The Benioffs join Bezos, Jobs, and others who’ve turned to publishing to cement their legacies. But a hands off approach isn’t what journalism needs right now.
The Los Angeles Times was the first newspaper I ever read – I even attended a grammar school named for its founding family (the Chandlers). Later in life I worked at the Times for a summer – and found even back then, the great brand had begun to lose its way.
I began reading The Atlantic as a high schooler in the early 1980s, and in college I dreamt of writing long form narratives for its editors. In graduate school, I even started a publication modeled on The Atlantic‘s brand – I called it The Pacific. My big idea: The west coast was a huge story in desperate need of high-quality narrative journalism. (Yes, this was before Wired.)
The past week or so has seen a surge in commentary on the role of corporations in society, a theme familiar to readers of this site. While it might be convenient to peg the trend to Senator Elizabeth Warren’s newly minted Accountable Capitalism Act (more on that in a second), I think it’s more likely that – finally – our collective will is turning to our most logical and obvious instrument of social change, namely, the instrument of business.
We humans like to organize ourselves into social units. They range from the informal (pickup basketball games) to the elaborately structured (Senate hearings). Our ability to harness collective will is unsurpassed in the animal kingdom, it’s one of our key evolutionary adaptations, driving the success of our species across the globe.
I first moved to the Bay area in 1983. I graduated from high school, spent my summer as an exchange student/day laborer in England (long story), then began studies at Berkeley, where I had a Navy scholarship (another long story).
Social Media Amplification unites social with paid media. It’s crazy that we haven’t done this already.
For all its promise, digital marketing remains an unfortunately siloed business. Nearly every brand invests in both social media — teams of people who agonize about what content to place and promote on Facebook, Twitter, and other platforms — as well as paid media — the ads you see across the “rest of the web.”
And here’s the crazy part: In most marketing departments, the teams who run social rarely, if ever work, closely with the teams who create traditional paid media. If that sounds crazy, well, you’re right. It is.
Although the metrics can be quite different, the goals of these tactics are essentially the same: Creating awareness and conversions against targeted audiences, building relationships with current and new customers, and driving engagement for the brand overall. Put another way, social media and paid media teams have the same goal: engaging customers and driving interest in purchase.
Right now the European Union is a lot more serious than the U.S. about protecting users’ privacy. Signaling that it means business, the union has fined Facebook 110 million euros for providing inaccurate information to EU regulators about its acquisition of WhatsApp in 2014 (Reuters).
At the time, Facebook had said that it couldn’t match individual users’ Facebook accounts with their accounts on WhatsApp. But last year the social network did just that. Facebook says it made an unintentional error in its filings. The root of the issue lies in Facebook’s effort to reduce duplicate accounts, which skew the total-user numbers that its market valuation depends on (Quartz).
If brands and advertising have become less useful as tools to both companies and consumers, how can businesses grow?
Five factors are changing the types of products that succeed today and how they engage with their audiences.
Marketing has become an arms race that’s led to hollow value and stifled innovation. Bad products with lots of media muscle can steamroll good ones with less resources. The competition of overcrowded categories creates brands trying to outspend each other with ads that grow increasingly detached from reality.