Any way you measure it, it’s all about reach whether it’s paid, earned, owned, or shared media.
As brands and publishers rush to grab up as much land in the digital space as they can, it ultimately lands them in only two yards, Google and Facebook. This duopoly has become something that brands and publishers have to figure out and Justin Smith, CEO of Bloomberg Media, shared some of his thoughts on the subject of this duopoly. He warned publishers about rushing towards these platforms as the saviors of their business models and instead opted to differentiate in the space as opposed to embracing the race to feed the algorithm which reads as the modern-day race to the bottom.
His most insightful point is that content still holds value that can be leveraged by publishers. Traditionally we have seen publishers bending to the will of Google and Facebook but Smith argues that content is so vital to the modern digital landscape that these platforms will have to partner with publishers and brands going forward instead of rolling over them.
His final point is one we drive home with all of our clients: pick a platform that works for your brand, not the one that is most popular because they might not be one in the same. Bloomberg has found success on Twitter where some brands (which brands, news or business brands like Bloomberg?) might not share that view and may find success on Snapchat or LinkedIn. The point is that publishers and brands need to be particular about where they put their content and understand not only why they are posting there but to whom they are posting the content for.
Check out the rest of his presentation here.