In yesterday’s Business Week online and article titled Reader Engagement: The Next Level by John A. Byrne states:“The New York Times just revealed a secret project we’ve been working on for nearly two years: The Business Exchange. The new product, to officially debut on Sept. 3rd, brings our reader engagement initiative to a new level. It allows users to create their own business topics on our site. Our search engines will then crawl the web to capture every story and every blog post written on the topic. Readers also can post links to stories and blogs we miss—and also add their perspectives on all this news, analysis and opinion.”
“Our community ultimately decides what is on “the front page” of every topic. Whenever a user reads, saves, shares or adds a story to the topic, those actions help decide what content appears in a “Most Active” page. The benefit: the community acts as a “Citizen Editor” determining what’s most useful and most important to our readers. It’s a short cut to stay on top of the abundance of content in the world, and it’s our way of helping business professionals to stay on top of the game of business.”
Read the entire article here, it is worth it.
Is It Reader or Media Engagement?
In yesterdays post titled Is Value With Operators or Users? we stated “Technology is cheap and easy to find or build. The conversation of the many is where to find the gold. The new market of conversations comes from unconventional thinking about users and producers. The people who create the innovative value is the best source of value and partnership opportunities.”
“Now it seems everyone wants our conversations but who recognizes the users as the greatest value or the critical source of partnerships? Is Linkedin a better partner than the users?”
Business Week’s Business Exchange certainly demonstrates the adaptation of old media to new media. I’ve spent considerable time on their Business Exchange site and besides making user friendly changes the foundation has been laid for this to be very disruptive. Disruptive in what way?
Consider the following:
- In reality this is in direct competition to existing networks and social media aggregators.
- Business Exchange represents a shift and a social media draw to businesses yet to adopt all this social stuff as well as those already engaged.
- Business Week sponsors many on line communities. Will they pull other community users to their own site?
- Business Week has the audience, the pull and the muscle to leverage Business Exchange into the new paragon of old media switching to new media and for others to follow
- The media world is competitive. Expect others to try and catch up and try and run by Business Exchange
- Competition has a funny way of shaking thing out, stirring things up or both. The critical question is whose favor will Business Week seek, the users or the suppliers, the advertisers or the users? Is the media engaging or engagement of the users?
If you thought this space was moving fast previously, buckle up. Business Week’s announcement will stir lot of markets, conversations and competition. Who they listen to and follow will determine whether they stay ahead or get left behind by the next thing to appear in these crazy markets fueled by conversations. So Will Business Week be able to win the race for our attention? Do they have the Socialution?
What say you?