What Content Marketing Means to Traditional Media (and Traditional Journalists)
Is it a threat to journalism? No—and here's why.
When I started out in journalism—in daily newspapers—every so often you’d have a colleague opt out of the reporter’s life and move into PR instead. It always seemed like a loss, because some of those colleagues were the most capable among us.
But journalism’s loss was PR’s gain. Today, in 2013, that’s perhaps more true than ever, because of the disruption of the traditional media world. Let’s be honest with what’s happening: The newspaper industry—the industry dedicated to putting news on a paper product, which is printed and distributed every morning—is dying. It will be gone in a generation or less. The magazine industry is less challenged than newspapers, but the trend is clear. Think about what’s happened:
• It’s not just that new technologies have massively changed media-consumption patterns and expectations.
• It’s not just that the Internet has destroyed many forms of revenue-producing classified advertising, which once was a staple of newspaper businesses.
• It’s not just that it’s become an extraordinary challenge to invest resources in highly qualified journalists to produce news, when that news is then redistributed online for free within minutes. How do you make money in that environment?
• It’s not just that newspapers have become an inefficient and outdated vehicle for local advertising. Local ad revenue is soaring, but it’s online, and going to contextual and ROI-oriented technology companies like Facebook and Google.
• And it’s not just that paid reader circulation—an essential part of the revenue model for newspapers and magazines—is unpredictable, at best, online.
It’s all those things, combined. And the pace of change is accelerating. One outcome has been a wave of downsizings in the newspaper and magazine worlds, with some journalists moving into PR. And ironically, what many of them are doing now is—wait for it—creating journalism! They’re just doing it for all different kinds of brands, not just media brands. They’re serving brand communities, not geographic or industry-specific communities.
As media has changed, so has marketing and communications. The most significant change currently in brand marketing is content marketing, where brands engage audiences through traditional journalism techniques—they tell interesting and relevant stories that engage readers. This storytelling doesn’t work if it’s product pitching in disguise. It’s more sophisticated than that. And usually, it’s the PR staff that handles content marketing.
Is content marketing a threat to journalism? No. No more so than the bottom-feeder media companies that for 100 years neglected journalism and viewed content as “the space between the ads.”
What is happening is this: As marketers increasingly engage in content marketing—online, on social media, in video—they become a new source of competition for traditional media companies. And they also provide a new source of employment for those professional journalists who’ve found that career opportunities, good incomes and professional growth are no longer as plentiful in traditional media.
Maybe those folks who went into PR when I was starting out were just a bit ahead of the trend line.