Michael DeLuca: Director of Business Development, ADVANSTAR
DeLuca is taking ideas from editors and managers and turning them into successful businesses.
Launching a successful business means checking your ego at the door and doing your homework, says Michael DeLuca, director of business development at Advanstar Communications." Having been a group publisher and chief editor in the past, sometimes you think this is not the way I would do this," he adds. "But my job in business development is to take the ideas generated by the editors and managers and turn them into businesses."
Since joining Advanstar two years ago, DeLuca, a public-relations executive turned Internet entrepreneur, turned corporate business developer, has concentrated on creating new revenue streams by increasing the presence of the once-stodgy, print-based Advanstar on the Internet.
With DeLuca’s guidance, Advanstar launched Dentalproducts.net in 2005, which netted revenue in the six figures its first year and is on track to net the company seven figures this year. Advanstar also launched the vertical search engines, Dental Explorer Search, which raised its initial revenue by selling category sponsorships for $5,000 a month for a one-year contract; and a veterinarian version called VetMedSearch. In 2005, Advanstar’s Internet-driven products brought in $18.5 million in revenue. "Every product we launch generates revenue immediately," he says.
Last year, DeLuca also helped the company launch the Off-Road Impact tradeshow and conference to complement the 2004 launches of Dirt Sports and Off-Road Business magazines; and a new dental conference called Digital Radiography Congress. The launches netted the company combined revenue of $1.3 million.
Next up is generating the company revenue from VetMedSearch by launching on online store, which will allow companies to buy keywords in a self-service mode. "You have to be nimble these days," DeLuca says.
VITAL STATS: In 2005, Internet products generated $18.5 million in revenue for Advanstar.