Content marketing is perhaps the newest widely-recognized trend in the world of digital media. This past September, the recently formed Content Marketing Institute held its first Content Marketing World conference in Cleveland, Ohio. Over 50 Internet marketing giants, including Brian Clark, Michael Stelzner, and Mack Collier, assembled to present the latest and greatest ideas on the subject. Clearly, there must be something to this content marketing thing.
As I discuss the ideas of content marketing with my peers and customers, I am met with a host of objections. People are not only hesitant to adopt the model; they seem to have difficulty in understanding it.
To alleviate some of the doubts and concerns about content marketing, I have jotted down some impressions I’ve gotten from people in my own life. Content marketing isn’t what many people think it is. It is the next big thing in business… and it is here to stay.
One misconception is that content marketing is about technology. It isn’t. Technology merely makes it easier and more cost-effective. Content marketing has existed as long as brochures, samples, and free seminars have. The Internet has merely converted those things into websites, giveaways, and webinars. Content marketing is not a technological idea, but a philosophical one. It is essentially the notion that, if you give away valuable information, potential customers will see you as a valuable resource (thought leader) and, eventually, buy from you.
Blogging is perhaps the most primitive form of content marketing on the web, but it is not all there is to content marketing. Saying you are doing content marketing because you have a blog is like saying you’ve tasted the world of fruit because you’ve had an apple. Blogging, though perhaps the most effective and most widely-recognized manifestation, is not all there is to content marketing. There is video, webinars, eBooks, podcasts, white papers, the list goes on. Distributing content, regardless of the format, is content marketing.
Social media (or social networking to those not in the Internet business) can and should include content marketing. But social media isn’t just about sharing information; it’s about dialogue and interaction. In fact, for most users, being inundated with information on social media platforms is a major turn-off. For the most part, things are posted on social media not to be read or watched, but to be discussed. If content is posted on social media, make sure it elicits dialogue.
Many on the receiving end think of spam when they hear the phrase content marketing. “Spam,” in a nutshell, is an unwanted solicitation for something typically from someone you don’t know. Content marketing is not spam, because it doesn’t ask for anything. It is sharing; not soliciting. Many people will watch “how-to” videos on YouTube or read blog post on, for example, nutrition, without even realizing they are being marketed to. That’s content marketing. It’s valuable information with no strings attached.
It’s too new. Too uncertain. We’ll do TV adds, radio ads, magazine adds. These have a longer track record. Heck, we’ll even pay for a banner or pop-up on the web. At least, with those things, people know we want them to buy something. This seems to be the prevailing idea: that content marketing isn’t “real” marketing. But content marketing marketing isn’t philanthropy. It is about building trust with potential customers and, though the buying cycle may be longer than traditional marketing, the results will likely lead to deeper engagement and more loyal customers.
Okay, this isn’t necessarily a misconception. Content marketing is, I believe, the future of advertising. I do want to point out how it is different from traditional advertising, though. Traditional advertising makes promises of value and relies on persuasive rhetoric or psychological ploys to trigger a purchase. Content marketing offers demonstrations of value and relies on proof to trigger a purchase. With content marketing, people first buy into a product and then actually buy it.
Starting a blog is free…or is it? How much time does it take to write consistent, high-caliber content for a specified audience. A lot! And, again, blogging isn’t all there is. It’s a neat little trick to ask someone what they think the number two search engine is and hear responses like “Yahoo” and “Bing.” The reality is that the second place, other than Google, that people are most likely to search is YouTube. How much time (and possibly money) do you think it takes to consistently produce high-quality, engaging video? Content marketing IS rewarding, but it isn’t easy and it isn’t necessarily cheap.
One worry people have is that, if they give too much away for free, they won’t have anything left to make money off of. If you are a plumber and you teach people, through content marketing, how to fix their leaky pipes, they won’t need you anymore, right? Wrong! Most of them still won’t want to go through the trouble or take the time. They will simply see you as someone who knows how to fix stuff. Even the ones who do take your advice and fix the faucet themselves will seek you out when bigger problems arise. To put it simply, if you don’t have enough value built in to justify giving information away, you have more to worry about than your marketing.
Ah, the secret sauce argument! You don’t want competitors to find out what you’re doing, so you hide it from your customers. This too is not a marketing problem but a fundamental leadership and innovation problem. First, you are deluding yourself if you think you’re really that different from competitors. Your Mac Sauce is more than likely just another’s Thousand Island Dressing. You think that you’re hiding a greatly differentiated, proprietary secret, but you’re not. Secondly, by the time your competitors figure out what you’re doing, you should be already doing something new–something better. Customers follow market leaders–not copy cats. So don’t worry about the idea thieves.
People used this excuse for the longest time about social media, but now almost every major company has a Facebook page and Twitter account. I imagine the same thing will happen with content marketing. Saying you are too busy for it is absurd; it’s like saying your too busy to make money. Besides, much of the grunt work–from blogging syndication to video production to radio shows–can be outsourced. Your President doesn’t always have to be the one distributing content. Hire someone for content marketing–just like you would an ad agency for advertising.
Six words: “What’s the ROI of your mom?” Gary Vaynerchuck’s witty retort applies to content marketing as much as Social Media. Just because it isn’t easily measured doesn’t mean it doesn’t matter. There is a strong business case for content marketing and that alone should justify an initiative. Not every business decision is about the bottom line. What’s the ROI of your company’s logo? You don’t know, but it’s necessary to promote your brand. It’s the same with content marketing. Besides, ROI can be measured in content marketing using tracking tools such as Google Analytics. You can easily tell how many viewers are turned into subscribers and how many subscribers are turned into customers.
So, maybe you’re convinced that content marketing is a good idea. But, things are moving too quickly and you feel like you’ve missed the bus. Don’t listen to that line of reasoning. It’s never too late. It’s better late than never. Get started now. Don’t over think it. Your strategy will develop as you go along. Jump in. Go over to WordPress and start blogging. Make a video on YouTube. Do something. Your customers are waiting.
Please let us know your thoughts on content marketing in the comments below!
Featured image courtesy of Daphne Howe licensed via Creative Commons.
Doug Rice is the Small Business Storyteller, a writer who helps small business people develop content for web pages, blog posts, newsletters, white papers, and more. He is an avid reader, a coffee snob, and a lover of all things business and marketing. On his blog, Doug writes regularly on issues related to small business marketing.
I agree with your 12 tips....when is the next Content Marketing conference? Who can attend that conference?
@CatherineTatum I'm not sure the Content Marketing Institute (http://www.contentmarketinginstitute.com) hosted its first Content Marketing World last October. Check out the site for more info!
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"..Content marketing is, I believe, the future of advertising."
That's why we created http://publishedin.com AdFree network to help advertisers get their content, not ads, on many publisher's sites.
Content Marketing is the key differentiating factor to reach your target audience... While great content exists, it seldom reaches the right readers.. the missing link is INEFFECTIVE / NO MARKETING...
Do read my post on Success of a Blog @ http://nischalamurthy.wordpress.com/2011/10/25/46/
@nischala.murthy Thanks for the comment! Very nice post! Thanks for sharing it! Also, you bring up a great point: half of "content marketing" is the actual "marketing" of the content. If not sufficiently promoted, content is as useless as a stack of brochures in the closet. Great insight!
I have heard real estate agents tell me on more than one occasion that if they shared their knowledge (secret sauce) that her competitors would benefit. Thus by not marketing that info across the web, they end up missing out on a lot of business. I think it's the scarcity mentality. Heaven forbid any other agent benefit from their leadership and innovation.
@Brad Yzermans I think the tendency to want to hide competitive advantage is based on an outdated model of competitive behavior. Today, customer satisfaction is infinitely more important than competition. Consumers have a strong distaste for blatant competitive behavior. People respond negatively to attack ads in political campaigns, brand comparisons, etc. When brands berate one another, I think, customers are less likely to buy from either. When brands work in cooperation, I think they are more likely to buy from both.
More than that, though, the unhealthy emphasis on competition causes companies to view themselves as commodities. They don't see themselves as any different if they lose that one competitive edge. But you may have an incrementally different customer than your competition. We all help our customers in different ways. The question you shouldn't be asking isn't whether or not you're better than the competition but, rather, whether or not you can help a customer in a different way than your competition. You're spot on about the "scarcity" mentality. There's as much money to go around as there are needs to fill. Differentiation isn't so much about selling something "better" as it is about uncovering a different need.
Thanks for the comment!
Doug, this is such a great post with so many great points, I don’t know where to begin!
I have to admit, so many of the questions you address have been floating around in the back of my mind for some time now, but your responses have brought great clarity to them. Basically, the nugget you provide in #6 sums it up pretty well: you must achieve buy-in before you can expect others to buy.
@PaulBiedermann thanks, Paul! As I've entered into the space, I've found that content marketing is a tough sell. It takes a lot of work for such a long-term strategy and somewhat nebulous ROI. Nevertheless, it's certainly a necessary step to take in today's competitive and cluttered marketplace. Consumers are being bombarded with more messaging than ever before. The only way to capture attention is to give customers something they want (content) rather than giving them something they don't want that promotes something you think they might want. Getting customers to buy in will eventually be the only way to influence a purchase decision.
Excellent points throughout, Doug. It is definitely a philosophical transition to realize you need to "give away a little" to build a reputation as a thought leader. You then have to get over the fear of "my competitors will see what I am doing". I totally agree...competitors are all doing much of the same, so it is about building that mindshare and trust more efficiently and creatively than your competitors.
Then it becomes an art to know how to transition from the "free spigot" to the "paid spigot" to actually start making money vs giving in to the demands of more free stuff!
@dbvickery @dbvickery Thanks for the comment, Brian! Yeah, it can be hard to make that transition--especially if all you are offering is more content. However, if you are selling something tangible, you can gain a huge following and, eventually, large amounts of revenue just by providing free information and answering questions for potential customers. Just ask Marcus Sheridan!
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Hi Doug! I loved this overview, I think it really clarifies for people what they need to be doing, and I loved your point about not being afraid to leak your secret sauce. In the insurance industry, I come across many brokerages who fear collaboration, but I am going to agree with your approach, when a client comes to you, if you are truly good at what you do, especially to the point that people are going to want to copy you, then you should not live in fear. Collaboration is a great way to develop and evolve, i don't think idea sharing should ever be viewed as negative. It should be inspirational. Certainly we don't want people taking our content and using it word for word, but if someone else out there is learning from you, then isn't that a compliment?
We have to have confidence in ourselves, and our product offerings to believe that there is true value in our services. If we truly believe that, then the whole idea of someone stealing your ideas, methods, etc, is irrelevant.
We add value, lets show the world how we add value by using content marketing.
@Milaspage Thanks for the comment! Was it Einstein who said "imitation is the sincerest form of flattery?" I think this statement is profoundly true. I think that copyright infringement and idea theft is much harder to do these days because content is a lot easier to trace to its source. Write a blog post and you have an indexed time stamp that says you came up with those ideas first. Most content producers out there though, I think, are benevolent and always willing to give attribution. We all feed off of one another's ideas. Look at the greatest of thought leaders out there and you'll see them constantly giving recognition to others.
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