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Selecting the best product development opportunities


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Selecting the best product development opportunities

  1. 1. 10 – 12 October 2011, Vienna, Reed Messe WienMedia PortSession: Innovative AdvertisingTitle: Selecting the best product development opportunitiesSpeaker: Audra Martin, The Economist
  2. 2. Selec%ng  the  best  product  development  opportuni%es  for  your  business  Audra  Mar%n  Vice  President,  Customer  engagement  &  Opera6ons,  The  Economist  online  Tom  Ricca-­‐McCarthy  Global  Sales  Director,  Madgex  
  3. 3. Revenue  poten6al  in  our  industry  Source:  Morgan  Stanley  Internet  Trends  2010  
  4. 4. Revenue  poten6al  in  our  industry   In  2010  total  UK  online  ad  spending  was  £4  billion,  25%  of  total  marke6ng  spend,   only  1%  behind  television  Source:  IAB/PwC  
  5. 5. Challenges    Compe%%on   Dynamic  environment    Limited  exper%se    Limited  resources  
  6. 6. Challenges    Opportuni%es     What  is  compelling  and  valuable  to  our  customers?     What  will  customers  and  clients  pay  for  and  how   much?     What  is  the  right  balance  of  revenue  streams  to   mi%gate  risk?     Does  this  fit  our  brand  and  mission?     Do  we  have  what  we  need?  Does  someone  else?  
  7. 7. Distrac%on  or  opportunity?   Will  this  help  me    achieve  my  strategy?  
  8. 8. Vying  for  your  %me  &  resources  
  9. 9. Social  media:  distrac%on  or   opportunity?  Source: Search Engine Journal:
  10. 10. Relevant  to  publishers  Source: Search Engine Journal:
  11. 11. Approach  must  match  to  strength  of  medium   Immersive   Con6ngent   Subscrip6on   Adver6sing  
  12. 12. Ready  to  commit?   Understanding   Answers  ques%ons   Market  trends   What  is  compelling  &   valuable?   Customer  behaviour   On  brand  /  mission?   Product  strengths   Develop  new  or  partner?    Opportunity:  Priorities:  Approach: Commit your resources to what is important
  13. 13. Where  has  it  gone  right?   Case  study:     Madgex  white  label  jobs  board   replaces  legacy  classifieds  system  
  14. 14. Old  to  new     Outdated branding & design   No product management/ roadmap   No up-sell opportunities   Limited SEO value
  15. 15. Star%ng  the  process   What  is  compelling  and  valuable  to  our  customers   and  clients?   What  is  that  value  worth?   Is  the  cost  reasonable?  Does  this  increase  or  reduce   risk  to  our  revenue  streams?   Does  this  fit  the  brand  and  our  mission?   Off-­‐the-­‐shelf  or  bespoke?  Do  we  have  what  we   need?  Does  someone  else?  
  16. 16. Commitment  of  resources   Understanding   Answers  ques%ons   Market  trends   What  is  compelling  &   valuable?   Customer  behaviour   On  brand  /  mission?   Product  strengths   Develop  new  or  partner?    Opportunity: Brand & audience alignment to international exec-levelrecruitment offering  Priorities: mature but evolving recruitment solution platform; neededto resonate with customers & clients; be off legacy platform within 2 months  Approach: Competition & best practices clear among 3rd partyrecruitment solutions; bespoke not important
  17. 17. Madgex  perspec%ve   What  an  amazing  global  brand  and  high  quality  audience     They  really  needed  to  work  with  some  experts  (limited   exper2se)   We  are  11  years  old  this  month   We  are  50  highly  innova6ve  job  board  geeks  powering  200   major  news  and  publishing  brands  (limited  resources)     They  needed  a  best  in  breed  solu6on,  a  significant  increase  in   capability  and  that  leadership  to  be  maintained   And  they  needed  it  fast  
  18. 18. Old  to  new    Branding & designinline with main site  Better tools forcustomers  Expanded valueproposition recruiters  Improved SEO,better awareness
  19. 19. So  from  our  perspec%ve   In 7 weeks we put in our award winning platform And we constantly add to that to keep The Economist competitive
  20. 20. 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  proposi6on  improved:  posi6ons,  audience,   applica6on  rate   –  SEO    minimal  marke6ng  costs  to  realise  benefits   –  Madgex  provides  product  improvement  roadmap   –  Minimal  impact  on  internal  teams  
  21. 21. Thank  you  Audra  Mar6n  VP  Customer  engagement  &  Opera6ons,  The  Economist  online  Twiger:  audranyc  Tom  Ricca-­‐McCarthy    Global  Sales  Director,  Madgex  tom.ricca-­‐  Twiger:  madgex  Stand  :  A331