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Digital first business models


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These are slides for a workshop for the Montreal Gazette on business models for digital-first success.

These are slides for a workshop for the Montreal Gazette on business models for digital-first success.

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No notes for slide
  • These are slides for a workshop for the
  • I’ll explain the origins of Bryce Canyon (not erosion, but tectonic upheaval), and explain the tectonic shifts going on in the media business.
  • I’ll mention the roots of C3, in my work for the Newspaper Next project.
  • Transcript

    • 1. Digital FirstBusiness Models Steve Buttry The Gazette March 20 , 2012 #gaztrain
    • 2. Read more about it••• @stevebuttry••
    • 3. This change is tectonic, not cyclical
    • 4. Clay Shirky: “Nothing will work,but everything might.”
    • 5. John Paton: “You don’t tinker or tweak abroken model. You start again anew.”
    • 6. Digital First principles• Digital First & print last• Put the digital people in charge• Engage the community• Core competencies: Local content & local sales• If it’s not core: reduce it, stop it, sell it or outsource it
    • 7. Foundation to build on:• Strong brands• Local content• Local sales force• Journalistic integrity
    • 8. Engagement = value • Computers & archives for community use • Open news meetings • Blog network • Classes • Digital audience 5x print • From loss to profit
    • 9. Jim Brady:“Theres no silver bullet. Theres just shrapnel.”
    • 10. Why not paywalls?• We never charged for content• When they “work,” benefit is marginal• You need to spend that money & energy developing a model for the future• They attempt to protect a failing model
    • 11. John Paton:“’You’re gonna miss us when we’re gone’ is not much of a business model.”
    • 12. Paid content opportunities?• Premium content (specialized)• Unique, high-value content• Membership (get more than content for your payment• Mobile, tablet• Even if people will pay, can you make more money w/ larger free audience?
    • 13. Mobile Opportunity• 44% of U.S. adults have smartphones• 18% of U.S. adults have tablets (up 50% from summer 2011 to early 2012)Source: State of the News Media 2012
    • 14. Mobile-first strategy• Text alerts• Email• Applications (phones & tablets)• Social media (tweets, check-ins, tips)• Location-based news, info & commerce• Easy-to-use mobile websites• Device-flexible (not device-agnostic)• Games (phones, iPads great for games)
    • 15. C3’s new relationshipsFor the public: We will be their essentialconnection to community life — news,information, commerce, social life. Likemany Internet users turn first to Google,your community should turn first to C3,whatever the need.
    • 16. C3’s new relationshipsFor businesses: We will be their essentialconnection to customers, often makingthe sale and collecting the money.
    • 17. Our current relationship with business customers• Huge expense line in budget• Lots of inefficiency• Ad rates dropping• Ad revenues dropping• Lots of digital competition
    • 18. C3’s revenue approach• Move beyond advertising• Direct sales (tickets, reservations, gift registries, gift certificates)• Lead generation & targeted ads• Sponsorships, memberships & events• Mobile ads & applications• Handle multiple needs (yes, competing ads)
    • 19. The C3 relationship with business partners• Revenue line in budget (expense line, too)• Delivering high value, tailored to needs• One-stop shop for connecting with customers
    • 20. Personal content• Births • Divorce• Youth milestones • Jobs, pets, holidays,• School food, interests, health• Graduation • Illness• College life • Empty nesters• Military service • Retirement• Weddings • Reunions• Parenthood • Obituaries
    • 21. Life stories• Commissioned obits (journalist tells life story, paid by family)• Obituary, website, booklet, video• Not just obits: weddings, retirements, anniversaries, milestones
    • 22. Newspaper Next
    • 23. N2 lessons for Digital First• Jobs to be done = opportunities• “Good enough” opens doors to new avenues of excellence• Potential markets exceed what you can imagine (or what research can project)• “Beware the sucking sound of the core”
    • 24. Discussion question: What are some social mediarevenue opportunities The Gazette might pursue? How?
    • 25. Discussion question: What is a mobile revenueopportunity The Gazette might pursue? How?
    • 26. Discussion question: What are some direct-salesopportunities The Gazette might pursue? How?
    • 27. Discussion question: What is a personal content opportunity The Gazette shouldpursue? How would it generate a new revenue stream?
    • 28. Discussion question:How should The Gazette changesales incentives for selling digital products & landing new customers?
    • 29. Read more about it••• @stevebuttry••