Sunday, May 6, 2012

5 Pillars in the Digital Content Internet Business

Over the last decade and more in the digital content business since the year 2000, consumers have been spoilt for choice when it came to personalising their mobile devices or drawing entertainment from their personal devices during downtime.  From black and white (ring) tones, graphics (remember those black and white operator logos, wallpapers, MMS greetings) and simple mobile games, digital content has evolved to streaming music, colorful and dynamically updated themes, and mobile (soon social) games, videos and much much more.

To be successful in this dynamic digital content business, there are 5 key critical success factors or pillars which I see should be looked at carefully and reviewed continuously for businesses, who venture into digital content sales and marketing, to be able to capture traction and sustainable consumer life-time value.
(1) Quality Content
(2) Targeted Advertising (Promotions)
  • Think about who and where your audience for your digital content would be.
  • And there are an increasing number of channels available today, be it the mobile, EDMs, social media, (cloud-based) digital billboards, which you would need to analyse for the most effective targeted engagement channel(s) to your intended customers.
  • But hey do not lose sight on the effectiveness of that little thing called the SMS marketing - it's loads more effective for immediate and targeted response in the emerging markets like Indonesia.
  • In South East Asia, Youtube is top of mind.  An example of interactive video engagement is the SingTel TGIS video program series.
  • And hey consider this thing called "Gladvertising" where outdoor adverts are tailored according to the emotions detected from the consumers - spooky or innovative push marketing?
  • And then there're also promotions which are going more socially contextual in nature like the music moodbox Facebook marketing tool from StarHub (video below) 

(3) Great Experience in Access (Browsing)
  • While smartphones are flying off the shelves from many stores and into the hands of the media hungry consumers all around the world, thnk about the 50% to 60% feature phone base in a number of markets like in the South East Asia (that's about 360 million phones - phew!).
  • Feature phone users need some loving too. 35% of the top 20 performing phones in the AIS App Store were feature phones.
(4) Convenience in Payment
  • Besides the hygiene credit card for OTT content business, think about cash on delivery, bank transfers, and other mobile wallets for the likes of the consumers in the emerging markets.

(5) Flexible Delivery and Reporting
  • Along the buy process, look into add-on bundles (think how airlines are handling the consumers' online buy process with ancillary product suggestions).
  • Profile your consumers and offer targeted recommendations along your engagement.
  • Think about how you could get your customers involved, participate in your business and always think win win in terms of privileges for your customers.
Throughout the consumer journey, always bear in mind that quality, experience, convenience, participation and privilege are key drivers which would garner the WOW from your customer and lead to both sustainable engagement with your customer as well as increasing ancillary revenues in future interactions.

Do you have any experiences to share on your digital content business? 

Looking forward to hear from you.

talk more soon,
Nelson Wee
Linkedin Profile:
Twitter: @nelsonwee

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