Edo Segal has an interesting guest blog at TechCrunch describing the “Future of Media.”
He points to Apple’s App Store as an example of what the rest need to learn:
The only way to block the incredible ease of pirating any content a
media company can generate is to couple said experiences with
extensions that live in the cloud and enhance that experience for
consumers. Not just for some fancy DRM but for real value creation.
They must begin to create a product that is not simply a static digital
file that can be easily copied and distributed, but rather view media
as a dynamic “application” with extensions via the web. This howl is
the future evolution of the media industry. It has arrived from a
company that is delivering the goods. Apple has made it painless for
consumers to spend money and get the media they want where they want
it, proving that consumers are happy to pay for media if delivered in
ways that make it easy and blissful to consume.
He also states, rather matter of factly, that “he premise of extending the media experience to the cloud is a core
necessity for the survival and growth of the media industry.” I agree. The media industry needs to “sell access and experiences, not media files.”
So how does an artist or a media company build these experiences?
I’ve been doing some thinking along these lines for a band I’ve followed for many years - Steel Pulse. What’s interesting is that while the band has a huge, global, cross-generational following built over the past 35 years - the media companies that were responsible for promoting them have done absolutely nothing to tap into this enthusiasm. Not one thing.
The same goes for most of my business thought-leader clients as well. The publishing houses do nothing to create a conversation with the passionate fans.
Engagement is the key. How does a musician or an author engage with their audience, their fan-base? It starts with the quality of the conversation. And let me tell you, it’s far easier for an individual thought-leader or musician to do this than companies, largely because companies are too formal, too corporate, and don’t usually communicate with a human voice.
What’s needed is a way to go direct.
Let the celebrity or thought-leader engage with their fans directly to build an attention platform, unique to the celebrity. The company that empowers this attention platform, and builds new services for the fans, will build the next media empire with the “lock-in” that comes with authentic engagement.
Of course, none of this works without authenticity. The celebrity must remain true to themselves. In Steel Pulse’s case, this means they need to stick to their core brand dimensions. So each successive album, each song, each product, each statement, builds on the Steel Pulse Experience.
They could even track the core messages of a successful album - in this case “True Democracy” - and extend their meaning in new songs and releases:
So now let’s talk engagement, and I’ll break it into two simple phases - push and pull (borrowed from JSB and JH3).
Phase One: PUSH
So what does the celebrity do today? In Britney Spears
’ case, she’s
tweeting her launch of a new song. To me that’s not much of anything.
Yes, she’s reaching out through social media -Twitter, Facebook, and MySpace - but these are all still one way marketing pitches - push media.
The artist pushes their songs, their products, their newsletter, their tweets, etc. etc. No discussion, no give and take. Products are created and sold. One market, one size fits all. Core fans are treated the same as newbies. Nothing special except the show and the products - media files: audio or video. See what I’m getting at?
All of this is still just pushing product.
Phase Two: PULL
What happens if the fans come to you - with their suggestions, requests, and insights? What happens when they want to participate? Is it possible to co-create products and services based on insights from yoru fans? Of course it is.
Start the conversation. Go 80/20: focus on the 20% of fans that will get you 80% of your profits. Start talking (and listening) to your biggest supporters.
Engage: physically meet the 20%. Create special events for them. In soccer for example, fans pay $30-50 dollars just to watch Cristiano Ronaldo practice. What’s wrong with doing a 30 minute sound check for your fans? Invite them to the sound check - and have exclusive “sound check products” available only for these fans - available at the event, and online as well. You could even have a question and answer session that they get to download later that evening.
Then of course you sell the live version of the show - for a “limited time only.” Vary the show slightly with the song set, so every night is a different.
Let your fans download the raw tracks and make their own mixes. Have a contest for the best mixes. Sell the mixes to other fans. Use them in your album.
And when you create a new album, it’s version-time. Reggae music has a long history of selling versions. What’s sad is they’ve stopped this traditional practice when really they need to be exploiting it. (See Hal Varian on versioning.) So every song should have the following versions: album version, extended version, dub version, accapella version, acoustic version, dance version, Nyabinghi version, etc. etc.
Talk to the fans about the songs through webcasts, band-calls. Let then know where and what’s next. Let them vote on what you should do next.
For legacy songs, make sure you sell versions-in-time. The 1983 version of Chant a Psalm a Day is quite different from the 2000 version, which again is totally different from the 2009 version. Real fans want them all.
All of this is do-able today. It’s not about technology, it’s about attitude, and the ability to communicate, to lead. For a cause-driven band like Steel Pulse, this is their opportunity to shine.
And let your fans share in creating and spreading your experience.
Now let’s take a quick look at the business world.
VG, as he’s called affectionately, is an author and well known strategist. His latest article in the Harvard Business Review, co-authored with Jeffery Immelt and Chris Trimble, has been a huge success - introducing the world to a concept called reverse innovation.
What we’re doing now is building his engagement strategy - through his innovation newsletter. The idea is to start a conversation about innovation with the people most interested in this topic.
A small step to start, but I know from experience that a “simple” newsletter can drive over 50% of monthly sales online.
The great news is anyone can build an attention platform like this. And if you have something important to say, your platform will bring you the attention you deserve.
It may even elect you President!
As I was finishing up on this, I just saw a tweet from John Hagel on author platforms (read here). Again, if Apple can help an author or musician build that platform, then Apple will “lock-in” that artist for life. Same goes for Amazon.com. The distribution model for media is changed forever, period.