It takes hard work to maintain a broadcaster or publisher’s social media presence. If you want to be successful, it’s a round-the-clock job that requires multitasking and attention to detail at all times, whether penning posts, broadcasting a bevy of live streams, or corresponding with fans and tipsters (and occasionally crazies) in the inbox.
But is that hard work on social directly generating meaningful revenue?
Too often, we’ve heard it’s not – but that’s not for a lack of effort. Broadcasters and publishers have built an audience that generates billions of engagements and video views a year and is ravenous for quality content. Today, almost all of that native content goes un-monetized. One of the roadblocks to generating a scalable revenue stream out of social has been the lack of an industry-wide, data-supported value for that social audience and content. Secondly, an efficient marketplace for publishers and broadcasters to sell access to their social audience with advertisers in a transparent way does not exist.
Those are the key ideas behind our next step as a social ratings company. We are helping our broadcast and publishing clients get the most out of their social media footprint by building a new transactional social currency and a sales management platform. We call it Share Rocket MONETIZE. The currency and the platform enable direct monetization of social audiences and content in a turn-key, private marketplace that is managed by the publisher and broadcaster.
Since 2014, Share Rocket’s MEASURE tool has helped our customers track and grow their audience and levels of engagement on social media. In that time, Facebook has proven to be the most powerful platform on social to drive engagement and its growth continues to outpace its rivals. A recent paper by Scott D. Moore featured on this blog cited an annual Bureau of Labor Statistics study that showed Facebook users spend an average of 50 minutes a day on the platform. The launch of Facebook Live in 2016 led to explosive growth in video consumption last year and that Live video drove massive amounts of engagement. Facebook LIVE is now approaching 20 percent of all video consumed on the platform according to Social Media Week.
Share Rocket MONETIZE helps broadcasters and publishers as well as advertisers by eliminating two major hurdles to tapping into the value of the premium social inventory on Facebook Live:
- While Facebook has provided revenue-generating options with Instant Articles and Sponsored Content, content creators lack a scalable sales platform outside of Facebook. MONETIZE allows content creators to sell social like TV by rating content by category — from local news to weather to traffic and more — for a single station or publisher or across a group. Broadcasters and publishers decide what content to make available to advertisers, whether it’s a 7-day forecast sponsorship or high school football highlights. Share Rocket customers can use our MEASURE product to increase the performance of their social brands, which then increases the value of their social ad inventory through the MONETIZE platform.
- There is not a trusted, third-party transactional currency that has a clearly-defined value for both content creators and advertisers. MONETIZE provides an operations platform to help connect broadcasters and publishers with advertisers to sell the new premium inventory category. Share Rocket will provide the exclusive currency for these new advertising partnerships, based on the cost per point of Gross Rating Points (GRPs).
Share Rocket MONETIZE also represents a new incarnation of the advertising business with mobile devices and engagement replacing TV and reach as the primary content consumption device.
A critical component for industry health is a currency that values content based on its track record for creating engagement. In the linear media environment, advertisers use CPMs to value content based on past ability to generate reach. Just as the linear media environment relies on the CPM to function, Share Rocket MONETIZE will create a properly valued currency based on a track record of driving engagement that advertisers can rely on. The marketplace will include broadcasters and publishers with safe, trusted brands that have an incredible ability to reach wide audiences. The ad inventory will give advertisers more opportunities to access to the younger and more mobile demographics that can be reached through social media as well as more precisely target key demos thanks to MONETIZE’s content categorization. Advertisers can also have peace of mind in their return on investment through transparent campaign reporting tools.
For years, broadcasters and publishers have toiled away on social media, rarely seeing meaningful revenue despite a hefty investment in resources to carve out their share of the space. We believe 2017 is the year that begins to change and that our MONETIZE platform will help lead the way. With Share Rocket’s tools, content creators will be able to manage, grow, value, and sell their social inventory.
You can see a preview of the MONETIZE platform by appointment at the 2017 NAB Show in Las Vegas, or stop by booth #N2639 to learn more about Share Rocket MEASURE or Share Rocket MONETIZE.