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1/ Digital media companies can only win if they own the customer relationship and monetization on their own platform.
They must be direct-to-consumer first companies.
Here’s a thread on a key thing I learned while building Bleacher Report back in the day.
They must be direct-to-consumer first companies.
Here’s a thread on a key thing I learned while building Bleacher Report back in the day.
2/ I’ve been in this space for over 15 years. That’s almost as long as digital media as we know it has been around.
In that time, I’ve seen every trend and growth hack come and go:
- SEO
- RSS
- Digg, then Reddit
- Newsletters
- Clickbait
- Social video
- Newsletters again
In that time, I’ve seen every trend and growth hack come and go:
- SEO
- RSS
- Digg, then Reddit
- Newsletters
- Clickbait
- Social video
- Newsletters again
3/ Many media publishers fall into a common trap:
They learn how to exploit a new audience source better than others. They then become addicted to the distribution.
They believe that if they grow big enough off that free-flowing traffic, they’ll find a way to monetize.
They learn how to exploit a new audience source better than others. They then become addicted to the distribution.
They believe that if they grow big enough off that free-flowing traffic, they’ll find a way to monetize.
4/ Distribution is sexy.
There are few feelings better than filling the top of your funnel with eager new users. Feeling the dopamine hit of your analytics dashboard popping off.
But accelerating distribution is futile if you have no conversion to an owned audience.
There are few feelings better than filling the top of your funnel with eager new users. Feeling the dopamine hit of your analytics dashboard popping off.
But accelerating distribution is futile if you have no conversion to an owned audience.
5/ Once you achieve conversion, everything is different.
You have the ability to grow without increasing spending.
You're not borrowing your audience anymore.
You own it.
You have the ability to grow without increasing spending.
You're not borrowing your audience anymore.
You own it.
6/ This opens up new revenue opportunities.
Margins increase.
Ad performance metrics improve.
You can sell subscriptions or memberships. You can sell products.
You no longer rely on retail channels.
Your user metrics grow exponentially in value.
Margins increase.
Ad performance metrics improve.
You can sell subscriptions or memberships. You can sell products.
You no longer rely on retail channels.
Your user metrics grow exponentially in value.
7/ Instead of looking at random data points from fly-by users, you develop a data set comprised of your most engaged followers.
You can follow reader journeys.
You can listen to your audience.
You are a direct to consumer media company.
You can follow reader journeys.
You can listen to your audience.
You are a direct to consumer media company.
8/ Biggest lessons?
1. Be ready to leverage emerging growth trends – they come and go quickly.
2. Don’t get lost in the dopamine sauce of endlessly seeking distribution.
3. Conversion is king.
1. Be ready to leverage emerging growth trends – they come and go quickly.
2. Don’t get lost in the dopamine sauce of endlessly seeking distribution.
3. Conversion is king.
9/ I adapted this thread from an essay I wrote on this topic.
For more insights, read it here: https://davenemetz.com/dtc-media/
For more insights, read it here: https://davenemetz.com/dtc-media/
10/ Want more like this? Follow me and subscribe to my weekly newsletter.
I write about building media companies, growing audiences, and the mindset and creative processes employed by prolific makers. https://davenemetz.com/subscribe/
I write about building media companies, growing audiences, and the mindset and creative processes employed by prolific makers. https://davenemetz.com/subscribe/
