Content Marketing Changes In The New Economy

Anyone reading industry news lately knows that a lot of publishers are struggling to monetize right now. The old rules just don’t seem to apply anymore. That being said, publishers and content creators with diversified monetization strategies are doing much better on average. Across the industry, we are seeing more and more publishers experimenting with new campaign types and revenue streams, and there are few signs that this trend will slow down anytime soon. 

The State Of Publishing In A Coronavirus Economy

In recent "State Of Publishing" surveys, we’re seeing that a whopping 70% of respondents are experimenting with new sources of revenue. One area that is having a “moment” is lead generation campaigns. I have written before about the strength of newsletter campaigns. Right now, we’re seeing some fascinating and successful applications for lead generation campaigns. Let’s dive in. An Innovative Ad Format First, a bit of background. Among Facebook’s many ad formats is the Facebook Lead Ad, which allows an advertiser to capture a lead within a user’s news feed. 

A couple of years ago, we developed an innovative ad format that makes the user experience of a Lead Ad much better. The user gets a tease of article content and is prompted to sign up for access to the rest of the article. Once they sign up, they get directed to the article. We call this product “Content-to-Capture, ” and this is what it looks like in the feed: We see conversion rates on this ad format are on average 30% higher than a regular Lead Ad. 

C2C & CPC

Most of our customers use Content-to-Capture (C2C) as a way to drive newsletter subscription sign-ups. In general, the majority of publishers currently running these programs are news publishers who care about ongoing content engagement and traffic numbers. With that being said, we’ve seen some unique new approaches and strategies around this. I want to highlight a couple of those approaches. Lead Ads for Ad Revenue There are plenty of publishers who run campaigns that optimize for ad revenue. The primary goal of these campaigns is to get the lowest CPC (cost per click) possible and maximize post-click engagement. 

Here’s where things get interesting. Generally speaking, CPCs vary between ad formats. There are, of course, a large number of factors that determine the CPC of a particular ad, from spend caps, to post text, to targeting, and so on. The interesting factor here is that we’re seeing CPCs for Content-to-Capture campaigns at record lows at the moment. Here, for example, are the CPCs of a publisher that recently launched a C2C campaign and how they compare to their ongoing traffic CPCs: As you can see, the CPCs are dramatically lower on the C2C campaign. In this case literally 1/4 of the cost. Of course, not everyone converts once they click the ad, but we’re seeing cases where the cost per lead is only marginally higher than the CPCs for regular traffic campaigns. 

Another caveat here is that results can depend on the type of content that is being promoted. So while we can’t guarantee a parity between the numbers, overall, we’re looking at record lows for email acquisition. These prices have given publishers optimizing for revenue a whole new strategy to explore. While they can still monetize the first click immediately when the user reaches the article, they now truly own that audience and can reach them via email, bring them back to the site, and monetize further. It’s a win-win-win. 

Lead Generation For Brand And Affiliate Campaigns 

Not all email capture campaigns need to lead to a newsletter sign-up. Yes, that’s the most common use case for publishers, but it’s certainly not the only one. As publishers look to diversify, they’re taking branded content and affiliate content to a whole new level by actively generating leads. 

On the branded content side, for example, a publisher can create a compelling article about Car Company X, capture the email of users that are interested, and then pass those on so the car company can reach out and schedule test drives. On the affiliate side, there’s also a lot of potential. Insurance companies, mortgage lenders, B2B Software as a Service companies, and so on are constantly on the hunt for new lead generation opportunities, and often enter into affiliate deals where they commit to buying X number of leads for a certain price. Publishers are cutting these deals more and more often, showcasing informative how-to articles (for example, "5 Tips to Save Money on Your Car Insurance") and using that engagement and interest to generate a lead and then sell it to a relevant company. 

Of course, that’s not all. Here are a few other interesting uses we’re seeing for lead capture by content publishers: 

- Petition signatures 
- Donation solicitation 
- Mid-funnel outreach to drive paid subscription sign-ups 

It's Time To Own Your Audience 

Things are certainly crazy right now for content creators, publishers, and online advertisers. If there is one thing that can help publishers and content marketers weather this storm, it is to take steps now to own their audiences and diversify their revenue mixes. When you have got a user’s email address, you can engage with them in any way you see fit without relying on paid platforms to do so. Whether you want them to see a banner ad, buy a pair of shoes, or simply engage with your content, email continues to be the most effective way to communicate with your loyal users. So if you are not doing email acquisition yet, now’s the perfect time to try. 

This week I have been reading about how publishers are finding creative ways to drive dollars through virtual events. Group Nine recently teamed up with sponsor Swanson to host a live bingo-meets-cooking-class called Dinner Party Bingo Bash on PopSugar’s Facebook Live page. The Atlantic, on the other hand, hopes that moving its flagship festival online will boost attendance exponentially. Rather than bringing 3,000 readers together in a single location, the publisher now aims to amass a whopping 1 million virtual attendees over the course over four days in September. Atlas Obscura’s event partnership with Airbnb has moved online, too. In lieu of outdoor adventures, the travel publisher is now producing virtual events that include a mind control course taught by a mentalist and mind reader. 

According to Warren Webster, CEO of Atlas Obscura, the margins for custom online events are higher than their in-person counterparts. However, sponsorship revenue is down to about half of what it would be if they took place face-to-face instead. Other publishers are looking at virtual event programming as a way to add value to their paid subscription products. LGBT+ publisher Pink News recently launched its membership offering, My Pink News, which gives subscribers access to video meetings with its editorial team and other high-profile people in the LGBT+ community. And along with many other perks, Cosmopolitan promises early access to insider events to those who sign up for the “unlock it *all*” tier of its new membership product, Cosmo Unlocked.

Coronavirus Content Conclusion

How has the new normal impacted your content marketing or online advertising strategy? If you are considering new revenue streams or want to test email acquisition, contact us today. Together we will improve the state of content marketing in a shaky economy.

Setting Campaign Creatives Up For Success

When it comes to running successful paid campaigns, your creatives are the primary driver of success or failure. Don’t get me wrong - picking the right channels, getting your targeting down, your CPC bids and so on are incredibly important. But your creative is where the rubber hits the road. It’s your gatekeeper. It’s what catches attention. It’s what drives a user to take action. 

When setting up your campaigns, or when trying to optimize, it can often be a bit overwhelming deciding what to do and how to approach your campaign creatives. That’s what I want to talk about this week, so let’s dive into setting campaign creatives up for success. 

Rules Of The Road 

Let’s start with real talk: campaign creatives are a whole universe. At LeanStartupLife.com we have data scientists, AI language models, copywriters, engineers, and - well, basically, there is not a single employee here that doesn’t deal with campaign creatives on some level. We’ve created a huge and robust new product around it. 

For today, what I want to talk about is the approach to digital marketing campaign creatives. What are the baby steps that every marketer should take to get the basics right? 

Having said that, it’s also important to note that there is nothing that is set in stone when it comes to creatives. Creatives drive action. People take action, and people are, all told, incredibly unpredictable. 

The Setup 

For me, there is nothing more frustrating than a blank screen and a blinking cursor. Having to put together ads and ad copy from scratch can be especially daunting, because you’re literally putting money on your work. You’re essentially betting on something doing well. 

Once you have the content you’re going to promote, there are a few simple rules you can follow to get things going. 

1. Variety Is Key 

Don’t start with a single creative. More often than not, betting all of your money on a single horse will lead to failure. A good rule of thumb is to start with two to three text variations and two visuals , and then mix and match for a total of between four and six variations for every link you promote. 

2. Give People A Reason To Click 

In every ad you’re actually asking a person to do something. Ask yourself why they should do what you’re asking them to do, and use that as the foundation for your message. Will they learn something new? Get a discount? Relate to something on an emotional level? 

3. Go To Extremes

If you’re already putting the time in to create multiple ad variations, make each of the count. For each text variation, try using a different angle or approach. So let’s say, for example, you’re promoting a T-shirt. Don’t just talk about how comfortable it is. Try one variation about comfort, another about the multiple colors it comes in, another about how popular it is amongst soccer moms. 

4. Images Are Worth A Thousand Words — Or Clicks! 

The image is always the first thing to catch a user’s eye, so standing out is key. Even if you use stock images, try to find ones that don’t feel like stock images. Avoid flat lighting, exaggerated or disingenuous expressions, and the dreaded disembodied hand, which you’ll often find pointing at a meaningless graph. People are remarkably skilled at identifying and filtering out stock images. 

We all do it all the time without even realizing it. 

Side note: while looking for a good image to represent the idea of “saving money on electricity,” I came across a picture of a woman smiling widely while trying to stick a plug into a piggy bank. 

— A: I think the only people who actually buy piggy banks are stock photographers. 

— B: I don’t think that anyone in their right mind would consider sticking an electric plug into a piggy bank. 

If anything that photo illustrated insanity, not electricity savings. But I digress... 

Long story short - don’t default to the obvious, but also be mindful that you don’t devolve into insanity. Bonus tip: Facebook’s user interface is mainly cool colors — blue and white. Going for something with a warm palette - reds, yellows, etc - will help the creative stand out. 

The Optimization 

So you’ve been running a campaign for a few days or weeks. It’s doing pretty well but you know there’s still room to grow. Adding new creative variations is a great way to build on past successes. Though unlike starting from scratch, you now have actual data to inform your creatives. So the approach here should be capitalizing on success. Here are a few basic tips: 

1. Keep What Works

If you set things` up right, your initial results will be able to give you some insight into what works. So say you want to parse out what text works best for you, compare the performance of different texts that are paired with the same image to see what did better. You can do the same with post text to understand what images are doing well. Pair the top performing texts with new images, and the top performing images with new text. This is why we love to start with permutations — you set yourself for success while also gaining insight that will help you prolong your campaign, and might even teach you a few things about your offering and target audience. 

2. Evolve

If a certain angle seems to be working for you, keep it, but change up the style. So back to my t-shirt example, let’s say the message that’s doing best is “These shirts come in a huge variety of colors.” Keep the idea, but change the format. Make it a call to action - “Check out the amazing assortment of colors”. Turn it into a question - “Which of these colors is your favorite?” Give it a lighter twist - “Same shirt, different colors“ 

3. Don’t Overdo It 

Since the delivery of the digital campaign is already optimized, you don't want to overwhelm it with too much new information. Don’t add too many new variations at once. Four is a good number to stick to.  

Paid Subscriptions & AI Are The Future

For a while now, paid subscriptions have played a major role in the industry-wide conversation around revenue diversification. And as the worlds of publishing and social media continue to collide, it’s not surprising that Facebook has recently begun testing a new tool that would allow readers to link their subscriptions to their Facebook accounts. The goals, among others, are to reduce the friction associated with logins and paywalls, and to show subscribers more news from the outlets to which they subscribe. Early results are promising — those who linked their accounts averaged 111% more article clicks than those not in the test group. Here are a few more highlights from what I’ve been reading this week, including an interview with an IBM executive on the importance of AI within the future of advertising. For $5 per month, The New Paper curates daily text message digests that highlight the day’s top news stories. Within six months, the startup has acquired 7k paying subscribers and $400k in ARR. 

Facebook proper has the highest average CTR (3.9%) across the company’s various platforms. Spoiler alert: this number is 4.75 times greater than the average CTR for Instagram (0.82%). “AI is really the future for advertising,” according to the Global Head of IBM Watson Advertising and The Weather Company, who says the technology “will become more essential with the absence of the cookie and the identifiers.” At Keywee, we see AI as the future of advertising, too.

The Bottom Line On Campaign Creative Success Setups

As I said before, when it comes to content creatives, there are no hard and fast rules. But the tips I outlined above are methods that we at Lean Startup Life have put together over years and literally millions of paid posts. If nothing else, they should give you a good place to start. So what’s happening in your neck of the woods? Any creative tricks that have been working well for you lately? Let us know on social media or Contact Us!

State Of The Content Publishing Industry

About a month ago, we asked Lean Startup Life readers to complete a survey so we could take the temperature of the publishing industry in this strange and surreal period we’re living through. You answered, we analyzed, and it’s made me incredibly optimistic. That’s what I want to talk about this week, so let’s dive into the current state of the publishing industry for content publishers and advertisers. 

Talking Turkey & Taking A Hit

We’ve all read the news over the last few months of publishers cutting newsrooms and other staff in order to weather the storm. With all of that doom and gloom, I was expecting to see this reflected in publisher marketing teams as well, and I was surprised to discover that the situation was actually pretty positive. 

Over half of the respondents (54%) reported that there had been no staffing changes at all, 13% reported salary reductions, and 13% reported they were actively hiring. All told, this means that 80% of marketing teams have remained intact. I think this bodes well for the future. 

Marketing budgets are another place I tend to look to get the pulse, and there, 52% of respondents reported that their budgets have either remained the same or increased, while only 9% reported that they have been cut completely. In a nutshell - 91% of publishers are still investing in paid media to some extent. 

Agility Is Key For Publishers

I’ve spoken here multiple times about how some revenue streams have suffered since The Great Upheaval have taken a hit, but are recovering (branded content and ad revenue) while others are seeing unprecedented growth (eCommerce, newsletters and paid subscriptions). It’s clear from the survey that publishers are working hard to diversify their revenue streams in order to achieve long term stability. 

A whopping 73% of respondents are either actively testing or planning on testing new revenue streams. At LeanStartupLife.com we’re certainly seeing more of our customers testing out affiliate, newsletters, and paid subscription models. It’s encouraging to see that the industry as a whole is doing the same. 

Opportunities For Growth 

I want to point out an incredibly interesting statistic. 84% of publishers reported to have a newsletter program, but 75% of publishers who have one, are not monetizing them. Newsletters are prime real-estate that can be leveraged for sponsored takeovers, featured content, promotion of products and paid tiers, and so much more. Newsletters are, of course, about giving value to your subscribers. But that doesn’t mean you can’t draw value from them. Opportunities here are endless and publishers would be wise to embrace those. 

Of course there are countless other opportunities for publishers to test. Q4 this year is expected to be mammoth, so the time to start experimenting is here and now, while CPCs are still relatively low and the landscape overall is quiet. 

Optimism Abounds 

At the end of the day, my takeaway here is that there is a light at the end of the tunnel for content marketers, publishers, and advertisers. We’re living through an incredible moment in history, and publishers are at the apex of this moment. The source of information, comfort, and distraction as billions of people around the world are in isolation and seeking out those things more than ever.  

Publisher Power

With numerous publishers reporting their annual or quarterly earnings in recent days, it’s become more evident than ever that digital subscription revenue will play a critical role for countless news publishers moving forward. In its full-year results for fiscal 2020, The Wall Street Journal announced a 23% bump in digital-only subscriptions, which now number nearly three million and account for 75% of the outlet’s overall subscriptions. And in its Q2 earnings announced last week, Gannett reported that its number of paying digital subscribers has increased 31% year-over-year. 

Perhaps the most telling headline from this week — and indicative of where the industry is headed — comes from The New York Times, which revealed that digital revenue now exceeds that of its print publication for the first time in the history of the company. It’s not surprising then, that with a goal of 10 million paying subscribers by 2025, The Grey Lady is actively exploring additional revenue-generating subscription opportunities. 

Another big subscription-related trend? Bundling. Earlier this month, Bloomberg Media and The Athletic teamed up for a joint subscription offering. And looking beyond just publishing, it appears as though Apple is gearing up to launch a comprehensive subscription product spanning its various monthly pay-to-play products. 

Google's Goodbye To The 3rd Party Cookie

Earlier this year, Google announced that its Chrome browser would kill the third-party cookie come 2022. And while there’s been no shortage of predictions about how this change will impact the publishing industry, practical advice seems to be in short supply. It’s time for publishers to stop relying on data and audiences that aren’t truly theirs. They need to take ownership of their audiences before it’s too late. 

Engaging Readers At Home

As this very unusual summer is starting to wind down, digital attention and only marketing copy shows no signs of slowing. As people continue to spend larger amounts of time at home, publishers are working hard to vie for their attention. To that end, publishers are turning to video and virtual events to build long-term relationships with their readers, as well as to drive ad dollars. 

Group Nine is taking niche content directly to where it matters most - family - with two of their brands, The Dodo and NowThis. The Dodo’s “DodoWell” digital expansion is all about caring for your pets, where NowThis Kids brings in a 13-year-old host to teach kids about social responsibility. Both of these initiatives come with big sponsorship deals - Petco for the former, and Cheerios for the latter. 

And they’re not the only ones driving branded dollars with video content aimed at young people. Bleacher Report has partnered with Audi to create a digital series featuring young athletes and their efforts to become Major League Soccer players. 

Of course, video doesn’t have to be niche, as some publishers are covering broader ground. AARP The Magazine is launching a new live video series called “AARP The Magazine Presents.” The series will cover a wide range of topics for the senior sect, from health and finance to celebrity interviews. 

On the virtual events front, the Financial times have taken a lifestyle event that is usually held in the confines of a London estate virtual, giving them the opportunity to connect with a more global audience. 

Conde Nast has gone all-in on virtual events, hosting the first-ever virtual event upfront, showcasing over 200 events across their properties that they hope will help drive advertising dollars. 

There’s no question that publishers are adapting to the current moment, and driving interesting, creative endeavors that truly bring value to everyone.

Publishing Power: Content Comeback

The industry took a hit. But we’re fighting back. We’re becoming more agile. We’re embracing new opportunities at an unprecedented rate. We’re in fighting shape and going strong. That gives me a lot of hope for the future for content publishers and advertisers alike.

Publishing And Paid Acquisition In A Pandemic

If you’ve dealt with any paid acquisition over your career before the pandemic, you probably know that there are a few basics to make it work. You add a pixel to your site and set up targeting, you decide on a business goal and track how many users complete it, and you optimize based on that. The thing is, there’s a whole world of possibilities when it comes to setting up a campaign that goes way beyond the basics. A lot of publishers are taking tracking and targeting to the next level and driving amazing success as a result. That’s what I want to talk about today, so let’s dive in. 

The Tip of the Iceberg Confession time: Up until recently, my knowledge of targeting and tracking basically ended with audience interests and demographics, a confirmation page, or a button click. I was surprised to discover the wealth of opportunities that the right kind of targeting can bring. More specifically, it never occurred to me that you can use your on-site audience behavior as a targeting strategy to drive high-value business goals. I’ll try to illustrate the point in generic terms: Let’s say you’re an online fashion store, and you have a surplus inventory of red high-heeled shoes. You can target women who have bought red shoes before, but that would probably be too narrow of an audience. 

You can target people who have visited your site in the past, but that would probably be too broad and inefficient. So instead, you target women who have browsed your high-heeled shoe section over the last 90 days. That can give you a true indication of interest and affinity while keeping it broad enough to achieve scale. Of course, publishers don’t usually sell shoes. For publishers, using first-party behavioral data can help identify people who are already familiar with the brand, and then hone in on behaviors that indicate affinity, and finally target those behaviors to drive ROI. 

So let’s take a look at how a few of them are putting this into practice. A Tale of 3 Publishers First let’s look at a tactic that I’ve discussed here before: subscription retention campaigns. Publisher A is an international brand whose primary revenue stream is paid subscriptions. The cost of their subscription is relatively high compared to the rest of the market, so it’s critical for that publisher to consistently show value to their subscribers. To that end, they’ve identified behavior patterns that indicate a risk for churn. 

If a particular user’s visits or pageviews are decreasing at a pre-defined pace, Publisher A identifies them and targets them with a re-engagement campaign. Of course, understanding the key behaviors and targeting accordingly requires some A/B testing to find the “sweet spot” between reach and overall cost. But the return on investment is clear, with the user’s lifetime value increasing significantly. At the end of the day, paying a few cents to retain a user that is potentially worth hundreds of dollars is very much worth it. 

While tracking behavior for subscription acquisition is a relatively common technique, there are publishers with other revenue streams that are making great use of this ability as well. Publisher B is a well known national paper with a niche audience. They recently revamped their app and were looking to get new users to install it. At first, they used a combination of lookalike and interest targeting. It was working fairly well compared to past campaigns, but there was definitely more scale potential. 

About a month into the campaign, they switched the targeting. They used their on-site tracking to identify and target users who had read two articles on their website within the past 60 days. This behavior was clearly an indication of familiarity with the brand and interest, and the results from adjusting the targeting strategy were dramatic: Over time, the cost per acquisition shrank by about 50% compared to other targeting methods, and the overall reach was on par. Not all campaigns lead to an acquisition, but behavioral targeting can still play a huge role in ROI. 

There are a few challenges associated with ad revenue campaigns — from finding the right balance between quality and scale, to the learning curve that happens when you launch — but adding behavioral data into that mix can make a huge difference. Publisher C was struggling to see a profit from their campaigns, and after an in-depth analysis of on-site user behavior, they started to see an interesting pattern. Basically, they achieved profitability from any user who scrolled through over 30% of their article content. 

So they decided to test this out further. They launched campaigns that were lookalikes of users that exhibited that behavior, and they also started targeting those high-value users specifically. The strategy proved to be incredibly effective: The right targeting combined with a consistent optimization strategy and effective campaign creatives brought publisher C into the green quickly, while also allowing them to scale. They’re continuing to test and analyze to see what else they can learn and what other targeting opportunities can arise from user behavior. 

The TL:DR Facebook campaigns offer what seem to be an infinite number of options when it comes to targeting and optimization. At the end of the day, publishers have one clear advantage: by nature, users spend a lot of time on their sites, giving clear cues and leaving a trail of insights in their wake. By using their own on-site behavioral data, publishers can drive incredibly effective results and with time, meet and exceed their goals. Have you been using on-site behavioral data to optimize your campaigns during the Covid-19 pandemic? We’d love to hear more about your content marketing, advertising, and revenue generation strategies in the Coronavirus economy.

By now, you’ve likely caught wind of The New York Times’ plan to buy the production company behind the hit podcast Serial, but that wasn’t the only exciting news coming from the world of podcasts this week. Despite listenership dipping by 10% during March and April, podcast downloads are now back up and higher than they were before the downswing earlier this year. And although lower than previous predictions, a recent IAB/PwC report projects that the podcast advertising market will still grow by 15% in 2020, likely driven in large part by direct-to-consumer brand advertising. Speaking of the IAB: this September, the organization will hold its annual Podcast Upfront event virtually for the first time. Given that iHeartMedia is among the more than twenty presenters set to preview their podcast programming during the event, there’s a good chance that advertisers will get a glimpse of the five new comedy podcasts that the company recently announced from its joint venture with comedian Will Ferrell. 

While the lines between media and technology have been blurring for a while, like many other aspects of work and home life, the events of this year seem to have sped up the rate of change for this trend as well. Apple recently launched a daily news podcast, and the biggest story in the space last week was SiriusXM’s acquisition of Stitcher for $350 million — the largest podcast deal to date.

What Is The Writing, Launching And Selling Process Of An eBook?

Getting an information eBook off the ground is one of the best ways to start earning online revenue. The process of writing, launching and making money with an eBook involves a lot more than most people realize. 

Launching an eBook is much like launching any other product. You first need to do extensive market research to make sure you’re creating a product that people want to buy. Then you need to spend a lot of time creating a good product so that people who buy it will buy again in the future. Finally, you need to market the product well so that your target audience knows about its existence. Here’s how to write, launch and sell your informational eBook. 

Before You Write A Single Word 

Before you write a single word, you need to do your market research. Doing your market research involves figuring out exactly who your target audience is. Once you know your audience, you then need to figure out what they want. 

Your audience should be a very specific group of people. For example, if you’re selling a weight loss product, “women” is far, far too generic. Instead, you might want to go for something like women in their 30’s who are about 40 pounds overweight. You might even want to go more specific than that: Housewives in their 30’s, 40 pounds overweight. 

This gives you a very specific market to cater to. It allows you to market to your highest ROI market segment. Once you know who you’re talking to, the next step is to figure out what they want. There are a few ways to do this. 

Writing The eBook 

Creating an eBook is quite a mission. An eBook is typically at least 20,000 words, often a lot more. That means a lot of time in front of the computer. You also need to ensure there are no errors, so you should utilize a grammar checker program to save money on an editor.

At times you may question whether or not you’re committed. At times you might wonder if the eBook will sell and whether you’re just putting all this effort into something that might just go down the drain. Staying motivated is a big part of success when it comes to writing an eBook. 

Launching & Selling Your eBook 

If you already have an audience, start by launching your book there. Announce your new eBook to your blog, your email list, your Facebook friends and your Instagram followers. If you don’t already have an email list, the going gets a little bit harder. First, start by seeing if you can find other people who have an audience to promote your book. If you’ve been in the industry for a while, chances are you know some other people who might have some influence. 

You can also try paid marketing. Using tools like Google AdWords, Microsoft AdCenter or Facebook Ads, buy Instagram likes from this link can be a powerful way to make an impact. 

Finally, try SEO. Create an informative website about your subject and create top-notch content about that topic. This method takes more time but can generate consistent traffic. 

Final Words

Getting an eBook off the ground takes dedication. Once it’s off the ground, however, it can generate a lot of revenue for years to come.