How Social Media is Changing the NFL

This week I have chosen to write on a current and future trend in the entertainment business. We all know that the NFL makes up a good portion of the entertainment industry in the United States. This week’s topic covers How Social Media is Changing the NFL.  

Mashable.com’s, Jennifer Van Grove, takes a look at how social media is altering the NFL. She says that the sport has undergone a radical change in the past two years because of social media. All 32 teams including the NFL itself use social media as a platform.

The manager of Internet Services for the San Diego Chargers says he wakes up everyday to check the pulse of the fans, players and organizations on Twitter. Discussions on Twitter turn into discussions on ESPN or Fox Sports. The trends are coming from fans and players and are starting more conversation pieces.

“The NFL recently signed an agreement with brand marketing and management company Buddy Media to give all 32 teams access to better tools for making their Facebook campaigns more successful.” This is making it so that every time has buzz on every social media outlet.

The article explains that most players have a social media account for personal branding. Before most teams advised the players to not participate, but now they are encouraged as long as they do not share confidential information.

“…if a team-related story pops on Twitter, the organization feels compelled to address it within five to ten minutes, simply because of how fast information travels.” This is true, social media cause news and gossip to travel ten times fast then it used to.

Social media outlets also create more a fan base for teams and causing more camaraderie. Followers can know everything from what the player had for breakfast to who got slammed at practice. Social media is quite addictive and this case provides the fan with all around coverage.

Everyone has agreed that social media will only keep growing and playing a crucial role in everyone involved in the NFL’s lives.

Not only can we take this example of social media involvement with the NFL and see the current trend, but you can also use this on any big industry. We also see this in the entertainment industry or educational industry. Social media has only brushed the surface of its potential. In the future, social media will be the means of every news piece and every personal conversation.

http://mashable.com/2011/08/20/nfl-social-media/

Alternative Funding Sources

This week we are looking at other ways to fund a business. I have decided to take an in depth look at the EDA or the U.S. Economic Development Administration. EDA is an agency inside the U.S. Department of Commerce that associates with distrait neighborhoods all over the United States to promote job establishment, partnership and origination. EDA support is obtainable to country and city regions of the Nation suffering extreme joblessness, little revenue, or additional harsh financial suffering.

The U.S. Department of Commerce provides several different investment programs, such as:

Public Works and Economic Development:

-They support the upgrade and expansion of crucial communal facilities or infrastructures.

Economic Adjustment Assistance:

-Delivers a extensive series of public works, technical, and planning and infrastructure support in areas suffering unfavorable economic transformations.

Research and National Technical Assistance:

- Funds exploration of current economic expansion practices, as well as material distribution struggles to nationwide watchers.

Local Technical Assistance:

-Attentive support offered to communal and public heads to aid in economic progress decision making.

Planning Program:

- Assists local and regional organizations (District Organizations, Indian Tribes, and other eligible entities) with their short‐ and long‐term planning efforts.

University Center Economic Development:

- Makes the properties of universities accessible to the economic improvement community.

Trade Adjustment Assistance for Firms:

- Supports a national network of eleven Trade Adjustment Assistance Centers that assists U.S. small and medium‐sized businesses impacted by increased imports with the development and implementation of business recovery and global competitiveness strategies to retain and create jobs.

There are some requirements in order to obtain funding from the EDA. EDA assesses every submission file on the foundation of its conformance with the asset program procedures, backing precedence concerns, and entitlement requests recognized in the applicable Federal Funding Opportunity. The applications are available on www.grants.gov. You can either submit a hard copy or an online copy to the EDA.

There is other information that is offered on the EDA website. They provide their participants with economic initiatives and current economic activity. The EDA also share pictures and stories of recent successes. I personally like how they show you that even through this terrible time, that money can be found in this economy and that it can be used to build and create something great. They also have a resources tab on their page so that any questions you might have will be answered by glancing at this portion. The EDA also provide past reports of economic growth.

I think there are advantages and disadvantages to alternative financing. Some programs that people put money into, they never get back out. And then there are the other programs that create success and accomplishment. Alternative financing can also get tricky if you do not do all the research. Some of the programs are not as stable as others. But there are a good number of programs with a good work history.

http://www.eda.gov/

Bobby Flay's Business Plan and the Food Through Culture Business Plan

Looking at Bobby Flay and his expertise on business plans, I have made note of his techniques. I have learned that I need to have industry experience before I launch my business. Bobby Flay started out by working a restaurant with his father. It was there that he learned that he needed to further his education in culinary arts. After he graduated from culinary school he opened up more restaurants, wrote cookbooks and became a television personality.

I intend to incorporate what I learned from Bobby Flay by gaining experience in my field, which is travel, food and entertainment. I am already receiving my education from Full Sail University, where I graduate in September with a Master’s Degree in Entertainment Business. After I graduate I intend to start blogging or write free-lance pieces that will eventually lead to a book. I am also hoping that the book will turn into a television series on the Food Network, Travel Channel, Cooking Channel or Discovery Channel.

I have not made in specific changes to my plan. I have changed my plan compared to Bobby Flay’s. He owned a restaurant, then got his education, then launched the rest of his business plan. I am getting me education, then I am going to gain experience and then from there I will launch the rest of my business plan.  Before I read about Bobby Flay’s business plan, I really had no direction of how I should execute my own business plan. By using him as a model, I have created a distinct and precise business plan that I can follow through with.

The section of the business plan that I believe is most important is the experience portion. By gaining experience, I gain insight on the industry that I wish to become a part of.  The experience will prepare me for obstacles that I may run into when I start my own business. Another important aspect of my business plan is developing the product, which will be the book. I need to do the research in order to produce the book.

Recognized Experts

This topic is on recognized experts in the field of business plans. The first expert that I would like to point out is Bobby Flay. He represents food and culture, just like Food Through Culture plans to. He uses foods from several different cultures in order to make culinary masterpieces. 

Bobby Flay has 11 cookbooks and 11 restaurants and not to mention several shows on the Food Network and the Cooking Channel.  Next year he plans to venture into household goods and cooking supplies.

Bobby Flay was a High School dropout that partnered with his Dad on a restaurant. He also sent himself to culinary school.

It seems that Mr. Flay’s point of view on success came from culinary incentive and creativeness. He has intricate business plans. He first started as a chef, turned into a restaurateur, to an author and most commonly known as a television host. He is a chef-preneur who made a game plan that would be sure of success.

The second acknowledgeable expert is Kim Kardashian. She is a reality television star that took advantage of the spotlight. Her family name was infamous for winning the O.J. Simpson trial. She was  also great friend of Paris Hilton. She is most famous for her show Keeping Up With the Kardashians, her boutique and her scandal.

From her reality show Kim Kardashian posed for Playboy, expanded her boutique, created a fragrance line and launched a shoe-of-the-month club.

I recognize her because she took her sleazy fame and turned it into a career. She created an indestructible business plan by providing girls and women with entertainment, fashion and beauty. She has conquered all three of these realms.

When investors are looking for key components in a plan they look for stability, creativity and security. They look at the stability of the client in order to make sure that their product or service is established enough to last. Another thing they look for is creativity, without a unique idea, you have no following or interest. The last thing they look at is security. They check to see if their client has the funds to back up the venture.

 http://money.cnn.com/galleries/2011/smallbusiness/1106/gallery.celebrity_chefs_business/4.html

http://www.infoplease.com/biography/var/kimkardashian.html 

http://www.wetpaint.com/kourtney-and-kim-take-new-york/articles/kim-kardashian-named-entrepreneur-of-the-year-at-glamour-awards 

Surveys and Social Media

 Surveys and Social Media

This week we learned that social media includes much more than just blogs and Facebooks. I learned that it could include surveys and feedback from visitors or customers as well. Starbucks has one of the best social media outlets due to their My Starbucks Idea webpage. 

“The site allows users to submit suggestions to be voted on by Starbucks consumers, and the most popular suggestions are highlighted and reviewed. Starbucks then took it a step further and added an “Ideas in Action” blog that gives updates to users on the status of changes suggested.”

It’s kind of like a mini share site that allows customers to rant or rave. Starbucks gets the feedback that they want, while also comforting the customer. The ideas include anything from drink ideas to company efficiency.

I actually work for Starbucks and if there is one thing the company is good at, it is listening to its customers and employees. They created community service outlets for the employees, applications for the customers, feedback comment cards in-store and my Starbucks idea webpage.

I think that Starbucks efficiently uses the feedback aspect of social media in order to gain the following and growth of customers. Sometimes there might not be good feedback, but you will always know what the customers are expecting and how to change your business.

This week I also created a survey for my blog. This way I can learn how others feel about my blog and how to improve it. I appreciate this tool because I now use it on my other blog that correlates more to my company, Food Through Culture. The survey asks what viewers think of my blog and what they think of the company. I asked them what they think about the company because it is a brand new company and their feedback would help determine whether my venture is wanted and possible.

Most people see social media as social networking sites, but it can include communications between employees and customers too. A company can learn a lot about its customers by letting them share their piece of mind.

http://mashable.com/2009/02/06/social-media-smartest-brands/

Deal Sites

Everyone has heard of the deal sites like Groupon and Living Social. These sites have everything to do with digital marketing because all of their marketing is done via website, e-mail or phone application. The deal sites are also connected to the travel industry because some people travel to use the deals and some of the deals are vacations or getaways.

I found an article from the Associated Press that demonstrates just how successful this form of digital marketing really is. The article starts off by revealing how fast the deal sites are growing and they are growing at such a fast pace that their offices have not been able to keep up.

“In just three years, the business model has changed local advertising, delivering faster results than other marketing methods. Store owners get immediate revenue and can see exactly how many customers an offer brings in.”

This form of marketing creates an immediate effect on shopping. Companies advertise the deals and the customers flock to buy. This is a new form of commerce that changed the way companies market their products.

The deal sites have more than doubled and have expected to generate $2.7 billion in revenue this year and it is said that the daily market could reach $4 billion by 2015.

Social networking sites are hopping on board with the deals and so have other shopper sites. Everyone is out to grab a piece of this new marketing method. There are two different types of deal sites, group buying sites and flash sale sites. The group buying sites are the ones like Groupon and Living Social that partner with local businesses for special offer. Flash sale sites like Ruelala and Gilt, host limited-time sales for members only.

Some merchants are so quick to create a deal that they end up getting burned. The deal takes too much from the company and the consumers make out with an even better deal than they thought. This tool has also created awareness for customers. It allows customers to find companies that they never could have before.

I personally have used Groupon and can honestly say that this form of digital marketing is remarkable. I see deal sites staying for a long time. I think that this is a form of digital marketing that has just started and over time will develop into something bigger than we can even imagine. Maybe even paper coupons and advertisements will be eliminated all because of this type of marketing.

http://www.google.com/hostednews/ap/article/ALeqM5i6_d0K1kZvj0ndrYvZgULNtZP1Lw?docId=9cd3fe4949cc49a382221d936ce9a1e8

Travel Journalism and Applications

It’s a hard market for travel writers now, especially with everything being online. One innovative tactic that has recently come to my attention is mobile applications. Travel writers are now creating mobile apps to release their work.

In the article, “Apps-the Future of Travel Journalism”, Lee Foster explains how he makes more money off of applications than he did books. Foster says, “Royalty rates for authors of apps are much higher than for authors of books, and for good reason.” Now we see that royalties are larger than books, so it might be easier to create an application and submit your work through there.

He also points out that the low price point will build a new market. For applications you can set your own price, which can help by determining worth and profit. The applications are also available everywhere. You can supply applications for all types of phones, like Android or Apple. People can also access the application at anytime, unlike a phone where you have to carry it with you wherever you go.

Articles and books are also available on many other formats now. Books and articles can be found on Kindles, Nooks, phones, tablets or iPads. Text be can be accessed everywhere at any given time. If you are a travel writer that does not have a book out, well magazines, articles and blogs can all be accessed on these devices. I suggest that you release your work on every platform possible. That you have more of a chance of reaching the most amount of people.

It seems to me that travel writing is becoming technologically advanced like the rest of the world. I think it is a great thing because before travel writers were down on how they could make a profit since everything relates to phones and Internet now. I feel like travel journalism now requires the author to be creative in ways he or she has never imagined.

http://www.fostertravel.com/apps-the-future-of-travel-journalism/?utm_source=Foster+Travel+Publishing&utm_campaign=017f183bcc-RSS_EMAIL_CAMPAIGN&utm_medium=email