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I’m hopeful that the recent Yahoo! debacle will underscore a point I’ve been trying to make for seemingly ever:

Don’t build brand equity for other sites; instead leverage these non-owned “tools” to increase the value of your owned asset.

One would have thought that the thrashing that FB gave to MySpace would have been clue enough. MySpace was the place where artists began to stake out their digital homestead. Countless hours were spent “pimping” their pages, growing their list of fans/friends, updating their tour schedules, uploading photos, etc., etc.

While, admittedly, if MySpace still has anything going for it it’s music, no one can argue that the vast majority of the time, energy, and cost (real and opportunity) that artists put into their MySpace pages was wasted. MySpace no longer offers an artist any real value; particularly when compared with the value that Facebook/Twitter/Tumblr/YouTube/etc. provide(s).

Still, the very fact that I continue to see artists eschewing the development of their own (owned) online presence in favor of utilizing non-owned sites (Bandcamp, ReverbNation, or others) for their primary online identity makes me fear that the message is not getting through.

Now we see Yahoo! “sunsetting” some of their properties (or maybe not – who the hell knows). In particular, the sunsetting (or not) of Delicious (nee del.icio.us) seems to have caused not only something of a nerd-class (of which I consider myself a card-carrying member) riot, but raised the concern of even those one standard deviation away from the nerd-class because of another property that Yahoo! may or may not sunset: Flickr.

This quote from a TechCrunch article on the Delicious situation sums it up:

The entire time I was reading the back and forth of [the Delicious] fiasco, I had one thought on my mind: I need to get my pictures out of Flickr, pronto. No, Flickr wasn’t on the list of companies being “sunset”, but how do I know that in a year it won’t be? Hell, maybe even 6 months from now? I don’t. In fact, I’d say it’s 50/50 that something similar happens with that service.

Be it based upon this Flickr-related fear; the inexorable move towards irrelevance of the once-important MySpace; the continued lack of real music commitment from Facebook; the understandable growing pains of Tumblr; or whatever else it might take, I hope that artists will realize that they must be platform agnostic.

I’m not for one fraction of a second suggesting that artists should not use these services — in a thoughtful manner that is part of a larger strategy; not just as a random act of improvement.

MySpace, for some period of time absolutely did provide value for artists. Facebook, Twitter, etc., are perhaps the greatest marketing tools artists have ever had at their disposal.

Some of these sites/tools will stick around (most won’t), and while they’re around, artists should use them for all they’re worth. But remember, while you as an artist may be deriving benefit from these sites/tools, with every piece of content you contribute you are definitely building the brand equity for these sites, rather than for your owned assets.

The right approach is to use these services with the single-minded goal of driving people from these sites to your own (owned) site, where you can collect both data and traffic. (For more on this, you might be interested in this article.)

In other words, rent space from these sites/tools, but own your dominant online presence.

The alternative is to be at the whim of Yahoo! or Murdoch or someone else who may decide they no longer wish to support a platform which you’ve come to rely on. As all owners do, they’ll kick you out and move on, while you’re left putting bubble wrap around the wine glasses.

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Core Competency is business jargon for that thing you do as an enterprise. The thing you do, where if you don’t do it, you sort of cease to exist. It’s not competitive advantage – it’s simply the thing that defines the enterprise. My students struggle with this concept, and I (clearly) don’t do a great job of explaining it.

This blog post from Davenetics, entitled, “Do What You’re Great At,” is basically telling Yahoo that news is their core competency, and they should focus on that to the exclusion of search and other things. It’s well stated, and illustrates the idea of core competency well.

Some salient points:

So here’s a whacky idea my Yahoo friends. Why not define yourself by your news services and the other stuff where you destroy the competition?

Don’t settle for first place. Crush everyone. Be the place I browse for news, search for news, share news, annotate news, IM news, SMS news, listen to and watch news, eat and drink news, shoot news into my veins, snort news off the tits of more news. News goddammit, news.

Search is, for better or worse, your me too feature. You’ve got a damn exclamation point in your logo. Let Google keep the question mark. That battle is over. Don’t bring chains to a fight if you’re better with knives. Bring extra knives. News, entertainment and information is what you’re great at. You’re old enough to know that.

Deeply understanding your core competency is essential to business success. Losing focus of this typically leads to failure…long, drawn out protracted failure (cf. The record business).

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TechCrunch’s Michael Arrington discusses and disses on Yahoo/Google:

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Unbelievably well-stated piece from Yahoo Music’s GM, Ian Rogers.

Maybe the smartest thing I’ve read all year:

I’m here to tell you today that I for one am no longer going to fall into this trap. If the licensing labels offer their content to Yahoo! put more barriers in front of the users, I’m not interested. Do what you feel you need to do for your business, I’ll be polite, say thank you, and decline to sign. I won’t let Yahoo! invest any more money in consumer inconvenience. I will tell Yahoo! to give the money they were going to give me to build awesome media applications to Yahoo! Mail or Answers or some other deserving endeavor. I personally don’t have any more time to give and can’t bear to see any more money spent on pathetic attempts for control instead of building consumer value. Life’s too short. I want to delight consumers, not bum them out.

I want to buy Ian a beer.

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