CUNY, New Biz Models for News 11.09

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Presentation to students, bloggers, editorial & newsroom personnel at CUNY. Nov. 2009
New York City. New Business Models for News with Jeff Jarvis

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  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • mel taylor media NAB Radio Show 9.23.09
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • How Smart Radio Stations Leverage Interactive Assets Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address]
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • MelTaylorMedia.com 267-625-5313 Mel Taylor Media
  • Take share from cable and local tv. Embed these on your site. Charge flat fee. mel taylor media
  • Take share from cable and local tv. Embed these on your site. Charge flat fee. mel taylor media
  • mel taylor media NAB Radio Show 9.23.09
  • NAB Radio Show 9.23.09 Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address]
  • NAB Radio Show 9.23.09 Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address]
  • How Smart Radio Stations Leverage Interactive Assets Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address]
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • mel taylor media NAB Radio Show 9.23.09
  • NAB Radio Show 9.23.09
  • NAB Radio Show 9.23.09 Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address]
  • NAB Radio Show 9.23.09 Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address]
  • mel taylor media NAB Radio Show 9.23.09
  • mel taylor media NAB Radio Show 9.23.09
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • Radio Advertising Bureau Webinar 6.18.09 Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address]
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • How Smart Radio Stations Leverage Interactive Assets Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address]
  • MelTaylorMedia.com 267-625-5313 NAB Radio Show 9.23.09
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • How Smart Radio Stations Leverage Interactive Assets Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address]
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • How Smart Radio Stations Leverage Interactive Assets Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address]
  • How Smart Radio Stations Leverage Interactive Assets Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address]
  • Mel Taylor Media 267-625-5313 www.MelTaylorMedia.com [email_address] NAB Radio Show 9.23.09
  • CUNY, New Biz Models for News 11.09

    1. 1. MelTaylorMedia.com [email_address] 267-625-5313 Hyper-local Online Revenue Strategy November 11, 2009 Presented by Mel Taylor
    2. 2. <ul><li>I’m a journo… </li></ul><ul><li>I don’t do numbers </li></ul><ul><ul><li>if you want to </li></ul></ul><ul><ul><li>succeed online </li></ul></ul><ul><ul><ul><ul><ul><li>learn </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>sales </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>& business </li></ul></ul></ul></ul></ul>
    3. 3. mel taylor background <ul><li>newspaper </li></ul><ul><li>television </li></ul><ul><li>sales management </li></ul><ul><li>content, production </li></ul><ul><li>radio </li></ul><ul><li>internet </li></ul><ul><li>talent, reporter </li></ul><ul><li>sales training </li></ul>
    4. 4. Mel Taylor Media recent client list
    5. 5. hey… we’re into digital ! we use twitter & blogs ! we put the paper online via PDF ! is this you ?
    6. 6. gonna build a news site then pray that sales magically appear
    7. 7. Pulitzers never made Newspapers great businesses Local Distribution Monopolies made Newspapers great businesses
    8. 8. web revenue just out of reach ?
    9. 9. i am slightly taller than jeff due to my strategic use of mousse fun fact
    10. 10. Help me. I am... EZ Web Selling
    11. 11. best revenue practices <ul><li>publisher think </li></ul><ul><li>kill sacred cows </li></ul><ul><li>overcoming common objections </li></ul><ul><li>premium ad units & positions </li></ul><ul><li>dayparting, SOV, roadblocks </li></ul>
    12. 12. best revenue practices <ul><li>advertiser education </li></ul><ul><li>simplify sales packages & presos </li></ul><ul><li>hybrid rev models e-commerce, events, etc </li></ul><ul><li>advertiser-based videos </li></ul><ul><li>data-base & email </li></ul>
    13. 13. think publisher <ul><li>profit </li></ul><ul><li>operations </li></ul><ul><li>editorial </li></ul>
    14. 14. mandatory re-think design… tech…editorial must think revenue too
    15. 15. slaughter these sacred cows <ul><li>editorial drives business model strategy </li></ul><ul><li>sales is necessary evil </li></ul><ul><li>build content, dump off to sales </li></ul><ul><li>your offline brand wins online </li></ul><ul><li>cpm-only banner selling </li></ul><ul><li>over-reliance on remnant ad networks </li></ul>
    16. 16. simple solution <ul><li>look for outside guidance </li></ul><ul><li>select tactics from web revenue leaders </li></ul><ul><li>mix with your unique strengths </li></ul>
    17. 17. core business <ul><ul><ul><ul><li>journalism </li></ul></ul></ul></ul><ul><ul><ul><ul><li>content creation </li></ul></ul></ul></ul><ul><ul><ul><ul><li>advertising </li></ul></ul></ul></ul><ul><ul><ul><ul><li>websites </li></ul></ul></ul></ul><ul><ul><ul><ul><li>enabling commerce </li></ul></ul></ul></ul>
    18. 18. how to overcome common objections <ul><li>not interested in web </li></ul><ul><li>already on Google </li></ul><ul><li>already have website </li></ul><ul><li>can’t see my ad </li></ul><ul><li>too expensive </li></ul>
    19. 19. how many hits do you get? <ul><ul><ul><li>Q: how do i respond to this </li></ul></ul></ul><ul><ul><ul><li>local advertiser question? </li></ul></ul></ul><ul><ul><ul><li>A: client just wants to know if you have traffic. </li></ul></ul></ul><ul><ul><ul><li>while you can quote page-views & uniques, </li></ul></ul></ul><ul><ul><ul><li>the small biz owner will likely have no idea </li></ul></ul></ul><ul><ul><ul><li>if those numbers are good or bad. </li></ul></ul></ul><ul><ul><ul><li>Instead, show simple chart of your GROWTH… </li></ul></ul></ul>
    20. 20. Online USER Growth Monthly Visitors 24,000 12,000 30,000 Source: ___________
    21. 21. Online PAGEVIEW Growth 242,000 114,000 281,000 Monthly Pageview Growth Source: ___________
    22. 22. <ul><li>video </li></ul><ul><li>revenue </li></ul><ul><li>sales </li></ul>
    23. 23. best revenue-producing VIDEO practices <ul><li>video in banner </li></ul><ul><li>sales-based video player </li></ul><ul><li>search optimize video </li></ul><ul><li>online info-mercials </li></ul><ul><li>seed multiple channels </li></ul>it’s NOT pre-roll….yet
    24. 24. online video that pays
    25. 25. common video mistakes that scare advertisers <ul><li>inconsistent quality </li></ul><ul><ul><li>production value </li></ul></ul><ul><ul><li>composition, sound & lighting </li></ul></ul><ul><li>fear of user generated content: UGC </li></ul><ul><li>subject matter doesn’t require video </li></ul><ul><li>clips get limited views </li></ul>
    26. 26. online info-mercials Click here to watch sample http://meltaylorclientsamples.blogspot.com/
    27. 27. online photo-mercials Click here to watch sample http://meltaylorclientsamples.blogspot.com/
    28. 28. video prospects <ul><li>existing clients </li></ul><ul><li>TV wanna-be’s </li></ul><ul><li>ego-driven clients </li></ul><ul><li>newspaper clients </li></ul><ul><li>cable & tv clients </li></ul>
    29. 29. advertising design a top reason contributing to client cancellations: non-compelling, ad units think different
    30. 30. In order to lure advertisers back… traditional media gets VERY CREATIVE
    31. 33. large format banners
    32. 35. smart practice custom page skin
    33. 38. smart practice road block 100% sov (share of voice)
    34. 43. smart practice home page cube 300x250 above scroll
    35. 45. easiest ad unit to sell sliding billboard smart practice http://www.tribuneinteractive.com/clients/091908_jcpenney/demo1.htm
    36. 46. http://www.tmccreatives.com/
    37. 51. sliding billboard <ul><ul><li>exclusive & limited supply </li></ul></ul><ul><ul><li>super premium unit </li></ul></ul><ul><ul><li>ez for rep to sell </li></ul></ul><ul><ul><li>ez for client to see value </li></ul></ul><ul><ul><li>ez to design & execute </li></ul></ul>
    38. 52. sliding billboard <ul><ul><li>100% share of voice for 24 hours </li></ul></ul><ul><ul><li>flat, daily fee </li></ul></ul><ul><ul><li>short term deals to find market value </li></ul></ul><ul><ul><li>in-house promos, if not sold </li></ul></ul><ul><ul><li>shoot for 75% sell out, then raise rate </li></ul></ul>
    39. 53. dumb practice letting ad networks on home page & section fronts
    40. 54. ad networks on home page not smart
    41. 55. think about it… newspapers are careful about who gets a front page ad in their print product ( hand-selected business pays premium ) but… they don’t follow the same smart rules about ad placements in their online product
    42. 56. not smart
    43. 57. really dumb practice web sellers quote monthly, instead of weekly rates broadcast & newspaper quote weekly <ul><ul><li>I can’t afford almost $2,000 per month ! </li></ul></ul>sounds expensive sounds reasonable <ul><ul><li>I can handle $475 per week </li></ul></ul>
    44. 58. smart practice text links e-commerce rev-share
    45. 60. web advertising 101 seminars for local business local advertiser education
    46. 61. why advertiser seminar ? <ul><li>they want to buy web, but… </li></ul><ul><ul><ul><li>confused / lack of knowledge </li></ul></ul></ul><ul><ul><ul><li>don’t totally trust sales rep </li></ul></ul></ul><ul><ul><ul><li>think Google or website is enough </li></ul></ul></ul><ul><ul><ul><li>never been offered web </li></ul></ul></ul>
    47. 62. advertiser seminar benefits <ul><ul><ul><li>provide education to local biz </li></ul></ul></ul><ul><ul><ul><ul><li>> consultative approach </li></ul></ul></ul></ul><ul><ul><ul><li>immediate web revenue </li></ul></ul></ul><ul><ul><ul><li>better than a cold call </li></ul></ul></ul><ul><ul><ul><li>lead generation </li></ul></ul></ul>
    48. 68. mel taylor media ‘web advertising 101’ for local business success stories <ul><li>$ 144,000 new quarterly business </li></ul><ul><li>41 new contracts </li></ul><ul><li>$146,000 new quarterly business </li></ul><ul><li>26 new contracts </li></ul>& Cablevision <ul><li>$238,000 new annual business </li></ul>Times Shamrock Communications
    49. 69. How to invite local advertisers: This invitation was sent to local print advertisers of Philadelphia Inquirer
    50. 71. <ul><li>search </li></ul><ul><li>branding </li></ul><ul><li>message awareness </li></ul>web marketing
    51. 72. search <ul><li>today’s yellow pages </li></ul><ul><li>google, yahoo </li></ul><ul><li>reach those on a mission </li></ul>
    52. 74. to advertise your business would you only use yellow pages?
    53. 75. branding keep name out there message awareness educational (ex: sale)
    54. 76. <ul><li>Design your banner as if: </li></ul><ul><li>Speed by at 70 mph </li></ul><ul><li>2 seconds of attention </li></ul>poor results common reason: poor banner design
    55. 77. banner design <ul><ul><li>KISS keep it simple stupid </li></ul></ul><ul><ul><li>clear graphics/ messaging </li></ul></ul><ul><ul><li>understood in 2 secs ? </li></ul></ul><ul><ul><li>no web address needed ! </li></ul></ul>
    56. 78. <ul><ul><li>what is goal ? </li></ul></ul><ul><ul><ul><ul><li>> branding </li></ul></ul></ul></ul><ul><ul><ul><ul><li>> message awareness </li></ul></ul></ul></ul><ul><ul><ul><ul><li>> direct response: call to action </li></ul></ul></ul></ul>banner design
    57. 79. <ul><li>get coupon </li></ul><ul><li>join a contest or VIP club </li></ul><ul><li>watch our video </li></ul><ul><li>sign up for our newsletter </li></ul>Even though a click-through rate of .02% seems small, it’s actually better than most direct mail campaigns perform,” or “Click-through rates don’t tell the entire story; but they’re great for putting hard data on the value of having a customer delivered directly to your website’s front door.” reasons to click
    58. 80. <ul><li>britney spears bikini pics </li></ul><ul><li>free admission to event </li></ul><ul><li>download our new menu </li></ul><ul><li>sneak preview </li></ul>Even though a click-through rate of .02% seems small, it’s actually better than most direct mail campaigns perform,” or “Click-through rates don’t tell the entire story; but they’re great for putting hard data on the value of having a customer delivered directly to your website’s front door.” reasons to click
    59. 81. <ul><li>brand awareness </li></ul><ul><li>brand preference </li></ul><ul><li>message awareness </li></ul><ul><li>visited site/store, later </li></ul>Even though a click-through rate of .02% seems small, it’s actually better than most direct mail campaigns perform,” or “Click-through rates don’t tell the entire story; but they’re great for putting hard data on the value of having a customer delivered directly to your website’s front door.” no need to click
    60. 82. <ul><li>download </li></ul><ul><ul><li>menu </li></ul></ul><ul><ul><li>coupon </li></ul></ul><ul><ul><li>application </li></ul></ul><ul><li>take a virtual tour </li></ul><ul><li>watch a video </li></ul><ul><li>online contest / integrated promotion </li></ul><ul><li>collect email </li></ul>hot ideas
    61. 83. what sites to consider ?
    62. 84. WTF ?
    63. 85. <ul><li>GOOD ! </li></ul><ul><li>IAB.net compliant </li></ul><ul><li>clean environment </li></ul><ul><li>limited Ad units </li></ul><ul><li>above scroll </li></ul><ul><li>good content </li></ul>
    64. 86. integrated campaign
    65. 87. <ul><li>inventory glut </li></ul><ul><li>commoditization </li></ul><ul><li>ease of targeting </li></ul><ul><ul><li>geo </li></ul></ul><ul><ul><li>behavioral </li></ul></ul>declining cpm’s
    66. 88. bigger not always better struggle to monetize
    67. 89. bigger not always better stop growing lo-value, commodity page-views start growing ‘ high advertiser value’ content
    68. 90. why an online ad inventory glut ? print newspaper: lay out the ads first, then fill ‘NEWS HOLE’ w/ content. online newspaper: create & upload content first, then try to fill always variable ‘AD HOLE’
    69. 91. what online content should you build ? determine local content hole > local consumer need NOT being met online > of little interest to national, online only company > can leverage local feet on street determine advertiser demand > what categories want to advertise in this content?
    70. 93. mel taylor media recent success story <ul><ul><li>results from mid-market media company, </li></ul></ul><ul><ul><li>that applied info contained within this presentation </li></ul></ul>2008 2009 Increase February $71,813 $134,847 88% March $97,304 $160,756 66% April $110,000 $164,475 49%
    71. 95. Mel Taylor Testimonials Our ‘ Web 101 for Small Business ’ seminar was a huge success; we generated over $132,000 in revenue and signed 26 advertisers that had not previously run with The Morning Call. We increased our average revenue per account by 18%. Mel is charismatic, well spoken and easily captures attention of the crowd. He takes the time to build a story that can make the most difficult concepts seem easy. Before the client seminar (where Mel trained our sales staff) he addressed the most common objections. Mel helped give the sales staff more confidence, and made them fully prepared to sell. At the client seminar, Mel engaged the audience, spoke in terms that made them comfortable, and made professional reference to promote our Newspaper website, without losing credibility as a professional, outside consultant. Dan Sarko ; VP of Interactive; Tribune Newspapers Pa. March 2008, October 2008
    72. 96. <ul><li>As an event planner, I have the opportunity to place many different types of speakers on various industry programs. Rarely do I encounter a speaker of the caliber of Mel Taylor. Not only is he extremely knowledgeable in and well-prepared for his subject matter, he is also a very entertaining speaker and a pleasure to work with. He is an asset to any program. </li></ul><ul><li>Marsha A. Stoltman ; President, The Stoltman Group, America East, Newspaper Conference, Hershey Pa. April 2008, April 2009 </li></ul><ul><li>Refreshing, easily understandable & entertaining … .for managers and sales reps! I am recommending Mel for future events that educate local businesses about online marketing, as well as online sales training initiatives for traditional media execs. </li></ul><ul><li>Tara Cleary ; New England New Media Association ; May 2009 </li></ul><ul><li>&quot;Mel, thank you for speaking at our annual conference. Our members loved your presentation style and were left with plenty of actionable, revenue generating ideas. The feedback has been fantastic and we've had numerous requests to have you back. We'll see you again soon!&quot; </li></ul><ul><li>Mike Kierstead ; Executive Director, Atlantic Community Newspapers Association ; June 2009 </li></ul><ul><li>Your presentation was incredibly beneficial. To have someone finally say it's OK to 'dumb down' the internet sales process is something short of life altering, but certainly business altering. This was easily one of the best seminars I've seen. Thanks. </li></ul><ul><li>Paul MacNeill ; President, Island Press Ltd. ; June 2009 </li></ul>
    73. 97. <ul><li>>> Web Revenue Boot Camp for Local Media (1 day in market, suggested agenda) </li></ul><ul><li>8a-Noon Web-sales best practices for reps </li></ul><ul><li>Noon-1p Combined lunch session: competition overview </li></ul><ul><li>1p-3p Web Sales for Management </li></ul><ul><li>3p-5p Programming/Marketing/Tech… revenue/ ad inventory issues </li></ul><ul><li>Delivered 2 weeks later: custom report on findings & recommendations </li></ul><ul><li>>> Web Marketing 101 Seminar for Local Business </li></ul><ul><li>In-market visit 4 wks prior to seminar, includes Web Revenue Boot Camp </li></ul><ul><li>Half day of additional rep training, day before seminar </li></ul><ul><li>Copy of all sales materials / templates </li></ul><ul><li>Close business on the spot </li></ul><ul><li>Video clips from recent event here: www.MelTaylorMedia.com </li></ul><ul><li>>> Online Business Model Analysis & Recommendation for Radio </li></ul><ul><li>We do a ‘deep dive’ into your current digital sales efforts & your local market’s competitive environment. Key deliverables include a comprehensive set of recommendations & specific instructions on implementation. </li></ul>Mel Taylor Media popular WEB SALES programs custom programs available upon request
    74. 98. MelTaylorMedia.com [email_address] 267-625-5313 Hyper-local Online Revenue Strategy November 11, 2009 Presented by Mel Taylor

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