Social business in the media industry - Danske Medier November 2012

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These slides are from the Danish Media Seminar in Copenhagen. I examined strategic and commercial opportunities in the market and gave two different presentations described below. …

These slides are from the Danish Media Seminar in Copenhagen. I examined strategic and commercial opportunities in the market and gave two different presentations described below.

How Publishers Use Social Media to Drive Revenue
Many businesses have embraced content marketing, but what about the business of content? In a world where more and more content is free, how can sellers of content survive or even thrive? Publishers who offer top-quality content hold the key to success in social media and search, through traditional advertising as well as newer models, such as content syndication and custom content.

How Search and Social Need Each Other
If you've been focusing on search marketing, congratulations. If you've been making efforts in social media marketing, nice job. But if you haven't been working on both together, you're missing out. You can no longer succeed in search without social media, and your social media marketing will fall short unless you keep search in mind. Find out what you need to do to optimize search and social together and find out how Facebook and other social properties use search to decide what content users see.

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  • 1. Mike MoranHow Publishers Use Social Media to DriveRevenueDanske MedierNovember 2, 2012www.mikemoran.com © 2012 Mike Moran
  • 2. Mike MoranTraditional revenue sources are drying up  Newspapers have lost classifieds to Craig’s List  Trade magazines compete with free content from their former advertisers2 © 2012 Mike Moran © 2008 Mike
  • 3. Mike MoranOnline consumers tend not to pay for any model  Subscription or paywall: Readers subscribe to content for a monthly or annual fee  Freemium: Some content free with premium content by subscription  Metered: Content is free up to a point, such as number of articles viewed  Transactional: Individual downloads of content, such as songs or reports3 © 2012 Mike Moran © 2008 Mike
  • 4. Mike MoranBut wait! Some models work, right?  It’s not that they never work, but they rarely do  Even successes aren’t as successful as people think  The Wall Street Journal online subscribers are worth just ¼ of offline subscribers4 © 2012 Mike Moran © 2008 Mike
  • 5. Mike MoranIf you have deep, marketable content…  …turn it into applications and experiences  Understand what your customers’ problems are5 © 2012 Mike Moran © 2008 Mike
  • 6. Mike MoranThe freemium model works for deep content  Platts gives away low-value information to attract attention in search and social media  They charge for the deep content that industry analysts need to do their jobs6 © 2012 Mike Moran © 2008 Mike
  • 7. Mike MoranAggregation is also under attack  Is your data proprietary?  If not, eventually you are in trouble7 © 2012 Mike Moran © 2008 Mike
  • 8. Mike MoranCrowdsourcing also attacks some sectors  Some publishers don’t have deep enough content  It’s hard to protect things people will create for free8 © 2012 Mike Moran © 2008 Mike
  • 9. Mike MoranMany publishers don’t have unique content  If you are running wire stories, it is now a commodity  You had a distribution business, not a content business  The first lesson: You must be in the content business because distribution is free9 © 2012 Mike Moran © 2008 Mike
  • 10. Mike MoranEven more important, advertising is under attack  Advertising does still work  But display ads are among the worst way to spend online ad budgets  And no one knows how to monetize mobile ads10 © 2012 Mike Moran © 2008 Mike
  • 11. Mike MoranEven Google’s growth is under attack11 © 2012 Mike Moran © 2008 Mike
  • 12. Mike MoranAdvertising doesn’t work as well online  But instead of lamenting the effect on you..  ...think about what this means to advertisers  What are they doing instead?  Marketers have become publishers12 © 2012 Mike Moran © 2008 Mike
  • 13. Mike MoranKraft’s iFood Assistant helps you make dinner  Search for recipe ideas  Not just at home, but in the store while you are shopping  Kraft products highlighted13 © 2012 Mike Moran © 2008 Mike
  • 14. Mike MoranScott’s personalized lawn care advice  Customer discloses zip code and grass type  Scotts provides tips for lawn care, including the right products to use based on actual weather conditions14 © 2012 Mike Moran © 2008 Mike
  • 15. Mike MoranJohnson & Johnson’s Baby Center15 © 2012 Mike Moran © 2008 Mike
  • 16. Mike MoranPharmaceutical companies explain diseases16 © 2012 Mike Moran © 2008 Mike
  • 17. Mike MoranPublishers must solve their clients’ problems  The old problem: How can I advertise to customers?  The new problem: How can I use content for marketing?17 © 2012 Mike Moran © 2008 Mike
  • 18. Mike MoranThe new buzzword: Content Marketing  Provide quality content  Sell lots of stuff  It sounds simple, but it offers marketers a new set of problems18 © 2012 Mike Moran © 2008 Mike
  • 19. Mike MoranTwo ways that content marketing works  Search  Social19 © 2012 Mike Moran © 2008 Mike
  • 20. Mike MoranWhat is high quality content?  How to solve a problem Marketers must think like  A new use for your product publishers  A case study for a client  It’s not about advertisers—it is about their customers20 © 2012 Mike Moran © 2008 Mike
  • 21. Mike MoranMarketers have never had to provide content  Public relations people did some of this work  Marketers never did any of it  It’s hard!21 © 2012 Mike Moran © 2008 Mike
  • 22. Mike MoranIt’s even worse for B2B marketers  They never had any marketing!  They had products and services, and they had sales, but no marketing at all22 © 2012 Mike Moran © 2008 Mike
  • 23. Mike MoranWhere do marketers get all this content?  Many are not doing it at all  Many are trying to do it themselves  Do you smell an opportunity?23 © 2012 Mike Moran © 2008 Mike
  • 24. Mike MoranOpportunity 1: Syndication  License your content to marketers and use your name for its credibility  The Associated Press syndicates content to newspapers but also many online sources24 © 2012 Mike Moran © 2008 Mike
  • 25. Mike MoranOpportunity 2: Custom content  Publishers create content for marketers without attribution  A tech magazine publisher now writes hundreds of white papers each month for high-tech companies25 © 2012 Mike Moran © 2008 Mike
  • 26. Mike MoranWhy would marketers want to work with you?  You have reach to audiences offline and in social  You might be underestimating what you know:  Knowing what readers are interested in  Recruiting experts who know the subjects  Executing editorial calendars  Controlling quality—especially plagiarism  Licensing content, including permissions26 © 2012 Mike Moran © 2008 Mike
  • 27. Mike MoranWhat weaknesses must you shore up?  You aren’t experts in marketing strategy  You might want to ally with agencies that have similar problems  They know how to do marketing  But they have been dependent on advertising  They do not know how to do content27 © 2012 Mike Moran © 2008 Mike
  • 28. Mike MoranThank you!www.converseon.com 28 © 2012 Mike Moran © 2008 Mike
  • 29. Mike MoranSearch and Social Need Each OtherDanske MedierNovember 2, 2012www.mikemoran.com © 2012 Mike Moran
  • 30. Mike MoranThe new buzzword: Content Marketing  Provide quality content  Sell lots of stuff  But how do you do it?30 © 2012 Mike Moran © 2008 Mike
  • 31. Mike MoranContent marketing uses the buying cycle  Answer “research Search questions” with informational content Learn Use  Respond to product queries Shop with comparisons Get Buy  Provide detailed model and product pages for buyers31 © 2012 Mike Moran © 2008 Mike
  • 32. Mike MoranSearch keywords tip off the step in the cycle You need bite-sized Search chunks of content Learn • Learn baldness remedy Use • Shop rogaine Shop • Buy rogaine coupons Get • Get rogaine shipping Buy • Use rogaine side effects32 © 2012 Mike Moran © 2008 Mike
  • 33. Mike MoranHow do folks find your brilliant content marketing?  When you launch your content, it’s all social:  Blog about it  Tweet it  Share it everywhere you can  That lasts about three days—a week if you are lucky  After that, virtually all of your traffic comes from search33 © 2012 Mike Moran © 2008 Mike
  • 34. Mike MoranSearch and social must work together  Search makes social better  If no one sees your social media, it doesn’t matter  Most blogs and videos are seen only because of search  Social makes search better  More search results  Better search rankings34 © 2012 Mike Moran © 2008 Mike
  • 35. Mike MoranWhat is high quality content?  How to solve a problem Marketers must think like  A new use for your product publishers  A case study for a client  It’s not about advertisers—it is about their customers But how do Facebook and Google know it is quality content?35 © 2012 Mike Moran © 2008 Mike
  • 36. Mike MoranDo you want to be in Facebook’s newsfeed?36 © 2012 Mike Moran © 2008 Mike
  • 37. Mike MoranFacebook uses a content algorithm for newsfeeds  The EdgeRank algorithm decides what shows up in news feeds based on:  Connection: tighter connections are better  Importance: more important updates are better  Time: newer updates are better  Brands have complained that it’s getting harder to get into fans’ newsfeeds37 © 2012 Mike Moran © 2008 Mike
  • 38. Mike MoranFacebook’s algorithm is a ranking algorithm  Just as with search, there are many more updates than can be displayed  Estimates are that there are 500 possibilities for every item displayed  Importance (“weight”) keeps changing, but engaging content seems to be the new key  Do ads help? Maybe38 © 2012 Mike Moran © 2008 Mike
  • 39. Mike MoranThe search ranking algorithm decides who’s first  Social does not affect paid search results  It helps decide the #1 organic result  Some will do anything 89% of clicks on page 139 © 2012 Mike Moran © 2008 Mike
  • 40. Mike MoranBlack Hat SEO experts fool everybody  They fool Google  They fool searchers  They are extremely smart and hardworking  If it works for you, good luck40 © 2012 Mike Moran © 2008 Mike
  • 41. Mike MoranSome people reverse engineer the algorithm  Google wants the keywords on the page  Google wants the keywords in the title  Google wants links to the site What Google really wants is high quality search results for the searchers41 © 2012 Mike Moran © 2008 Mike
  • 42. Mike MoranHow does Google decide what quality is?  Quality links  Social activity  Human ratings42 © 2012 Mike Moran © 2008 Mike
  • 43. Mike MoranWhy do search engines care about links?  They are votes for quality  They mimic citations in scientific research papers  The best papers have the most citations Velychko/shutterstock.com43 © 2012 Mike Moran © 2008 Mike
  • 44. Mike MoranHow do search engines value links?  The most links PageRank is  From the best sites Google’s name for its page factor  With the right anchor text ranking44 © 2012 Mike Moran © 2008 Mike
  • 45. Mike MoranSocial activity is now affecting search rankings  Bing has a deal with Facebook to rank results based on what your friends like  Google downgrades sites with bad reviews  Social media activity is becoming, like links, a marker for quality content  If you aren’t doing social for its own intrinsic value, you need to think about its impact on organic search45 © 2012 Mike Moran © 2008 Mike
  • 46. Mike MoranIf social activity doesn’t match link analysis…  …it seems more suspicious to Google as spam  It’s difficult for spammers to simulate both46 © 2012 Mike Moran © 2008 Mike
  • 47. Mike MoranGoogle Plus and other social activity counts Use social cues as markers of quality.47 © 2012 Mike Moran © 2008 Mike
  • 48. Mike MoranAnd some content has nothing better  The views are the best indicator of video quality  Links to videos are not as strong48 © 2012 Mike Moran © 2008 Mike
  • 49. Mike MoranHow do search marketers cope?  You must think beyond text  But new media still needs text: Good titles and good descriptions  And it attracts links49 © 2012 Mike Moran © 2008 Mike
  • 50. Mike MoranOptimize your social media for search Get Pages  Ping your blog posts, open up Indexed message boards Choose  Use keyword tools (such as Keywords Google’s) so you use the best words  Use those keywords in your titles Optimize and throughout your content, but Content write naturally Attract  Publicize your content so others will Links share and link50 © 2012 Mike Moran © 2008 Mike
  • 51. Mike MoranHow else does Google know quality from spam? Human raters doublecheck page quality.51 © 2012 Mike Moran © 2008 Mike
  • 52. Mike MoranGoogle added a new factor to the ranking algorithm  Human beings rate a small subset of search results:  Nice design?  Speedy response?  Quality content?  Would you return?  Sites that people like get bumped higher in ranking  The sites they don’t like are shoved down52 © 2012 Mike Moran © 2008 Mike
  • 53. Mike MoranMachine learning scales the human ratings  Even Google can’t afford human ratings for every page for every search  So, it looks for patterns—common features  If your site looks like the low-rated sites, your site gets ranked lower53 © 2012 Mike Moran © 2008 Mike
  • 54. Mike MoranWhat does it mean to “look like” low quality?  Machine learning detects patterns in what pages look like based on “features”  What could the features be?  The length of the title tag  The ratio of words to pictures  The commonality of runs of words54 © 2012 Mike Moran © 2008 Mike
  • 55. Mike MoranIt’s not just about spamming  Most of you don’t practice real You black hat SEO  But you don’t win by examining the terms of service like a legal document  You see what works for all three parties Google Searchers55 © 2012 Mike Moran © 2008 Mike
  • 56. Mike MoranThat wasn’t just bad luck  Tactics that help You everyone get rewarded  Tactics that help only you don’t  Maybe you should stick to what will work long-term Google Searchers56 © 2012 Mike Moran © 2008 Mike
  • 57. Mike MoranBut wait! Does this sound familiar?  Facebook wants high You quality content in your newsfeed  Content that people like will appear in more newsfeeds  Engagement shows quality Facebook Users57 © 2012 Mike Moran © 2008 Mike
  • 58. Mike MoranDon’t be a good scout. Be good at business.  You’re not trying out for You sainthood  Do it because it works  It’s less risky, easier to do, and has fewer ups and downs  Focus on a quality content, and success will follow Google Searchers Facebook58 © 2012 Mike Moran © 2008 Mike
  • 59. Mike MoranThank you!www.converseon.com 59 © 2012 Mike Moran © 2008 Mike