In this digital era, digital media is growing and changing very fast. Sometimes it can be hard to keep track of what is happening in the field. Some of the trends driving digital media future include:
Too much information
Lack of barriers to entry to social media and blogs ensures a lot of information is available. The already available information is devastating and likely to worsen in the future.
Winner takes it all
Too much supply of information such as articles and blogs and poor content discovery such as Google, Facebook, and emails has led to “winner takes all effect. “ This makes the main traffic go to the best content.
Good information is bound to become plenty and cost less over time. Though paywalls have become a solution to giant media sites, the solution is not durable.
Changing revenue models
In the near future, clever companies will have to integrate native advertisements in an ethical manner that is not invasive to the end-user experience. It should be noted that native advertisements, broad sponsorships, and sponsored content is the way forward.
Lean and mean
It is evident that old media charged too much for advertising. Modern media has to learn to be mean and lean for business continuity. Old media needs to change to remain relevant otherwise, tables will be turned by the new media.
Visuals cut through the clutter
Infographics, data visualization and videos, are some ways of sorting the mess of unnecessary information. Take advantage of the “winner takes all” condition to gain potential viewership as many people share this content type.
Digital media is the future of the business world and it is high time we embrace it if we have to remain relevant in the business world. Competitive advantage is likely to grow in the future once we embrace digital media.