The Value of ContentAnnenberg G d t F llA b Graduate Fellowship P hi Program Micro-Seminar Mi S i Dana Chinn August 2011
• Introductions How will understanding the value of content help you in your studies?• Why content value is both device-based and device-agnostic• The blurring of content p g producers, distributors, device manufacturers , ,• How cloud storage options affect content value• Valuing audiences based on the intensity of interest in a topic and device ownership• Digital asset management• Using web analytics to understand content value
Do I know enough about you t sell you content? to ll t t?What I know for sure What I can infer guess g Gender Age ?
Limited ways to get contentled to advertising-dependent business models and thus, more free content) d th f t t) Publishers with display advertising Newspapers Magazines Radio TV Direct mail Yellow Pages Outdoor Advertisers made decisions based on little more than gender, age, education 5
More ways = more content = more discerning audiences = more info about audiences * Company site E-mail Video Buy ads on social media, too! 6*A “starting point” – doesn’t include search, lead generation, international, others. Ted Kawaja in paidContent.org, 9/28/10
People will pay for contentbased on their level of interest, , need
Unique content people want and/or need Solid understanding of d t di f the value of its print and digital regular rate: p products both $7.50/week together and separatelyHoles or brilliant pricing structure? Sunday print + All Digital A S d i Di i l Access: $7 50/ $7.50/week k All Digital Access: $8.75/week “Share access with a family member” y
Device-specific pricing requires you to decide where you’re going to get the NYT computer or mobile web-- Still doesn’t include e-readers!-- Those who would pay anythingto get NYT crosswords…do
Do you buy content because of the deviceor buy a device because of the content?Woke up to NPR/Morning Edition via KPCC on aradioListened to music on an iPod in the carListened to an alternative music stream onPandora on a PCWatched an episode of The Office on Tivo viaNetflix on a PC and on a TVPlayed Scrabble on an iPad and an iPhoneRead some articles in The Economist (don’tremember where)Posted on Facebook (don’t remember what wasused)
Every purchase, product and price change prompts an evaluation t l ti
Reallocate or increase the amount spent on content? t t t t?Buy a new iPad? Get a Nook to get g content I can’t get Continue with Hulu on a Kindle? Plus? Drop Netflix? Use the Amazon Cloud service in Switch to an Android phone? addition to Apple’s? Discontinue Tivo service? Switch from Dropbox to Apple Buy the sports package on Time storage? Google Warner Cable to get The Tennis storage? ? Channel? More important than cost? Lifetime, interest, usage, value, past experience
However,However you still get multiple ads ads… …you must get ads to help Hulu out!
Hulu/HuluPlus vs. Netflix: It’s th It’ the content t t Current episodes
But, available for free… Current season episodes (with ads) Additional features Community / social media i l di
Amazon has the most information aboutpeople’s content needs, wants – and b d t l ’ t t d t d budget Amazon sells -- Physical content -- Digital content -- Non-content -- Devices -- Cloud storage Service Convenience Some things it doesn’t know about me – yet music, movies, health, residence, travel, politics, religion, friends/family, other pets
Why do content producers ask useless questions such as“Will you pay for newspaper content?”The values you put on content varies widely by your devices andthe intensity of your interests, desires…not by gender, age, income, education Thus, your value to a content company varies equally widely Will not pay for NYT crosswords in print or online Person A P Will to pay $7.50 to get the NYT Sunday Style Also Person A section in print
Some factors other than topic that affect valuetext, video, photo, audio , ,p ,short vs. longused vs newlatest version vs. one that’s good enoughnewsentertainmentwork or school materialsrequired vs optionalcommodity vs. unique / value of brand vstrust in payment systemsconvenience itimelinessongoing vs. impulseaspirational vs. what you really read/watch
Search engine optimization has led to better digital asset managementhttp://www.clickz.com/clickz/column/2099911/leveraging-keyword-research-digital-asset-optimization by Ron Jones8/12/11
Is a site set up…….with navigation that uses termsthat appeal to your audience and help them find whatthey’re looking for? ….so you can track traffic by topic throughout so your site? 37
OnCentral believes that News & Politics stories are crucial toserving audiences who live and work in the Central Avenue area. How many News & Politics stores are produced each week? How much traffic do News & Politics stories get per week?
What is “news” and what is “politics?” How many political stories are there? What types of politics?How much traffic did political stories get the week of March 13?
Is each page coded in a way to get this information?
…unless each story is coded or classified.Does OnCentral have enoughlocal politics stories to builda Central Avenue audience?How many stories on localpolitics did it have the weekof March 13? What percent of pOnCentral’s content is aboutlocal politics?How much traffic did localpolitics stories get the week ofMarch 13?Does it have enoughmultimedia content on local Note: In Google Analytics usepolitics? unique page views as a proxy for visitsDoes it have stories from allareas of OnCentral?
Web analytics: Tools to help determine the value of content p and audiencesBehavioral research What people did when they came to your site, as captured by an action taken on a keyboard or mouseAttitudinal research What people say they did what they think and why as captured by surveys, focus groups, social media, usability studies 43
“So what?” metrics waste time,lead to analysis paralysis Our site has 5,000 monthly unique visitors. Last Tuesday that story got 20,000 page views. The average time spent on our site last week was 24 minutes. Our iPhone app was downloaded 10,000 times. We have 2,000 fans on our Facebook page 2 000 page. We have 5,000 Twitter followers. Measure only what’s meaningful and useful to make decisions 44
Each content product needs specific audience goals Is the product reaching and engaging its highest priority targeted audiences? t t d di ? Does it have the content it needs to oes t a e t e co te t t eeds reach its targeted audiences? 45
actionsWhat verbs indicate engagement? Visit Vi it , regularly l l Read/view content, a l R d/ i lotInteract,Interact often -- rate, print, vote, take a poll, click on an ad -- share, e-mail, comment, contribute 46
Audiences, actions, metrics differ by channel SITES SOCIAL MEDIA * Totals1. Who? How many? In target audience? ? ? ? ? ? ? ?2. No. f i i ?2 N of visits? How often? ? ? ? ? ? ? ?3. What did they see? ? ? ? ? ? ? ? Did they get want they wanted?4. Did they interact? y ? ? ? ? ? ? ? What did they do? How much? 47 * Different metrics, methodologies for each channel!