Brand as media company has been a term discussed among the marketing community for years. I even wrote a book about it in 2013 called Your Brand: The Next Media Company.
Content is the lifeline in today’s social ecosystem so it makes sense. But content is so much more than being creative or simply marketing. It’s more than what you write on a blog, tweet, update on Facebook, or record on a video. There is a fundamental challenge for brands today to not only create good content but to strategically feed the content engine day in and day out if they truly want to change consumer behavior. Unfortunately there just aren’t enough resources within the marketing department to do this well.
What is a media company?
A media company produces content and stories targeted towards different audiences. The content stems from long form articles, short form content, videos, and in many cases live video. If you think about it, a media company operates very much like a traditional newsroom. They produce relevant content quickly and efficiently and have agile teams.
This is why brand managers and marketers must start thinking and acting more like media companies. And the question you may have is “why”? Here are few reasons:
- We live in a multi-screen economy. Read this report by Google. We are all consuming content using multiple devices, sometimes simultaneously all the time.
- ADD (meaning Attention Deficit Disorder) is common among us. We can blame the multitude of devices, all the marketing messages, coffee or a combination of all three. How many times have you walked into a restaurant and have seen 4 people sitting at a table all looking down at their devices and no one talking? It’s the world we live in.
- All we want is relevance. This is one reason why consumers create filters – so they only consume content that is relevant to them at a given time. It reminds of when I was in the market to refinance my home a few years back. During the process, I remember seeing hundreds of messages and advertisements discussing interest rates on billboards, online, search and even conversations on Twitter and Facebook. The minute I refinanced my home, all the messages went away. Truth is, they didn’t really go away. They just weren’t relevant to me any longer. I put up filters.
- The customer journey is dynamic. We check text messages, Facebook notifications, @replies, @mentions @direct messages, comments on Tumblr, Instagram, Pinterest, WordPress. We see status updates, tweets, photos, videos and we read articles from news aggregators, RSS feeds and Google is our home page for everything and our gateway for finding relevance. And this is all done dynamically, no routine, no process, just random acts of content consumption each and every day.
- We need to interact with a message 3 – 5 times before we believe it. So if your company is launching a new product or service, we need to hear or read about it in multiple touch points such as a tweet, a news article, a friend’s status update, in search and the list goes on.
Can you now see why brands need to evolve their thinking? Relevant, meaningful, timely and a lot of content is necessary to reach consumers. And, to make matters worse … content is challenging for for brands today when you consider the following:
- Content planning
- Content creation, curation, aggregation
- Content integration with paid, earned and owned media
- Content distribution
- Content Optimization (real time)
- Content measurement
If you look at what many companies are doing online today, you will notice disjointed content, confusing messages, very little coordination with paid, earned and owned media; the frequency of content is minimal and the content engine is running low on fumes. And these are just the external things that we see. We don’t see the turmoil of what’s happening inside the organization.
This is why it’s critical for brands to become media companies. It’s essential for their PR strategy and the only way to stay competitive.
Establishing a centralized team, assigning roles & responsibilities (like that of a newsroom) and building processes and protocols that brands (large and small) can take to begin this transformation.
Note: This post was originally written on Jan 21, 2013.
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