Key Terms
Wikinomics: Built on four ideas which explain how technology has changed how we produce and distribute media (e.g. being able to access newspapers online now instead of physically):
- Openness - Including not only open standards and content but also financial transparency and an open attitude towards external ideas and resources (companies and how finances were ran in businesses and at home with web purchases)
- Peering - Replacing the hierarchal models with a collaborative forum. Tapscott and Williams identified Linux as the 'quintessential example of peering'
- Sharing - A less proprietary approach to products, IP's, bandwidth and scientific knowledge.
- Acting Globally - Embracing globalization and challenging physical and geographical boundaries for both corporations and individual users. Audiences and prosumers are able to interact and collaborate with the rest of the world via social media.
Global Village: An online community brought together through the internet from across international borders
Social Media Aggregation: Collecting information through social media tools
Sales Funnel: A sales tactic created to optimise audience engagement through:
- Generating leads
- Building credibility
- Staying on top of mind
- Driving a sweet spot
- Strengthening relationships
- Earning referrals
Grassroot Production: An indie production (low-budget, small team, early project)
Prosumer: A consumer which also creates content
Crowdsourcing: Gaining ideas/feedback from an audience
Crowdfunding: Gaining income via donations from an audience
Globalization: The reach toward audiences globally/internationally
Online Project Management Tools:
Synergy: Cross promoting a product across multiple platforms (e.g. An Instagram page with a link to a Tik Tok account)
Blended Marketing: Blending both traditional and viral/online marketing methods
Folksonomy: Encouraging audiences to create User Generated Content (UGC) through interacting with your product
Electronic Agora: An online community
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