New media means new ideas

Posted on 03/12/08
Written by Nadia Mohammad

(The Eyeopener) - Megacorporations want you to think otherwise, but the consumer is indeed the king of new media, said an internationally known high-tech entrepreneur.

"The world is different now," said James Norrie, a successful executive with more than 10 years of experience creating and managing e-business ventures. Norrie, who is also the director of the Information Technology Management program at Ryerson, was speaking at the New Media: A Fresh Connection with Consumers forum in the Simpson Tower last week. The event was presented by the Ryerson Business Forum.

The new marketing is no longer about content and is more about context, Norrie said. He suggested companies are beginning to lose control and consumers are the ones who are making the decisions about what is worthy of their money.

For instance, online ad spending is growing faster than ever before. The United States spent $30 billion on online advertising last year alone, Norrie said.

And even charities are getting into the act, said Mark Banbury, vice president of Plan Canada.

Any person with a sad story can post it online and ask for money, and more and more people are going online to donate money through websites that make it very easy to do so, he said.

It's more than just about e-money. "I couldn't offer this experience in an offline world," he said.

George Phu, co-chairman of the Ryerson Business Forum, said he and his team decided to have new media as this year's theme because it is the future. Phu wants Ryerson students to understand that the world is changing and Ryerson is going to be a part of it.

"This is a way for students to be involved in activities. It is a way of networking with corporate delegates, faculty and students," he said.

Joel said students need to get involved as soon as possible. Not only should we be viewing content online, but also being a part of it.

"Don't just watch, do it. Upload something on YouTube," he said.