Media : Why Collaboration Matters

The increasingly common practice of marketers creating their own media content enables them to provide a tailored media experience to consumers, while also saving on costs. But it's not surprising that marketers' own content differs from similar content produced by media companies. The content created by the media company might be expected, for example, to appear more credible than that created by the marketer since the marketer is motivated to promote their own goods and services. Surprisingly, we have found that while differences exist, there are also synergies between the two approaches. Therefore, a case can be made for co-creation and collaboration on media content for the purpose of creating greater value. The bottom line: The dimensions of difference between the two content approaches can add experiential value for consumers as well as commercial value for companies. The two approaches can be blended so as to create a much larger sum value for both consumers and the companies involved. An integrated approach to creating media content could better satisfy marketers' desire to drive product sales, while at the same time add an element of trust and perceived objectivity to the content. It could also better satisfy media companies' need to drive ratings, and provide viewers with a more tangible way to access the lifestyle promoted by the content. INTRODUCTION When reflecting on the classical model of advertising, a company's use of paid media to sell more products usually comes to mind. During the Super Bowl, for example, companies pay millions of dollars to air their 15-or 30-second television commercial during the broadcast to stand out from the competition (La Monica, 2007). There is, however, an alternative to this model. Increasingly, companies are creating their own content and developing their own media instead of buying advertising. For instance, companies are increasingly using social media, user-generated content (UGC), video clips, contests, and other web-based content to engage their consumers. While this alternative approach has always existed in various forms, it has gained in popularity in recent years with both companies and consumers. A key finding from the King Fish Media 2009 Survey on Marketing, Media and Measurement shows that 81 percent of respondents believe that brands and companies can create content that is as engaging and informative as content created by media companies (Falkow, 2009). In the past, it was more difficult for companies to create their own content, due to the …