By Ellen Gomes
The term ‘knowledge economy’ was coined and used sneeringly as a term to denote the monetization of education. In reality, the knowledge economy is so much more, and it is something many marketers can capitalize upon to drive growth for their business and better serve their customers.
The modern knowledge economy is an economic state in which growth depends on information and data as much as physical products. With the huge surge in content and data available to us, knowledge has become more valuable than ever. Leading to the question: How can you harness this (information and data) for your business and use it to achieve your growth goals?
A world oriented towards a knowledge economy gives brands the chance to embrace content creation. Content is, after all, an effective form of knowledge if it is properly produced, and all brands should be looking for ways to position themselves as experts in their field. The evidence proves it, organizations that share valuable knowledge via content marketing experience nearly 8x the site traffic of organizations that do not.
The modern customer wants information, and they want it quickly. They are constantly consuming information and looking for more relevant and reliable content sources. As such, a provider of quality information soon develops a reputation for being trustworthy and then becomes a source that people can rely on and trust. Sounds easy, right? But maybe, like me, you are becoming increasingly frustrated with the sheer volume or poor content being churned out and distributed. “Thought leadership” and “influence” are vanity monikers claimed by many, but delivered by the few.
Nevertheless, maximizing the value of your most powerful assets should be a focus for your business. And if knowledge is key to your success then why not make the most of it?
The Content Cash Cow: Can Knowledge Be Monetized?
Many people have argued that knowledge cannot and should not be monetized, but if it leads to growth and success, and lends a certain viral quality because of its value, then why not? Think about it—we’re in business, right? You sell “stuff”—whether it’s physical products or virtual cloud-based services, which means you need to prove your worth and expertise. Knowledge in itself is an abstract concept, which is why it needs to be transformed into meaningful content that consumers can benefit from.
Taking a concept or idea that sits at the heart of your business and expertise, and transforming it into valuable content allows you to physically ‘sell’ your knowledge. eCommerce isn’t just about what objects can be bought or sold anymore; there is absolutely no reason you can’t sell your ideas. The tools are out there to turn your content into products—you simply have to be ready to monetize and choose an effective platform designed to host, promote and deliver your knowledge-based content.
There’s No Success without Sharing your Knowledge
Knowing stuff is great, it allows you to get your business out there, set up, and perhaps even start making sales but let’s get real—if you want to succeed Go to the full article.