What is New Media?
And What are its Benefits for the Web?
New media is a marketing and communication tool that uses technology such as video, multimedia and the web to convey a message. This new and innovative form of communication enables anyone to express their ideas and opinions in an interactive way, by using a variety of digital media. Web videos, blogs, social networks, and pod casts are just some forms of new media that have been a successful part of marketing.
As new media is becoming more common many businesses, advertisers in particular, have found it a very valuable tool. New media ad spending has grown 34 percent over the last year, and it is expected that these ads will account for over half of all online display ads by the year 2009.
Display advertising, including broadband video, is among the fastest growing form of online advertising, expecting to account for $10.5 billion spent on ads this year.
With the increased opportunities involving new media, many advertisers are turning to this trend and finding it a powerful and essential marketing tool.
Benefits for Businesses
New media creates the opportunity for a business to be taken to a whole new level. Web video is a new way for businesses to communicate with customers in a more emotional environment. Combining the use of audio and visual effects on the web, can be a much more memorable experience for customers, and have much more of an impact.
Using online video advertising allows businesses to bypass the high costs of producing television commercials; it has be found that consumers are typically more likely to respond better to online video advertisements rather than image advertisements. Studies have shown that video ad click rates are far higher than image ads.
Technology which allows businesses to view what type of customers are purchasing their products, and viewing their videos can be very beneficial to a company. Many companies provide spaces for comments and customer feedback on their websites. Receiving this type of information from customers saves businesses a tremendous amount of time and money, which would otherwise be spent on researching customer’s wants, needs, and opinions.
Placing a video online also gives businesses the opportunity to increase their awareness through circulation of the video. Forty-two percent of web video viewers find videos online by either clicking on an email link or using a search engine to track it down.
By making a video available online, the amount of circulation it receives can end up driving a large amount of traffic to a company website, or store. Studies have found that after viewing an online video for a company, fourteen percent of viewers visit the company store and eight percent make an actual purchase.
Web videos are beneficial to a business because they are constantly available. Anyone with the access to a computer or wireless device can instantly have access to whatever they wish. Businesses are also able to change any details online almost instantaneously. Any updates or breaking news that a company wishes to discuss can be changed or added within seconds.
New media also benefits people on a personal level. Individuals wishing to sell themselves, their products or services can do so through the internet and new technology.
In times before the internet, gaining personal publicity for the average person was either highly expensive, or virtually impossible. Today anyone can place a video online at no cost.
Thousands of people express themselves daily using video blogs online. Individuals are able to share family videos and experiences with loved ones who may live far away, or even to complete strangers.
Everyday many ordinary people become well known due to their web videos or video blogs, posted on sites such as You Tube. Thanks to new media it is now possible for ordinary individuals to become instant internet celebrities.
Take Advantage Of Collaborative Communities And Sharing
Web 2.0 is a term used to describe the new generation of the World Wide Web. No longer simply a collaboration of several websites, the web is now thought of as an application that fits somewhere between a traditional web browser, and desktop applications.
Web 2.0 is a more interactive form of the web, made up of a collaboration of new technologies such as web syndications, podcasts, blogs, social networks, wikis, and RRS feeds, just to name a few.
A major benefit of all these applications, and the Web 2.0 as a whole, is the ability for users to communicate with one another and share their information online, in a simple and organized fashion. The Web 2.0 allows online experiences to be much more interactive than in the past.
Whereas the old generation of the web was about companies and ownership, the new generation of the web is about sharing and communities. The Web 2.0 is growing at a tremendous rate. With new applications and technologies available, it will not be long until the Web 2.0 completely changes the way we once viewed and used the web.