Put more simply… EC = MC.
Have you wondered what it really means? To us, it’s not just another glossy marketing slogan. We see content as an essential element that every business needs in order to build and engage audiences and convert them to customers. So let’s take a minute and look at your business as a media company.
Traditional media companies are in business of making money by 1) building an audience through the use of content, and 2) selling advertising to reach that audience. Magazines, websites, TV networks, radio are all media companies. Their commodity is information, and the quality of that information is usually the measure of how successful they are. From the advertiser’s perspective, their commodity is attention and the opportunity to engage.
So why not build your own audience and opportunity to engage? The Internet makes this very possible today for any sized business.
You might be selling potted plants, Caribbean vacation packages, or professional services. But what makes someone who sells goods or services a media company?
There’s probably a sign with your company name and logo outside your offices. Chances are, you have a website and might even be listed in the phone book (although these days that’s not a given). You have phone lines, send out emails, letters, create brochures, probably put together PowerPoint presentations, and are most likely engaged with some kind of advertising and marketing efforts.
In other words, if you have customers, or want to get new ones, you need to talk to them (your audience). And to reach them, you need content and a platform for them to engage with the content. From a Facebook Page to your company brochure, it’s all content. Just as with a person listening to the radio, the person reading the whitepaper they just downloaded from your website is attracted by and engaged with content. And with an engaged audience, you have the opportunity to convert them to customers.
The better the content you put out as a company – in all shapes and forms – the more likely you are to be successful. Just like content of a magazine needs to be fresh and engaging in order to sell it, you need to put out content that’s interesting, appealing and relevant in order to generate demand for and sell your business to new customers and retain the existing ones.
For years, businesses have been paying other companies to build audiences and create opportunities to engage them, but now… you can do it yourself! And in doing so, your marketing expense has a residual effect — it builds “audience equity” that you own and control. Now that is something your CFO can appreciate.
That’s why we say that every company is a media company, or said another way, every business is a media company. Learn more about content marketing and how Accendo Digital can help you become a great media company…
Related: What is Content Marketing?