Digital mediums, led by Social Media has today become the primary channel for customer reaction and communication, especially with businesses in the B2C space like in the Media and Entertainment industry. The Media and Entertainment industry is at the center of a heady mix of visual storytelling, understanding viewer reactions in real time, online celebrity image management and contextual advertisements which are targeted towards the profile of viewers in media and entertainment.
In an industry that is very dynamic and depends on viewership, positive virality of news, events and celebrities, most organisations are looking for partners and capabilities that have unique and exciting Digital Monetization capabilities.
In such a scenario a Digital Command Center is required that provides real time unique aspects for M&E industry with objectives such as:
1. A goal and revenue attuned Digital Command Centre strategy
2. Digital & Social Media data Monetization via Analytics around shows, advertisers and celebrities
3. Automated Platform + services for going from strategy to execution
4. Digital Media Listening, Engagement (response), Campaign and Analytics capabilities in near-real time
There are both Strategic and Tactical applications of such live viewer, sponsor and celebrity engagement and data that can drive monetization for large Media and Broadcasting corporation around earned, owned and paid digital media entities. The Digital Command Centre can be powered by platforms for automated collection, analytics and visualization of millions of digital media from various sources such as Social, Web, Chat, email along-with specialized Digital Media services that include agents and analysts. Workflows traversing digital platforms and viewer journeys,provide seamless access across platforms and key roles in the digital command centre. The top layer is decisioning and engagement that drives brand, revenue and viewership growth. This effective combination can deliver a power packed capability across multiple lines of businesses such as Sports, News, TV, Movies, Advertisments et all; providing the capability to monitor and monetize live reaction to the shows, anchors, events, celebrity endorsements and social media activity across digital networks.
What Digital Media Command Cente do for the M&E industry :
1. Listening to the Social Media buzz across not only all key Social networks like Facebook, Twitter, Tumblr, GooglePlus, but also across blogs, discussion forums and digital media publishers.
2. In near real time capture viewers reactions to news, shows, advertisements, anchors across all digital medium.
3. Provides capability to respond and engage on multiple Social networks with the viewer’s thus increasing the brand/show/Ad buzz.
4. Conduct digital campaigns across owned properties, ad networks, sharing multi-media such as videos, pictures and text.
5. Analytics on digital data in terms of buzz around the show, popularity, competitive analytics etc.
6. Digital Sketch: Fan/ Audience Persona creation from digital data, Social Media likes, shares, conversations, trends, buzz, demographics, preferences etc.
7. Contextual Digital Ad: Targeting of viewers based on Digital Sketch
8. Social Rating Points-SRP that augment show TRPs based on positive, negative buzz by viewers on social media
9. Top Movie/Ad/ Show/Anchors
10. Leveraging Second Screen (Social Media) phenomenon that engage Audience using hashtags/ social contexts – encourage to participate in dialogue
11. Competitor Analytics- monitoring reaction/ participation in competitor shows, advertisements and campaigns
While some facets of the above have been brought in place by organisations, especially w.r.t. monitoring and listening; the push on monetization of the digital data has still a lot of untapped potential. Tech Mahindra’s Digital innovation teams, drive such monetization programs for large Media & Entertainment divisions globally. Armed with subject matter expertise, capability in strategy, platforms and cutting edge digital components; data is transformed not only to insights but revenue for Media & Entertainment organisations.