Last week, David Karp, the founder of the short form blogging platform Tumblr, talked about his monetization strategy for his website, which currently does not contain ads. According to the New York Times article, “Rather than monetizing clicks, he wants advertisers to view Tumblr as a place to promote particularly creative campaigns to an audience whose attention is worth paying for.” And he's not the only one thinking about the future business in the blogging — as the internet grows into an infinite abyss, it's only natural that the desire to make money off of it will continue.
According to an article by Tech Crunch, by 2020 the number of global internet users is expected to quadruple to 4 billion, with most of these users online with multiple devices. Users will be ditching the single computer usage, and gravitate even more towards smart phones, tablets, smart TVs, and beyond for everyday life. So, as the popularity of such technology continues to grow, how will all of these devices by monetized?
In another article, this one by Fast Company, it's reported that the generational grouping the Millennials are no longer looking to purchase tangible items, but are more enticed to invest in what some are referring to as ‘the cloud,' the disconnected digital de-corporeal space where current media models go. The article goes on to say that humanity is experiencing an evolution in consciousness in terms of what it means to own something, and by recognizing this change, we can use it to our advantages, especially as bloggers. Supply and demand will start to shift to the value in “doing.” What do we do with this? The “stuff” we want will eventually start to fall under one of these categories of “purpose”:
– Products that give empowerment to their users, or in other words, products that ‘do' something, where simplicity and clear communication about what the device does will be essential.
– Products that promote a ‘social conversation,' or things that they can ‘share' with a community. Selling these products will be more about promoting the community attached with the product.
– Products that ‘say something about you.' These items will highlight the ‘bigger impact' that is behind them.
Tech Crunch also talked tabout the future of the monetization of the digital world, and how eventually the way that devices are so split up (many people have a smart phone, a tablet, a laptop, etc.) will cause the biggest challenge to be how online advertising tracks behavior across all platforms — especially since there is currently no “uber-cookie,” as they put it, that can cross over the fragmented markets.
However, on the upside, no matter what which digital device you are using, the intent is always the same. For example, if you are using an app to find the nearest ice cream shop to your geo-location, it doesn't matter if you are using an iPad or an iPhone, the intent is the same.
So, how does this affect bloggers? In a nutshell, bloggers will eventually need to harness these tactics when selling themselves as a personal brand, or if they eventually end up selling their own product, which many do. Also, we should be taking into account the very many different digital devices our blogs can be viewed on when pitching it to companies who may want to pay for sponsored content or site banners.
What do you think about the future of the monetization of the internet?