If content is king, then where is your domain? You are no longer just a brand — you're a media company.
As a brand guy I’m always searching for those intersections between big ideas and how those ideas connect people together — emotionally. Today’s social and digital shift presents new ways to study how we connect with brands in a world with so much information and so little time. I shared in a recent insight (Your Elevated Story) that Social media has become the ultimate equalizer…You’re no longer just selling a product or service, but you’re sharing your story.
Social media is quickly becoming the pulse of how we communicate in society. The exhausted hashtag has not only established movements, but it has helped create communities and drive conversations.
According to a 2017 study by Mediakix, an influencer marketing agency, they concluded that the average person will spend more than five years of their lives on social media. Social media came second only to watching television, but now with the increased integration of video content on platforms such as, Facebook, Twitter, and Instagram, one can make an argument that social media will soon become the new television — if it hasn’t already.
The need to be heard and seen on social media has created an influx of influencers. Follow me, i’ll follow back, has morphed into, follow me, so I can get paid. The more followers you have the more people you’re broadcasting to — transitioning your brand into a social communications channel.
Unfortunately we’re spending so much time on social media that many of us have fooled ourselves into believing that our profile page is our platform. NEWS FLASH! Your Twitter page is not your platform! Your Instagram page is not your platform, and so on.
How many times have you heard an athlete say they’re using their NBA or NFL platform to bring awareness to a cause, only to have that platform stripped from them as if they never had it? Ask Colin Kaepernick how his NFL platform is working out. Sure Kaepernick has continued to do amazing work in the community, but he was unable to control the narrative as an NFL player because he never owned the platform that he was using to share his story.
If you don’t own the platform then you don’t have a platform.
So where is this headed. Well, if it’s FREE then you’re the product. As we move deeper into artificial intelligence and machine learning, every moment of our day has the potential to be monetized. If we’ve learned anything from the data breaches at Facebook, Twitter, and Google — it’s safe to say that their platform’s aren’t being monetized. We are.
We have evolved into a content society. Just as oil and gas fueled the industrial revolution during the 1700s and 1800s — content is the fuel that powers today’s digital revolution. We are the content for Instagram, our cars are the content for Uber, and our homes have become Airbnb’s content. Sure they’ve convinced us that we have the opportunity to generate revenue from our cars or homes, but we have still limited ourselves to being only a consumer-based product than an actual producer.
The most powerful people in the world control the media. As you transition from a brand to a media company and you wish to operate in the c-suite of communications, you have to make sure that you are in command of your content and monetization.