Publishers: Don't Be Afraid
Kraftisms #7 - Publishers operate from a state of fear - stop!
“Why worry? Each of us is wearing an unlicensed nuclear accelerator on his back.” —Dr. Peter Venkman
Kraftism of the Week:
Mentoring Speech-Givers
Every week, I spend a few hours in my town mentoring high school students in leadership, speech writing, and public speaking. I am part of a team of volunteers (most of us with kids who have long-since graduated from the program) mentoring a FIRST Robotics team.
Think: Battlebots. Only instead of fighting each other (a big no-no), they work together in groups of threes against other teams of three in a specially-designed game. The game changes every year, but usually involves gathering some sort of object, putting it in some sort of goal, and then climbing up above the ground. But… I know nothing about robotics.
No, the ultimate competition in FIRST has nothing to do with the robots themselves. Over the course of the year, teams work in their communities and around the world to spread the word of STEM (Science, Technology, Engineering, and Math), write a speech about it, and then present that speech TED-talk-style to a series of judges. I mentor the students writing and presenting the speech, as well as the students on the leadership team building a program that’s speech-worthy.
The hard part for the students is not writing the speech itself. For that, I give them my two sets of “three Cs” — connect (find something in common with your audience), convey (make three points as that’s all your audience will remember), close (say something powerful that resonates in the mind of your listener); and clear (say exactly what you want to say), concise (say it in as few words as possible), complete (be specific and hit all the points).
No. The hard part is overcoming fear. These students start out with ambition and the desire to be presenters… but then they not only have to write a seven-minute speech that relays all their work from an entire year, they then have to answer Q&A-style the questions of the judges. These students generally speak to adults (other than family) in one-word sentences, more comfortable texting than talking. Every single speaker that’s ever come into the “Impact Award” prep process has been afraid at some level.
So how do I help them through that fear?
I give them tools.
They start with the first tool: recognizing their courage. To do something despite fear is the very definition of courage. But then we (and I say we, because it’s the mentors in partnership with the students themselves) go beyond that. We make sure the speakers have a deep understanding of the facts of the program. We underline words they need to stress and put a double slash where they should pause. We teach them how intonation and syncopation conveys meaning. We help them find the optimal body position (yes, if it helps you, put that hand in your pocket when you speak and bring it out to gesture at just the right important moment in the speech so it makes an impact), tone, where to look, how to vamp (“oh… that’s a good question…”) while they come up with an answer, and so much more.
By the time they’re done, they’re not only ready for the presentation… they are ready to take on the world. To ace their college interview. To write engaging content. To lead a team in their career. What I wouldn’t have given for that kind of guidance and training when I was that age!
Yes, they still are afraid. They are still nervous. Let’s face it: stage fright happens to all of us. But they learn to overcome those fears and be themselves, use the tools they have, and through that, win.
Applying the Kraftism:
Publishers Live in a State of Fear — Stop!
They say that companies operate from a place of fear or greed.
For 22 years I served publishers (and buyers). I wondered why publishers made the decisions they did, why they didn’t “see” the long term solution. Why they limited themselves, preferring (in most cases) to limit risk rather than focus on growth. Now, after being a publisher for five years, it’s clear as day: Publishers operate from a place of fear. And for good reasons.
What Is There to Fear…
The answer: a lot…
Consumers are changing the way they consume content. Would you watch an 8-hour movie? Of course not. And yet you’d have no problem binge-watching 8 hours of a TV series on a streaming service. How much content do consumers read vs. listen vs. watch?
Attention spans are shrinking. We are all used to swiping (be that left/right or up/down) and getting our content in 15-second increments. Is it any wonder that fewer and fewer consumers get to the end of a long-form video or the bottom of a 2000-word article (or newsletter!)? Social media patterns are becoming ingrained in our thought processes. We want entertainment and information at our fingertips in short bursts.
Traffic sources are changing. In the display world, publishers (with very few exceptions) are seeing less and less traffic from search. One algorithm change can have catastrophic effects on traffic, which means enormous revenue impact. Fewer and fewer users are typing in URLs. And in CTV… good luck getting watchers to channel #52,530 in an electronic program guide.
AI is getting good at answering questions. As more publishers’ content is fed into AI LLMs (be it through licensing deals or the claims of several AI companies that ingesting publisher articles is fair use), consumers are seeking knowledge through their copilots. You no longer need to go to a site for an answer — you can get it in your AI app of choice. In a world of commoditized knowledge, all it takes is one news site, one sports site, one finance site to share their information with AI companies and the impact is felt by all. It shouldn’t be. Every publisher has their own value proposition… but the market is moving this way anyway.
Data is being freely shared (or stolen). Publishers for years have worried about data leakage, but the very act of putting in solutions that can operate after “the rest of the death of the rest of the cookies” has created ways for others in the middle to use that data to connect to other sources of data - in many cases without compensating the publisher. Capture an email address… and send it on a bid request so you can make more money… but what is to stop the buyer from now knowing your data about the consumer?
AdTech is getting more complex every day. Wait… another wrapper? I already have Prebid, Open Bidding, and Amazon… now I have to add Privacy Sandbox? Add to that data infrastructure, ecommerce tools, etc. It’s costing more and more for publishers to keep up.
Find the Tools; Face the Fear
And yet we still choose to be publishers. We still choose to support journalism. We create. We partner with brands. We add value. We overcome.
There are tools to help beat the fear of all these things. The challenges are real, but the smartest publishers and their teams are overcoming these obstacles with tools… be those technology tools, changes in newsroom structure and focus, or just a willingness to figure out how business must transform when market conditions change.
Consumers are changing the way they consume content. Publishers are branching out. It’s not enough to just be on the web. Or in CTV. Or on social. Or audio. It is now pivotal to have businesses across all these and other venues, using the strengths and weaknesses of each.
Attention spans are shrinking. Content is getting shorter. Does this mean MFA click-bait? In the wrong hands it can, but editorial teams are now creating content that is designed to be impactful yet concise.
Traffic sources are changing. Reliance on search alone is a fool’s errand. Whether you’re using a webpush vendor to get return traffic or have a fully-fledged email newsletter and notification strategy, you have to find other ways to bring your users.
AI is getting good at answering questions. AI is good at certain types of content — specifically evergreen. Create content that is up to the minute. Journalists and newsrooms may have to change to circle around this, but human beings bring context to these pieces in ways pure systems don’t.
Data is being freely shared (or stolen). Now is the time to focus on finding ways to partner with the buy side. The argument that the “power” has moved to the sell side is just not true. The money is on the buy side. So lean in. In the long run, if someone wants to steal your data, they can, no matter what you do. Build bridges not walls.
AdTech is getting more complex every day. Outsource. Outsource. Outsource. Other than for the largest of publishers, having an insourced AdTech engineering team of size will cost more than the fees of using wrapper managers or representation firms. More to come on this in a later Kraftism!
These are just a few tactics to overcome the concerns driven by fear. And they may not work for every single publisher… but, once you do overcome that fear… you then can focus on what a small group of publishers are now starting to do: leave fear behind and focus on actual growth. That is when this all gets exciting.
Andrew
(Note: The graphic above was made utilizing ChatGPT Plus - One of the things I’m learning in this Tour is the value of when to use AI, when not to use AI, and the importance of calling out when I do.)