The market is your battleground. In the sports media industry, whether you’re an individual content creator or the content manager of a large team, the market is the platform on which you put that content to the test, and try to field the favor of your focus audience. And the market is always evolving.
In its simplest form, the market is a vast community of users, defined by interest and demand. Where is the demand for content greatest, and how can you fill the need for supply, based on that demand? The laws of economics do apply, and in a similar vein, you are expending resources on a large scale, in an attempt to generate revenue.
With that in mind, how can you better understand the market in which you operate, and manage the driving forces that influence the market’s constant fluctuations? Here’s a look.
4 Ways Content Creators Can Tap Into Market Trends
1) Monitor Events and Cultural Trends
The easiest drivers to identify are those that exist on the broadest level in the sports media industry. Most sports seasons occur in cycles, and thus, cyclic events magnify interest at certain points in the year. In February, the NFL Playoffs and the Super Bowl flock eyeballs. In late June, the NBA Draft captures the attention of 30 different fan bases. In December, the Australian Open serves as a hub for the tennis fanatic.
Based on which sphere you cover with your specific focus, different events drive interest and demand within the sports media industry throughout the year. These industry-related events drive the market from the inside, while cultural trends permeate into the sports media industry and influence content externally.
Often, events and cultural trends work in tandem to help creators and brands communicate with audiences. The Super Bowl is a prime example, where cultural trends can be catered to in advertisements, drawing massive amounts of attention to certain companies.
2) Track Influencers and Consumer Interests
In any demand-driven market, consumer interests will be one of the primary drivers. That’s no doubt the case for the sports media industry. An audience’s interest is at the very foundation of the creator’s content plan. That interest is what projects to creators what they should produce.
A unique evolution of the modern sports media industry, through the rise of social media, is the authority and powerful imprint that influencers have on consumer interests. Consumers can be drawn to influencers based on their interests, and – vice versa – influencers can spark new interests among consumers. And with their wide reach and engaging voices, influencers can usher notable shifts in trends and market interests.
For this reason, it’s become almost a necessity to be keyed in on what your field-relevant influencers are up to – what they’re talking about, what they’re putting the spotlight on, and how they’re impacting consumer interest.
3) Stay Up-to-Date With Technological Advancements
Another major market driver – both regarding the presentation of your content and the depth at which you produce – is continual technological advancement. Creator technology itself – computers, recording hardware, video editing tools, etc. – continues to expand its capabilities, as do the data collection methods – such as Next Gen Stats and GPS data – that enrich creator content.
In an ever-evolving market, to fall behind technologically is to limit your capabilities, in relation to other creators and brands. To keep up in this area, you need a certain amount of resources, but creativity and open-mindedness go a long way as well. These technological advancements not only influence what users seek from their content, but also how they consume said content.
4) Understand Scope and Impact of Media and Content Accessibility
Content has never been more accessible than it is now. Twenty years ago, a platform was a privileged, much rarer commodity. Now, the gateway toward becoming a content creator and establishing a presence is much closer to the bottom of the mountain. The mountaintop itself is still just as laborious a climb, but to get in the door, you don’t need to walk far.
Interestingly, the evolution of media and content accessibility itself has changed the user’s experience in how they seek out and find content. Users don’t have to work as hard anymore. That makes it both easier and harder for the content creator themselves. It’s easier to enter the space, but because the barrier to entry is so much lower, competition abounds.
To weather this, understand that simply having a presence on social media and simply having physically accessible content isn’t good enough to separate your brand. To truly separate, you have to rely on the unique brand qualities that magnify and strengthen your value offering, through the lens of consumer interest.
Playbook
- Monitor events and cultural trends
- Track influencers and consumer interests
- Stay up-to-date with technological advancements
- Understand the impact of content accessibility
