Two things, this past week, caught my eye. The first, was a great article from The Economist, titled, “The message is the medium.” Take the time to read the article, in its entirety. It’s definitely worth your time. But, since we all now, everyone seems to be TL;DR, these days, this is the one graphic you need to remember:
After years of hockey stick-like growth, we’re seeing SMS, flattening, and ultimately, declining. This doesn’t mean that messaging is declining. WhatsApp, iMessage, Facebook Messenger…and yes, even snapchat, are exploding in growth and eating SMS for breakfast.
The 2nd thing that caught my eye was this article from AdWeek, that outlined YouTube “star”, Michelle Phan’s plans to launch her own content/influencer network, called Icon. Michelle’s growth came from YouTube. Without YouTube, you could very well argue, many of us wouldn’t even know who Michelle Phan, was. But, to be loyal, in this space, is to miss out…or, as Michelle, stated:
“I’m platform agnostic,” Phan said. “I’ve been platform agnostic ever since I went online. I’m not saying I’m jumping ship (from YouTube). Platforms—they come and go, but storytelling is forever.”
Well, first, she states the obvious, that she’s not leaving YouTube. Difficult to leave the golden goose, eh? But, what’s really important is what she says about platforms. Platforms, indeed come and go. 20 years ago, it was AOL. 15 years ago, you had things like GeoCities. Nearly 10 years ago, Newscorp, purchased MySpace for $580M…only to be sold 5 years later for…$35M.
Strategies can’t be platform dependent. Building your strategy on top of a platform is like building a house on quicksand. It just doesn’t work. Don’t take my word for it, ask Zynga or DataSift. This isn’t to say that a platform shouldn’t be part of your strategy. For example, your consumer connection strategy, might indicate a need to understand, “Hopes, Wishes and Dreams.” That might mean, Pinterest, is a critical part of bringing that strategy to fruition. But, while you’re riding the Pinterest wave, you need to be keeping an eye out for the next wave, and more importantly, the right moment to move on to the next wave.
As exciting and initially lucrative as it can be to invest in a specific platform, your strategy, needs to take into account an understanding of your business, your customer and the macro-level environment. As, Brodie, told Rene in Mallrats, “Breakfasts come and go, Rene, but Hartford, “the Whale,” they only beat Vancouver once, maybe twice in a lifetime.” Today, platforms, come and go. And instead of Hartford (the underdog) succeeding only once, maybe twice in a lifetime, it’s more likely that the underdog, we weren’t paying attention to, becomes the leader. Platforms are quicksand. Be careful where you step.