Should We Think About Our Media Brand as an Asset on the Balance Sheet?| The Journey

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This is the Journey on B2B Growth, where we document our journey of turning B2B Growth into every B2B marketers’ favorite media brand…and how you can do the same for your market. Today James and Dan discuss the viability of SaaS companies thinking of their media as a potential asset on the balance sheet.

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Conversations from the front lines of marketing. This is B two B Growth. Welcome to the journey here on B TWOB Growth, where we're documenting our journey of turning B two B growth into every BDB marketers favorite media brand and how you can do the same for your market I'm joined today by Dan Sanchez, the executive producer of GDP Growth, and my name is James Carberr. I'm the founder of suet Fish and so today Dan, we're talking about thinking about your media as an asset. Talk to us about why is this something that we're talking about here. When you think about marketing, you don't really think about how the marketing has value, right You're like ads are here today, gone tomorrow. Brochure's collateral advertisements. Most content marketing is kind of here today,...

...gone tomorrow. One social post, it's gone, it's dead. But what if you could create a media asset that actually has value in and of itself, Like if you remove your products from it and walk move that away, is it worth something Often think of like a capital expense of some kind. If I buy a tractor from my farm, Well that tractors were something if we were to go bankrupt that tractor would be liquidated to pay off the debts. It's a capital expense. I almost wonder if we should be approaching media more like creating a capital expense something that has value in and of itself. And I think if you approach it that way, you end up creating something that is just does better marketing in the long run because it has unique I P and more importantly, has attention. Because that's really what makes media worthwhile, right if people are paying attention to it, if people really care about it, And that's what makes Mickey Mouse so valuable, right, people...

...recognize it, look for it, and pay money for it just because it's freaking Mickey. What could be doing to be doing with our brands that it's actually has an expense item? You know, it actually could be seen in the p n L as or at the p and L the balance sheet as an asset in and of itself. So that's what I wanted to talk about today, is like all the ways it can be seen like that. Yeah, So I think the way we're starting to talk a lot about b TWOB growth is I used to be very against trying to monetize BDB growth. I was very romantic about B two B growths value to sweet Fish being that it is building affinity towards sweet Fish and that it's ultimately going to drive customers. But I'm starting to change my tune a lot actually on this and really starting to think going into three, I think this will likely even be an annual objective for sweet Fish is figuring out how to monetize me to be growth. I was talking to an influencer in the marketing space, very well known guy, and he was like, James, I think B TWOB growth, what...

...you're sitting on right now could be a twenty million dollar company in and of itself. That seems a little aggressive to me. He also earlier in the conversations throughout the number six millions. So thinking about B two B growth as a multimillion dollar asset that could potentially do more revenue than our agency does is really interesting. And so the last several weeks have been thinking through how does that actually happen? Is it through affiliate sales, is it through advertising? Is it through bundling together researches. It look like doing content series within BDWOB growth where martech companies that are trying to reach our audience, we do a six part series where we help them editorially figure out what are their points of view? How can those points of view be communicated in a compelling way. And because we have the audience and they don't, they obviously there's gonna be a fee associated with them getting a six part series on GDP. Growth. With how we're thinking about content franchises, can we start to monetize some of these content franchises, So the Journey Echo Chamber Original Research content franchise, those...

...are currently not being monetized directly because those are just affinity building plays for us to hopefully be able to get people over to using sweet Fish services. But if we were to do another content franchise and it was in partnership with a company around their points of view that served, we truly believe that this is not just a veiled sales which this is actually a really compelling point of view. I'm seeing companies like Partner Hacker do this really really well. And I don't want to share their revenue numbers here, but they've shared with me in the six months that they've started, I mean, they've got significant revenue just through this brand new media property that they've built in partner Hacker focused on UH this audience of like pursuing partnerships for their businesses. So that's why I'm starting to think about the monetization of B TWOB growth because I think that's the first step. It's actually how to generate revenue for it to be seen as the capital expense. What are your thoughts there, Dan, Let's talk about some of the advantages of these like more B two B audiences, and they're gonna...

...be smaller. But at the same time, if you think about how you might be able to monetize a niche B two BE audience. You know, if you have if you have the corner on senior managers of UH technical manufacturing or something weird like that, and you have attention of a good percentage of the market share on their attention, isn't that worth more than a general consumer audience? Right? You probably could leverage more than thirty dollars per thousand views on that. Right, it's gonna come out of higher multiple because their decision makers with much higher buying ability. Right, So even in just ads alone, you can build something bigger. And if you have a multi channel media property, you know you've got a podcast, a blog, and a good social channel spending somewhere. Shoot, you got a newsletter and you can bundle the heck out of that and be like, you can create all kinds of weird sponsorship, not weird, but cool sponsorship opportunities that could come out of pretty high multiple. Maybe not high enough to pay for all the hunting you're...

...putting out there, but it starts to get actually pretty close. Like I've been doing the math and how you might be able to use ads, maybe some affiliates of some related products that you can just sell and get commissions for, and of course, like James said, making in some of your own smaller products. Maybe even if it's if your content gets to the point where it gets good enough having a premium membership where people are paying for less ads and more some premium content like research reports or something like that. The fun part is is there's just not a lot of competition for these smaller B two B audiences that are doing that are approaching it like a media company. Sure there's lots of tech companies or blogs cater towards these people, but not full media properties towards just these small niche B two B audiences directors. How hard does it really take to win their attention. Yeah, it's like there's tons of them out there. Who's creating the media property of choice for these small audiences? Yeah, yeah, I don't think there are very many people doing that. And I've thought too about the traditional way that media companies look at...

CPMs cost per million and for a podcast audience to get thirty five dollars for every thousand downloads just doesn't make sense when you're talking about if those thousand people are funeral directors and you've got a CRM for funeral directors, that getting in front of a thousand funeral directors. If you're selling a six thousand dollar a c v CRM, that thirty five dollars to reach a thousand of those people is asinine. It's ridiculous. I mean, you'd pay ten x, maybe twenty x what that the typical CPM is. So I think in B two B we've got to be challenging the traditional advertising rates because when you look at folks like The Hustle and Morning Brew, they're trying to reach massive audiences and the CRM for funeral directors is not trying to reach the scale of audience that those other media brands are. And so if we just translate how existing media brands media companies are monetizing, it's not going to translate very well. And...

...so to your friend, I think we talked about this in the last episode, Dan, who said, you know, media company models are just so it's so hard to make money as a media company. But I think if we change the narrative a bit, and we started challenging brands that are building media brands to say, throw out the industry standard pricing for how you're thinking about charging for an AD and actually right size it to the true value that someone is getting. Because our audience on BDWOB growth, we've got over eight thousand people that are B two B marketing leaders. You don't listen to B t B growth if you if you don't care deeply about B two B marketing, because that's all we freaking talk about, and so the value of that audience is much richer. Um, you've got a couple other points here around negotiating partnerships and and promoting yourself in the media company. Do you want to touch on those a little bit down before we wrap up here. Yeah, absolutely, Because partnerships is a big thing. Right, We all like to work with other people, and there's lots of leverage to be had by going in with um people trying to go after the same audience but have different products...

...to sell. And there's times when you can bring your media to the door to negotiate better partnerships for you. I mean, the fun one I go to is this B two S one because everybody knows it is when pis are worked with Disney to get their first I don't know, a half dozen films out the window because Disney had the distribution and they had a lot more than attention. They had like distribution pipelines to get all these movies out, But a big part of it was just Disney had attention. Disney had the attention at the executive level of all the different media companies and the attention of a whole you know, population in order to market this thing through. So when Disney is putting out these co branded movies, people are paying attention, and we could be doing the same thing. We could be the Disney, right, we could be the ones with the attention so that when other people want to come and do work with us, and often people approach B to be growth all the time saying Hey, we'd love to get in front of your...

...audience. What would it take, Like, well, I don't know. Maybe instead of charging them, we could just leverage something they have and work together. You know, it just creates more opportunities and you get to figure out how you want to use those opportunities, maybe to monetize, maybe to leverage something that they're doing is school. You might be able to get in front of some of their audiences, right, because what kind of like the YouTuber is doing collaborations in order to grow their audiences, So you can use your audience in order to get other things that you need. I've seen Gary Ve do this really well, right, He's done lots of trades. He's like, hey, in order for a tweet for me or to get on get on my show and ask Gary V, does anybody sell this? I'd love to do a trade. People call him up and give them the stuff and they get mentioned somewhere. Right, does it cost him anything to put that out there? No, it's like he's just selling air He's getting free stuff for just air time because it's valuable and it's worth it. Right, So you can use your attention to wheel and deal and get more things than just monetary value, more more things than just selling your own stuff, which...

...that's kind of the main purpose is that, But partnerships are all over the place because again, when you have the attention, you get the opportunity. And then the last piece here was using the media brand to obviously sell your product, to sell your service. I think this is the most traditional viewpoint here. I mean, that's how content marketing was kind of born out of trying to create helpful stuff so that people ultimately want to buy your thing. So I don't know that we need to go down this rabbit hole too much. I think people are already thinking about media brands in this way. What I really want to challenge folks to think about is, so this is some of the more non traditional rethink how you can charge for the attention that you've garnered with your media brand, How can you monetize it in different ways outside of selling your own product or service? Anything else you wanted to touch on before we wind it down down, just that there's so many different ways you can leverage an audience, and there's so many different ways to monetize it, not only with your own products, with other people's products and to leverage better,...

...get better buying the partnerships that it deserves a place in the balance sheet as a capital expense. It's worth seeing it that way and seeing the value of attention because it is something that has a value not just today but for the future. If anybody's listening to this and you know how to value a media company, it is something I very much want to figure out how to do for us at b twob growth because I want to put me to be growth on our balance sheet that sweet fish, and I want to start having the conversation with our clients that hey, you should not just be measuring our success for your media brand based on the number of leads you got from your show. That's going to happen, and that's certainly a part of it, but we want our clients valuing our service in terms of the value we've created on their balance sheet through the media brand that we've produced. Um and so we've got to figure out what's the methodology we're gonna use. Clearly, HubSpot gets to evaluation of somewhere. I've heard a lot of people talk about the hustle being valued around I don't think Sam has actually come out and said that...

...that's what he got for it. But business inside are buying morning Brew for sellon. These companies got to these valuations somehow, and so they're not just coming out of thin air. So if if you have any insight on on how to do that, I would love to hear from you, James at sweet Fish Media dot com. But that is it for today's Journey episode. Remember there are a whole lot of ways to win. Just gets accelerated when you start talking about media and you incorporate media into your game plan. But commodity content is the enemy, and we want you to focus on affinity over awareness. You can find all things Bob Growth at b TWOB Growth Show dot com and connect with us over on LinkedIn as well. We're out. We're always excited to have conversations with leaders on the front lines of marketing. If...

...there's a marketing director or a chief marketing officer that you think we need to have on the show, reach out. Email me Benji dot Block at sweet Fish Media dot com. I look forward to hearing from you.

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