Looks like a young entrepreneur will be laughing all the way to the bank thanks to Yahoo who has reportedly bought his app for an undisclosed sum – said to be around a cool 30 million dollars. What makes this story a little different, other than the fact the businessman in question is only 17 years old and started to write code for apps when he was just 12, is that what he has developed is actually really useful.
Summly condenses news items from the web into small chunks that are then readable on smartphone screens. Not only is this a handy option but you can click through to the full article if you want to read more – in turn driving traffic to the sites of global newspapers and syndication feeds. As a result he has kept news corporations on side by offering them something back and they have therefore agreed to share their content.
This is a fantastic example of a young and already very successful entrepreneur who has developed something that can make life easier for others. The app is clever, business led and will be of use to millions of people throughout the world. Most importantly it is a shining example to others that if they have a good idea they should pursue it.
However there is another side to this story…
I’m all for championing passion and entrepreneurial spirit, particularly in the next generation of business minds, but what I don’t want to see is a market flooded with unnecessary content that is neither use nor ornament.
What is absolutely fundamental in this story and what led to Nick D’Aloisio’s app attracting the attention of investors and therefore a significant investment into his business is that he thought it through. He was looking for something useful, that would appeal to the masses and he found it.
The same should be said of brands who are investing in digital content. There are lots of QR codes and AR campaigns that are hitting the headlines as the use of smartphones become every day to the majority of consumers however how many of these apps will be used more than once? And what purpose do they serve?
The best apps in relation to campaigns in my view are those that add value – they bring a different dimension to an integrated marketing strategy that builds on a message and delivers it across channels.
To engage with an audience is to keep them coming back and wanting more and this is where I believe that digital and the use of apps, QR and AR codes come into their own. Consumers want more than ever before – they want visual, audio, content rich communication and they want to be involved, or at least feel as if they are.
So before we all put the CEO of Yahoo into our phones on speed dial because we’ve come up with the next big thing, perhaps we need to stop and decide what it is actually brings to those who are going to use it. What will it do, what will it deliver and if the real answer is not a lot maybe it’s time to go back to the drawing board.