Based on the crumbling newspaper business, we can see many old-school media leaders simply don’t get the Information Age. Enter: Larry Kramer.
Larry is a lifelong media professional who started on the journalism beat and ultimately built and sold MarketWatch for $500 million. How’d he do it? Simple: he focused more on the future than the past. He listened to consumers and gave them what they wanted. And most importantly, he was willing to change.
After building MarketWatch, Larry was the first President of CBS Digital, a senior advisor to Polaris Investments, and he’s on the Board of many forward-thinking media companies including Discovery Communications (DISCA). With all this incredible experience and insight, Larry recently started teaching at Syracuse’s prestigious Newhouse School of Communications and finally found time to write a book every business person and media professional must read: C-Scape: Conquer the Forces Changing Business Today.
Here’s Your Cheat Sheet to C-Scape …
Every company must now become a media company in order to survive and thrive in the future of the Information Age.
Businesses will need to formulate strategies based on the following 4-prong framework for adapting to the new C-Scape:
1) Consumers choose what, how, and when they consume information. This has given consumers more power than ever in the relationship with content creators and information sources. Those who don’t respect this new relationship will perish.
2) Content becomes king. With the Internet able to directly bring the buyer to the seller, the need to have a better product, not just one that is distributed better, will become paramount. Those who had distribution advantages will struggle so long as they are averse to focusing on competing with direct distribution.
3) Curation cures information overload. Businesses will need to monitor and curate conversations about their brands in order to prevent major blunders.
4) Convergence revolutionizes every form of communication. New forms of storytelling will emerge as all forms of communication converge on a single platform for the first time. Companies need to learn these new ways of telling stories about their products and brands.
C-Scape is chalk full of excellent case studies and commentary. Larry offers plenty of practical ways to start winning in the C-Scape. Those who reflect on his visionary advise will have a strategic advantage over those who don’t. Wall St. Cheat Sheet is proof Larry is guiding some of the most successful new media companies on the web. If he’s not on your Board of Directors, a copy of C-Scape: Conquer the Forces Changing Business Today is the next best thing.