5 Best Practices for Getting Rich with Data
5Know who you serve. Understanding your audience and how and when they use or want to use your content is the most important aspect of developing rich data products. Building cool rich data products that aren’t used will likely cost a lot of money with no return. Getting the rich data product embedded into the user’s daily routine or workflow is the best scenario possible. Rich data products work best when they become an indispensable part of the user’s day-to-day tasks. Know who you are serving and verify the audience frequently.
Rich data products are nothing new. Publishers are recognizing the value-add they can provide to their audiences and the additional advertising and/or subscription revenue they can enjoy. How a publisher leverages its assets by finding the interrelationships between content types is the key to a successful rich data product.
Don’t wait for the perfect time, just do it. If something is not used, maybe the product’s placement on the Web site is a problem, or the content is not that valuable to the audience. Regardless, you will learn something that should help formulate a product strategy. Finding the right formula for your business takes time, but when done right will help you develop your Web audience and retain the advertising revenue that you work so hard to obtain.
Barry Bealer is president/CEO and co-founder of Really Strategies Inc., a content management solutions and services company that helps publishers and media companies better create, manage, publish and distribute their content. He can be reached at BBEALER@REALLYSI.COM.