Categories: Articles

The Moment Of Truth

Are people willing to pay for what you do?

You can create great content. That content can generate all kinds of traffic and attention. That traffic and attention can bring lots of healthy conversations and comments. Over time, those conversations and comments can lead to a vibrant community. That community is there for you and will support you. But, the big question is: would they be willing to pay for it?

We’re about to find out as The New York Times announced that they are setting up a pay-wall for their online content.

The debate about online journalism and newspaper websites, their value and the general public’s interest level in paying for online content has been dissected and debated by people way smarter than you and I (just check out the insights by the likes of Jeff Jarvis and Jay Rosen). Regardless of the debate, I think this is the right move for The New York Times to make (are you surprised?). This will be their moment of truth (for a more official look at what a pay-to-play New York Times will look like, check out this article: New York Times -The Times to Charge for Frequent Access to Its Web Site).

"Starting in January 2011, a visitor to NYTimes.com will be allowed to view a certain number of articles free each month; to read more, the reader must pay a flat fee for unlimited access. Subscribers to the print newspaper, even those who subscribe only to the Sunday paper, will receive full access to the site without any additional charge."

Here are some reasons why this is not such a bad idea:

They will keep being indexed by Google and the other Search Engines.
That search indexing will still bring in big-time branding, awareness and link love.
For the majority of people coming into contact with the occasional article from the New York Times, the content will still be free.
While this may deliver less banner ad impressions overall, the quality, targeting and readership analytics will deliver a more quality CPM and better targeting.
If enough people love the content (and feel like they can’t live without it), they will pay for it. Happily.
The New York Times will learn – in short order – what the truth is about their circulation and readership.

Most media pundits are focusing on whether or not readers will pay versus finding the same news elsewhere for free. As much as you can get news from anywhere and everywhere you can’t get the perspective of the individual writers and journalists that make up an issue of the New York Times. If what they are producing is of value to enough people, those people will pay for this content and the New York Times will reap the financial rewards of this.

Is there a better way of knowing if what you’re doing is really of value or has a future?

Mitch Joel

Mitch Joel lives at the intersection of technology, business transformation and consumer culture. He is the Executive Director of Next Era Institute, a strategic intelligence platform helping leaders understand the forces reshaping business, technology, culture and society. The Institute identifies which shifts matter, explores their wider significance and translates them into strategic direction and momentum. Mitch is also a globally recognized keynote speaker. He has delivered thousands of presentations across both B2B and B2C industries to organizations including Google, Walmart, LEGO, Shopify, Microsoft, Procter & Gamble and Unilever. Strategy Magazine has called him “one of North America’s leading visionaries.” Mitch built his career by working directly inside the waves of change that reshaped modern business. He founded and built a digital marketing agency that worked with some of the world’s largest brands and was later acquired by WPP, where he served as President of a firm operating in 25 countries with almost 3,000 employees. Mitch is the bestselling author of Six Pixels of Separation and CTRL ALT Delete, and the host of Thinking With Mitch Joel, one of the longest-running business podcasts in the world. His writing and commentary appear in outlets including Harvard Business Review, Fast Company and Inc. Magazine. He is a member of Dr. Marshall Goldsmith’s 100 Coaches and was named to the Thinkers50 Radar. Mitch also hosts Groove – The No Treble Podcast, documenting the oral history of electric bass players. Mitch is also Co-Founder of ThinkersOne, a platform that enables companies to bring personalized thought leadership from world-class experts into meetings, events and off-sites in focused 15-minute bursts.