Folio: Show Coverage: CMO Keynote Panel Discusses Strategies in a Changing World
Four CMO's from across the magazine publishing industry provide insight during breakfast keynote panel discussion.
NEW YORK—The final day of the Folio: Show here at the Marriott Marquis began with a breakfast keynote panel discussion featuring four magazine publishing CMOs.
As marketing managers in a rapidly changing industry, Jonathan Hunt, global marketing VP at Vox Media, Elizabeth Burnham Murphy, CMO of Bonnier Corp., Minna Rhee, CMO at SourceMedia and Michael Monroe, VP of advertising at Forbes collectively shed light on what’s worked for them when attempting to reach new audiences on multiple platforms, and by extension sell those audiences to advertisers.
While attendees numbering in the hundreds finished breakfast in the Westside Ballroom, Hunt described the way Vox analyzes and organizes audience data.
“We over-index for purchase power and factors like readers with higher education,” Hunt said. “Data ops allows us to find specific audiences, wherever they live in our portfolio of brands.”
“Highlighting audiences has become critical, shining a light on our reader base and allowing us to segment our brands into like-minded groups,” added Murphy.
Rhee echoed those sentiments, explaining how standardizing experiences across SourceMedia’s various B2B brands and targeting audiences across different sites opened up a number of new sales opportunities.
“Many clients came looking for specific brands to advertise with,” Rhee continued. “The solution we found as we went deeper into those conversations was that we can actually sell across a number of brands.”
The discussion then turned from ways of generating audience and data analysis to ways of using it to position brands as powerful connections between advertisers and readers.
“We have increasingly been asked to take over content from a nuts and bolts standpoint,” said Monroe. “What we did was bring formerly separate teams together and created a formal internal studio—a full service offering. This started new conversations with clients about our capabilities.”
“For a long time, brands were told, ‘Think like a media company,’” Hunt added, “We can be that solution.”
“Clients look to us to create branded content because we know our audience, we have a trusted voice and we’ve been speaking to that audience for years,” said Murphy.
Diversity in services, too, is rapidly becoming a major component of marketing and building a client-publisher connection.
“A big area taking off in client services is customer research,” said Rhee. “We have the audience. We have an understanding of how to speak to them. That conversation feeds on itself and really builds a powerful relationship with clients.”
Another service magazine publishers can offer is live events, said Hunt. Monroe agreed, stating that it was one of the areas in which Forbes has seen considerable growth, along with an increasing international presence which, in turn, has opened even more event possibilities.
“Services can go anywhere from social media, to events, to media planning,” said Murphy, adding, “Recently, we’ve seen tremendous growth in brand licensing, such as our Outdoor Life clothing line.”
The ever-present changes in the ways readers access and perceive magazines—and in the readers themselves—continually necessitates creativity and flexibility among marketers, publishers and editors alike. One thing that is clear, though, is that a magazine’s most powerful leveraging tool is the intimate knowledge of and constant reach to an engaged audience whose trust has not only been earned, but carefully maintained.