If you’re a listener of my Content Inc. podcast (five minutes every Monday), you know that I’ve been struggling with a new concept.
I’ve been going down the rabbit hole with DAOs (Decentralized Autonomous Organizations), Social Tokens, Crypto and more. I’ve learned a lot. I’m also struggling with a number of issues.
In Web 2.0, the content creator could leverage multiple platforms, build an audience and monetize that audience. We did that fairly well at Content Marketing Institute and had a successful exit in 2016. Now, I’m starting to believe that this is a dated model.
I believe that first, it doesn’t have to be just the one creator, one founder, one CEO model. More and more I’m starting to believe that a collective approach to content may work better. I’m watching some of these DAOs, like the Bankless DAO, that aligns under the mission of, well, pretty much the end of banks. They tokenize and then people are compensated initially on their stake, like equity, and then ongoing through their work. So if someone takes on a certain role in the DAO, they can ultimately be an owner.
From the one to the collective. It’s possible to do this now with crypto.
And that leads to the second point, almost one in the same. But when a content entrepreneur builds an audience, the goal is to generate revenue, right? Build a business? Of course. But can that be done while at the same time helping your audience drive revenue? I think so.
I know it doesn’t seem like much, but this is a huge concept. Think of a media company like The New York Times creating and distributing content, while at the same time the readers of that publication generate money or retain some kind of ownership in the New York Times for being part of that community.
When I look at the Content Inc. model and the 10 different ways to drive revenue, I’m thinking…hmm…conferences and events, could the attendees own the event? Training…could the trainees own the training program? Products, could I buy a product and win some long-term value over and above what the product does?
The answer is probably yes and no…all I want to communicate today is that there is something here. This is actually a thing…and it’s moving fast.
If I had to choose right now, I think the best model would be for a creator or multiple creators to start the mission, and then slowly start to give that back to the community (the audience) over time. Seems to be the best of both worlds.
The next time you think about your audience and the value you are delivering, think about if you can help them financially as well as through the information you deliver. And then, let me know what you decided.
A Go-To-Market Framework
I’ve been a fan of Sangram Vajre ever since Robert Rose and I did a case study on his company, Terminus, for the book Killing Marketing. Sangram is one of those people that see the better way. He was doing content marketing before most and built an amazingly successful business.
His new book, called Move: The 4-Question Go-To-Market Framework, is an excellent one for understanding your audience (customer) and how to scale your business for growth. You can get it on Amazon now. And FYI, this is not a paid link. 😊
The Importance of Body Language
My oldest is taking a class on communications and talked to me about the importance of non-verbal communication (and shared a video with me).
When I was in college, I was told that 97 percent of meaning is derived not from verbal words, but non-verbal communication. Could it also be that your body language can shape who you are as a person?
If you get a chance, watch this 20-minute TED talk from Amy Cuddy. It’s a powerful video, and I believe, one filled with truth.
I’m a big fan of Jack Butcher, founder of Visualize Value and a case study in the latest version of Content Inc. He put together an amazing Tweet string I felt compelled to share.
Value = doing things that other people don’t do, won’t do or can’t do.
Service is a high-touch result generation (building experience), product is low-touch result generation (scaling experience).
In a world of infinite distraction, focus on the only path to freedom.
Sell time to buy experience, sell experience to buy time.
Use free time to build systems that free up time.
You can’t get good unless you get going.
Make media work for you. Write, record, design, edit once, publish twice.
Build once, sell twice.
And finally, in listening to the latest Prof G podcast (always a good listen) he talked incessantly about the importance of time. How we should be doing everything possible to free up time that gives us a chance to make an impact on ourselves or others.