In media, it used to be okay to follow the "Field of Dreams Voice" strategy- you know the voice in Kevin Costner's head that told him, "If you Build It, They Will Come." This was actually named #39 on the list of Top 100 Movie Quotes: http://en.wikiquote.org/wiki/Field_of_Dreams#The_Voice
You can no longer afford to "build" media content, and hope "they will come". Now that consumers and online audiences can choose exactly what they look at, when, and in what medium- marketers and media companies are forced to adapt and follow the audience around. Quite different from the build it and hope they come approach of yesteryear.
The game is interaction and engagement: How can media- be it broadcast, print, B2B or digital- help their advertising clients move from simply being noticed by their audience, to actually being of use to their audience?
As audiences consumer media in ever-changing ways, media executive will need to think differently. Digital, emerging, and online media now "drive the bus", and decision-makers need to think as interactive media entities rather than as print or broadcast entities with online extensions. Here are the first steps:
1- Customized, unique sponsorship and ad packages are needed, whether in print, broadcast, or online. The media executives who charge their salesforces and content leaders with the flexibility and resources to launch, deliver, and execute unique new sponsorship ideas that drive user-interaction will win big.
2- In print media, the title of Chief Editor should be abolished, in favor of Content Director- a leader who is strategically thinking of new ways to deliver the best content to his/her audience segment, whether that's in print, flat content online, streaming video, or online community applications and user-generated topics.
3- Also in print, the title of Publisher should likewise be abolished, in favor of Revenue Director- a leader who sells consultatively (really), is a creative and strategic sales thinker, and who is on-top of all aspects of print, online and emerging trends.
4- The title of Circulation Director should be transitioned to Audience Director- an executive who understands all aspects of their audience including understanding cross-over from print and/or broadcast to digital media, online usage habits, and leveraging behavioral marketing to drive new content ideas and leverage new revenue categories.
5- The senior-level executives who manage media companies from the C-Level need to cultivate real and consistent communication within their organizations to drive innovation, have forward-thinking financial pros on staff, and be careful but diligent in driving partnerships and acquisitions.
Sounds easy, right? At the pace of media change in our industry now, thinking differently about delivering content to audiences and monitizing the ability to get users to read, interact, and act on advertiser's messages is the end-game. Not an easy task, but one with large rewards to those media companies- and the executives who lead them- who figure it out.
