I can’t tell you how many times I’ve heard publishers say:
“We’ve been considering monetizing our archives.”
Excellent – in the time it took you to craft that profound thought you could have made thousands of dollars.
“We’re not sure if the time is right to begin marketing our archives”
OK, well, how about I tell you that marketing your archives is kinda like selling seats on an airplane. If you wait too long people will find another way to get where they want to be.
“The up-front cost of monetizing our archives won’t give us a positive ROI.”
Hhhhhmmm – I could have sworn that somewhere on the Wright’s Media website it clearly states there is no up-front cost for publishers. Guess the cough syrup is finally kicking in.
OK, I will admit that it does take some time and a meeting or two to launch a new monetization strategy, but every day you wait equals lost sales that (like plane seats) are gone forever.
Stop talking and start executing.
The only question worth asking is pretty simple – Does my existing content have value today?
With apologies to Meghan Trainor, the answer is yes. So let’s do it.
These days, repurposing content across multiple channels is just smart business, but decades ago the opportunities to stretch your content were limited.
Take Vogue, for example. They hold the history of fashion within their archives, and every day countless designers search it for shock and awe to use in meetings, campaigns, collateral – you name it.
The Vogue Archive is easily searched and anyone (designers, guerrilla marketers, fashionistas, etc.) can search by model, color, country, photographer, advertisement, product, and much more. Whether they are looking for inspiration from 1950s Chinese fashion, early 90s grunge, or new bohemian urban looks, the Vogue Archive brings it to you.
Publishers, take note. This is how a successful archive works. It simply repurposes previous content and delivers it in a way that is helpful for their audience.
Today’s tech-savvy audience doesn’t want to thumb through PDFs on your website
– they are used to getting exactly what they want, when they want it (thanks, Google) and your archive needs to deliver the same experience.
Have you figured out that there’s value in your archive? Or still pondering and pontificating about ROIs?
If revenue drives your decisions, it’s time to make that content start working for you.
Remember, content licensing can’t be an afterthought. Partner with a content licensing agency (shameless plug) that has a record of delivering results. Simply put, you keep doing your thing, and we’ll make sure you’re paid for doing it.