Considering the millions of blogs on the internet, is there value in adding another voice to the crowd? The world is currently awash in content. Web 2.0 has opened the flood gates to user empowerment and content-on-content compounding. So with all the user generated flotsam filling the internet ocean, is anyone actually listening?
Over the past few years, I’ve learned to appreciate the value of having a voice on the web having seen blogging emerge as the universally accepted platform for open online communication. From an economist’s perspective, similarities can drawn between the utility of blogs and that of money. From Econ 101, most will remember that money has the following three characteristics: store of value, means of exchange and measurement of wealth. Throughout the internet, blogging exhibits these characteristics in a number of ways:
Store of Value
At their core, blogs record thoughts, opinions and facts (although it seems like few focus on the latter). By aggregating content over time, value can be created and stored. Permalinks are the best example of stored value through blogs. The value of these links grows as content-on-content compounding takes flight.
Means of Exchange
Although blogs are not physically traded for goods and services, blogging links provide a medium to exchange publicity and credibility. Specifically, many successful bloggers leverage linkbacks to provide reciprocal recognition. In exchange for posting interesting or obscure content, the best (or luckiest) bloggers can attract huge numbers of eyeballs from around the world in split seconds. Blogging also provides an efficient platform for the exchanging of thoughts. On the aggregate, this exchange grows efficient as content is easily digested and disseminated or dismissed.
Measurement of Wealth
While this last one is more of a stretch, blogs can provide a measure of psychological or intellectual wealth. Although this measurement is far from scientific, blogs provide a natural mechanism for ranking the relative value of thoughts. Of course, blogs with many subscribers have a higher perceived content value than those lacking interest. With all the metric ranking software available, it’s clear that people are interested in understanding the relative value of their content in the marketplace.
May 7th, 2008 at 12:49 pm
I’d also say that a blog is a useful way to start building a definition of yourself online, as well. When people do a google search of my name and results that I wrote come up near the top I have the ability to help shape what those people learn about me.