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BuzzFeed Mission and Vision Statement Analysis

Are you interested in discovering the secret of the success of BuzzFeed?

This popular entertainment, news, and internet content corporation boasts a unique format and revenue stream. In many ways, the company has served as the driving force behind the new way of modern media creation and consumption. Clues to the success of the company can be seen in its mission and vision statements which reveal the concept behind the company and the plans for future development.

So, let’s go through my in-depth BuzzFeed mission and vision statement analysis to find out more about this fascinating company.

buzzfeed mission and vision statement analysis

The Company History

BuzzFeed was founded by Jonah Peretti and John S Johnson III in 2006. Peretti was formerly the director of the OpenLab and research and development at Eyebeam. This experience allowed him to experiment with different types of viral media.

Peretti started BuzzFeed, which was originally called BuzzFeed Laboratories, while he worked at the Huffington Post. The company started as a side project and did not employ writers or editors. Instead, it used a special algorithm to take viral stories from around the world.

Read more: Johnson & Johnson Mission and Vision Statement Analysis

Algorithms that know your interests!

The site launched the BuzzBot instant messaging client, which provided users with links to popular content. Special algorithms were used to determine the content different users would be interested in. This has helped the company to appeal to people of all ages and from all walks of life.

BuzzFeed News was launched in 2016 as a separate division from the BuzzFeed Entertainment Group. The company now employs special news correspondents in twelve different countries to report on news stories. Each of these correspondents boasts specialist skills and insight that lead to unique and insightful news stories.

Languages from around the world…

Today, BuzzFeed boasts more than 1,700 employees and an annual revenue exceeding $421 million. The company’s content is available in English, French, German, Spanish, Arabic, Portuguese, and Japanese.

the buzzfeed mission and vision statement analysis

The Mission Statement

The mission statement of BuzzFeed is ‘redefining online advertising with social, content-driven publishing technology.’ This statement reveals the tactics the company employs to remain popular and relevant. There are two main elements of the mission statement that we can explore in more detail.

Redefining online advertising

This element reveals the company’s focus on contributing to the growth and development of online advertising. The enormous potential of the digital space was quickly recognized and utilized by the company’s creators. Employees use this to share change-drive and constructive informational content.

Improving communities through content

This highlights the benefits that individuals and entire communities experience due to the vast access to knowledge. In addition to entertainment content, BuzzFeed creates and promotes important information. This includes information on health, nutrition, and current events.

The Vision Statement

‘Leading independent digital media company, which leverages data and innovation to reach hundreds of millions of people globally.’ This is the unofficial vision statement of BuzzFeed, which is presented on the company’s About Us page. This statement refers to the influence the company strives to have on the media industry and reveals the fact that the company relies on innovation to remain an industry leader.

Company Values

The company operates under four main values that influence everything that it does. All employees are expected to understand these core values and connect them to their work. These values have helped BuzzFeed to create a strong, unified, and relatable company culture.

Integrity

Subscribers to BuzzFeed News must know that they are receiving factual content. The company’s commitment to integrity has helped install trust and loyalty among subscribers.

Independence

BuzzFeed has never been afraid to stand out from the crowd and do things a bit differently. The company encourages diversity and allows content creators to follow their own paths.

Excellence

There is no room for error or inferiority in the media industry. BuzzFeed is committed to providing nothing but the best at all times. Employees are expected to go the extra mile at all times to create and deliver excellent content.

Collaboration

The company works closely with affiliates and experts in different fields. These special collaborations have helped the company to grow and thrive in the fast-paced media industry.

the buzzfeed mission and the vision statement analysis

BuzzFeed Content

New and innovative content is launched by BuzzFeed multiple times a day. Visitors to the site can be sure that there will always be something new for them to discover. This content features the work of syndicated cartoon artists, staff reporters, the BuzzFeed community, and other types of contributors.

The different types of content are divided into sections to make it easy for users to find:

News

The company’s news division was launched in 2011 to provide innovative and unique topical content. BuzzFeed employs talented and experienced investigative journalists to report on a wide range of topics.

Video

BuzzFeed Video produces original content through BuzzFeed Motion Picture’s flagship YouTube channel. The channel was launched in 2012 and has produced many popular video series. Night In/Night Out and The Try Guys both enjoyed a very large following.

Podcasts

The company’s in-house podcasting team was established in 2015 and has launched many popular podcasts. The company’s longest-running podcast was the critically acclaimed Thirst Aid Kit. Other popular podcasts include Another Round, Internet Explorer, Reporting To You, Rerun, and The Tell Show.

Community

The Community section of the BuzzFeed website was launched in 2013 and allows users to submit content. New users are limited to one post per day, although this is increased as users raise their Cat Power. The Cat Power of a user increases as they gain prominence on the website.

This interactive feature has proven to be very successful. Users have the chance to see their posts and original content on the internet. They can see positive feedback, gain followers, and interact with their followers. By the start of 2017, the user-generated community content had received more than 100 million views.

Technology and social media

The majority of traffic to the BuzzFeed site comes from content that is shared on social media platforms. This includes Facebook, Twitter, Pinterest, and Instagram. This helps to increase exposure to certain types of content and generate huge activity.

Facebook users receive links to BuzzFeed content via their newsfeed. Once they click on the link, they are then redirected to the BuzzFeed site. This is a good way to appeal to people who would not otherwise visit the site directly.

Content that is relative…

BuzzFeed experts carefully select content based on how viral it is likely to become. Staff writers are ranked according to how many views their content has received. This helps inspire staff writers to create content that will be popular and shared among large numbers of users.

BuzzFeed Quizzes

This is perhaps one of the best-known and popular types of content that the company offers. Users are invited to create quizzes on virtually any topic they like. These quizzes are then shared on BuzzFeed and other social media platforms.

Users are inspired to take these quizzes via their engaging and provocative titles. Most quizzes are very simple and take just a few minutes to complete. At the end of each quiz, users are provided with links to more quizzes and other content to keep them engaged.

buzzfeed mission and the vision statement analysis

BuzzFeed Revenue Generation

Users can access most of BuzzFeed’s content free of charge. In order to fund this, the company’s website relies on advertising. This takes a number of different forms, which can be explored in more detail.

Display ads

These are banners that occupy prominent positions on the website. They are typically placed in the middle of articles, on the sidebar, and in the footer. The three main ways the company makes money from advertising are fixed price promotion, cost-per-click advertising, and cost-per-sale advertising.

Video advertising and collaboration

BuzzFeed collects a large amount of revenue from video advertising from clients like Facebook, YouTube, and other social media sites. BuzzFeed also receives ongoing royalty payments from collaborations with Universal Television and Netflix.

Native advertising

This is, in essence, an extension of the company’s content. The company receives payment when content creators mention certain products and services.

Affiliate marketing

BuzzFeed boasts a range of affiliate partners, including Walmart, Hilton Hotels, and Amazon. The company receives an affiliate commission each time users make purchases through the BuzzFeed shopping section.

BuzzFeed News

Users can pay $100 annually or $5 a month to receive access to BuzzFeed News. This special service helps support the creation of new content. Subscribers also receive member-only emails, exclusive gifts, and updates on new projects.

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Final Thoughts

With its fun and friendly approach to digital media, BuzzFeed has remained popular for nearly two decades.

The company has stayed ahead of social media trends and helped drive the shift from print to digital media. The ability to find a wide range of content in one place has helped the company to stay both relevant and popular.

While most BuzzFeed content is free, paying subscribers do receive access to special content. The company also boasts many other very lucrative venue streams. This has helped the company pay for and create more diverse content that appeals to a broad audience.

All the very best in landing a job at Buzzfeed!

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About Carmen Smith

Carmen grew up in San Diago but now lives in Boston. She loves traveling, experiencing other cultures, and basically exploring the world, be country at a time.

Her other passion is helping people find the perfect career. We spend 33% of our working lives at work, so it's ridiculous that many people do jobs that they do not enjoy. Carmen wants to change this and thinks that anyone who isn't happy in their employment should keep looking until they find something that they really enjoy. 

She firmly believes that "Everyone's perfect job is out there; it's just a case of continually looking until you find it."

Carmen lives with her husband Johnny, a keen birder who also loves to travel. He finds birds while Carmen makes plans for where they will be eating next...

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