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On this subject, here is an article about Storytelling: Today, the battle for media attention is brutal. Audiences are exposed to a tremendous amount of content and given an unprecedented number of ways to consume it. The shift from print publications and fixed-schedule television programming to online aggregators and on-demand content consumption has changed the game for every business. Your company must now master the art of storytelling — including creation and distribution.
Becoming a media organization isn’t the same as focusing on content marketing. In media companies, everyone is part of the content creation process. It’s a company-wide effort. Enterprise companies that focus on content marketing still often view content creation and distribution as a marketing priority only.
Why Storytelling Matters
The only way to build a strong brand is by winning your target audience’s attention. But your time-starved prospects only pay attention to things they care about. That means your corporate story must resonate with them. It also means you must cultivate the essential skill of storytelling.
Every organization is in the content creation and distribution business because stories are at the heart of content and experiences that attract, engage and convert. Consider this: Every company is now a software company because software has penetrated all aspects of our lives and reshaped our expectations. In the same way, every company is a media company because it’s the only way to be relevant in an attention-scarce world.
Success Hinges On The Power Duo Of Content And Distribution
It’s no longer enough to either produce great content or own a distribution channel. Companies must do both so they can respond quickly to changes in audience preferences. Build expertise in just one of these areas and you risk losing out to competitors with strong content creation DNA and a powerful distribution channel.
Even high-quality content needs to be delivered through channels that audiences prefer. Consider the fate of print publications. Print newspapers suffered a sharp decline in readership and ad revenue because they failed to recognize the decade-long shift of audiences from offline to online channels. While the quality of their content hadn’t necessarily changed, people’s preferences had. Newspapers were late to recognize this.
On the other hand, companies that built their businesses on large distribution channels are investing in content creation. Netflix first started as a distribution platform delivering Hollywood content on demand. However, it’s now aggressively investing in creating its own shows and movies. In fact, Netflix spent close to $7 billion in 2017producing original content.
Netflix is not the only company to recognize that a powerful distribution channel can be more profitable when coupled with proprietary content. Amazon will spend over $8 billion on content creation by 2022. Apple knows it can’t afford to fall behind. It plans to increase its annual budget for original content to $4 billion by 2022 to dress up iTunes. In the same vein, Google is stepping up spending on YouTube’s original content.
These technology giants have issued a dire warning to Hollywood industry and traditional cable networks. It would be wise for all businesses to take notice.
This lesson applies to SaaS companies too. They must learn how to tell stories through their content, package that content in multiple formats and distribute it through a growing number of channels and platforms. We should get comfortable with the idea of watching the Oracle or Salesforce channel. It could happen much sooner than we think. In fact, it’s already happening. Have you noticed the increase in video content on Linkedin?
Defining Corporate Storytelling
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