It has become an increasingly difficult task to survive as a small business in the digital age, where the playing field has become so vast and unpredictable. Vice’s once-innovative approach to media has been overwhelmed by the sheer number of competitors, and its attempts to remain relevant have been met with diminishing returns. To survive, Vice must take a calculated risk and embrace the power of the digital market.
The first step is to create a targeted digital strategy. Vice must identify their key demographic and develop a plan to reach them. This plan should include a comprehensive content marketing strategy that reaches the target audience through multiple channels and platforms. Additionally, Vice should invest in search engine optimization (SEO) to ensure its content is seen by the right people.
The second step is to monetize the content. Vice should look for ways to generate revenue from its content and services. This could include creating premium content packages that users must pay for, or advertising services that can be sold directly to brands. Vice can also experiment with alternative monetization models such as affiliate marketing, where users are rewarded with a commission for referring customers to other brands.