In case you hadn’t noticed, technology is advancing at an amazingly fast rate: devices are getting more advanced, customers can easily pay for content thanks to payment providers and digital transactions, competition in digital advertising is rising, and high-quality content is simpler to produce than ever before. All these have paved the way for new content business models. In this article, we will look at how businesses can keep up and remain present by leveraging the evolving social media climate.
Is there still room for B2B content monetization?
The answer is yes and no. Because there are many possibilities and business models that can be borrowed from B2C marketing as B2B marketing shifts to become more customer centric. However, there is room for improvement in monetizing B2B content, and how you go about doing so will depend on the marketing plan you employ for your company. Nevertheless, it can be achieved but before we tell you how you must first grasp the mindset of modern customers.
These days, people prefer to do business with, work for, invest in, and hang out with those who are similar to themselves morally. A consumer is seven times more likely to make a purchase from a highly regarded brand, as reported by the 2021 Edelman Confidence Barometer. This is because 88% of consumers surveyed believe that trust in a brand is more important than love for the brand.
Therefore, your content business model should focus less on monetization and more on attracting and retaining customers who want to know about your product or services. Implementing this model, would not only educate your target audience but when done successfully, will develop them into long-term customers.
One of the benefits of social media is that it has evolved into a content distribution network, rather than merely a social channel for interacting with others. As a result, businesses can promote their authenticity and values, resulting in increased interest in working with them, purchasing their products, or forming partnerships with them.
Content business plan
Ultimately, social media monetization comes down to giving your most engaged and motivated followers the chance to learn and grow together around a specific topic. The topic could be your product or services, but it should be engaging and bring awareness to your brand.
What could that look like? For a start, you can use LinkedIn Creator mode. Members who consistently post content in LinkedIn’s Creator mode demonstrate knowledge, spark conversations about ideas and experiences, and create communities based on shared interests. This feature allows LinkedIn users to grow their following, establish their voice, get discovered, and grow their audience.
Key individuals or leaders at companies, for instance, can use the LinkedIn Creator mode to expand and monetize their followings by establishing themselves as thought leaders on important topics and directing their followers to webinars hosted by the businesses.
There are 3 primary considerations that should guide your new content monetization strategy.
1: Quality of content
Customers should feel like they got their money’s worth if they paid for your content. Quality content is essential for any content monetization plan.
2: Alignment of goals
See to it that your content goals fit in with your overarching business objectives. For instance, if a company wants to make money off its content, it should focus on paywalls or exclusive memberships.
3: Customer experience
What kind of content and interactions do people in your target demographic prefer to see? Just where do they go to get their information from? What can you do to guide them? The more interested your customers are in what you have to say, the more money you may expect to receive from them.
Convergence Concepts has a team ready to help with any content needs a business may have. Reach out to us at firstname.lastname@example.org if you need assistance turning your company’s marketing content into a revenue stream but lack the in-house resources to do so.