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Emerging Social Media Revenue Streams for Publishers of Magazines and Newspapers - Customer Direct 2012
 

Emerging Social Media Revenue Streams for Publishers of Magazines and Newspapers - Customer Direct 2012

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For Publishers of traditional print media (be they magazines or newspapers), there are 4 areas where social media can help Publishers: 1) engage better with readers, 2) drive traffic online and ...

For Publishers of traditional print media (be they magazines or newspapers), there are 4 areas where social media can help Publishers: 1) engage better with readers, 2) drive traffic online and offline, 3) broaden digital distribution and, 4) enhance ancillary revenue. There is debate on aggregation of titles or disaggregation of content.

And so, to take advantage of this, Publishers should articulate their current position and reader experience, develop a clear integrated strategy, enhance their internal digital and social media capability and deliver outstanding community management.

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    Emerging Social Media Revenue Streams for Publishers of Magazines and Newspapers - Customer Direct 2012 Emerging Social Media Revenue Streams for Publishers of Magazines and Newspapers - Customer Direct 2012 Presentation Transcript

    • Are You Afraid of Talking to Your Customers? Emerging Social Media Revenue Streams Dowshan Humzah, Director, The Worst Kept Secret Ltd. 12.00 Wednesday 21st November 2012 Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 1
    • What is ‘The Worst Kept Secret’? TWKS  A digital and social media lens across an organisation • Working across two areas: Capability and Community o Delivering bespoke training, strategic consulting and community management Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 2
    • Typical Publishing Business Drivers Improve reader experience and achieve profitable growth Publish/distribute more outstanding content (preferably paid for!) Reach fragmented audiences Across multiple platforms Create a customer lifetime journey for each audience group (conversation) Drive engagement Increase transactional behaviour Broaden touch-points Provide readers with additional opportunities to engage and transact Offer relevant products and services Compliment the core title experience Achieve KPIs (e.g. reader satisfaction, ad revenue, circulation, subscription, renewal, profitability, ancillary revenue) Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 3
    • Social Media Cuts Across a Publisher Marketing PR Editorial Operations Finance Brand/ Customer/ Acquisition Trade/ Consumer/ Corp Comms R&D/ Insights/ Product Sales/ Distribution Topline/ Cost Control/ Shareholders Digital and social media cuts across an organisation Readers/ Subscribers/ Prospects Influencers/ Advocates/ Media Readers/ Subscribers/ Prospects Customers/ Suppliers/ Readers Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 4 Board/ Shareholders/ Media
    • Direct Communications Flow  The focus is now on ‘conversation’ - opposed to ‘immediate conversion’ Integrated Marketing Conversation Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 5
    • The Traditional Communications Model  Digital and social media overlay across all phases now • • Reinforcing the need for true integrated marketing, channel and sales plans Providing opportunities for direct feedback and increasing engagement Narrowcast Mainstream Mass/Broadcast Following Masses Early Adopters •Social Media •SEO/Search •Community •Mobile Key Opinion Leaders Early Adopters Following Masses Source: Media Trumpet © Inspiration for Success Ltd. Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 6
    • Social Media and Targeting/Segmentation  Digital and social media defy traditional B2B ‘media segmentation’ • Representing more relevant horizontal segments especially for publishing Function Seniority Industry Location Aspirations May aspire to a certain ‘way-of-being’ in parts or across all walks of life Values Professionals' sense of personal, corporate and ‘community’ values Opinions Relevant local, national, international and social issues Beliefs Convictions linking apparently disparate individuals B2B Behaviour How company budget is spent (e.g. procurement/media consumption) Source: Media Target © Inspiration for Success Ltd. Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 7
    • TWKS’ 10 Elements of Social Media 6 Core Elements Social Media Strategy 1 NBT The Search Element Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 8 3 Value Based Elements
    • The 6 Core Elements of Social Media Content Communities Networks Blogs Bookmarking Micro Blogging Wikis Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 9
    • The 6 Core Elements Applied to Publishing Content Communities Networks Blogs Bookmarking Micro Blogging Wikis Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 10
    • Industry Insight “We are now in the content business. We are all publishers and broadcasters by default.” Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 11
    • What is Online Content Surveys Status updates (links) Images Video Blogging (Guest) Content Podcasts Infographs Apps Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 12 Webinars
    • The 4Cs Maximise Content Effectiveness Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 13
    • Context: Being Recognised Online Search Share Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 14 Discover
    • Industry Insight “People now decide when they consume content... we just need to be there.” Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 15
    • Three Basic Principles of an Online Conversation Digital Chatter Principles Listen Interpret Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 16 Respond
    • Conversation: Community Management Blogs Bookmarking Networks Micro Blogging Content Communities Wikis  “To keep the conversations going…” Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 17
    • Conversion: The So What!  “…to ensure conversion given an organisation’s objectives.” Business Objectives Digital and Social Media Objectives Marketing Objectives Sales Objectives Customer Service Objectives Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 18
    • Social Media and Your Website  Marketing and social media drive visitors to your website • Tools deliver volume and variety  Content no longer sits solely in the publication or the website • Can reside around the hub  Websites should deliver the core functions • • Engagement Conversion Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 19
    • The Next 18 Months: Final 4 Elements and Mobile Location Based Service s Social Comme rce Social Gaming Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 20
    • Learn from Other Industries  Could publishing go the way of music? Disaggregation Aggregation Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 21
    • Emerging Social Media Revenue Streams for Publishing Listening Traffic Driving -Reader Engagement -Editorial Input -Community Management -Online Monetisation (‘6 Elements’) -Conversations -Advertising Multi-Directional Conversations Ancillary Revenue -New Product Lines -Brand Experience -Cross Sell Digital Content -Mobile devices -Bundled content -Enhanced Experience (Location/Augmented Reality) Source: The Worst Kept Secret Ltd Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 22
    • Next Steps  Social media enhances your core revenue and reader experience • Listening is key across the 4 areas  Firstly, map and understand current activity (offline and online) • Integrate given your publications’ business objectives  Build capability internally • Improve skills in line with business, advertiser and reader objectives  Develop a clear strategy going forward • Have a programme for all relevant brands/titles  Develop digital and social media activity: community management • Strengthen engagement and readership Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 23
    • Many Thanks  Please contact us if you have any questions Dowshan Humzah Director, The Worst Kept Secret Email: dowshan@twks.co.uk www.linkedin.com/in/dowshan @worstkeptsecret Wednesday 21st November 2012 – PPA Customer Direct Conference – The Brewery, London Delivered by Dowshan Humzah © The Worst Kept Secret Ltd. CONFIDENTIAL - Slides for attendees only. Not for onward distribution or copy. Many thanks. 24