President | The Atlantic
The really successful media players understand itâs a totally different game. We look at ourselves less as being in the content business and more as being in the business of serving customer segments.
On one hand, youâve got your traditional media business modules, dominated by subscription streams and advertising streams. When you add in events, you move out of that traditional business model and into a more professional services or marketing services model.
Our digital revenue is up 55 percent while print is flat. Our events business is up 25 percent. That business is very different from the traditional media business in that weâre dealing with c-suite customers, not agencies. Itâs a shade closer toward what McKinsey or Boston Consulting Group do than to what a magazine traditionally does. Weâll sit down with a CMO and ask âWhat are your objectives with your brand vis-a-vis influential customer segments?â
The b-to-b world has gotten there faster and consumer media companies are changing into more b-to-b type models. The main thrust of this is the digital revolution and what thatâs done to advertising relationships. The traditional consumer media model is really smoke and mirrorsâbuy our brand, buy our audience, look at this arguably flawed, syndicated research that says people are reading.
Thatâs not good enough anymore. Marketers are saying, âSorry, when I can track ROI so much more effectively in digital, I canât buy into that anymore.â Consumer publishers are being forced, quite rightly, to provide a lot more accountability. They have to get into the database business, the lead generation business, and the events business.
Weâre running in this direction of creating content and experiences for a defined customer segment, but we havenât gotten to the lead generation side yet. Thatâs the holy grail.
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