EVERY BUSINESS IS A MEDIA BUSINESS | Attention is Currency ep 1.5

Summary

In this episode of 'Attention is Currency,' host Cleveland Bishop emphasizes the significance of a 'media first' approach in marketing. He argues that platforms like TikTok and YouTube are now entertainment platforms rather than social media, and businesses should prioritize content creation to drive demand. Bishop, founder of the agency Brand Boomman, advocates for creating recurring series to engage target audiences and build brand recognition. He also discusses the importance of organic distribution and challenges the fear of relying on internet platforms for business growth.

Takeaways

• 🎙️ The podcast 'Attention is Currency' is positioned as the top marketing podcast, aiming to be the first result when searching for 'marketing' on various platforms.
• 📢 Host Cleveland Bishop emphasizes the importance of understanding media as a primary driver for business, suggesting a 'media first' approach over product innovation.
• 📱 Social media platforms are redefined as content platforms, shifting the focus from social interaction to content consumption and entertainment.
• 🚀 The concept of 'media first' is about leveraging content platforms to generate demand before introducing a product, reversing the traditional 'product first' model.
• 🤖 Technical innovation is not a prerequisite for business success; understanding and utilizing content platforms effectively is more crucial for non-technical entrepreneurs.
• 🌟 The potential for a brand to become a global giant lies in its ability to organically distribute content as widely as possible, akin to the reach of a celebrity like Cristiano Ronaldo.
• 📈 The speaker argues against the fear of digital platforms disappearing, likening them to established media outlets like the New York Times or Wall Street Journal.
• 💬 The importance of creating a recurring series that resonates with the target audience's interests is highlighted as a strategy for brand development and market share acquisition.
• 💼 Cleveland Bishop's agency, Brand Boomman, specializes in format development, helping companies create series that drive demand efficiency and brand recall.
• 📊 The podcast suggests that sales and marketing inefficiencies can be mitigated by focusing on content distribution and brand building rather than just product features.

Q & A

What is the main goal of the podcast 'Attention is Currency'?

The main goal of the podcast 'Attention is Currency' is to be the number one marketing podcast on platforms like Spotify and Apple Podcasts, aiming to be the top result when people search for marketing content.

Who is the host of the podcast 'Attention is Currency'?

The host of the podcast 'Attention is Currency' is Cleveland Bishop.

What is the role of the agency 'Brand Boomman' mentioned in the podcast?

Brand Boomman is an agency that helps companies create recurring series to drive demand efficiency and demand generation.

What does 'Media First' mean in the context of the podcast?

In the context of the podcast, 'Media First' refers to the strategy of prioritizing content platforms as the primary driver of business, where media and content distribution come before product development.

Why does the podcast emphasize that platforms like TikTok and YouTube are not just social media but content platforms?

The podcast emphasizes that platforms like TikTok and YouTube are content platforms because they primarily serve as entertainment and information sources rather than just places for social interaction.

What is the significance of organic distribution according to the podcast?

Organic distribution is significant because it allows a company to grow its reach and demand without relying solely on paid advertising, leveraging the power of content platforms to naturally attract an audience.

Why does the podcast suggest that non-technical entrepreneurs should focus on deductive reasoning rather than innovation?

The podcast suggests that non-technical entrepreneurs should focus on deductive reasoning rather than innovation because it's more practical for them to identify underserved niches or improve existing products and services rather than trying to create entirely new ones.

What does the podcast mean when it says 'the company that can figure out how to get as much distribution organically as Cristiano Ronaldo will be the biggest company in the world'?

This statement means that a company which can effectively use content platforms to distribute its message organically, similar to how Cristiano Ronaldo has a massive organic reach, will have a significant advantage and could potentially become a leading company.

What is the role of email and SMS in the context of the podcast's discussion on owned assets?

In the context of the podcast, email and SMS are considered owned assets because they allow businesses to directly communicate with their audience without relying on third-party platforms, providing a more controlled and stable method of engagement.

What does the podcast suggest as a strategy for businesses to grow on content platforms?

The podcast suggests that businesses should develop a recurring series centered around the interests of their target customers, which is referred to as format development, to grow on content platforms and generate demand.

How does the podcast define 'format development' and why is it important?

Format development, as defined by the podcast, is the process of creating a recurring series that aligns with the interests of the target audience. It is important because it helps in building brand recall, establishing market presence, and generating demand through content platforms.