CEO Perspectives 2013: Michael Biggerstaff
CEO | Nxtbook Media [Sponsored Content]
What is the most important innovation/disruption coming in media in the next 12 months?
Weâ€™re seeing a tremendous upsurge in the need for responsive design solutions. As mobile and tablet devices have increased in usage, our customers first responded by creating mobile sites and native apps. Five years later, they have all of these platforms that, while arguably effective for the user, require different code bases, different designers and different skill-sets. By working with responsive design, our customers are able to cover all of their platform bases without having to triple their workload.
When you look at your customers, what are the most interesting initiatives you're seeing that are critical to success going forward?
The aforementioned responsive design is a cost effective way to deliver content to all devices but whatâ€™s equally as critical is the need for revenue generation models specific to the medium. Our smartest publishers realize that theyâ€™re no longer in the real estate business, just selling space to their advertisers. Theyâ€™re actively engaged in making certain that what happens within that real estate is good for the reader and the sponsor.
What are the most significant industry pain points?
From a production standpoint, itâ€™s certainly the myriad of platforms, most of which are coded and created differently. This creates a fracturing of the audience and one that â€“ more important â€“ isnâ€™t scalable to respond to, unless publishers embrace responsive design.
From an advertising perspective, itâ€™s getting away from the old. With click through rates solidly in the basement, itâ€™s vital that publishers run â€“ at top speed â€“ away from a medium that no longer is providing a solid return on investment. Unless your site is delivering millions of impressions a month, the CPM model wonâ€™t sustain you. The sooner you can face this reality, the quicker you can seek different, more profitable avenues
What new sources of revenue are most promising for media companies?
Our responsive design platform includes what we feel is a fairly revolutionary product. Itâ€™s called Click-Skip.
The majority of our customers are niche publishers. They donâ€™t have a mass quantity of readers. However, they do have a highly qualified audience that their advertisers crave to reach. But if youâ€™re selling on quality, the CPM model is simply shooting yourself in the foot. Rather than providing advertisers an ad they have to click on, our Click-Skip actually embeds the advertisersâ€™ websites directly within the platform. This provides advertisers with an immediate spike in website traffic, and assuming they are advertising with the right partner, that spike in traffic is highly qualified.
How are you innovating on behalf of your customers? Where are you focusing, and why?
We believe that innovation for the sake of innovation, while sometimes fun, is often a foolâ€™s errand. At every stage of innovation, we are deeply committed to ensuring that what we develop will solve major problems that our customers are experiencing on a daily basis. So to determine where we focus, we simply ask our customers what theyâ€™re most concerned about. They provide us with their challenges and we work tireless to overcome them.