Successfully implementing a paid platform requires a smart business model, not a moral crusade.
For some time now, the general public has gotten used to getting content for free on the internet. They’ll buy a book, a newspaper, a video game in real life, but on the web, something happened many years ago. An error they did and are now trying to correct.
But how do you get people to start paying for content they’ve been getting for free? And how can you break the a golden rule in media: Marketers will pay more for consumers than consumers will pay for content?
In this week’s article, I want to direct you to a text by Greg Satell who does the analysis of what gives value to content. And what can give it enough value so that someone would pay for it.
He outlines three value-making aspects of content:
- Carving Out A Niche: If you appeal to a small, devoted following—especially if their interest is professional—you can usually get people to pay for access.
- Developing A Truly Unique Offering: HBO developed a great paid model by delivering content that nobody else had.
- Filling An Immediate Need: People will pay for convenience, especially if time is an issue.
Now those are not the only ways to create value around content, but they are good examples.
Building a profitable business model and monetizing content is not easy. But we are seeing successful endeavours that we can base new ventures on.
Take some time today to read Satell’s article. He shows there is hope and that we, as content producers and distributors, will be able to see the light at the end of the tunnel.