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Truth and Trust in the Web 3.0
2 years ago 0 comments
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Here comes a funny story. I recently spoke to Julien Smith and Chris Brogan, super-cool Social Media innovators and authors of the NYT bestseller "Trust Agents". During the interview, I asked them "What is a Truth Agent for you" - instead of asking "What is a Trust Agent". Major mistake! Was it really?   The reason for my fauxpas was that I was writing this blog post right here at the same time about truth in the Web 3.0. And my little glitch turned out to be pretty inspiring. Because trust and truth are not aliens to each other, but siblings in spirit. An important condition for the rise of the Web 3.0 - a web in that everyone becomes a media entrepreneur through user-generated business technologies - is in an increased effectiveness of Social Media connectivity. To suceed as a knowledge producer or creative author online, you need to get the right audience, and build a lasting bond between you, other content... more
Meaning, the Web 3.0, and the Semantic Web vs. User-generated business
2 years ago 0 comments
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When I discuss the Web 3.0 with friends or viewers, they often ask me: why is Sophotec taking on a topic that already seems being occupied by the term "Semantic Web" - a concept that seems to be competing with "User-generated media business"?First of all, there is a little overlap: the Semantic Web - a term I don't like at all because it lacks a clear definition and is not supported by any meaningful outline - somehoe connects everything in a smart way. User-generated business techchnologies have to improve the level of effectiveness in connecting the right people and the right content with each other.But second, and most importantly, I believe that all of us - authors and readers engaged in futurism, the web and innovation - need to become more meaningful when shaping and defining terms. Often, I get a cynical smile when I mention the Web 3.0. Too many people abuse powerful terms like this, or Social Media, to... more
Target group? Target mood!
2 years ago 0 comments
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Everyone talks about target groups. I did it hundreds of times with my clients when I worked in advertising. It was important. And it still is. But recently, while we executed a Social Media campaign, I realized something: knowing your target group is not sufficient any more. Think about facebook: everyone knows that facebook advertising has a terrible sales conversion. The same is true for MySpace, YouTube and many other social networks or sharing sites. The reason can hardly be found in the concept of target groups: these are the right people, targeting is more precise than in TV, and they are in general willing to buy your stuff. But then, why does Social Media advertising fail? We conducted a non-representative study and pondered about the results. And here is my take: I call it the target mood paradigm. If you target the right people, but in the wrong situation, they are the right people in the wrong mood. When... more
Social Media marketing, economic progress and the wisdom society
2 years ago 0 comments
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As you know, this blog is a place for the bigger picture. It is about the future of the web and building the foundations of a knowledge civilization. That’s what excites you and me. It is not about selling chocolate bars more effectively. Or is it?   Besides my personal background and excitement with Social Media Marketing in the context of strategic brand building campaigns, I believe in a higher meaning of Social Media Marketing. It originates from my discussions with the members of Sophotec’s Executive Science Network, especially with Karen Halpert of Mastercard and her “Big Marketing” approach. In this approach, we developed a concept in that Marketing is much more than selling stuff. It is actually to core of economic value creation: aligning supply to demand, and taking care companies do what people want. Other expressions for this basic principle are customer-centric leadership, outside-in... more
Win a Web 3.0 book!
2 years ago 0 comments
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In recent days, a series of friends and readers asked me two questions: 1) "Can I get a free copy of Web 3.0 - the book?" and 2) "How can I become a guest author at sophotec.com?"OK, first of all: the fastest and best way to get Web 3.0 - the book is to BUY it, because it provides incredible insights, visual models and inspiration for only $29. It is unique both in content and form. You will not find anything comparable anywhere. Second: you can always submit articles to jb@sophotec.com - if it's on strategy and supports our pursuit of progress in knowledge, the web and Social Media, I will be happy to publish it. But you are right - it would be nice to bring these two points together. So from now on, we will give away one book for free to the best article on the Web 3.0 that gets published on sophotec.com/blog. It will be awesome to get all your ideas and thoughts, and I am really excited about getting your mails!Here are the rules:... more
Copyrights in a value-driven Web 3.0
2 years ago 0 comments
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Recently, I spoke at BIL 2010 in Long Beach about the Web 3.0, and got some interesting questions from the audience. One of them was: “How do you deal with copyrights in the Web 3.0 and protect people who pour more energies into creating high value content from being pirated?” This question touches one of the most exciting aspects of a web in that everyone becomes a media entrepreneur. To better understand it, we first have to get a clearer picture of the copyright problem in general. This problem is based on a simple perception: if you have something valuable, and sell it, people can steal it. And then you cannot sell it anymore. With content, it’s even worse than with physical goods, because simply looking at something is enough to “steal” it. Technically, a copyright violation starts even if you allow too many people to watch your DVD. Based on this perception, the traditional media industry has... more
The user-generated media value formula
2 years ago 0 comments
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We have learned about the three key value drivers of online publishing in a previous blogpost. Based on these insights, it's pretty easy to derive a general formula of media value generation. The interesting thing about such a formula is that it allows us to predict the power and value potential of any given online publishing system by measuring it's performance on the different dimensions of the formula. It doesn't tell you what you have to do in terms of content design to maximize its value, so this is not necessarily a useful tool for the content creation process. See it as a bird's perspective on the Web 3.0, its technologies and value logics. A formula that allows us to calculate the performance and economic power of any publishing platform, and the web in general. So if we take the three value drivers and multiply them with each other, we get to the hourly wage of an author:   speed × traffic × profitability... more
4 success factors behind content monetization
2 years ago 0 comments
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Another question bloggers and online publishers ask me on a regular base is probably as widespread as the interest in earning money. How can you monetize content in the web? I know there are thousands of articles written about this topic, but since this is the official blog of Web 3.0 – user-generated media business, let me give at least a quick answer.   The monetization of content is actually nothing less than the monetization of your mindware. You are an expert with distinct knowledge, or an entertainer with distinct entertaining skills. That’s the source of value. It’s important to understand this fact, since my take on monetization is slightly broader than usual. Let’s assume you are a marketing specialist who has a new system to make brands big in the web. You can monetize this knowledge on 5 dimensions:   Sell your content Create lots of traffic and sell advertising Place products or... more
What is the market potential of user-generated content?
2 years ago 0 comments
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Maybe you think “that’s a weird question”. But when we talk about the Web 3.0 and user generated media business, both startups and Venture Capitalists will ask exactly this question: what is the real value potential for empowering everyone to earn money from creating content?There are many ways to approach this topic – most prominently, using the current size of the market or that of neighboring industries like the book market. If the US book market has a total turnover of, let’s say, $50 billion, we can start making assumptions about how much of this amount is generated online, and what the potential of a self-publishing author vs. a professionally published author is. I think this approach is wrong. Because the content industry, as of today, doesn’t really exist. Content today is created and processed in a manual, highly inefficient way. Media products are not part of a larger processing and... more
The Web 2.0 dilemma
2 years ago 0 comments
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Consider these numbers: of the 1.4 billion Internet users in 2008, approximately 250 million actively publish and share content on platforms like Facebook, YouTube, Flickr, Wordpress and many others.  Of these 250 million, around 30 million people are semi-professional or professional online authors, meaning they publish at least once a week. All these numbers are growing at a rate of approximately 20% per year.  And here comes the surprise: of all these active online publishers, only 250,000 make a living off publishing. That’s 0.1% of online publishers, and less than 1% of semi-professionals and professionals. In other words: in the Web 2.0, over 99% of mind and financial potential remains untapped. Ouch.    We are not talking about a hypothetical situation in a distant future, in which people start doing things that they currently aren’t thinking of, i.e. assuming that all of the 1.4... more