Too big to Facebook? For some companies, no social media necessary
Here’s an interesting blog from CNET’s Tim Leberecht about two media titans, Apple and Bloomberg; more specifically, Leberecht examines how the two companies have done well without embracing traditional social media platforms.
Both Apple and Bloomberg create value by heavily relying on network effects within an ecosystem that they tightly control. Both are distributing content to raise demand for their products. And both have a strong brand to extend – and to lose.
Both companies have built their brand on product secrecy — in fact, you could argue that they both cater to an elite audience. And, certainly, the consumers buy into this. It would seem that Bloomberg terminal users and news consumers don’t give a tweet about social media (evidenced by the fact that the Bloomberg News Twitter account only has 52 followers). But the growing and presumably diverse array of Apple users, on the other hand, might like periodic updates about what’s new in iPods and other assorted gadgetry.
Do these companies really think they’re too big for social media? More importantly, are they? Seems they’re not doing too badly without it.
