This video on Jeff Jarvis’ Buzz Machine is worthing watching (be aware that it is an hour and a half).
Jarvis interviews the leaders of two companies that are seeing success with their digital strategies. Some of the interesting points to me are:
These companies were doing very poorly before executing their digital strategies. In some ways they had no choice but to adapt. This is an interesting problem that companies have and reflects some of the lessons of The Innovator’s Dilemma which describes the difficulty companies have in dealing with disruptive technologies.
There is a recognition that digital revenues are smaller (compared to the old model) and staff levels must reflect that reality. Old model companies are bloated and the adjustments will continue until staff, or salary, levels work. A difficult realization knowing that local television news viewership will continue to decline.