Thursday, 2 August 2007

What Is Your Social Media Content Worth?

During the past couple of days I've been thinking a lot about what C.C. Chapman said in his passionate Managing the Gray podcast episode Is New Media Selling itself Short.

Amongst other thoughts, he suggests that many new media content producers may be selling themselves short. He thinks that if people are serious about monetising their work (and sure, many people don't want to at all, apart from adding value to their personal brand), it's time to start thinking bigger and more seriously about what it's worth.

If I'm understanding him correctly, he is suggesting that people should be careful that they don't get taken advantage of by some big companies with a LOT of money to spend. He suggests that people should think hard about what their work is worth and not just accept anything they are offered.

I think C.C. has a very good point here. I think that some companies know the real value of some of this content, especially content with sizeable and/or desirable niche audiences. I agree that there is a risk of people being taken advantage of just because it's new media. These are uncharted waters, but I'm sure some companies know they can get a pretty good deal for their marketing dollar at the moment.

I will say that C.C. is speaking from a different environment than we have in Australia. I'm sure the social media landscape is more developed in the U.S. Having said that, it is often a global audience, and coincidently, he does mention and Australian example. I noticed the same example myself. On Twitter, Cameron Reilly from thepodcastnetwork recently mentioned that a high end glossy magazine asked him to write a major article for them for free!

What are your thoughts? In general, do you think that people producing social media content such as blogs and podcasts should take anything they can get at this stage because they are lucky to get anything at all? Is a very small amount better than nothing, even it you think it's worth more? Is it time right to start thinking bigger?

3 comments:

Phil said...

Obviously it depends at what stage you're at terms of name recognition. For someone that's just starting out (like me) sometimes free is good (but mostly not).

If it is a major media outlet then I think they should treat any content producer with respect and pay.

Why should bloggers/podcasters be any different to their regular contributors?

An online media pro who has lots of paid for stuff out there should insist on payment.

At the moment here in Oz blogging is still regarded as something out of the ordinary so pricing will be all over the place as far as determining a value for any work.

Manish said...

good post. am a blogger( advertising, media related) from India...I feel many of my posts are comparable/ at times better in content to the organised media content, yet whenever I have been asked to contribute to big media, it's been free barring an odd payment I received:-)

I guess like phil said, it's still something in it's nascency. The market will gradually evolve. But yes new media content creators must be careful if they wish to make money.

cheers

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