Rabt took to the road last week for SXSW in Austin, story Texas for a second year in a row. There was buzz surrounding Big Data, advice A.I., Robots, and the Internet of Things. But one of the central topics surrounding SXSW Interactive was the changing landscape for media companies in 2015.
Content publishers like Vice Media, Thrillist, and Blendle are changing journalism and digital media with their unique business models and ever-growing strategy towards driving user retention. Alexander Klopping, Founder of Blendle, mentioned that media companies in Europe have been following the footsteps of traditional publishers like The New York Times for far too long, and are starting to suffer because of it. Today, there is a growing shift from an old school approach of monthly subscriptions and heavy advertisements towards dynamic strategies focusing on acquiring new users through rich content spread across social media, retaining visitors by offering more personalized user experiences, and incorporating video into their strategy to increase user loyalty.
The sea of content out there is only growing larger by the day. Its easier more than ever for someone to create their own website, publish a news story on a major platform, and film oneself without a five person camera crew. Curious as to how? Purchase a GoPro or look at your smartphone for the answer. Media companies have a lot to compete with out there. So how do they differentiate? How do they keep at pace with such a changing landscape?
One of the large beliefs by content publishers is to offer a more dynamic personalized user experience for each user across platforms. We are not talking about those “recommended articles” that circulate you to 3rd party sites, or methods of simply shuffling internal content at the bottom of a landing page. We are talking about one-to-one personalized user experiences, where everyone is presented there own content relative to their liking. The concept of personalization is an easy thing to grasp, but it’s a very difficult thing to do right.
Players who lead the game in recommending more relevant content have seen growth in their businesses for years now, and at the same time notice a flow of new users while retaining their more loyal customers for longer. Amazon was first to figure this out through its retail recommendations, and Netflix followed with its recommendation algorithms – surrounding the tagging of video content.
Amazon’s approach was thought as revolutionary in e-commerce 4/5 years ago. But now, virtually everyone in e-commerce has some sort of recommendation engine running behind the scenes. Digital properties discovered quickly that if they didn’t offer a more personal experience for shoppers, they would lose out. But in the case of digital media, you cannot apply the same profiling algorithms to content. By saying that you are a male, living in Los Angeles, who likes sports and fast cars you might like XYZ – doesn’t work for content. We all have different content needs, and it changes in real time.
That’s why at Rabt we are taking personalization many steps further when it comes to content. Our focus lies on driving one-to-one personalized experiences by using sophisticated science and cutting edge technology. Our solution is not only seamless to implement, but also works across all content types. That’s right – video, articles, pictures, and beyond. Its our belief that monitoring user behavior across a large stream of content and comparing various metrics in real time to a large data pool of users, can help drive more relative recommendations. Through the use of machine learning techniques, big data, and a touch of A.I. we are able to predict user behavior towards content at a high degree of accuracy. One-to-one personalization is extremely beneficial for content publishers, and it’s our belief that those media companies who are able to adapt faster can survive for longer.