The problems of content marketing apply to you as a marketer whether you’re actually practicing “content marketing” or not.
In any enterprise, there’s a New York Times-scale amount of content getting produced.[i] And your customers are hoovering up content (from a brand or otherwise, in many channels, interchangably) and making decisions based upon it.[ii]
That means you’re in the content business. And the more customers control the purchase path, the more marketers find themselves in the content marketing business.
Which means you will be dealing with the problems content marketing creates. Two of these problems are particular to marketing teams and governance. These are best explained with analogies:
The Menu Problem – How content gets conceived and planned
The Sausage Problem – How content gets made and delivered
The Menu Problem
Marketers don’t have much experience running editorial organizations. This is best reflected in the low percentage of marketers who report that they follow a content marketing strategy.[iii]
A strategy is necessary.[iv] And no one is taking the responsibility to make one.
Set against marketing messages, I would rather listen to my neighbor’s opinion of a product. A critic’s opinion. An expert’s. Any idiot with an Internet connection, in fact (according to our research, review content from complete strangers is more trustworthy than messages from brands).
The payload of this realization – that marketers’ messages are overinvested in by a million percent and underdeliver by an equal value – strikes our marketing foundations, oh so softly. Thud. Pop. Distant thunder.
Simultaneously it’s never been easier for other people to write about our brands, to create breathtaking personal tributes to our products, to call out our worst policies, and even to slander us. The crowds have snatched the megaphone and they won’t give it back.
These are two factors in a big equation that we’re still only beginning to calculate.
So far, we’ve dealt with these changes pragmatically and conservatively.
Community management is a perfect example of the pragmatic response. Community management is just a series of tribal agreements about playing rules. The brand will not allow threads that include the word “shit”. The brand will retweet only tweets from registered users. The brand answers requests within one hour between 9 AM and 9 PM EST. The brand will blog politely about its topic.
The marketing fortress has collapsed, the mobs are baying for blood, and the sop you throw this change is to play nice? This is what I’d call the Marie Antoinette response.
Forrester analysts are encouraged to “make the call” and here’s a call that is sure to invite some heated disagreement (native advertising has a way of doing that).
Today my report about native advertising came out and, if I had to bottle up the recommendation of the entire report in a two-word slogan, this would be it: Worth pursuing. That’s not “pour all your advertising dollars into it”, “go hog wild!” or any variant on that theme. By “worth pursuing”, I would say that it: a) is a very imperfect tactic, b) holds great promise, and c) requires some experience to get right.
(First of all, if you’re not sure what native advertising is, quickly go here [definition] or here [examples]).
Let’s start by assessing the promise of native advertising. What’s so great about it?
From a marketer’s perspective, the opportunity to go from a position “next to the show”, “interrupting the show” or “between the shows”, to “part and parcel of the show” is extraordinary. The church/state editorial wall that media outlets have trained advertisers to respect has become porous, and it’s the outlets themselves who are pounding holes in it (most recently, the New York Times). That change should not be underestimated.
While OneSpot and Resonance HQ (which offers a similar service) drive content engagement through banner ads, native advertising or sponsored content puts branded content straight into digital publishers’ editorial mix (often with “sponsored by” or “sponsor content” next to it). Vendors like Outbrain, Taboola, AdBlade, Sharethrough, LinkSmart, Nativo, Media Voice and AdsNative are vying for a $2 billion per year native advertising market that’s growing by as much as 20% year on year.
Add to this the plays by Facebook, LinkedIn, and Twitter that allow marketers to purchase visibility for their content in certain users’ timelines. For both Facebook and twitter, this is their only source of revenue for a growing proportion of mobile users, and it looks like Wall Street may be rewarding them for this mobile-driven success.
Here’s your fortnightly round-up of the best of the best stuff online for marketers who think about content. (For more information about what the Content Marketing Fortnight is, see my intro from the first one. And, if you want to get this curated newsletter in your inbox every other week, send me a mail.)
Digital technologies have put the very definition of advertising and marketing up for grabs. Now, when a marketer asks for a new campaign, the response from the team is literally a question mark.
At the forefront of those shifts: An idea that advertising should be more useful and valuable. Content marketing winds are blowing down Madison Avenue.
How do VCs value content marketing
An interesting article in VentureBeat shares compelling analysis of VC investment in the content marketing space. Six investment buckets emerge. It’s worth noting that the top four relate specifically to helping brands get broader distribution for their branded content messages. (NB! I have a report coming out next week about distribution of branded content).
Only days before the New Hampshire primaries, an article appears on the Des Moines Times-Courier website: “Candidate Chris Christie Hiding Past As Exotic Dancer,” and quickly goes viral, appearing in millions of Twitter streams, Facebook feeds, and email inboxes. Most people see the headline and shake their heads – “Politicians!” As a result, Christie loses the New Hampshire primary, even though the New York Times had revealed that the Des Moines article was a piece of native advertising paid for by a competitor. Christie’s campaign crumbles – from presidential favorite to footnote.
This is the kind of native advertising horror story that’s got old-school journalists hiding under their beds. They ask: “What happens when people don’t know who paid for the content?”
The example, and any horror story like it, is hyperbolic. It’s not going to happen. (And if politicians wanted to tar an opponent, there are far slicker ways to do it.)
In fact, native advertising’s been going on for decades. The original soap operas were native advertising. So are those boring “Invest in Tackyvania” inserts in The Economist.
The journalists and editors are worried about the skyrocketing popularity of native advertising online for a couple of reasons:
1) Online, it’s often not clear what’s a native ad and what isn’t.
2) They worry about how it reflects on their editorial content (and authority).
I read a disconcerting amount of content about content; you wouldn’t expect less from Forrester’s content marketing analyst. So I thought: Why not do something with it? I’m going to curate and occasionally publish a great little list of content links.
As introduction, here's my formula for curation.
Tight focus on audience: This is for marketing leaders who work with content in one way or other. If you don’t work in marketing or think about content, this will be of less value. My goal’s to give people who think about or work with content a list of recent articles on the topic, out of which at least a couple will be solid gold. (N.B.! I explicitly avoid the “16 golden tips for [this, that or the other]” types of linkbait posts. Duh.)
Process: I rock Feedly with a pile of RSS feeds from content sites, a private Twitter list of content influencers, a stack of email newsletters, and a host of other sources pretty much every day. I make a list of the best stuff as I browse. After a couple of weeks, I give each piece on the list one to four stars. Four stars and some three stars make the cut. Then I give each a succinct treatment and a comment to frame it. Serve cold!
Without further ado, here’s the best news, ideas, and opinions on content in the last fortnight! (P.S. If you want me to send the Content Marketing Fortnight to you next time, email me).
Given the mighty spend, the silence around the economics of content is deafening. There’s the high-level question of content marketing ROI–a topic larger than any blog post. But, at a more basic level, how many marketers plan how and where their content drives business value?
Call this the content impact model:
If marketers create and distribute content to generate value, there are two simultaneous and non-exclusive paths by which value is created:
1. Intrinsic: Consumption of the content itself brings value to the brand, by making the reader/viewer aware of the brand, its expertise or products. 2. Extrinsic: All of the value that can be extracted by a reader/viewer arriving at or opening the content (but not the content itself).
This post looks specifically at extrinsic value. This value is created or released by mechanisms that I’ll call catalysts of content marketing value.
"What's at the heart of content marketing?"
"Why does content marketing make sense for me?"
"How do I do it well?"
Chances are, you're asking yourself one or, indeed, all of the above questions. And that is why I have decided to join Forrester's Marketing Leadership research team as a senior analyst.
I've been working with content marketing since 1998, well before it was called content marketing, and most recently at an agency that specialized in it, Velocity Partners. Before that, I helped major Scandinavian brands like Kongsberg and ABB understand how to weave content marketing in their marketing strategy and mix.
Every time I discuss content marketing with practitioners, two observations regularly surface:
1. It's very powerful. The idea of doing marketing that customers want, that they even seek out, is enticing. It can create a virtuous cycle that makes everything else (social media, email marketing, events and campaigns) much more effective. Red Bull is the consumer brand poster boy for this, but companies as diverse as GE, Hubspot, American Express, Ford and IBM are also doing it well.
2. It's very difficult. Most brands have very little experience making content that customers want and seek out. Producing great content-driven experiences, repeatedly, over time and with a limited budget, that deliver visible value for customers and prospects, and that drive business outcomes for the brand, is hard. It's particularly hard for marketers accustomed to a product-benefit or brand benefit frame of thinking, and the big bang ad campaigns that go with it.