WEBVTT

9f51c824-0714-4bca-9188-10935343b2cc-0
00:00:00.380 --> 00:00:03.909
Neal, welcome. You produced a
paper called Every Company Wants

9f51c824-0714-4bca-9188-10935343b2cc-1
00:00:03.909 --> 00:00:07.381
to Be a Media Company. Talk to
me about that. Yeah. So it's a

9f51c824-0714-4bca-9188-10935343b2cc-2
00:00:07.381 --> 00:00:11.079
crazy idea. In fact, many people
here, I'm gonna guess 85% of the

9f51c824-0714-4bca-9188-10935343b2cc-3
00:00:11.079 --> 00:00:14.440
people at this event would be
really annoyed by this paper.

440a485a-1513-4307-acc3-c608f6df79d3-0
00:00:15.460 --> 00:00:19.670
So call it revolutionary in some
sense. The basic premise of this

440a485a-1513-4307-acc3-c608f6df79d3-1
00:00:19.670 --> 00:00:20.500
paper is that

1e8089c3-5df1-46ed-8f40-97a3fb2a51fc-0
00:00:21.590 --> 00:00:25.021
a few things have happened
evolutionarily and one thing has

1e8089c3-5df1-46ed-8f40-97a3fb2a51fc-1
00:00:25.021 --> 00:00:28.567
happened revolutionarily over
the last few years that changes

1e8089c3-5df1-46ed-8f40-97a3fb2a51fc-2
00:00:28.567 --> 00:00:31.998
media and changes marketing.
You're obviously familiar with

1e8089c3-5df1-46ed-8f40-97a3fb2a51fc-3
00:00:31.998 --> 00:00:35.373
the fact that there's a massive
increase in media outlets,

1e8089c3-5df1-46ed-8f40-97a3fb2a51fc-4
00:00:35.373 --> 00:00:38.404
places to watch things, places
to read things, media

1e8089c3-5df1-46ed-8f40-97a3fb2a51fc-5
00:00:38.404 --> 00:00:41.664
consumption that's all time
high. We also know that data

1e8089c3-5df1-46ed-8f40-97a3fb2a51fc-6
00:00:41.664 --> 00:00:45.210
privacy has become a big issue
and therefore it's much harder

1e8089c3-5df1-46ed-8f40-97a3fb2a51fc-7
00:00:45.210 --> 00:00:48.355
than ever to reach a consumer.
This has been the basic

1e8089c3-5df1-46ed-8f40-97a3fb2a51fc-8
00:00:48.355 --> 00:00:51.501
evolutionary pieces. The
revolution of social media is

1e8089c3-5df1-46ed-8f40-97a3fb2a51fc-9
00:00:51.501 --> 00:00:51.730
that

c49d8b4d-9c03-480a-9eb1-8dd87f4c4cf3-0
00:00:51.840 --> 00:00:56.644
an individual content creator
now commands more attention than

c49d8b4d-9c03-480a-9eb1-8dd87f4c4cf3-1
00:00:56.644 --> 00:01:01.219
sometimes even a singular news
organization or a theatrical

c49d8b4d-9c03-480a-9eb1-8dd87f4c4cf3-2
00:01:01.219 --> 00:01:05.947
entity. And so what's changed is
that the nature of trust and

c49d8b4d-9c03-480a-9eb1-8dd87f4c4cf3-3
00:01:05.947 --> 00:01:10.141
authenticity now lies in an
individual content creator

c49d8b4d-9c03-480a-9eb1-8dd87f4c4cf3-4
00:01:10.141 --> 00:01:14.030
greater than any professional
studio ever before. 

4b10c725-a5cc-4208-885e-5e7da98ce1c7-0
00:01:14.890 --> 00:01:17.430
So marketers, trying to reach a
consumer,

ccc8dd47-f371-4847-b3fc-273159a37254-0
00:01:18.100 --> 00:01:21.850
have been buying advertising for
decades upon decades

cd8fcbb5-d8ed-4594-acdf-8345a2f5e670-0
00:01:22.610 --> 00:01:26.488
and it's become less effective.
And what we're saying is that

cd8fcbb5-d8ed-4594-acdf-8345a2f5e670-1
00:01:26.488 --> 00:01:30.304
actually what you need to do as
a marketer is no longer just

cd8fcbb5-d8ed-4594-acdf-8345a2f5e670-2
00:01:30.304 --> 00:01:34.119
simply keep buying ads or even
do the old branded content or

cd8fcbb5-d8ed-4594-acdf-8345a2f5e670-3
00:01:34.119 --> 00:01:38.123
advertorial path. It's actually
the goal of a company is now to

cd8fcbb5-d8ed-4594-acdf-8345a2f5e670-4
00:01:38.123 --> 00:01:40.250
create an audience using
content.

4bb9dc78-64a7-45eb-a6b5-d5dc37a0b116-0
00:01:40.870 --> 00:01:44.661
And by creating an audience
using content, they get trust,

4bb9dc78-64a7-45eb-a6b5-d5dc37a0b116-1
00:01:44.661 --> 00:01:48.644
authenticity in the same way as
a Mrs. Dow Jones or Mr. Beast

4bb9dc78-64a7-45eb-a6b5-d5dc37a0b116-2
00:01:48.644 --> 00:01:52.693
conveys trust. And only then is
it time to launch products and

4bb9dc78-64a7-45eb-a6b5-d5dc37a0b116-3
00:01:52.693 --> 00:01:56.933
services to those audiences. How
do they do that? Walk me through

4bb9dc78-64a7-45eb-a6b5-d5dc37a0b116-4
00:01:56.933 --> 00:02:00.917
the steps. Well, we have a four
point plan. I think it's very

4bb9dc78-64a7-45eb-a6b5-d5dc37a0b116-5
00:02:00.917 --> 00:02:04.901
early in the development, but
effectively it starts with, not

4bb9dc78-64a7-45eb-a6b5-d5dc37a0b116-6
00:02:04.901 --> 00:02:08.500
surprisingly, being very clear
on who your audience is.

399ad3f7-4f1a-41d3-8c93-152582b2f5f7-0
00:02:09.220 --> 00:02:12.119
If you're a financial services
company and you wanna sell

399ad3f7-4f1a-41d3-8c93-152582b2f5f7-1
00:02:12.119 --> 00:02:15.118
mutual funds or you wanna sell
advice, you've gotta be very

399ad3f7-4f1a-41d3-8c93-152582b2f5f7-2
00:02:15.118 --> 00:02:18.067
clear who you're talking to. So
being crisp about who your

399ad3f7-4f1a-41d3-8c93-152582b2f5f7-3
00:02:18.067 --> 00:02:21.066
audience is the first thing. The
second thing is you need a

399ad3f7-4f1a-41d3-8c93-152582b2f5f7-4
00:02:21.066 --> 00:02:24.215
thesis for why you're going to
be different. What's your voice

399ad3f7-4f1a-41d3-8c93-152582b2f5f7-5
00:02:24.215 --> 00:02:27.464
that's going to be distinctive?
What's your content you're going

399ad3f7-4f1a-41d3-8c93-152582b2f5f7-6
00:02:27.464 --> 00:02:30.463
to be providing? So for example,
if you're about retirement

399ad3f7-4f1a-41d3-8c93-152582b2f5f7-7
00:02:30.463 --> 00:02:33.312
planning, how are you gonna,
what voice are you going to

399ad3f7-4f1a-41d3-8c93-152582b2f5f7-8
00:02:33.312 --> 00:02:35.961
speak in about retirement
planning? And the third is

399ad3f7-4f1a-41d3-8c93-152582b2f5f7-9
00:02:35.961 --> 00:02:39.160
you've got to build the content
studio. That could be as simple

399ad3f7-4f1a-41d3-8c93-152582b2f5f7-10
00:02:39.160 --> 00:02:40.909
as hiring a series of
influencers.

feff64cc-a997-4dd2-ba35-28e4175c1ae3-0
00:02:40.990 --> 00:02:44.546
That could be actually having
scripted, filmed entertainment.

feff64cc-a997-4dd2-ba35-28e4175c1ae3-1
00:02:44.546 --> 00:02:47.988
And then finally, and this is
the org piece, we think there

feff64cc-a997-4dd2-ba35-28e4175c1ae3-2
00:02:47.988 --> 00:02:50.971
should be a Chief Audience
Officer. This CAO, Chief

feff64cc-a997-4dd2-ba35-28e4175c1ae3-3
00:02:50.971 --> 00:02:54.643
Audience Officer, you've got to
always spell out your acronyms.

feff64cc-a997-4dd2-ba35-28e4175c1ae3-4
00:02:54.643 --> 00:02:57.856
Our Chief Audience Officer
brings together a lot of the

feff64cc-a997-4dd2-ba35-28e4175c1ae3-5
00:02:57.856 --> 00:03:01.011
capabilities that historically
have been spread across

feff64cc-a997-4dd2-ba35-28e4175c1ae3-6
00:03:01.011 --> 00:03:04.682
different roles in the company.
This chief audience officer is,

feff64cc-a997-4dd2-ba35-28e4175c1ae3-7
00:03:04.682 --> 00:03:08.182
is responsible for connecting
the 'who' with the 'what', and

feff64cc-a997-4dd2-ba35-28e4175c1ae3-8
00:03:08.182 --> 00:03:10.190
in this case the 'how' to
content.

ca75032c-4101-483c-bd95-852e3e6359b2-0
00:03:11.010 --> 00:03:14.198
Then I'm curious, how do you see
the relationship between brands

ca75032c-4101-483c-bd95-852e3e6359b2-1
00:03:14.198 --> 00:03:17.289
and content creators go in the
future? So I actually think the

ca75032c-4101-483c-bd95-852e3e6359b2-2
00:03:17.289 --> 00:03:20.135
content creators are tied to the
brands. That in a future

ca75032c-4101-483c-bd95-852e3e6359b2-3
00:03:20.135 --> 00:03:23.225
scenario, I don't want to talk
about specific examples, but in

ca75032c-4101-483c-bd95-852e3e6359b2-4
00:03:23.225 --> 00:03:24.060
the future world,

2cdc34aa-c920-4536-b2af-032b7608fc1e-0
00:03:24.870 --> 00:03:27.616
if you're making cereal, for
example, before you're even

2cdc34aa-c920-4536-b2af-032b7608fc1e-1
00:03:27.616 --> 00:03:30.555
worrying about what's the next
flake you're going to make or

2cdc34aa-c920-4536-b2af-032b7608fc1e-2
00:03:30.555 --> 00:03:33.349
what's the next, you know,
savory flavor you're gonna put

2cdc34aa-c920-4536-b2af-032b7608fc1e-3
00:03:33.349 --> 00:03:36.095
in there. You're actually
talking to the consumers about

2cdc34aa-c920-4536-b2af-032b7608fc1e-4
00:03:36.095 --> 00:03:38.986
breakfast and you're talking
about how they get through the

2cdc34aa-c920-4536-b2af-032b7608fc1e-5
00:03:38.986 --> 00:03:41.540
day and what kind of energy they
need. And you have,

568437a5-0941-45c6-b8ab-e26395558c63-0
00:03:42.130 --> 00:03:45.505
They're not necessarily
celebrities when they start, but

568437a5-0941-45c6-b8ab-e26395558c63-1
00:03:45.505 --> 00:03:48.821
they become known quantities
overtime. And so the brand

568437a5-0941-45c6-b8ab-e26395558c63-2
00:03:48.821 --> 00:03:52.315
actually is known for the
audience it's built. And the the

568437a5-0941-45c6-b8ab-e26395558c63-3
00:03:52.315 --> 00:03:55.808
audience is tied to the brand.
And it's no longer that the

568437a5-0941-45c6-b8ab-e26395558c63-4
00:03:55.808 --> 00:03:59.480
product is the first thing and
the content maybe comes later.

568437a5-0941-45c6-b8ab-e26395558c63-5
00:03:59.480 --> 00:04:03.210
The content comes first with the
audience and then the product

568437a5-0941-45c6-b8ab-e26395558c63-6
00:04:03.210 --> 00:04:07.060
later. Yeah. Fascinating. Thank
you so much. You are so welcome.

43f88a95-e7ad-47dc-bb7c-8c38ae91db40-0
00:04:07.760 --> 00:04:11.650