How do you monetise your content?

04 June 2010

This is a question I've been wrestling with for a while. I've been discovering with the help of a good friend that there is a huge growing industry in the US of companies putting together "how to guides" for everything from making money to finding the right relationships with just a PC and internet connection and making millions.

There are plenty of people that don't understand this social media phenomenon and I reckon there is probably more money to be made in educating people about it than actually doing it. As the growth in ebooks rises steadily this is the start of a whole new industry.

My challenge this week has been to approve all the branding and finish the web mock ups for the new marketing business. I'm learning about focusing on the pain points as I wrestle with my marketing copy and remember that it's not about how many years experience you have but the customer issue you can solve and the benefits you can offer to them.

What I've discovered is that social media is about earning your customer endorsement hence the new term "earned media" arising from the recent research that Nielsen have been doing with over 500,000 Facebook users. What they discovered was that ads endorsed by Facebook fans improved awareness by up to 16per cent and also improved purchase intention. These are metrics that marketers are keen to get their hands on to prove that diverting spend into this medium has an upside.

My view is that there is much more to measure and it's still one brave new world. Many FMCG players have opted not to dip their toe in the water and are being wooed by their marketing agencies to stay with TV & radio but if more research proves the brand building benefits of social media I can see a future big shift in spend.
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