If we go back less than two decades and you’d asked anyone about the internet you would have been greeted by a blank stare. A query about e-mail would have solicited a very similar response, and no-one had the vaguest notion of what a cellphone was.
Today as I sit here, I am watching a crystal clear live broadcast of the World Cup soccer on a cellphone screen courtesy of Multichoice! The point? The world just seems to be turning a lot quicker than it used to.
Decisions better be made almost instantaneously if you’re to maximise the benefit. So “Expediency, immediately” is certainly one way to go. On the other hand should you hold off on a decision, you’ll find you do it forever, because as one technology is adopted, its successor is merely months from the market. Witness ISDN to ADSL to G3, or MP3 to iPod. (And why is it that they no longer have real names for these services, but merely a jumble of letters and numbers?)
So the world is changing. New things that one couldn’t explain a few years ago suddenly have value. Not surprising therefore that in 2005 it’s a fact that 5,851 domain names were sold, with 15 of them changing hands for over half a million dollars each. It’s created a whole new industry – there are an estimated 1,000 to 2,000 “domainers” – individuals who make a living by buying and selling domain names. Internet Reit owned by Starbuck’s chairman, owns more than 400,000 names, and publicly traded Marchex spent 164 million dollars (over R1 billion) buying 100,000 names last year. And in 2006 www.sex.com was sold. The price? A paltry 12 million dollars.
And we’re even reinventing drudgery! The latest item on the American lifestyle menu is “destination supermarkets”. Sure you can get the Omo here, but at the same time choose from 500 different cheeses, and eat it with bread baked in Paris and flown in daily. This whilst the bagpipers play all of St. Patrick’s Day. And simultaneously the celebrity chef signs his latest book or does a demo or conducts a wine tasting. And logically there will be a gourmet restaurant. Sometimes a second floor! So whilst location, location, location used to be the end all and be all in terms of the three most important things for a supermarket (Remember “Checkers, just up your street”?) now consumers, to quote, “Are willing to drive to experience something they believe brings them value, and not just in the monetary sense!”
So the 21st Century so far is marked by mankind’s ability to sell things that exist only in the ether somewhere (like domain names) and convince people that grocery shopping is some sort of out of body experience. But perhaps the biggest slice of the cake has to go to the person who managed to commercialise the one basic resource we had – water! And noticeably the Aquafina’s and Dasani’s of the world are owned by the Pepsi’s and Coke’s of this world. All in all it makes no sense – most bottled waters do not contain fluoride (which all dentist’s agree is good for you!) and in addition we now have what are known as “Water Beverages” which contain things natural water does not have – like sugar, artificial sweeteners and calories!
And this is all relevant how from a media perspective? Well I think it has to define the attitude, approach and philosophy one must adopt. Be ever mindful of long term objectives and strategy. But one has to certainly balance this with a very short-term perspective. Think quick, act now, or the opportunity will move, change, or just fade away ———.
Harry Herber is group managing director of The MediaShop