This is the third post in a series based upon our submission to Wharton’s Advertising 2020 initiative. The structure we’re loosely following here: 8 years, 8 potential future opportunities, 8 things to do now.
Previous instalments in the series are available here: Part 1 and Part 2.
The final instalment will follow tomorrow.
#5 Content Marketing: brands as content owners & partners
By 2020, the difference in value between access to basic information (demands to be free) versus knowledge (“okay, that’s valuable, I may pay for it”) will have been worked through. Mainstream audiences won’t respect old media owner boundaries. A younger audience today already feel that way:
“It is not our fault that their business has ceased to make sense in its traditional form…”
“One more thing: we do not want to pay for our memories. The films that remind us of our childhood, the music that accompanied us ten years ago: in the external memory network these are simply memories. Remembering them, exchanging them, and developing them is to us something as natural as the memory of ‘Casablanca’ is to you. We find online the films that we watched as children and we show them to our children, just as you told us the story about the Little Red Riding Hood or Goldilocks. Can you imagine that someone could accuse you of breaking the law in this way? We cannot, either.”
“We, the web kids”, Piotr Czerski, writing in 2012
When information flows freely, traditional ‘middlemen’ relationships get disrupted, even collapse. Will this lead to the eventual or partial disintermediation of the media owner? Sure, some traditional media owners will make a full digital transition to expert curators, aggregators and creators in their fields of entertainment (music, games, film etc), information and news. Elsewhere, social platforms are connecting owners of great content to their own audiences, allowing their content to be found, searched, shared and watched together easily. Even in 2012, as Brian Norgard at Chill puts it, “Social is emerging as a starting distribution point for content.” Assuming this happens to some degree, it follows that aside from paid-for advertising, more and more successful brands will have:
a) formed partnerships with content owners directly, and/or
b) become bona fide content owners themselves.
With (a), the opportunity is to face the issue together. Brands play a legitimate role, funding the distribution of valuable knowledge or content to savvy audiences who know their attention is valuable too. Think partner, not sponsor. It’s a transparent, transactional relationship with 3 parties: the end user gets high value content and experiences for free or subsidised; the brand earns awareness, earned word of mouth and even purchase in return; the producer gets funding, reach and publicity:
The 3-Party Market (Chris Anderson, "Free" 2009) adapted by BBH Labs here
With (b), brands act as publishers and content owners in their own right, distributing their own content via their own networks, building their own audience databases… rinse and repeat. What content can a brand credibly create that people will want to seek out, share and make their own? Already, brands like Red Bull, Ford, Coke et al are pouring budget into content, eschewing traditional bought media and distributing instead via seeding, PR and the social web. It’s an all or nothing strategy, your content needs to be nothing short of extraordinary. By way of example, DC Shoes’ 9 minute epic featuring Ken Block treating San Francisco as his personal gymkhana playground. It has 27m 35m views and counting. (more…)