebook, and their imperial success has largely reduced everybody else to a vassal state, living off their patronage and goodwill. This duopoly has forced the cost of advertising down and the price of traffic up, meaning, for everybody else in the advertising and traffic business, prospects shrink.”
+ Noted: BuzzFeed’s reorganization will allow news video to get more attention as it falls under Ben Smith’s leadership (Advertising Age); Vox Media’s Storytelling Studio describes itself as being the intersection of “content, design, and product” (Vox Media); Every Friday until the presidential election, The Washington Post will “flood” social media with fact checks (Poynter)
To create a more diverse newsroom, look outside the traditional ‘pipelines’ (Poynter)
Journalists have said the industry’s lack of diversity is the result of a lack of qualified candidates coming through the traditional “pipelines” — journalism schools and internship programs, for example. But, “attributing a lack of diversity to a talent pipeline is admitting that your newsroom is relying on antiquated methods of finding the best people for the job,” Meredith Clark writes. For a more diverse newsroom, Clark suggests looking outside of those traditional career paths — for example, Mic’s Samhita Mukhopadhyay says she tends to turn to her large community of networking connections for recommendations of people who may have not taken a traditional path to journalism.
Since the attempted coup in Turkey, the government has arrested 48 journalists and ordered more than 100 news outlets to close (Guardian)
The attempted coup in Turkey last month has led to a major media crackdown by the government, Constanze Letsch writes. Since the attempted coup, Turkey has ordered the closure of 102 media outlets — including 45 newspapers, 15 TV channels, 3 news agencies, 23 radio stations, 15 magazines and 29 publishing houses. That’s led to a total of 2,308 journalists and other employees of those media organizations to lose their jobs, Letsch says. Plus, warrants have been issued for the arrest of more than 100 journalists, with 48 being arrested thus far.
Even more important than customer satisfaction is creating an emotional connection with the customer (Harvard Business Review)
While more companies are investing in end-to-end customer experiences designed to lead to higher customer satisfaction, Alan Zorfas and Daniel Leemon write that creating an emotional connection with the customer is even more important than customer satisfaction. Zorfas and Leemon explain their research: “The most effective way to maximize customer value is to move beyond mere customer satisfaction and connect with customers at an emotional level — tapping into their fundamental motivations and fulfilling their deep, often unspoken emotional needs. That means appealing to any of dozens of ‘emotional motivators’ such as a desire to feel a sense of belonging, to succeed in life, or to feel secure.”
The FTC’s challenge in regulating ‘influencer marketing’ on platforms such as Snapchat: The messages disappear (Contently)
“Influencer marketing,” which Dillon Baker defines as a form of native advertising in which Internet “influencers” are paid to promote a product, presents a challenge for the FTC as it becomes an increasingly popular marketing tactic. Often, these influencers don’t make it clear that they’re being paid to promote a product — for example, the self-proclaimed “King of Snapchat” and rapper DJ Khaled promotes Ciroc vodka, but there’s no obvious evidence for the viewer that he’s being paid. Plus the nature of messaging apps presents a particular kind of challenge, Baker writes: “How are regulators supposed to regulate platforms with private, fleeting ads?”
Just three days after removing human editors, Facebook’s trending news section included a fake story about Megyn Kelly getting fired from Fox News (Washington Post)
On Friday, Facebook announced that it would no longer employ human editors for its trending news section; on Monday, Facebook’s trending news section included a fake news story claiming Megyn Kelly was fired from Fox News. The story about Kelly occupied the top spot on Facebook’s trending news section, a spot that supposed to include “automatically selected original news story with an excerpt pulled directly from the top article itself.” Even though the story was fake, Abby Ohlheiser writes, “one thing about this whole debacle is very believable, though: that the [Megyn Kelly] article was shared widely across Facebook,” showing flaws in Facebook’s trending news algorithm.
+ “What does it mean when [Facebook is] promoting blatantly false news and clickbait aggregation? How can legitimate news outlets operate in this environment when they are becoming increasingly reliant on Facebook? Do users even care that they’re being fed stories from sites of ill repute?” (Nieman Lab); Algorithms aren’t without bias, Christopher Groskopf writes, because human biases are inevitably written into the algorithm (Quartz)
+ Facebook says it’s working on ways to more accurately detect fake news now (Business Insider)
The post Need to Know: Aug. 30, 2016 appeared first on American Press Institute.
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