Many traditional media companies have embraced social media services like Twitter and Facebook as tools for publishing and reporting news. But most of them seem to have a hard time accepting the social part of these tools, as they are afraid of losing control of what is reported.
According to ComScore, social media now reaches over 82% of the worlds online population. Nearly 1 out of every 5 minutes spent online is used to engage on Facebook, tweet on Twitter, connect on LinkedIn along with other social media activities.
Prisa Group as many media companies have great challenges to face, they have to embrace digital change in order to compete. This change has to go in line with business objectives (e.g. Audience growth and engagement, digital revenue growth and explore multidevice content).
Key channels for media companies:
- Facebook, is where the audience is. Social media is used as source of news
- Smart phone penetration is growing, news are being accessed by mobile and tablets
Knowing these characteristics, I want to prepare a product proposition trying to meet business and audience objectives.
BECO, social reader
Keep up to date with what’s happening in the world.
It’s easy. It’s fun. It’s social.
BECO: What is it?
- It is a personalised news service that sits on Facebook and delivers the latest information on reader interests from Prisa and partner sites
It learns from user engagement, what s/he clicks on, comments, shares, topics s/he likes and sources s/he values
BECO: Business objectives check
- It allows Prisa and its partners to share its content on Facebook; reach and engage with a larger socially powered audience
- It increases traffic to Prisa and partners, having a direct impact in advertising space revenue
- It is accessible on multiple devices
BECO: Business model
- It uses space within the app to advertise, it doesn’t violate Facebook’s policy
- It aggregates digital content to Facebook
- It allows to grow the fan base
Note: BECO is not an actual product, this is a presentation to take as a model.