Content is hot! What used to be a relatively small cadre of bloggers and YouTube enthusiasts has become a major marketing arena. There is a slew of specialist agencies producing branded content and major media outlets offering native advertising.
Yet some believe that content marketing has already jumped the shark. On his popular {grow} blog, Mark Schaefer argues that, because there is so much more content and only a finite attention span, content marketing is no longer a sustainable model.
I don’t find that a compelling argument, because it could be said about anything Today, we have not only more web sites, but also more movies, TV channels and consumer goods than a decade ago and those business keep getting more profitable. The truth is that content marketing has ceased to be a cottage industry and it’s time to start doing it right.
First, Stop Calling It Content
I think the problem probably started with Bill Gates’s famous Content is King essay, in which he quite presciently argued that content would be the “killer app” of the Internet. He foresaw, back in 1996, that “those who succeed will propel the Internet forward as a marketplace of ideas, experiences, and products—a marketplace of content.”
Entrepreneurs and venture capitalists quickly piled on, looking to acquire content, leverage content and marry content with distribution in order to create an unbeatable business model. It was an exciting time, with lots of buzzwords and deal flow. You couldn’t help but get caught up in it.
Unfortunately, most ventures failed, including Microsoft MSFT +1.81%’s own partnership with NBC. The problem is that content is not a fungible entity, like pork bellies or credit default swaps. It’s what informs, entertains and inspires us. Very talented people devote their entire careers to learning how to do it effectively.
So, if you’re merely looking to do some content marketing, you will most likely fail. Brands need to become publishers and that entails not only new activity, but new skills and a new perspective.
Defining The Mission
Marketers are trained to think in terms of objectives. They have a specific goal in mind, such as building awareness, driving sales or increasing loyalty. They devise strategies in order to achieve those ends and design metrics in order to measure success. Once those goals are met, they move on to new objectives and a new strategy.