John Cruickshank - Audience development - Reeling in readers and advertisers

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John Cruickshank - Audience development - Reeling in readers and advertisers

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64th World Newspaper Congress and 19th World Editors Forum

64th World Newspaper Congress and 19th World Editors Forum

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  • 1. Audience Insights John Cruickshank Publisher, Toronto Star , President, Star Media Group jcruickshank@thestar.ca September 2012
  • 2. Session Content• Strategic Outlook• Audiences – Strength in Numbers• Audience Insights – Research and Segmentation• Audience Insights in Action 2
  • 3. Torstar CorporationTorstar Corporation is a broadly based media company listed on the Toronto Stock Exchange (TS.B). Its businessesinclude the Star Media Group led by the Toronto Star, Canadas largest daily newspaper, and digital properties includingthestar.com, toronto.com, Wheels.ca, Workopolis, Olive Media, and eyeReturn; Metroland Media Group, publishers ofcommunity and daily newspapers in Ontario; and Harlequin Enterprises, a leading global publisher of womens fiction. 3
  • 4. Star Media GroupDigital Dailies Specialty 4
  • 5. How we define ourselvesStar Media Group is a growing network of regional and nationally‐based interrelated  i l d i ll b d i l dbusinesses that create compelling content  environments for well‐defined consumer  i f ll d fi d groups and the marketers who want to  reach them h h 5
  • 6. STRATEGIC PRIORITIES WHO WE AREINVESTMENTSInvest in people, quality journalism, marketing and digital opportunitiesFoster an agile, innovative and results‐driven cultureAUDIENCE INSIGHTSThrough market research and strategic planning, identify opportunities to grow audiences  g g p g, y pp gacross multiple markets and platformsCUSTOMER SOLUTIONSLeverage our content and advertising relationships across multiple platforms and partners to  g g p p p pprovide broader solutions to our customersREVENUE DIVERSIFICATIONDiversify our revenues by growing the influence of other print and digital businesses y yg g p gOPERATIONAL EFFECTIVENESSAlign costs with revenue realities to ensure long term successImprove our speed to market 6
  • 7. Our strategy is to stabilize our core business and to grow a portfolio of products that consists of line extensions and opportunities that appeal  to our target audiences to our target audiences SMG Business Position 2012 yourcitybiz Queen’s Park Briefing Core Close to New N Core Competencies Capabilities Spectrum Assumptions: • Digital integration across all business activities g g • Portfolio focus – multiple smaller wins • Assumes we are not only content centric • Toronto Star revenues and profits diminish over time 7
  • 8. Session Content• Strategic Outlook• Audiences – Strength in Numbers• Audience Insights – Research and Segmentation• Audience Insights in Action 8
  • 9. The Toronto Star is the most read weekday newspaper in Canada. Average Weekday Readership – Adults 18+1,250,000 1,223,3001,000,000 978,600 750,000 642,400 597,900 529,900 529 900 500,000 449,800 436,500 420,600 407,000 364,900 250,000 0 STAR(TO) GLOBE(CA) SUN(TO) LE JOURNAL(MO) METRO(TO) SUN(VA) LA PRESSE(MO) POST(CA) PROVINCE(VA) 24HRS(TO) Weekday Weekday Weekday Weekday Weekday Weekday Weekday Weekday Weekday WeekdaySource: NADbank 2011 Full ReportBase: All Markets & Toronto Extension, Adults 18+ (19,993,700) 9
  • 10. In Toronto, the Saturday Star’s print readership is larger than the total print and online weekly readership of the Globe and Mail (our primary competitor) Toronto Adults 18+ > Saturday Star Globe Print + Online One Day 6 Day Cume 1,181,000 1,116,500Source: NADbank 2011 Full Report; Toronto CMA, Adults 18+ 10
  • 11. Saturday Star = Top Toronto TV Shows Toronto 18+ Toronto 2+ = + Big Bang Theory Survivor: One World 608,000 608 000 550,000 550 000 Saturday Star 1,181,000 , ,Star Source: NADbank 2011 Full Report; Toronto CMA, Adults 18+ (4,569,400)TV Source: BBM Canada , Toronto /Hamilton 2+, Average Minute Audience , Week of April 2-8, 2012 11
  • 12. While the Star provides a dominant regional audience, Metro is expanding audiences across the country Edmonton Vancouver Saskatoon Victoria Calgary Regina Halifax Winnipeg Ottawa Kitchener Toronto = Metro Print & Digital g London Hamilton = Metro Digital Windsor 12
  • 13. Metro – Canada’s largest weekday newspaper title Average Weekday Readership – Adults 18+ 1,500,000 1,492,700 1,250,000 1,223,300 1,208,300 1,086,1001,000,000 978,600 750,000 500,000 250,000 0 METRO STAR SUN 24 HRS GLOBESource: NADbank 2011 Full ReportBase: All Markets & Market Extension Adults 18+ 13
  • 14. The Star and Metro provide large web audiences Online Online 9.6 million unique visitors/month .9 million unique visitors/month 77 million page views/month 3 million page views/month Mobile MobileOver 23 million page views/month Over 3 million page views/monthSource: Omniture – May 2012 14
  • 15. Star + Metro English (Print & Online) audience bigger than Canada’s 2nd largest city Canada s ~ Star + Metro English Print & Online Toronto CMA Montreal CMA Net Weekly Audience 5.8 million 3.9 million 4,975,400 , ,Audience Source: NADbank 2011 Full Report; Base: All Markets & Toronto Extension, Adults 18+ (19,993,700)Metro English = 6 Markets: Vancouver, Edmonton, Calgary, Toronto, Ottawa, and Halifax 15Star print is only measured in Ontario; Star online is measured outside Ontario in Vancouver, Edmonton, Calgary, and MontrealToronto CMA Total Population Source: FP Markets Canadian Demographics 2011
  • 16. Session Content• Strategic Outlook• Audiences – Strength in Numbers• Audience Insights – Research and Segmentation• Audience Insights in Action 16
  • 17. Audience Insight Sources PMB NADbank PopulationStatistics Canada comScore Omnibus Studies CCAB Other Panels Customers Generation5 PMB /Readers / Visitors Proprietary Studies NADbank Can also tell us aboutProprietary Studies SubscribersCan also tell us about Panels EmployeesStar Advisers PanelResearch & Analysis of Media (RAM ) Panel Proprietary Studies Subscriber Database Generation5 17
  • 18. Audience Segmentation assists in understanding currentcustomers, potential customers and how best to serve them. 18
  • 19. However, Audience Segmentation pitfalls can range from too simple to far too complex to be actionable. 19
  • 20. After considering many different segmentation models, we splitthe market into 21 segments based on age, income and presence of kids in the household. Young: Age <45, Families: Mature: Age 45+, No Kids <18 at Home Kids <18 at Home No Kids <18 at Home Age 18-29, 18 29, Age 30-44, 30 44, Kids <6, HHI$100K+ 6, HHI$100K Age 45-64, 45 64, Age 65+, 65 , HHI$100K+ HHI$100K+ (274,000) F1 HHI$100K+ HHI$100K+ (234,000) (166,000) (331,000) (63,000) Kids 6-11, HHI$100K+ (272,000) F2 Y1 Y2 Kids 12-17, HHI$100K+ 12 17 M1 M2 (290,000) F3 Age 18-29, Age 30-44, Kids <6, HHI$50-$99K Age 45-64, Age 65+, HHI$50K-$99K HHI$50K-$99K (289,000) F4 HHI$50K-$99K HHI$50K-$99K (238,000) (238 000) (205,000) (205 000) (352,000) (352 000) (131,000) (131 000) Kids 6-11, HHI$50-99K (286,000) F5 Y3 Y4 Kids 12-17,HHI$50-99K M3 M4 (340,000) F6 Age 18-29, Age 30-44, Kids <6, HHI<$50K Age 45-64, Age 65+, HHI<$50K HHI<$50K (216,000) F7 HHI<$50K HHI<$50K (158,000) (86,000) (287,000) (423,000) Kids 6-11, HHI<$50K ( (200,000) , ) F8 Y5 Y6 Kids 12-17, HHI<$50K M5 M6 (169,000) F9 20
  • 21. Seven key segments emerged from the ranking analysis – based on the propensity to consume media and spend money. Perception Map: 21 Segments Total Media Usage (8)/All Consumer Spend (32) 20 KEY TARGET ZONE F3 ndex F2 Y2 M2 M1 r Spending In F1 Y1 15 Y3 M3 Consumer F5 F4 F6 Y4 M4 F8 F7 M6 F9 Y6 Y5 M5 10 11.5 14.5 17.5 Media Usage Index 21
  • 22. The segmentation is used in strategic development for both filling- the-target-gaps and drawing from developed targets. Y1 Y2 F1 F2 F3 M1 M3 Primary Target Secondary Target 22
  • 23. Target Audience Summary Y1 - URBAN HIPSTERS [ Young educated individuals living in a household with high income ] ou g du d d du s g ous o d g o “Drinking is Part of My Lifestyle” “Low Fat Foods are Important Part of My Regular Diet Diet” “I Can’t Imagine My Life Without the Internet” “I am More of a Spender than a Saver” “I Love Expensive Sports Cars” I Cars “I Enjoy Keeping Fit” I Fit“I Like to Have a Wide Variety of Snacks” “I Tend to be the First to Own New Electronic Products” “I am Very Interested in Unfamiliar I Vacation Destinations” “I Really Enjoy Shopping for Clothes”Uniquely Recognized: Consumption Habits: Highly Engaged: Diverse and Cultured  Average Shoppers • News & Social Media sites Active and Adventurous  Early Adapters • News, Entertainment and Arts print publications Health and Tech Enthusiasts  Heavy Media Consumers • Movies and Situation Comedies programming • Tuned into the Modern Rock & Top 40 Hits T di h M d R k T HiSource: PMB 2012 Spring 2 Year Study; Base: Toronto CMA, Adults 18+*Based on Y1 Segment
  • 24. Session Content• Strategic Outlook• Audiences – Strength in Numbers• Audience Insights – Research and Segmentation• Audience Insights in Action 24
  • 25. Audience Insights in ActionCurrent Subscribers – Maximizing Revenue Challenge: - Declining revenue from lower circulation volumes Audience Insights: - Variances in customer behaviour by: - geography - payment type - tenure - demographic - Strong core of loyal subscribers - Support quality journalism Actions: - New subscription pricing model -M i i Maximizes revenue, minimizes attrition i i i tt iti 25
  • 26. Audience Insights in ActionStarWeek – Saturday Opt-in Section Challenge: - Declining ad revenues in TV book Audience Insights: - Under-serving dedicated readers - Over-serving non-readers Actions: - Improved/enhanced content - Paid opt-in model p “More information is certainly the most important thing for me” “Just tell me what s on TV” Just what’s TV 26
  • 27. Audience Insights in Action New York Times – Sunday Opt-In Section Challenge: - Declining ad revenues on Sunday Audience Insights: - More content needed on Sunday - Need to improve international news Actions: - Launched section - Paid opt-in model Congratulations to The Star for giving subscribers the chance to receive it.Great service at a reasonable price. Much better than the full Times (that I have subscribed to in the past) - as it is a manageable size The best paper in the country gets better with this addition. The articles are well written, well researched and represent a good cross section of the full edition NYT crossword puzzle is great. And the book reviews are as good as any that I ever read. Enjoy their (NYT Book) review to the point that I usually buy one selection that they discussed and have not been disappointed 27
  • 28. Audience Insights in ActionWorld Weekly – Saturday Subscriber Section Challenge: Ch ll - Satisfaction gap – high interest in international news but low content rating Audience Insights: - Invest in more international news - More international perspectives Actions: - Launched special section - Home delivered copies only I LOVE the new "World" section! The World section is impressive The new World section is great - something I have wanted for years still my favourite paper - like the new World section a LOT. Love the paper & all its efforts to improve! Thanks Thanks. 28
  • 29. Audience Insights in ActionThe Grid – Alternative Weekly Challenge: - Declining ad revenues - Readership instability, distant 2nd in marketplace Audience Insights: - Low content rating - Need for competitive differentiation - Attractive target audience (Adults 25-39) Actions: - Launched repositioned publication - New content strategy 29
  • 30. Audience Insights in Action The Kit – Fashion Content Challenge: - Audience not reached by SMG - Underdeveloped ad category for newspapers Audience Insights: - Key target audience (Women 25-49) - Niche but committed audience Actions: - Purchased digital magazine - Added section to Thursday Star 30
  • 31. Audience Insights in ActionMake Investments, But Be Prepared For Challenges 31
  • 32. SMG brands - diversified platforms to fuel growth Target Audiences Platform Products Printed Publications - Paid Y1 Printed PublicationsY2 - Free Printed Opt- in Products - F2 Paid Digital Consumer Products - F3 Free Digital g F1 Consumer M3 Work in Progress Products - Paid M1 Email & Database Marketing 32
  • 33. John Cruickshank Publisher, Toronto StarPresident, Star Media Group jcruickshank@thestar.ca jcruickshank@thestar ca 33