<<If you missed Part I, you can read it here>> If I was running a major, national, real estate trade media outlet what would I do?
My previous post talked about the fast-moving trends of companies and professionals who are creating their own amazing content and how it will eventually (sooner than later) pose a threat to traditional media. These companies actually have more resources and experts than most media outlets can ever dream of. After all, who knows real estate better than those who actually practice it every single day.
So, if I was running a media outlet, here is what I would STOP doing NOW...
- Forget covering deals. By the time you got them, it's all over the market via social media.
- Don't run press releases. They live in a million other places (apologies to my PR friends).
- Stop running thought leadership pieces from professionals. Again, they can be read in many other places and aren't unique to you (apologies again).
And, instead here is what I WOULD do...
- Study and copy every single thing Bloomberg does NOW. There is no one better in the B2B media space.
- Stats, stats and more stats. There is no central hub for data in the industry. Collect, organize and curate for every sector and market. Be a data site. Everyone in our industry wants that and it becomes a competitive edge when present.
- Lists, lists and more lists. Everyone loves them and shares them. Constantly create lists for every category, every segment and every market. Use polling to get engagement.
- Push into video big time. Every other media site in the world is investing in video in a meaningful way.
- Have a killer mobile app. The future isn't mobile, mobile is the present!
- Share every piece of content you create on every single platform you can find. Every other media site is sharing their content on Facebook and other platforms and getting huge traffic spikes as a result. For some reason, many of the traditional media in real estate are too old school in their thinking about sharing.
That's my two cents. Love to hear others' perspective.