This lesson will cover business processes and activities that are part of two sub-processes within the value chain: Audience Insights and Content Financials.
Objective
This lesson will cover business processes and activities that are part of two sub-processes within the value chain: Audience Insights and Content Financials.
Audiences want great content, experiences, and value, as detailed in the previous image. Without these three key elements, the customer experience may be mediocre, or even bad, and as a result, negatively affect customer engagement. Media companies drive customer engagement through by delivering compelling content and a unique experience while maintaining competitive pricing in a demand-constrained economy.
Title lifecycle management involves managing a media asset from inception through its eventual retirement or archival. It is intrinsically linked to enterprise transformation in media companies, as progress in key areas rely on effective lifecycle strategies. Key areas include customer experience, content supply chain, and finance.
In Customer Experience, title lifecycle management aids in acquiring and retaining profitable customers by ensuring the delivery of relevant and engaging content. It enables the monetization of customer insights and helps build trust and loyalty through tailored content delivery.
Within Content Supply Chain, title lifecycle management optimizes content acquisition and production, driving maximum value from content assets. By leveraging new business models and revenue streams, organizations can ensure the efficient utilization of their media assets.
At the core of digital transformation, Finance acts as the control center for media businesses. Progress in the content supply chain and customer experience relies on finance adapting to new business models, understanding content profitability, and enabling data-driven decisions. Most companies start their transformation journey with finance.
Media and Entertainment companies are transforming in three key areas: content supply chain, customer experience, and finance, with finance acting as the control center. Transformation begins with adapting to new business models, understanding content profitability, and enabling data-driven decisions. Essential use cases include managing revenue shares, handling subscription models, consolidating accounts receivable systems, and analyzing content profitability.
To drive customer engagement, media companies focus on delivering great content, creating seamless user experiences, and providing value through strategies like offering exclusive content, maintaining extensive content libraries, and optimizing ad placement for minimal disruption.
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