RonAmok!

The adventures of an analog engineer and digital storyteller who studies emerging networks and their impact on the great game of business.
Jan 28, 2008

The second of our video series explaining serial content strategies.

or Click Here

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.

Tags:

Filed under: Social Media

Comments

Dan Bricklin has an interesting take on the Long Tail entitled When the Long Tail Wags the Dog.

Dan’s observation is that every consumer has some ideal content that is “exactly what he wants”, whether he knows what it is today, or he just wants to be able to gain access to it some time in the future should he need to. This ideal is often in the long tail, outside the mainstream. For that person, the desired content is “hyper-differentiated”; i.e. price is no longer the main buying criteria. Furthermore he argues, products/services that provide good-enough (not the best) access to the mainstream, yet allow easy access to “my stuff, my way”, will be the most successful in the long run.

Same point, though from a little different angle. Would you agree?

HarryG
February 23, 2008

Dan Bricklin has an interesting take on the Long Tail entitled When the Long Tail Wags the Dog.

Dan’s observation is that every consumer has some ideal content that is “exactly what he wants”, whether he knows what it is today, or he just wants to be able to gain access to it some time in the future should he need to. This ideal is often in the long tail, outside the mainstream. For that person, the desired content is “hyper-differentiated”; i.e. price is no longer the main buying criteria. Furthermore he argues, products/services that provide good-enough (not the best) access to the mainstream, yet allow easy access to “my stuff, my way”, will be the most successful in the long run.

Same point, though from a little different angle. Would you agree?

HarryG
February 23, 2008

Sorry, the comment form is closed at this time.