“Content is king” -Bill Gates,1996.
It’s been more than 2 decades since Bill Gates has written these words. And as of today, these words are valuable than ever. We will discuss why content is king and why your business needs to be on the side of the king i.e. content creation. But before starting our topic let’s read the whole essay written by Bill Gates in 1996.
(This essay is copyright © 2001 Microsoft Corporation. All Rights Reserved.
CONTENT IS KING – BILL GATES (1/3/1996)
Content is where I expect much of the real money will be made on the Internet, just as it was in broadcasting.
The television revolution that began half a century ago spawned a number of industries, including the manufacturing of TV sets, but the long-term winners were those who used the medium to deliver information and entertainment.
When it comes to an interactive network such as the Internet, the definition of “content” becomes very wide. For example, computer software is a form of content-an extremely important one, and the one that for Microsoft will remain by far the most important.
But the broad opportunities for most companies involve supplying information or entertainment. No company is too small to participate.
One of the exciting things about the Internet is that anyone with a PC and a modem can publish whatever content they can create. In a sense, the Internet is the multimedia equivalent of the photocopier. It allows material to be duplicated at low cost, no matter the size of the audience.
The Internet also allows information to be distributed worldwide at basically zero marginal cost to the publisher. Opportunities are remarkable, and many companies are laying plans to create content for the Internet.
For example, the television network NBC and Microsoft recently agreed to enter the interactive news business together. Our companies will jointly own a cable news network, MSNBC, and an interactive news service on the Internet. NBC will maintain editorial control over the joint venture.
I expect societies will see intense competition-and ample failure as well as success-in all categories of popular content-not just software and news, but also games, entertainment, sports programming, directories, classified advertising, and on-line communities devoted to major interests.
Printed magazines have readerships that share common interests. It’s easy to imagine these communities being served by electronic online editions.
But to be successful online, a magazine can’t just take what it has in print and move it to the electronic realm. There isn’t enough depth or interactivity in print content to overcome the drawbacks of the online medium.
If people are to be expected to put up with turning on a computer to read a screen, they must be rewarded with deep and extremely up-to-date information that they can explore at will. They need to have audio, and possibly video. They need an opportunity for personal involvement that goes far beyond that offered through the letters-to-the-editor pages of print magazines.
A question on many minds is how often the same company that serves an interest group in print will succeed in serving it online. Even the very future of certain printed magazines is called into question by the Internet.
For example, the Internet is already revolutionizing the exchange of specialized scientific information. Printed scientific journals tend to have small circulations, making them high-priced. University libraries are a big part of the market. It’s been an awkward, slow, expensive way to distribute information to a specialized audience, but there hasn’t been an alternative.
Now some researchers are beginning to use the Internet to publish scientific findings. The practice challenges the future of some venerable printed journals.
Over time, the breadth of information on the Internet will be enormous, which will make it compelling. Although the gold rush atmosphere today is primarily confined to the United States, I expect it to sweep the world as communications costs come down and a critical mass of localized content becomes available in different countries.
For the Internet to thrive, content providers must be paid for their work. The long-term prospects are good, but I expect a lot of disappointment in the short-term as content companies struggle to make money through advertising or subscriptions. It isn’t working yet, and it may not for some time.
So far, at least, most of the money and effort put into interactive publishing is little more than a labor of love, or an effort to help promote products sold in the non-electronic world. Often these efforts are based on the belief that over time someone will figure out how to get revenue.
In the long run, advertising is promising. An advantage of interactive advertising is that an initial message needs only to attract attention rather than convey much information. A user can click on the ad to get additional information-and an advertiser can measure whether people are doing so.
But today the amount of subscription revenue or advertising revenue realized on the Internet is near zero-maybe $20 million or $30 million in total. Advertisers are always a little reluctant about a new medium, and the Internet is certainly new and different.
Some reluctance on the part of advertisers may be justified, because many Internet users are less-than-thrilled about seeing advertising. One reason is that many advertisers use big images that take a long time to download across a telephone dial-up connection. A magazine ad takes up space too, but a reader can flip a printed page rapidly.
As connections to the Internet get faster, the annoyance of waiting for an advertisement to load will diminish and then disappear. But that’s a few years off.
Some content companies are experimenting with subscriptions, often with the lure of some free content. It’s tricky, though, because as soon as an electronic community charges a subscription, the number of people who visit the site drops dramatically, reducing the value proposition to advertisers.
A major reason paying for content doesn’t work very well yet is that it’s not practical to charge small amounts. The cost and hassle of electronic transactions makes it impractical to charge less than a fairly high subscription rate.
But within a year the mechanisms will be in place that allow content providers to charge just a cent or a few cents for information. If you decide to visit a page that costs a nickel, you won’t be writing a check or getting a bill in the mail for a nickel. You’ll just click on what you want, knowing you’ll be charged a nickel on an aggregated basis.
This technology will liberate publishers to charge small amounts of money, in the hope of attracting wide audiences.
Those who succeed will propel the Internet forward as a marketplace of ideas, experiences, and products-a marketplace of content.
Every word he has written that day is true today. Without much discussion let’s get back to our topic why “Content is King”.
Why “Content is King”?
One of my personal favorite video on YouTube comes from Gary Vaynerchuk’s Youtube channel. It’s titled “One is greater than zero” and this video shows you the perfect example of “Why Content is king”. Have a look:
If you watched the video, you know the importance of content creation.
So, Let’s get back to our topic ” Why ‘content is king’ ”
Why “Content is King”?
“Content is the backbone of any drive to interact with your readers or customers. It is the most important opportunity you have to impress the reader with your knowledge, expertise or ethos. The quicker publishers realize this, the quicker their websites take the place they expect in the industry of their choice” – Shai Aharony
1) It creates opportunities:
If someone creates a piece of content(audio, video, text, etc.) every day, He/She has more opportunities compared to the one creating same quality content once a week.
Let’s take an example: I have started watching videos of Casey Neistat posted on his YouTube channel. As of today, he has more than 7.6 million subscribers on his Channel. He grew his channel from 0 to 7.6+ million subscribers purely based on his Quality+Quantity content creation skills. You might be thinking, What has it to do with Opportunities?…The answer is: Along the way of his growth, he got opportunities by some big brands like Nike and Samsung. And he totally nailed it: Check out his video for Nike here and Samsung here.
There are hundreds of thousands of people in the world if not millions whose career are purely based on Quality content creation skills and the Internet.
2) It drives Businesses:
While I was reading about “Content Marketing” to create more content and bring as much value as value possible to you(the reader), I found this two article from digitalist and from business2community interesting. You might wanna check it out.
If you are a small business or startup, having Quality as well as Quantity content is necessary. Because content:
- Grows Web Traffic
- Generate Leads
- Drive direct sales
- Build a (social) Network
- Increases engagements
- Gets word of mouth and feedback
Doing Facebook marketing or Instagram Marketing or any other marketing is good. But around 40% of online sales are still done based on Organic Traffic.
So, having more content leads to more chances of ranking for more keywords. That means more content gives positive SEO which leads to more organic traffic which leads to more sales. See the ROI yet?
BUY Joe Pulizzi’s Book on Content Marketing Here:
Hence, “content is king” and it drives business.
You might like: How to leverage youtube content for sales
3)It creates loyal customers:
If you are not taking care of your customer, your competitor will. – Bob Hooey
If you provide more value to your customers than your competitor, you have got a loyal customer.
To create loyal customers, you need to have your customer’s attention. And to have their attention, you need to create more and more valuable content. Hence, having proper content creation strategy and distribution strategy is must to have loyal customers.
Hence, “Content is king” and it builds loyal customers.
In short, To build business and generate new opportunities one must create more content. In the world full of content, creating unique and valuable content is most important. And after creation, distributing it with proper strategy builds more customers which lead to more revenue.
In conclusion, “Content is king” and we should not go on offense against it and create more and more content.
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