Content is not king
So another major organisation has taken the step into brand journalism with the announcement this week that Wells Fargo had launched an online magazine called “Wells Fargo Stories”. So is this the new future driven by the strategy to connect to those more reliant on social media than traditional media sources?
The objective of Wells Fargo Stories is to promote interesting stories about its employees, its customers and the communities in which it conducts business which in essence will provide them with more control in promoting the company’s vision and values.
On the surface that sounds pretty boring. Although when you compare this with the traditional marketing campaigns it starts to sounds a little more interesting.
Add to that the challenges organisations are having today in driving results from traditional marketing it also sounds like a more attractive way to invest brand and marketing dollars.
But is all this worth the effort?
You do not have to look too far to find brands succeeding in this arena, Coke and Nike are examples that spring to mind. But it did not just happen, Coke have invested in a team of full time and contract staff spanning the globe, add to that they leverage their marketing and PR teams in every city.
It appears that success in this space comes down to the ability to apply journalistic principles to traditional marketing ideas. It’s about uncovering the stories at the heart of a brand. Which I guess is the road the Wells Fargo plans to travel.
As Barry Feldman put it, content is not king, the customer is king and the efforts brands will put into journalism is just acknowledgement that they have to find new ways to connect with the King.