Newspapers' digital competitors and how to beat them
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Newspapers' digital competitors and how to beat them

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    Newspapers' digital competitors and how to beat them Newspapers' digital competitors and how to beat them Document Transcript

    • 6/28/2011 Digital Competitors • Who they are • What they’re doing • How to beat them MelTaylorMedia.com Steps for Success• Run Web like Business• Understand Competition• Leverage Digital – Operational Efficiency – Increase Revenue Share – Increase Audience Share 1
    • 6/28/2011Run Web like NewspaperThink like Publisher / Owner 1. profit in this order 2. operations 3. editorial Who Runs Website ? 2
    • 6/28/2011Webmasters Designers EditorsTell youwhat you canand can’t sell Always done it that way Platform can’t do it We don’t offer it Don’t have time Too expensive Bad user experience 3
    • 6/28/2011 Beware• Hit our web budget• Web rev up 500 %• Web traffic is strong• 50,000 Facebook Fans Who Should Run Website ? Compensation tied to digital profitability 4
    • 6/28/2011 Local Biz Bombarded TRADITIONAL NON-TRADITIONAL • Other Papers • Google • Community News • Groupon • Specialty News • Facebook • Magazines • Digital agency • TV • Geo-Target national sites • Radio • Self-publishing • Cable • Hyper-local sites/blogs • Outdoor • Yelp & review sites • Yellow Pages • Craigslist, Angie’s list • Monster, Cars, Realtor.com Middle-Man Channels Advertisers benefit from new, multiple ways Traditional Channels New Channelsof reaching local consumer Indie Sites Newspaper Facebook TV Advertiser Patch Local Consumer Radio Groupon Yellow Pages Direct Mail Reach Local Directories Search Direct Relationship Twitter, Facebook, Business Websites MelTaylorMedia.com INVESTOR PRESENTATION 9 / 2010 between advertiser & consumers, avoiding middle-man channels EX: Twitter, Database, Blogs, Social, Mobile 5
    • 6/28/2011 Skepticism Online deals = small Newspaper sales = big• Online is small %, but fastest growing• Advertisers moving larger % to web• Outsiders talking to clients. They’re buying solving fear of cannibalization if we don’t offer digital… somebody else will 6
    • 6/28/2011 Who are they ? Patch: Priority Plan• Local news source• Trusted community partner• Local Media replacement• Create excellent journalism 7
    • 6/28/2011AOL’ shyper-local playfor local ad dollarsvia journalism 8
    • 6/28/2011 Why is Patch doing this? • AOL’s dial-up dwindle • Need new revenue • Local media downsizing • 50% of local budgets on sideline • Local media protecting legacy biz 837 Sites…so far 555 in Q4 2010• 20 states• Over 100 in California• 73 in Massachusetts• 40 in Georgia• 30 in Philadelphia• 3m uniques; Dec 2010 Launched in February 2009 9
    • 6/28/2011 PATCH Traffic Growth Oct 2010: 1.71 mil Dec 2010: 3.03 mil Feb 2011: 4.41 mil Ap 2011: 6.91 milComScore Communities Avg size: 50-70kPATCH Philly Regional Publisher:Former Publisher @ Journal Register Lehigh County Bucks County Main Line Philadelphia Region Chester County Today: 30 Summer 2011: 60 South Jersey Delaware County 10
    • 6/28/2011 Will Patch Succeed ?• Who knows – Doesn’t matter• Patch is more proof… – Local dollars up for grabsHuffington Post $315m• Traffic• Low-cost• Advertisers• Profitable 11
    • 6/28/2011Costs 12
    • 6/28/2011 Patch Marketing Staff… Freshest Breath in TownFREE Holiday Parking Courtesy of Ardmore PATCH 13
    • 6/28/2011 14
    • 6/28/2011 Editorial Pay & Positionso Local Editor; $40k o MacBook Pro, camera, smart phone, police scanner o $500 freelancer budget per month 401K matcho Regional Publisher; $80k Performance bonus Medical & Dentalo Regional Editor; $80k o Oversee group of 12 Patch sites SALES Pay & Positionso Ad Manager; $60k base o 5k signing bonus 401K match Performance bonus o 90k at plan Medical & Dental o Cell, laptop, wireless card o Budget 15
    • 6/28/2011 POACH• Newspaper• TV• Cable• Yellow Pages• NAA• Bloggers Recruitment 16
    • 6/28/2011Patch University 17
    • 6/28/2011 Sales Job Posting • Be local online ad expert for small biz • Host WEB 101 seminars for small biz • Attend chamber & trade functions • Convince buyers to shift budget to digital • Visible presence in biz communityDevil ads 18
    • 6/28/2011 other LOCAL competitors 75% of Deal Market Average User Single Female 18-34 Income: 70k+Users2008: 400 k Employees Dec 2009: 1242009: 1.5 mil Dec 2010: 3,1002010: 40 mil 19
    • 6/28/2011HARVESTINGyour audience & Newspaper> Partner NO> Run Groupon Ads 20
    • 6/28/2011Yellow Pages 21
    • 6/28/2011Cable 22
    • 6/28/2011 Google PlacesGoogle Business Photos Orange County, CA Phoenix, AZ Bay Area, CA San Antonio, TX St Petersburg, FL 23
    • 6/28/2011 24
    • 6/28/2011 25
    • 6/28/2011American Express helping local business buy banner campaigns 26
    • 6/28/2011 NewspapersDIGITAL SERVICE Divisions 27
    • 6/28/2011TRIBUNEDIGITALSERVICES 28
    • 6/28/2011Online Radio 29
    • 6/28/2011 Pandora o 94 mil REGISTERED users o 34 mil ACTIVE users o Est $200 mil revenue for 2011 o Top 50 national advertisers o Growing sales force o San Fran, NYC, LA, Chicago, Detroit, Dallas, Atlanta Pandora # 2 all-time free iPhone app # 1 all-time free iPad appJan 2011 30
    • 6/28/2011 PandoraTargeting of local adson NATIONAL SITES o Geo-targeting o By format o Audio, Video, Display o Mobile 31
    • 6/28/2011 Hyper-local sites & Web Sales for Local TVo Quickie hyper-local sites for local TVo No upfront costso Call center pitches local biz in TV’s nameo Rev share approx 60% to DataSphereo Keeps primary relationship w/cliento DataSphere retains advertiser data 32
    • 6/28/2011 How To WinWhat can Newspaper do… that others can’t ? USP Unique Selling Proposition USP• Superior local reach• Feet on street• Trust & Brand familiarity• Client relationships• Local content creation & curation 33
    • 6/28/2011 How Newspaper Wins Combine Newspaper USP with New Digital Tools Newspaper TOOLS• Legacy• Feet on street• Local content creation• Client relationships USP Unique Selling• Brand familiarity Proposition• Print / Traditional distribution 34
    • 6/28/2011New Newspaper TOOLS• Video• Social & Mobile• Integrated / cross platform• Multi-media newsrooms• Aggregation RUN ONLINE LIKE PRINT SAME RULES 35
    • 6/28/2011 Grade Yourself • Newsroom knows Web-biz 101 ? • Reps knows website basics ? • Reps overcome common objections ? • Reps know how local biz uses Web ? • Reps help local biz understand Web ? • Most web inventory sold local-direct?’ • ALL Executives Web-trained ? Client Questions• Current marketing allocation• Current digital allocation• Digital you are considering• Who’s pitching you ? 36
    • 6/28/2011 Early Steps • Run as business, not hobby • Who’s in charge? • Comp adjustment • Know & pitch current clients • Simplify sales process Overhaul Comp• Revenue per rep & manager• New business per rep (per month)• Grow % of current clients• High commission: new clients• Low commission: transactional• Bonus & PENALTY 37
    • 6/28/2011 Reps Operating BlindFully awareof how clientsare spending budgets? Integrated & Separate Sales Reps• All reps as super sellers• Slowly grow web-only force• 1 point of contact for client• Offer many solutions• Reach & power of all platforms 38
    • 6/28/2011 Compensation • Revenue & New Business • Per rep & manager • Per month • Commission • 25% or more for new biz • 10% or below for transactional Overhaul Compensation> Grow % of clients using web> Bonus & PENALTY• Don’t hit web ? Lose PRINT bonus• Don’t hit web….all the time? > Lose acct or job 39
    • 6/28/2011 REMOVE ALL • cpmGeek Speak • pageviews • uniques ? • click-thru rate • leaderboards • pixels • impressions Who Runs Website? Mandatory Skill Set 1. Entrepreneurial 2. Biz-Dev & Direct Sales 3. Digital DNA 4. Traditional Marketing 40
    • 6/28/2011 FAILOnline Journalism / Content looking for Revenue Models SMART Proven Revenue Models that supportOnline Journalism / Content 41