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By now you've heard Yahoo announced they plan on aquiring micro-blogging platform Tumblr for $1 Billion. The news made CEO David Karp a very wealthy 26 year old, it scared off a few die-hard Tumblr fans and probably makes Yahoo shareholders a little nervous.
But, what does this signal for the future of social media and user generated content? Whether or not this deal proves to be fundamentally sound, it does point to the perceived importance of user generated content, how we interact with it and how the market perceives the value of this platform. (Tumblr only generated $13 million in revenue last year.)
The theme here is that Yahoo is fearful of becoming the older, out-of touch player in a new world of social and content. Yahoo's power hungry CEO Marissa Mayer is placing a sizable bet on the fact that Tumblr's younger, more socially active user base can inject a cool and edgy lifeline back into it's veins.
It all comes down to content. The media giants need it; users want to create it and they need a place to consume it. This is today's Internet and the next wave of Internet users are going to change the platforms and distribution methods faster than what we're already familiar with happening. It took Twitter six years to go mainstream - six years could eventually become the entire lifespan of a billion dollar company from start to finish at the rate mega brands are swallowing up high valuation start up companies.
Consider the content you're creating, the platforms you're using and who's using them. Content discovery is changing and so is the way brands are marketing to these users. Watch for these new alternatives to present themselves and consider how they can help your dealership.
Does your dealership use Tumblr for creating content? Here's an old example of how I used Tumblr at my dealership to create hundreds of interviews with our twitter followers and customers.