The second of our video series explaining serial content strategies.
Here is a complete transcript of the video:
The Double-Value Curve
Last AmokTalk, we described the Long Tail and the things you need to think about with respect to your marketing strategies. With that as our foundation, let’s look at the data another way. Let’s change this axes from “downloads” to “value” – meaning the value that a particular piece of content means to an individual looking for that content.
And here’s how it works. When you first release your serial content, it may or not have any value to your customer. It depends on whether or not they need that particular information at that particular time. Let’s look at three scenarios:
First, we have a content-consumer who is looking for “timely” content. Perhaps they like trying new restaurants, and their favorite restaurant-blogger has just published a new review. In this case, the information is timely, and so the value to the content-consumer is high.
But what about another content-consumer, someone who has no persistent need for new restaurant reviews? In this case, when the review is fresh, it has no value to her. But then, at sometime in the future, let’s say that she’s looking for an opinion on that new restaurant that she just drove by. Well, at that Moment of Truth, this review will be very valuable to her.
And lastly, there’s is a hybrid example, formed by combining both scenarios. Let’s say that a content-consumer reads our restaurant review the day it’s released, but he does nothing more with the information than tucks it away into his memory. And then, at some time in the future, when his girlfriend talks about this restaurant that she just drove by on the way home from work, he remembers the review, and finds it for her. In this case, the review is valuable at two different points in it’s lifetime — forming what I like to call as the double-value curve.
Newspapers have built a revenue-stream around the double-value curve. Have you noticed that fresh content is free – yet if you need to go into their archives, you’ll need to pay for it? It brings up an interesting question. How come people will pay for information that used to be free? The answer’s simple, because the value of information is directly proportional to how much you need it at any given moment.
Now, I’m not saying to go out and create a pay-for-use model for your company’s serial content. But it’s important for you to remember that the value of your serial content has less to do with you and more to do with the immediate need of your customers. And by understanding the power of the double-value curve, you can build complete marketing strategies around it.
In the next AmokTalk, I’ll share some real world data with you that illustrate the power of combining the Long Tail with the Double-value curve.