How is the internet shaping how media and communications companies operate?
Media and entertainment companies
The Internet of Things is still very much a baby in terms of development, but the media industry has already begun constructing digital building blocks to make it a reality. The giants of publishing and broadcasting have already begun transferring to digital businesses strategies. They have harnessed appropriate IT infrastructures and networks to enable high-speed transmission, virtual reality, new formats such as 4-D and 4-K ultra HD, and multichannel delivery.
The majority of media and entertainment content today is consumed on devices such as mobile phones and iPads, and the number of industry related IoT connections is rising. American broadband and telecommunications company, Verizon Communications, report ‘State of the Market: The Internet of Things 2015’, revealed that internet connections on its network in relation to media and entertainment has increased by 120%.
Research conducted in 2015 by Tata Consultancy Services surveyed business executive worldwide. Results revealed that while the average per-company global spend on IoT by media companies was staggering. It is predicted to increase by 54% over the next 3 years, skyrocketing to $72.6 million in 2018, from a spend of $47.2 million in 2015. Furthermore, as a percentage of average global company revenue, spending was 0.57%, second only to the hospitality, travel and transportation industry.
The same study conducted by TCS also highlighted that activity in the media industry is mostly consumed via apps on smart mobiles, tablets, and other tech devices. More than 6 in 10 of the global media executives polled stated that they monitored their own customer information and data through mobile apps.
In the future, all types of media outlets will benefit from the IoT; publishers and broadcasters are just ahead of the game in 2016. Many are already collating various forms of data including location, behavioural and demographic to name a few, from a plethora of different devices and systems. All this unique data us then merged to create a detailed consumer profile which delivers personalised content instantly over multiple screens.
For the likes of BT and TalkTalk, the web has made some aspects of business easier for both customer and company. However, communication can sometimes be more of a challenge. Despite emails being a quick and easy form of outreach for customers, the lack of face to face engagement can create hindrances. As a solution, many companies take the time to consider the different areas of internet communication to ensure customers receive exemplary service.
The majority of businesses that run all or part of their business online have a dedicated email address for customers to use, with many departments having their own specific one to allow for messages to be delivered to the most appropriate point of contact. It is a question of what type of email to have. Online providers such as Google and Yahoo offer free email accounts, but these accounts can often be spam-heavy and often looks unprofessional. Therefore, it is best for companies to invest in a business email provider that offers filters and security.
The faceless quality of emails and, online business in general, means that customers cannot receive the face-to-face engagement that even a person on the end of a telephone call can provide. Many businesses that function largely online should aim to add a personal touch and make the communication between the company and the customer as natural and seamless as possible. Many companies have adopted this, by harnessing instant messaging services for customers to have online discussions with company employees. Another popular platform are forums, where customers can discuss issues with one another or offer tips and leave reviews on the company.
Aside from emails and customer communication services, having strong online support options is another avenue for companies to consider. Companies should make it immediately obvious to customers that that they take concerns seriously. Posting guidelines for customers about company policies regarding the answering of customer queries helps indicate to customers that the company values their communication. Additionally, many companies opt to have an FAQ page linking from the main page of the website.
Read more here about our Network in the Sky for media and events businesses.