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Finding your North Star


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Financial Times CPO/CIO Cait O'Riordan discusses their North Star.

Published in: Technology
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Finding your North Star

  1. 1. Cait O’Riordan | Financial Times Finding your North Star
  2. 2. 920,000 paid for customers 720,000 digital only subscribers 1.9 million daily readership We operate with a strict paywall We are a publisher - but commercially we are a subscription based digital company About the FT
  3. 3. Commercial Goal One Million Subscribers
  4. 4. Our North Star
  5. 5. We kept on finding... Revenue vs. Usage Conversion Rate vs. Engagement Cancellation Rate vs. Engagement
  6. 6. ... Competition For Attention
  7. 7. Engagement can be measured many ways Email Alerts Attending Events App Downloads Reader comments Facebook Likes Sharing Stories Time Spent Reading Twitter Followers and Retweets Multichannel Consumption
  8. 8. ... Our “North Star” Engagement Score Recency | Frequency | Volume
  9. 9. Recency Frequency Not everyone is a digital news junkie Best Customers Engagement opportunities
  10. 10. North Star: Product & Technology
  11. 11. Case Study | MyFT A Twitter-like follow topic feature Users get a daily email digest and an on-site feed page
  12. 12. myFT | Impact on RFV Engagement increased 86% compared to the control group
  13. 13. myFT | Impact on RFV ...… Article based onboardingTopic based onboarding Negative CTR +20% CTR
  14. 14. New Daily Digest Design Further AB tests are on the backlog to continue experimenting with email headers/subject line etc myFT | Impact on RFV +1.6% OPEN +13.6% CTR
  15. 15. myFT | Impact on RFV Old Design New Design +10% CTR
  16. 16. Case Study | Speed When we launched Next first MVP 5% of our most devoted users opted in The site had few features and less content than old Yet, they immediately became more engaged Why?
  17. 17. Case Study | Speed What does it mean financially? 1 second = $millions More than any feature besides MyFT
  18. 18. Case Study | Speed Hypothesis: Every second counts True! You could see the impact from the very first second.
  19. 19. Case Study | Going back to the iOS App Store
  20. 20. Case Study | Onward Journeys Infinite ScrollSimplified Recommended Stories MyFT Moved Up +1.36% CTR +12% Follow Rate +15% CTR +14% CTR
  21. 21. Case Study | Onward Journeys Design has a big impact on clicks. All three design changes had a positive effect… ...if not a lasting one.
  22. 22. …content not so much. All tests experimenting with content recommendation have lost to our control variant. Case Study | Onward Journeys
  23. 23. Funding Engagement Via Investment Reach and Return Finding new quality prospects, marketing to them and converting them into customers Consenting prospects | Quality visitors | Trial acquisition | Trial conversion | March to 1M Retention Yield Efficiency Quality Revenue/Profit Growth Increasing engagement & reducing churn Number of users with an engaged RFV score. Reducing billing churn rates. Increasing revenue per customer for a given product LTV | ARPU | CPM... Product quality, digital journalism, security, stability, speed Net Promoter Score. New Customer Experience metrics, Completion rate, Share rate Productivity, redeployment, cost avoidance, Simplification Costs avoided | Redeployed roles | Efficiency Metrics Opportunities in Advertising, FT Specialist, Events, Platform commercialisation, Tech ROI or cost saving What does it mean and how will it be measured?Outcome
  24. 24. North Star: Marketing
  25. 25. Recommended Headlines
  26. 26. myFT
  27. 27. North Star: Editorial
  28. 28. Content | Our Biggest Engagement Driver
  29. 29. Thank You @caitoriordan