Selecting the best product development opportunities

10 – 12 October 2011, Vienna, Reed Messe WienMedia PortSession: Innovative AdvertisingTitle: Selecting the best product development opportunitiesSpeaker: Audra Martin, The Economist

Selec%ng the best product development opportuni%es for your business Audra Mar%n Vice President, Customer engagement & Opera6ons, The Economist online Tom Ricca-‐McCarthy Global Sales Director, Madgex

Revenue poten6al in our industry Source: Morgan Stanley Internet Trends 2010

Revenue poten6al in our industry In 2010 total UK online ad spending was £4 billion, 25% of total marke6ng spend, only 1% behind television Source: IAB/PwC

Challenges Compe%%on Dynamic environment Limited exper%se Limited resources

Challenges  Opportuni%es   What is compelling and valuable to our customers?   What will customers and clients pay for and how much?   What is the right balance of revenue streams to mi%gate risk?   Does this ﬁt our brand and mission?   Do we have what we need? Does someone else?

Distrac%on or opportunity? Will this help me achieve my strategy?

Vying for your %me & resources

Social media: distrac%on or opportunity? Source: Search Engine Journal: http://www.searchenginejournal.com/the-growth-of-social-media-an-infographic/32788/

Relevant to publishers Source: Search Engine Journal: http://www.searchenginejournal.com/the-growth-of-social-media-an-infographic/32788/

Approach must match to strength of medium Immersive Con6ngent Subscrip6on Adver6sing

Ready to commit? Understanding Answers ques%ons Market trends What is compelling & valuable? Customer behaviour On brand / mission? Product strengths Develop new or partner?   Opportunity:  Priorities:  Approach: Commit your resources to what is important

Where has it gone right? Case study: Madgex white label jobs board replaces legacy classiﬁeds system

Old to new   Outdated branding & design   No product management/ roadmap   No up-sell opportunities   Limited SEO value

Star%ng the process  What is compelling and valuable to our customers and clients?  What is that value worth?  Is the cost reasonable? Does this increase or reduce risk to our revenue streams?  Does this ﬁt the brand and our mission?  Oﬀ-‐the-‐shelf or bespoke? Do we have what we need? Does someone else?

Commitment of resources Understanding Answers ques%ons Market trends What is compelling & valuable? Customer behaviour On brand / mission? Product strengths Develop new or partner?   Opportunity: Brand & audience alignment to international exec-levelrecruitment offering  Priorities: mature but evolving recruitment solution platform; neededto resonate with customers & clients; be off legacy platform within 2 months  Approach: Competition & best practices clear among 3rd partyrecruitment solutions; bespoke not important

Madgex perspec%ve  What an amazing global brand and high quality audience  They really needed to work with some experts (limited exper2se)  We are 11 years old this month  We are 50 highly innova6ve job board geeks powering 200 major news and publishing brands (limited resources)  They needed a best in breed solu6on, a signiﬁcant increase in capability and that leadership to be maintained  And they needed it fast

Old to new   Branding & designinline with main site  Better tools forcustomers  Expanded valueproposition recruiters  Improved SEO,better awareness

So from our perspec%ve  In 7 weeks we put in our award winning platform And we constantly add to that to keep The Economist competitive

Change and impact •  Project: Replace legacy classifieds product (7 wks) •  Results –  Traffic: Triple page views in first full month –  Revenue: Increased self-‐service sales by 30% –  Job seekers database: 1000 in first six weeks •  Other benefits –  Value proposi6on improved: posi6ons, audience, applica6on rate –  SEO  minimal marke6ng costs to realise benefits –  Madgex provides product improvement roadmap –  Minimal impact on internal teams

Thank you Audra Mar6n VP Customer engagement & Opera6ons, The Economist online audramar6n@economist.com Twiger: audranyc Tom Ricca-‐McCarthy Global Sales Director, Madgex www.madgex.com tom.ricca-‐mccarthy@madgex.com Twiger: madgex Stand : A331

Selecting the best product development opportunities

by WAN-IFRA on Nov 07, 2011

Accessibility

Categories

Tags

Upload Details

Usage Rights

2 Embeds 16

Statistics

Selecting the best product development opportunities — Presentation Transcript

http://paper.li	15
http://us-w1.rockmelt.com	1