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ASTECH InterMediaRoundtable on Strategic Marketing August 23, 2004 Tom Whitfield Cox Enterprises, Inc.
Agenda Challenges Trends What we can do about it 2
1. Internet Look at impact of the internet on both subscribers and readers and how to derive and drive value. Which really speaks to two broad objectives: Targeting Audience Analysis – Subscriber cross and up- – Migration patterns selling – Complimentary and/or – Consultative selling for Ad sales Cannibalistic – Optimize reader value – Techniques; Site traffic irregardless of media analysis and survey – Techniques: In-depth customer analysis and segmentation 3
2. Market landscape today Online.app4 Subscribers Single Copy Online.app3 Non-subs Private Party Online app1 Classifieds Online.paper/city site Online.app2 4
3. Operating landscape Subscribers/Audience Advertisers 1 3 Circ Database Print Dialer Street Address File TMC Ad news.com dot.classifieds dot.jobs dot.car dot.homefinder Billing System Web metrics Online User Reg. E-mail Database Database ELerts 2 4 5
Trends Changing demos, lifestyle, technology@home Economy recovery flakey Classified products under fire Business metrics trending wrong way Niche publications (rev, printing and distribution limitations) Internet activity on the rise, monitization proportionally slow to follow “More are on the way, we just don’t know what they are” 6
1. Break down the silos Circulation & Adv Single focus on market with common mission Editorial & Marketing “Reduce the Us and Them’s” 7
2. Get inside your major Advertiser’s head • Info on targeting • Distribution • Online • Competitive environment • Expectations Doesn’t do us much good if it stays there… 8
3. Don’t chase every warm body Advertiser Segments Subscriber Segments 9
4. Figure out what a subscriber costs you Credits (+) Debits (-) – Paid premium * Est – Acquisition cost retention – Re-acq cost ( 2X’S) – Ad Demand / pre-prints – Discount – Carrier cost – Paper/ink – Premium $$ – Retention calls, ltrs, wraps = Subscriber value You need to work on getting this number 10
5. Determine the direction of your newspaper,000 1990 1995 2000 2005 Core Subs Marginal Subs Rev Cont What are you going to do about it? 11
6. Get really ready for the internet List the top three things you can do to monetize your investment Do them and do not waiver Find out how non-newspaper subscription businesses make money? – NAME THREE NOW 12
7. Develop a strategic plan Extend it beyond 6 – 12 months Assign a keeper, revise as needed and share often Keep the major initiatives to no more than 5 13