Building successful biz models for B2B and multi-platform publishing
B2B publishing as well as multi-platform publishing were discussed at length on Day 2 of the 38th FIPP World Magazine Congress. Industry experts talked about how to keep the community engaged in a 360 degree environment besides building successful business models...
“Let’s shift now and talk about B2B sector, which is an interesting place to be in,” said David Hall, President and CEO, International Publishing Services, IDG, USA who was the moderator. The session was ‘B2B publishing : keeping the community engaged in a 360 degree environment’. “For me the best thing about digital transition is that there are so many revenue routes,” he revealed. There has been significant changes in the B2B space as digital media grew in reach and acceptance while many traditional areas of engagement have been transformed. The panelists discussed how B2B publishers like them are taking advantage of changes in technology to inform, educate and engage their audiences profitably.
Yoko Tanaka, director international sales, marketing and communications, nikkei BP, Japan said she will talk about nikkei business publications where we have “ a lot to do with keeping the community engaged”. She carried on, “Our mission was to deliver technology and management information and most of our magazines are on subscription, we know everything about our readers.” They were working to strengthen engagement with readers and their “key words are – social media, smart phones and integration”. She emphasized, “We are looking at integration of digital marketing with contents and users at the core…the key is to understand your audience, so that they will deepen their engagement with us.”
“One essential lesson is how to achieve audience engagement,” said Kevin Costello, chief executive, Haymarket Media, UK. It was a challenge for them whose businesses serve 40 markets and whose 60% of revenue comes from print, 7% from websites. He elaborated, “It was not just content, but content packaged in such a way to maximize engagement” and that digital media is changing people’s engagement and “we are continuing with the ever-evolving media.”
He gave examples of how they managed to shift to vibrant communities, audience engagement . “We’re excited by the rising tide of possibilities , profit plus deliver at the same time, consumer benefit,” he concluded.
Considering B2B and B2C market scenarios, Pradeep Gupta, Chairman Cybermedia, India clearly stated that “Changes have happened more in B2B than B2C”. They have been continuously experimenting with different technologies and “now creating a new category – integrated programs across different media.” He said, “We are now aiming at 10% revenue to come from integrated media.” He cited examples like – SME knowledge series, T 35 program and created films for entrepreneurs, where they tried different approaches. “A different approach is needed today. And technology is an important driver for us.”
The change is taking place and B2B publishers are tackling with this.
In the session, ‘Successful business models for multi-platform publishing,” Paul Keenan, CEO, Bauer Media, UK spoke about,” A new dynamic for new economic ideas.” He saw 2 issues confronting us like – consolidation of brands and agencies and digital disruption that is causing a million brands to hit the market every day. Their approach – ACCESS was to offer advertising, insights, creative simple programs implemented quietly. “We require access to some of tehri inner truths and we had some brave clients,” he said. Their digital watermarking of every commercial message created something of an event. Then the Ford experience they gave when consumers, shopped, ate, created music and also learnt about the car – was unique giving engaging, compelling content.
Peter A Kreisky, Chairman, Kreisky Media Consultancy, USA spoke about – transforming publishing to magazine media: a blueprint for change. In a constantly changing environment, he said they reached a conclusion that brands (magazines ) curated value content and relationship with valued audiences.The outcome was to redefine priorities, a new identity for a new era: ‘Magazine Media’- a term they described to be in “the media the business we wanted to be in”. So they moved from being print-centred to media- centred. ‘Magazine media’ was a blueprint fro change.
Successful business models for multi-platform publishing is what Kalli Purie, Chief Operating officer, India Today Group Digital spoke about. “The more tools you add to your kitty, the better you can tell your story,” she said. She endorsed - more exclusives like the India Today ‘Best College Survey’which has a special issue and a microsite with video footage which was aired as a program on TV; celeb power like Harper’s Shah Rukh Khan interview spurned out making of the cover etc; verticals and horizontals like they combined 5 women magazines content and created a mega site; curate rather than create eg news portal; robust mobile strategy and make events eg India Today Enclave, which created marketing buzz and create unique content. Then she spoke their recent multi-platform campaign against corruption – ‘Yeh dil maange no more corruption’ where they created content - got celebs to take pledge, did promos, has campaigns on TV, print, internet and they even brought out a special issue on corruption. She spoke about the multi-publishing model and signed off : “It’s no linger about the medium, it’s about the message.”
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