WhatsTheBuzzAbout.com

To Pay or Not to Pay?

With the beginning of the new “calendar year” many individuals, organizations, and corporations are evaluating whether the media services and providers they use are really providing them with value. Their evaluations not only include the consideration of monetary requirements but also the amount of time spent in interacting, contributing, or responding as a result. New media jargon includes terms such as “pay it forward” which does not connote a dollar exchange but the investment of time. It also includes discussions of “relationship capital” or the value placed on relationships which may have been established or enhanced through media interaction and the value that an individual brings because of certain relationships and relationship management.

Some will find that the payment of currency has more “value” than the investment of time. Others subscribe to the concept of “time is money.” Regardless, the currency that is important to you or to the organization or business is the criteria upon which the media is evaluated.  This currency could be something as nebulous, as the decision to participate in a particular media in a particular fashion regardless of whether a pure “cost benefit analysis” or “time benefit analysis” would yield a positive result. It also would include media advertising decisions.

Examples of determinations include everything from the corporate commitment to changes in design found on Google’s home page each day, to an individual’s decision to have a presence in both Facebook and MySpace. A corporate determination may include the level of the individual assigned to manage a corporation’s blog. It will include corporate advertising decisions, such as being a significant sponsor in various electronic media or putting a streamer on a smaller website. It can include the decision to standardize an individual’s profile to the extent possible in all social networks to a blogger’s decision to provide an RSS feed for his or her blog. It includes the decision to be active in a group or to just step back and watch the group for trends and opportunities. It may include a concerted effort of a corporation or individual to assist another individual or corporation without an expectation of an immediate reward.

As we commence the review of our financial and time participation in each activity, we need to think of both in terms of the future and not of the immediate.  Our evaluations should consider the relationships we have with our colleagues, customers, vendors, etc. and the extent to which we want to continue to nurture and sustain those relationships and create new relationships.

 Media is merging, synergies are growing every day, and people seek to ensure the connections once made are not lost in the electronic maze.  We need to use our best judgment in committing our financial and time resources.  The good news is that media builds in flexibility and we can adjust our commitment going forward.

What is your buzz about?