Retailers: Publisher or Perish – Steve Rosenbaum – MediaBizBloggers
It used to be so simple. Media aggregated audiences (eyeballs) brands advertised and retailers fulfilled the demand with store shelves and products.
But increasingly these lines are blurred, and will soon be gone.
No longer will people consume content from one source, be exposed to ads, and then be directed to a destination to act.
Content and Commerce will merge into single destinations.
Which puts ecommerce companies and brands on notice, they need to become content destinations quickly. To survive, the mantra must be publish or perish. The challenge in a noisy world is to evolve from the last stop on the journey to being the first.
Examples range from consumer electronics, to financial services, to clothing and footware.
What you'll see is that some of the folks who historically have paid for advertisements, have decided that in order to survive and thrive in this new world they need to go from Buying Media to Being Media.
B&H Photo’s World of Photography - Shop. Learn. Explore.
B&H is already known for its deep catalog, and its competitive pricing. But in a world in which you can't win on price alone, B&H has invested in customer education. By creating content that provides knowledge to customers, B&H is building trust with visitors, increasing time on site, and creating return visits and loyalty in the crowded consumer electronics space.
Whole Foods: Health Starts Here:
Whole Foods has turned the concept of a supermarket upside down. No longer do customers want endless isles and mind numbing choices - now they want value. And value doesn't necessarily mean price. Whole Foods promise of wholesome, natural, health food means that customers arrive at a curated experience. Customers expect Whole Foods to tech them, to help them find what's best for them, and to engage them in leaning about food. By investing in content, they're able to remind customers of why they like the brand, and why they are willing to pay more for better food.
Fashion Retailer: Club Monaco: "Culture Club"
The Culture Club site focuses on people, places and styles that inspire their community. The curation changes from month to month. Crowd sourcing content from a brands trusted circle of employees and friends is content creation that is both authentic and low cost. Clothing is all about community, and being part of a trend and style. Club Monaco is able to invite their customers to participate - and enjoy being part of a quality curated experience.
Overall, the thing we're seeing is that the line between media and brands is blurring. The web's speed, and the turn over of content requires new content creation solutions for brands. “The Internet has a very short attention span, and it cannot be maintained. One moment you have people's attention, and in the next they've moved onto a video of a kitten sliding on the kitchen floor,” says Nuno Ferreira, vice-president and creative director at Leo Burnett.
Publish or Perish. That used to be what University Professors looking for tenure would say. But now brands who want to remain vibrant and top of mind must 'publish' as well.
Knowledge. Community. Leadership. These are new ideas for retail - but they're not going away. Join the conversation, or prepare to be left behind.
Steve Rosenbaum is founder and CEO of Magnify.net, and the Author of the forthcoming McGrawHill Business book "Curation Nation" (March / 2011). Steve can be contacted at steve@magnify.net Follow Steve Rosenbaum on Twitter: www.twitter.com/magnify
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