If you’re a digitally transformed organisation in the brand, publishing or broadcasting space, or any digital content creator for that matter, chances are you’ve discovered that while having a digital content strategy and a platform to share it is one thing, monetising digital content is another matter.
For digital content creators, monetising digital content is the last great hurdle on the journey to sustainability, with traditional revenue-generating channels (like print) still propping up the digital space in many cases. So what can you do to make the digital space the driving force in your business?
Build communities, not followers
Communities are valuable, followers are not. And digital communities that reside within your own branded platforms are more likely to attract the attention of sponsors or brand partners than your social media audience, which exists on external platforms over which you have minimal control.
So how do you entice your digital community away from the likes of Facebook, Instagram or other third-party platforms, the popularity of which can fall as fast as they rise (Myspace anyone?), and into a branded native app community for instance, where users can be incentivised to subscribe to premium content and be more effectively reached via branded content or in-app advertising services.
Hi-quality content is just the start, but to build digital communities that last, community members need to be allowed to tell their own stories, and to be incentivised for this engagement – in the form of unique brand experiences, competitions and more.
UGC works because, unlike internally crafted marketing messages, community experiences – via comments, photos or videos – are more authentic and more likely to be trusted. Allow your community to relate shared experiences, and use these experiences to tell authentic brand stories, engender loyalty, and ultimately increase sales or subscriptions.
Community members need to be allowed to tell their own stories, and be incentivised for this engagement
Sell experiences, not products
Innovation is a word that gets thrown about like confetti but the reality is it is no longer some abstract concept, but a business necessity. When sponsors and advertisers look at the potential of partnering with your organisation, they’re looking for uniqueness and value. If you have nothing better than banner and pre-roll advertising to offer, don’t expect advertisers to break down your door.
The reason? Pre-roll advertising is passive – it required no action or engagement – and doesn’t give the user the power to decide how and when to consume the message. Simply put, it’s not effective.
If you have nothing better than banner and pre-roll advertising to offer, don’t expect advertisers to break down your door
Augmented reality on the other hand is a collaborative exchange between the advertiser and consumer that asks the user to take action; it’s an exciting, sensory experience that can lead to an emotional reaction – meaning higher levels of engagement and brand recall.
Technology trends, like augmented reality, are changing the way brands connect with consumers and provide an opportunity for your advertisers/sponsors to better position themselves with your community.
Integrating new technology like AR into your digital content strategy will bring with it an inevitable teething period, but can be overcome through a partnership-based approach. Let your advertisers know you want to work with them for the long term to ensure they connect with your audience meaningfully – by providing a platform that creates unforgettable interactions.
Connect with us to find out how the Publisher’s Toolbox suite of products and platforms can help your organisation monetise your digital content more effectively.