Since I’ve started blogging just 4 months ago, I keep hearing terms like “internet goldrush” and “21st century goldrush.” Gary Vaynerchuk refers to it often and “Remarkablogger” Michael Martine and I had a brief tweet about it last week. So what exactly does it mean?
For starters, the internet goldrush is based on the widespread production, distribution and monetization of information, better known as content these days. The reason why it’s called a “goldrush” is because the supply of content has not caught up to the demand, thus creating an opportunity for content providers. In other words: it’s time to get rolling!
When I think back to the real goldrushes of the 1800s, I picture bearded men with picks and shovels feverishly digging for nuggets in harsh, life-threatening conditions. It’s not quite the same this time around. For one thing, you don’t have to get up and leave town and share a tent with other scruffy goldminers — home computers and internet connections solve that problem (so do cheap hosting, free blog software and thousands of free marketing channels).
More importantly is the fact that gold is finite and content is infinite. Gold comes from the Earth and once it’s been mined — it’s gone. Content, on the other hand, is a virtual product anyone can produce and reproduce. At minimum, all content requires are ideas and the time it takes to record and publish those ideas. But once it’s published, reproduction is free and limitless.
The trick, though, is to make your content as valuable as gold. That’s right — 24 carat content, the real thing. And this is where the work comes in: great content will require great ideas and even greater efforts to spread those ideas. If you want to come out on top, prepare to set high expectations for yourself — this is not just a blind trek into a rock mine. You’ll need the guts, smarts and skills of a real 21st century champion.
What the Internet Goldrush Means for Bloggers
Here’s a hint: it’s great news.
As a blogger, you have the potential to become of one of the most valuable (popular, well-connected, rich, etc.) people on the web. You have the vital role of producing and purveying the web’s most central commodity: content. And the higher grade your content is, the higher price you’ll get for it. In essence, you can create your own gold.
But know this: blogging is not just about writing one post after another. It’s not just about crafting killer headlines or attracting 100 RSS subscribers in a day. To thrive in this new goldrush, your blogging will require the skills and vision of a good editor, publisher and marketer as well.
In fact, the word “blog” will soon come to mean any web application that specializes in delivering value through niche, multimedia content to its audience across multiple channels (website, social media, offline, etc.). If you can understand this, you’re already a step ahead.
But there’s one more huge factor I need to mention:
Brands Will Set the Winners Apart
As I said earlier, anyone can be a blogger and produce content. But that’s also a double-edged sword: with so much content being produced, most of it is regurgitated junk. There is no brand value in cheap content. Leave that to the imitators, spammers and scammers who will always be lurking around.
In order for a great brand to survive and thrive it must offer truly unique and consistent value through its products (content) and through relationships. That value will build trust and trust builds loyalty. If you have loyalty and trust, more and more people will flock to you and support you.
In the next few years we are going to see some very savvy content brands emerge on the web. These brands will likely dominate vast niches and will leave very little room for the small start-up competitor. I say this now because we’re just on the very tip of the iceberg and it’s not too late to get in. The last ten years have been spent just comprehending and preparing for the magnitude of this era called the Information Age.
So what are you waiting for? Grab your pick and shovel and get ready to strike some gold!
Interesting post. I’ve got my shovel on hand and is digging right now through A MAUI BLOG. Thanks for this encouraging post.
Hi Charles. WOW, it sounds like you and I share a lot of the same thoughts! I definitely agree that the future of blogging will see competition improve the breed. While there are literally a 100 million blogs out there, a VERY small percentage of them are actually getting reasonable traffic and providing something of value. You are right, much of it is junk. I’ve said on my own blog that the difference between the winners and losers in blogging’s near future will be those that build a brand name and a loyal following.
Strong post, my friend
T