Bandwagon Bandwidth: Should Every Company Be a Media Company?
Future Commerce
· with Tommy Walker
· July 28, 2023
· 52 min
Summary
This episode debunks the myth that "every company is a media company," revealing the significant pitfalls and resource drains associated with this ideology. It provides a nuanced perspective on content creation, distinguishing effective marketing from true media production, and offers strategies for brands to engage audiences effectively without diverting from their core business.
Key takeaways
Recognize that creating media as a core business is fundamentally different from using content for marketing; true media companies aggregate attention as their primary product, where for most brands, content supports a different primary product.
Before investing heavily in media production, honestly assess the required resources (time, talent, capital) and ensure it aligns with your core business objectives, rather than becoming a distraction.
Focus on developing niche expertise and producing high-quality, targeted content that resonates with your specific audience, rather than attempting broad appeal which can dilute efforts and offer poor ROI.
Understand that measuring content ROI goes beyond vanity metrics; link content efforts to business goals like lead generation, customer education, or brand awareness, not just 'eyeballs.'
Leverage owned media channels strategically and build direct audience relationships to mitigate platform dependence and ensure long-term audience engagement.
"In the future, every company is a media company." That’s hogwash, according to Tommy Walker. Tommy is all too familiar with this ideology and the pitfalls in the business of creating media and aggregating attention.
Listen in to hear this insightful discussion and join the conversation.
Frequently asked about this episode
What does this episode say about brand & content?
Recognize that creating media as a core business is fundamentally different from using content for marketing; true media companies aggregate attention as their primary product, where for most brands, content supports a different primary product.
What does this episode say about dtc strategy?
Before investing heavily in media production, honestly assess the required resources (time, talent, capital) and ensure it aligns with your core business objectives, rather than becoming a distraction.
What does this episode say about finance & fundraising?
Focus on developing niche expertise and producing high-quality, targeted content that resonates with your specific audience, rather than attempting broad appeal which can dilute efforts and offer poor ROI.
What does this episode say about brand & content?
Understand that measuring content ROI goes beyond vanity metrics; link content efforts to business goals like lead generation, customer education, or brand awareness, not just 'eyeballs.'
What does this episode say about brand & content?
Leverage owned media channels strategically and build direct audience relationships to mitigate platform dependence and ensure long-term audience engagement.
