Times have changed – move or be removed

Times have changed – move or be removed

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I’ve been obsessed now with the www – (weird whacky ways) consumer online movement for fourteen years. Prior to that, we had black and white television, fresh daily milk deliveries in glass bottles, one telephone per household, wash tub wringers, beta videos and 45 rpm records. We also paid for a newspaper (unless you stole it) and let’s not forget that when you dialled 013 (directories) you were charged for the experience. Today, these, enquiries are made online – free of charge.

CEO’s and business owners are currently struggling to understand the latest online strategies (and survive) and why, their respective businesses are looking pear-shaped. It is happening in television advertising, print media and radio commercials – online advertising has arrived and is taking a significant market share. In fact, it’s booming.

Tim Mooney Photography

www.timmooneyphotography.com

Just look at the profit reporting announcements this week where Fairfax Media posted a net full – year loss of $380 million announcing “unprecedented” declines in advertising revenues. The Seven Network posted a 91.2 per cent decline in full year profit where large losses were proportioned to their ownership of West Australian Newspapers (again citing declines in the overall advertising market). News Corp really brought home the bacon by posting a $US3.4 billion ($4.03 billion) loss citing a downturn in advertising markets and impairment charges. Newspaper advertising strategies require a complete overhaul and it is obvious that the present methodology is becoming irrelevant and too expensive, compared to the alternatives.

Just thirteen houses in Mosman were advertised in last Saturday’s edition of Domain. This prompted me to count just how many houses were advertised on Domain in total. Just 86 – the lowest number in memory. Not at all helpful, was the fact that we sold $17,385,000 worth of houses since last week’s edition of Virtual Realty News. No longer available – 23 Upper Avenue Road, 10 Middle Head Road, 15A Clanalpine Avenue, Sirius Cove, 5 Wonga Road (four sales by electronic advertising campaigns). A clue! $929,190,221 in subscriber sales in the Mosman – Cremorne and Neutral Bay market. As well as the best our online position (database) we have the best negotiators!

It should be noted that our property markets are no longer predictable with the upcoming Spring/Summer market appearing (at this point) to being very tightly held. Open house inspections over before lunch (who would have predicted that?) – changing times.

All arrows keep pointing to Google. It commands ninety per cent of online search enquiries in Australia and it is a no-brainer for any business not to be dominant on the major information highway. Competing search engine Bing (less than ten per cent of searches) has just announced its user-submitted homepage competition, although I remain unconvinced that this photo will significantly increase traffic – it is not the picture but the the content that attracts eyeballs!

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News Limited’s arrows apparently now point to paid online readership when the Los Angeles Times reported “Chief Digital officer Jonathan Miller has positioned News Corp, as a logical leader in the effort to start collecting fees from online readers.” As quick as a flash (and unprecedented – I believe) Fairfax boss Brian McCarthy announced that he was “happy to talk” to rival News Corp about its plan to charge readers who access online news content. Charge for online? I wonder if newspapers will then be free – what an about face. The Internet has simply matured and users have embraced this change in culture. It is now widely acknowledged that the online available resources in modern times are rolling out much smarter user experiences and applications.

Late in 2006 – Google (the monster) acquired YouTube for $US1.76 billion which just so happens to be the Internet’s top video channel. Now YouTube will start paying videographers for their content given they are now accepting page advertisers.

Twitter co-founder Biz Stone also announced that he too would introduce some type of paid content for commercial customers. Richardson & Wrench Mosman & Neutral Bay (RWM) is the only Mosman agency (that I am aware of) using Twitter as Biz identified for his charging model “But we we’ve identified a selection of things that businesses say are helping to make them more profit.” Nothing wrong with a pay to stay model as long as you understand it – I still believe Google will somehow mash YouTube into its real estate model.

So let’s move to the following quote that I read online this week “Web Squared: Web 2.0 Five Years On” (a great read – should you be moving. Please download and read) “Hence our theme for this year: Web Squared. 1990 -2004 was the match being struck; 2005-2009 was the fuse; and 2010 will be the explosion.” In summation the report tells us “If we are going to solve the world’s most pressing problems, we must put the power of the Web to work, its technologies, its business models, and perhaps most importantly, its philosophies of openness, collective intelligence, and transparency. And to do that, we must take the Web to another level. We can’t afford incremental evolution anymore.”

“It’s time for the Web to engage the real world. Web meets World – that’s Web-Squared.”

Every time you open a link, Google rewards that business with a vote that propels it in their rankings for that respective keyword search – the more votes, the higher your business ranking which explains why consumer communication (newsletters) keeps getting voted into powerful online positions on the Google Monster.

Since the unexpected Global Financial Crisis arrived here in Australia our business model has exceeded our expectations (all things considered) based on the results we have delivered in our marketplace. In my opinion, RWM could not be better prepared for the predicted “explosion” next year. Web Squared said “But 2009 marks a pivot point in the history of the Web. It’s time to leverage the true power of the platform we’ve built. The Web is no longer an industry unto itself – the Web is now the world.”

Yes – times change – although not as fast as NSW Labor changes Premiers. Embarrassing, and highlights the gross incompetence at Fort Crumble. Woolworths wants a bigger tool box to nail consumers and speculation that our property market is set for another boom. June quarter GDP figures are released next week – negative or positive? I predict positive although a negative result would put an interesting spin on the micro/macro analogies of economic recovery.

Once www stood for weird whacky ways – now I suggest that www should stand for ‘what (a) wonderful world’. I should register that and remember where you read it first. See you next week and our online business shall forever remain free – another clue.

Cheers ^__^

For this week’s recorded Mosman real estate, Cremorne real estate, Neutral Bay real estate and Cammeray real estate sales www.rwm.com.au/news/

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