Beginning Balance The Economics of Content, and the Case for Word of Mouth
The algorithm has come to rule media, and it is a voracious beast. It consumes as much content as people can create, as often as they can create. The ones who rise to the top seem to be those who create the most content, on as many platforms as possible, but what do the economics of this look like? Mark asks the question whether playing the content game is worth it for a business, and if so, what kind of business?
Many would agree that making content purely for quantity's sake, to appease the algorithm and get in front of as many eyeballs as possible, can be a soul sucking endeavour, but not all businesses seem to benefit equally from this type of marketing effort. Some businesses, espcially highly skilled service providers, do just fine relying on word of mouth marketing, and in fact, the more ubiquitous content creation becomes, the more special and valuable word of mouth referrals become.
Books referenced in this episode:
Mark Butler
The Money School: https://moneyschool.works
YNAB