On April 15, three of the most successful digital media companies in Northeast Ohio came together to help the media professionals of tomorrow. Stack Media, WTWH Media and Content Marketing Institute partnered to bring students and young professionals together for #MediaCLE.
#MediaCLE was designed for young marketers, journalists, designers and business professionals to see the opportunities in Northeast Ohio Media. The organizers believe that Northeast Ohio is the prime spot to develop a media company, where a rich history of publishing and ample new media talent are creating a rare opportunity for entrepreneurs and professionals seeking a future in media.
At the conference, Joe Pulizzi, Founder of Content Marketing Institute, shared 6 key steps to starting a media company. What’s the most important factor, you ask? Focus on building and harvesting your audience.
6 Steps to Building a Media Powerhouse from Scratch
1. Find your sweet spot: What is the sweet spot? It is the cross section between knowledge or skill and your passion. By identifying what you’re good at, as well as your aspirations, you can hone in on your personal sweet spot. This is what you will get up everyday for – this will be your content niche.
2. Find and incorporate a content tilt: What separates you from everyone else? Answering this question is absolutely essential to finding success in the media market. Once you are able to express your unique product, view, service through your sweet spot, you will be far more likely to monetize your efforts.
3. Build your base: Start with the basics: one content type, one main platform, consistent delivery, and long period of time.
4. Harvest your audience: Follow the 4:1:1 Rule. For every six tweets, dictate one to sales (self-promotion), one of your own pieces of content (whitepaper, video, blog post) directing the user back to your site, and the other four tweets from key influencers in the market. By doing this, you provide your audience with useful information, making you a source for the latest news and insight. YOU BECOME THE AUTHORITY.
5. Diversify: Focus on channels that you can be the BEST at, once you have a great audience then you can diversify and expand to other platforms.
6. Monetize: What is the difference between those who subscribe to my content and those that don’t? Focus on email subscribers as a key metric!
What did we learn?
Create an editorial mission statement by asking these three questions:
- Who is your core target audience?
- What will be delivered?
- What is the outcome for the audience?
Create the plan…but focus everything on building an audience.