Everyone has heard the phrase: “content is king”. It’s now become one of those throwaway lines that self-styled marketing gurus toss around like confetti at a wedding.
But how about “content is cash”? Nope, I haven’t heard of it either. However the folks over at General Electric (GE) know all about it, and it's a great window into a new world where SEO services make a telling difference and the traditional advertising agency loses ground.
For GE, a company that was set up by Thomas Edison in the 1880s, and that is currently listed the 3rd-largest in the world among the Forbes Global 2000, content is more than just king, its also become a business enabler.
"We've done some research on our content marketing," said CMO Beth Comstock, speaking with Adweek recently.
"And we get 30 percent extra value for every dollar spent."
GE, which during the Global Financial Crisis (GFC) was one of the big losers, bleeding amounts of money that would make most CEOs eyes water, has been using content to claw its way back to top of the list.
"I think social media has been a big part of it because it makes us relevant in a lot of new ways," said Comstock, who came on board shortly after the GFC.
“The business strategy has had more focus, and social media has helped channel it.”
In the wide-ranging interview, Comstock also said that data is leading her team's content strategy. "Make big data small and have fun with it," she said.
But it’s not only GE that is turning content into data. Brand names such as Unilever are also among those who have recently retooled their storytelling strategies into keys for growth.
For brands trying to catch up, Comstock prescribed these tips: "It starts by knowing who you are and what you stand for—without that, you are all over the place. And try a lot of things. You know who are, but you need to experiment. It doesn't cost a lot of money."
"Sometimes you might want to connect with 4 million people. But sometimes maybe you really only want 4,000...or 400. It's about getting it right with the right audience,” said Comstock.
And she should know what she is talking about. Last year, GE made over $US147 billion in profit.
So if your marketing company doesn’t understand that content is data and how to best utilise it for your clients, maybe its time to find a new marketing provider.