Paul X. McCarthy Posts

Social media and content

The most successful organizations see the entire map of functional links to understand the context within which each decision is made. They don’t look elsewhere for answers, but find their own. This is a fundamental principle of strategy. Strategic success doesn’t just benefit from being different from others. It requires it. If you aren’t different in business, you’ll die. 

The Content Trap by Bharat Anand

 

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For a while now it has been said that content is the oil of twenty-first century. Many are under the ( false) assumption that being visible on various social media platforms will make their businesses/initiatives flourish.  Well it is not true. Many assume ( again false) that strategising and using digital tools is easily achieved whereas it is equally if not tougher than working in the real world. The Internet gives the false impression that because it is digital, work is invisibilised and there is little tangible result. The truth is the parallel world which exists in cyberspace is a complicated and intricate web of connections. Even after making allowances for the existence of bots and other automated tools on the web the fact is a legitimate user is easily profiled and they are rapidly perceived as influencers.

Recently published books by Bharat Anand’s The Content Trap , Venkat Venkatraman’s The Digital Matrix , Lindsay Herbert’s Digital Transformation and a slightly older but seminal theory, “Online Gravity“, proposed by Paul X. McCarthy ( 2015) in his book of the same name are powerful for the way in which they understand and lay bare the “rules” governing online digital strategies.

First and foremost fact that comes through in analysis of the digital space is that it is constantly evolving. Having said that the digital medium can be a powerful tool to use, to amplify one’s work/business, if done methodically and strategically. Blasting information out into cyberspace is ineffective. The idea is to remain original and fresh in one’s approach at making information available and by extension the business one is engaged in while retaining a distinct identity and being aware of the diffrentiation factor between you and your competititors. It is imperative to have a network of connections that inevitably help in disseminating information further. At the same time be clear that you know your business thoroughly, the economics that govern it and who is your target audience/customer. It is only then that the digital space will benefit you. All the while remembering that it is still a hybrid market which means there are fixed costs that need to be taken into account; so it would be wise to know your customer. Otherwise wading into cyberspace, offloading content about your work, assuming it will transform one’s business will be nothing short of a trap.

Despite the existence of these conveniences, digital tools remain just that — tools! Unless you curate your content regularly; adopt new strategies, adapt them for your requirement and help transform your business; always remember that the real and digital worlds co-exist parallelly but also to a large degree mirror each other. The human brain discerns plenty even though we may not like to give it its due credit. So despite all its sophistication the digital world is an ecosystem where users  exhibit a herd mentality by trusting influencers and amplifying the content by disseminating the information through their networks. The digital matrix mantra is : Product + service +platform + solution. The seven laws of online gravity reiterate this while stressing the significance of it being “naturally global”, applicable to “intangible goods” whilst embracing the “big winners” and analysing “data”.

The assumption that digital is disruptive happens while discussing examples such as collapse of Blockbuster by Netflix and its recommendation algorithms, the launch of Amazon’s Kindle and ebook pricing in USA, the success of musical streaming subscription service – Spotify and turnaround of the fortunes of print-media firm Schibsted,Oslo. The truth is the two parallel universes of reality and digital are not mutually exclusive instead are in a symbiotic relationship. Hence it is crucial to collaborate / develop partnerships / expand and strengthen networks digitally and in real life too as this helps in overcoming the proficiency gap that may occur in businesses which are trying to scale up or innovate.

These bunch of books are truly stupendous publications of 2017 and need to be read over and over again, shared and ideas discussed for begetting more innovations.

11 October 2017 

 

Literati – “The library as social experience” ( 16 August 2015)

jaya_bhattacharji-300x300My monthly column, Literati, in the Hindu Literary Review was published online ( 15 August 2015) and will be in print ( 16 August 2015). Here is the url http://www.thehindu.com/books/literary-review/jaya-bhattacharji-rose-on-the-relevance-of-libraries-today/article7539673.ece#. I am also c&p the text below. 

Buying books the traditional way is a cherished subjective experience, heavily dependent on the curating abilities of the book buyer.

My five-year-old daughter asked me, “Why can’t libraries be like bookshops? If we like a book, why must we return it to the library? Why can we not buy and keep it?” I was stumped. It was a perceptive observation.

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“You either see it or you don’t” was an eccentric American Dennis Severs’ mantra,who converted his Georgian home in London into a time capsule with pieces collected from the 17th century till Edwardian times. Brian Selznick’s absolutely ‘scrumdiddlyumptious’ forthcoming book, The Marvels, is heavily inspired by Dennis Severs’ imaginative lifestyle. To my mind, this mantra aptly marks the rapid disappearance of brick-and-mortar bookstores and at the same time provides a possible solution for their survival.

In Delhi, two iconic bookshops — Fact & Fiction and Galgotia — are closing. There are many factors responsible globally for closure of bookstores, such as rising rents, fewer customers and an increasing use of e-readers like Kindle, iPads and smartphones. Buying books the traditional way is a cherished subjective experience, heavily dependent on the curating abilities of the book buyer. Obviously, a regular customer is wistful at the announcement of their favourite bookstore closing. On the other hand, online retailers have to innovate, evolve and work constantly at providing customer satisfaction without ever knowing who is buying from their portal.

For most readers, it is like being in a dream spell. Having read about a book, many readers want instant gratification and engage in impulsive buying, usually possible only with online retail. It is a human behaviour that has evolved with access to the Internet 24×7 for more than a generation.

Recently, I read a bunch of absolutely delightful titles from the TED Books that take off from where TED talks leave off, such as Pico Iyer’s The Art of Stillness, Chip Kidd’s Judge This and Chimamanda Ngozi Adichie’s We Should all be Feminists. I also read a devastatingly moving novel, The Blue between Sky and Water, by Palestinian writer Susan Abulhawa; a delightful anthology, The Pleasure of Reading,edited by Antonia Fraser; and an excellent collection of commentaries, Nehru’s India, edited by Nayantara Sahgal. War novel Escape from Baghdad! by Bangladeshi Saad Hossain and The Word at War made it to the list. When I discuss these books animatedly with friends, many automatically order these online. This change in human behaviour has affected the lifeline of bookstores.

In a possible model for a bookstore of the future, non-profit Pioneer Works in Red Hook, U.S., opened a ‘remarkably small’ bookstore. It stocks new and used books, local zines, lit mags, children’s books conveniently located at their height and a modest wall spotlighting a rotating small press. Also, the shop clerk assures customers that if they do not find the book title they are looking for, he will order it for them.

Then there is Trilogy in Mumbai, founded by Meethil Momaya and Ahalya Naidu in December 2014. It houses a library and a bookstore; though they are under the same roof they do not share shelf space. Titles are available in Hindi, English and Marathi. The library functions like any old-school library and the bookstore works like (almost) any other bookstore in the world. The very idea of having a bookstore and a library together in the same place without a wall dividing the two was to allow members the freedom to read books without owning them (library) and when they love a book they would like to own, they always have the option of buying it (bookstore). There is a symbiotic relationship between the two spaces. Borrowers very often want to buy the book they have either issued or find in the library. If it is available in the bookstore they can buy it immediately.

There is also the model that legislator Dr. T.M. Thomas Isaac has suggested in Kerala wherein libraries turn into centres for students to gather and study together in the evenings.

These examples illustrate a recommendation made at the Indian Public Libraries Conference 2015 held on March 17-19, 2015 in New Delhi. Recommendation on refurbishment of public libraries, point 8f, states, “Facilities in public libraries should include, ‘multi-purpose social space’ for use by the community extending services beyond the provision of reading facilities.”

Paul X. McCarthy, in Online Gravity: The Unseen Force Driving the Way You Live, Earn, and Learn, illustrates how a new set of economic rules, very different from those in the physical world, are governing businesses. According to him, one of the fundamental consequences of gravity-giant formation is the way in which it is influencing the shape of products, companies and ultimately the whole economy online. But I wonder if the cross-filtering and influencing of experiences across mediums has not already begun? What is the future of libraries and bookstores if they don’t evolve by catering to community demands and expectations? Libraries and bookstores die because they fail to fulfil this. Reading may be a personal experience, but libraries and bookstores are social experiences. Somewhere the customised experiences of individuals increasingly created by blending digital and real services have begun to spill over into the physical world.

15 August 2015

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