IFRA EXPO - "Selecting the best product development opportunities for your business" - Audra Martin & Tom Ricca-McCarthy
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IFRA EXPO - "Selecting the best product development opportunities for your business" - Audra Martin & Tom Ricca-McCarthy

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Case study given at the IFRA EXPO Vienna, October by Audra Martin, Vice President, Customer engagement & Operations, The Economist online and Tom Ricca-McCarthy, Global Sales Director, Madgex. ...

Case study given at the IFRA EXPO Vienna, October by Audra Martin, Vice President, Customer engagement & Operations, The Economist online and Tom Ricca-McCarthy, Global Sales Director, Madgex.


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  • 1. Selecting the best product development opportunities for your business
    Audra Martin
    Vice President, Customer engagement & Operations, The Economist online
    Tom Ricca-McCarthy
    Global Sales Director, Madgex
  • 2. Revenue potential in our industry
    Source: Morgan Stanley Internet Trends 2010
  • 3. Revenue potential in our industry
    In 2010 total UK online ad spending was £4 billion, 25% of total marketing spend, only 1% behind television
    Source: IAB/PwC
  • 4. Challenges
    Competition
    Dynamic environment
    Limited expertise
    Limited resources
  • 5. Challenges  Opportunities
    • What is compelling and valuable to our customers?
    • 6. What will customers and clients pay for and how much?
    • 7. What is the right balance of revenue streams to mitigate risk?
    • 8. Does this fit our brand and mission?
    • 9. Do we have what we need? Does someone else?
  • Distraction or opportunity?
    Will this help me achieve my strategy?
  • 10. Vying for your time & resources
  • 11. Social media: distraction or opportunity?
    Source: Search Engine Journal: http://www.searchenginejournal.com/the-growth-of-social-media-an-infographic/32788/
  • 12. Relevant to publishers
    Source: Search Engine Journal: http://www.searchenginejournal.com/the-growth-of-social-media-an-infographic/32788/
  • 13. Approach must match to strength of medium
    Contingent
    Immersive
    Subscription
    Advertising
  • 14. Ready to commit?
    Market trends
    Customer behaviour
    Product strengths
    What is compelling & valuable?
    On brand / mission?
    Develop new or partner?
    Understanding
    Answers questions
    Commit your resources to what is important
  • 17. Where has it gone right?
    Case study:
    Madgex white label jobs board replaces legacy classifieds system
  • 18. Old to new
    • Outdated branding & design
    • 19. No product management/ roadmap
    • 20. No up-sell opportunities
    • 21. Limited SEO value
  • Starting the process
    • What is compelling and valuable to our customers and clients?
    • 22. What is that value worth?
    • 23. Is the cost reasonable? Does this increase or reduce risk to our revenue streams?
    • 24. Does this fit the brand and our mission?
    • 25. Off-the-shelf or bespoke? Do we have what we need? Does someone else?
  • Commitment of resources
    Market trends
    Customer behaviour
    Product strengths
    What is compelling & valuable?
    On brand / mission?
    Develop new or partner?
    Understanding
    Answers questions
    • Opportunity: Brand & audience alignment to international exec-level recruitment offering
    • 26. Priorities:mature but evolving recruitment solution platform; needed to resonate with customers & clients; be off legacy platform within 2 months
    • 27. Approach: Competition & best practices clear among 3rd party recruitment solutions; bespoke not important
  • Madgex perspective
    • What an amazing global brand and high quality audience
    • 28. They really needed to work with some experts (limited expertise)
    • 29. We are 11 years old this month
    • 30. We are 50 highly innovative job board geeks powering 200 major news and publishing brands (limited resources)
    • 31. They needed a best in breed solution, a significant increase in capability and that leadership to be maintained
    • 32. And they needed it fast
  • Old to new
    • Branding & design inline with main site
    • 33. Better tools for customers
    • 34. Expanded value proposition recruiters
    • 35. Improved SEO, better awareness
  • So from our perspective
    • In 7 weeks we put in our award winning platform
    • 36. 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 proposition improved: positions, audience, application rate
    SEO  minimal marketing costs to realise benefits
    Madgex provides product improvement roadmap
    Minimal impact on internal teams
  • 37. Thank you
    Audra Martin
    VP Customer engagement & Operations, The Economistonline
    www.economist.com
    Twitter: audranyc
    Tom Ricca-McCarthy Global Sales Director, Madgex
    www.madgex.com
    Twitter: madgex
    Stand : A331