Real-time internet brings opportunities and risks

Steve Richards, managing director of Yomego, explains why real-time internet is more than a passing fad and urges organisations to be aware of the new risks and opportunities the trend is creating.

Real-time internet is defined as material that is literally published in real time using social networks such as Twitter, Facebook and Friendfeed meaning there is virtually no delay between the material being composed and then published online.

Between the major platforms, it is estimated that 300-400 million people currently use some aspect of the real-time internet.

Some companies have already realised the huge opportunity this audience offers to turn participation in the real-time internet into genuine financial gain.

US computer maker Dell is a perfect example.

In 2007, Dell set up @DellOutlet on Twitter, offering followers a mixture of exclusive news and money-off promotions.

The money-off promotions are always time-specific.

From the point Dell tweets an offer, followers will usually have at most a few hours to make a purchase.

The account has been a huge success and, between October 2008 and June 2009, Dell generated in excess of USD3m (GBP1.8m) in revenue.

But the real-time internet is also helping to democratise information and as a result seriously damaging those political regimes who want to control their populations.

Demonstrations in Iran in the wake of the recent Iranian elections are a case in point.

Until recently, the Iranian authorities have been able to exercise tight control over traditional media inside Iran.

But with platforms like Twitter, Facebook and Youtube offering users the opportunity to upload and transmit information instantaneously, we have seen the authorities in Iran losing control.

The real-time nature of these platforms has allowed protestors to circumvent state control and to arrange meetings, share information and get the word out to the outside world.

Real-time internet can also do real damage to the commercial prospects of certain organisations if they get a bad write-up.

'Bruno', the latest film from Sacha Baron Cohen for instance did really well on its opening day at the US box office, grossing USD14.4m and prompting Universal Pictures to predict that the film should reach USD50m in sales over its opening weekend.

But the following day's sales dropped by almost 40 per cent.

The reason?
Some of the film's content set the Twitterverse alight on the Friday evening, with large groups of the first-night audience, including gay and lesbian groups, being less than positive about it.

The mass review on Twitter persuaded a huge number of cinemagoers not to go and see the film.

If organisations aren't already paying close attention to how they should be engaging with the real-time internet, they need to start doing so and quickly.

Otherwise, it could cost them money, credibility or even their brand.

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