A lot & #BANNER1 & # is happening in the new media sector, be it online advertising, search marketing, mobile marketing or social networking. But companies are still working hard to figure out a perfect business model for generating revenue on these platforms.
Experts ranging from publishers to brand managers to creative directors gathered in New Delhi for a day long conference on 'Monetising Your New Media Platforms'. The conference was organised by media school FMCC and Cross Border Media.
The second session was a discussion on successful media strategies and the vision for distributing content on the web and other digital platforms. Pradeep Gupta, chairman, CyberMedia Group, pointed out that "a publisher should adopt a cross-section media strategy covering print, online, events, TV and mobile for effective monetisation".
Gupta announced that CyberMedia publications will be made available on mobile in the next two-three months. CyberMedia publishes magazines like 'PCQuest', 'Dataquest' and 'Living Digital' and runs the website, www.Ciol.com.
In the third session on using digital media for advertising, Mohit Dhar Jayal, managing director, Wieden + Kennedy, said, "If we build something phenomenal which has original content and better user interface, then it will sell." He emphasised the importance of building communities around the product.
Anisha Motwani, who was serving her notice period at General Motors (India) and is now senior vice-president, marketing, at Max New York Life, showcased how GM has used digital media for advertising. In a digital and print campaign to promote its vehicle, the Chevrolet SRV, a website, www.srvchillzone.com, was created to build a community of users and boost the number of test drives. The site got 4,709 clicks for test drives and the company sold 600 cars in just three months.
The need for localisation of content was also discussed and the panellists agreed that the role of digital media is going to change and that there will be a tremendous amount of localisation on the Internet in the future.