What the hell is e-content anyway?

Why getting e-content right is vital to your business survival.

As mentioned in the previous article, the value chain of the future will be very different to what we know today.

In this connected value chain, a direct interface is enabled between all contributors and the consumer.  This means that not only can the connector ensure that the consumer is connected to the most appropriate contributors, but also that the contributors can specifically address the desires of that consumer.

As a result waste is reduced significantly.  Much more so than could be achieved with a traditional value chain.  Contributors are able adapt their offerings to perfectly match each consumer. 



The connected value chain

 

For established businesses, particularly those that rely heavily on branded offerings, this presents a very significant threat.  It’s also an opportunity, but I am calling it out as a threat because the barriers of survival are going to be greater than the barriers of entry.  This will level the playing field, as almost overnight large branded businesses lose a large portion of their competitive advantage.  These incumbents will need to reformat their business to operate in a very different environment.  The trouble is that all those parts of the business that previously were required to define how to connect with their partners will no longer be required.  Unfortunately they will most likely be tightly embedded across their entire organization, due to the relentless pursuit of efficiency.

That brings us to e-content and the role it plays in the connected value chain.  If you think of the connector business as the road network, the e-content is the map that enables consumers to find their way.

Therefore, connectors will use e-content together with the connected value chain to determine the perfect product for the consumer.  It is imperative for any contributor that their e-content represents their products affinity to their consumers’ desires.  It needs to accurately and consistently provide all the relevant cues that enable the connector to offer appropriate options, and for the consumer to make the right selection.

So far it all doesn’t seem that big a deal, right?  Sure, big business needs to restructure.  Big brands need to re-think how to represent in a connected world.  None of that is new, so what’s the problem?

The issue is trust – more specifically, the method of generating trust.  Trust is like oxygen to a brand, without trust a brand will quickly fail.

Let’s take a look at trust for moment – it is acknowledged to be built through the equation of credibility + reliability + intimacy, tempered by self-orientation (as defined by David Maister).  In a traditional value chain, it cumulates through scale.  The prevalence of a brand reinforces the trust through social evaluation, which creates an exponential impact.  The whole logic of ‘lots of people buy into the brand, so it must be good’.  Effectively the greater prevalence of a brand, the more inherent trust is generated. 

This situation has always made it harder for new businesses to enter a market, as it takes time to build a brand to scale.  It’s hard work, and takes considerable investment and time.  In a traditional value chain, launching a brand is like trying to turn the tide.

The ttrust equation (David Maister)

 

With the connected value chain, the equation is the same, but is no longer cumulative.  This means that new entrants to a market can generate trust almost instantly.  The connectors simply connect prior with potential consumers.  This means the social evaluation is no longer based on quantity of experience, but quality.  In this new connected world, the individual can have more influence than the masses.  The logic switches to ‘The prior consumers who are just like me rated this product well, so it must be good’.  It’s still necessary to generate a wave, but once you have done that you can ride it indefinitely.

So does this mean the end of brands?  Most assuredly not.  Remember that brands are not about logos and fancy fonts, but about building affinity between product and consumer.  As mentioned, e-content is like the map that enables the consumer to find their way.  Branding is doing that in such a way that ensures the consumer stays engaged for the journey.  It provides the building blocks needed to generate affinity in a connected world.  It represents the branding of the future.

Sure, right now e-content is pretty one-dimensional, but that is changing fast.  Don’t make the mistake of thinking it’s just a re-invention of the master data we use to connect one contributor to another.  Connecting businesses will develop algorithms to use this data in ways we can’t even imagine yet.  As a result, it will learn.  It will predict.  Above all, it will enable. 

If you don’t believe me, check out Alexa and think through the implications when your consumers are conveying their desires through speech.  What will they say?  And how will you build your e-content to ensure that Amazon selects your product over the competition?


Welcome to a world driven by e-content, where it's easier for a new player to compete than an established one.  Welcome to the connected value chain.