Content Is King: The Penny Jar Effect #IndustryTips

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“Content is king” – Bill Gates

Discoverability is the key to succeeding online. The only way to be discovered is to create content. Content is the currency of social media. But before we crown content king let’s take a look at what it is and how it’s value is created.

Content comes in many forms. As a video format it includes films, documentaries, reality shows, interviews, podcasts, seminars, music videos, freestyles, how to and expert advice, vlogs, you name it. If it can be captured and shared on a video format, it’s content. The same is true for MP3 and other audio formats – music, audiobooks, podcasts etc. Along with other digital formats including ebooks, blog posts, and images etc. Regardless of the format creating content is an art form, and like all art forms when captured holds a copyright. The intellectual property belongs to you, the person who created the content, or the person who paid for the content to be made. Be very clear on this to protect your rights.

Capturing and sharing information takes skill. Content can be transferred from one format to another based on demand and accessibility to available technology. Think about how a classic film may have been available in cinemas before maybe a VHS or DVD release, then made available for download, right up to present day availability on streaming apps like Netflix. With new technology emerging all the time, this same classic film could have the potential to be carried over to even more formats in the future. Formats are not fixed, they are simply a carrier of media, and a method to engage an audience.

“Take care of the pennies and the pounds will take care of themselves.”

 

The Penny Jar Effect

So you’ve created content, but why should anyone care? The key is to keep giving value. Each piece of content is like putting a penny in a savings jar. Keep filling the jar with pennies until the value increases. Build a tribe around your content who will be excited to reciprocate the value provided by supporting your work. The law of compensation states that if you want to increase your compensation, you must first increase the value of your contribution.

In isolation a 1 minute video on Instagram, or a 10 second Snapchat video might not be seen as much. A bit like a single penny holds little value. But the accumulation of content compounds over time providing increased value to you and your audience. The more sharable and engaging your content, the more attention you will acquire, and that’s where the real value lies.

Consistency is the key, so this means releasing content in consistent intervals, having a consistent theme, and keeping your theme consistent with audience demands.

TAKE AWAY
– create powerful content
– try different formats
– be consistent

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