Selecting the best product development opportunities
21
10_– 12 October 2011, Vienna, Reed Messe Wien Session: Innovative Advertising Title: Selecting the best product development opportunities Speaker: Audra Martin, The Economist Media Port
Transcript of Selecting the best product development opportunities
10_– 12 October 2011, Vienna, Reed Messe Wien
Session: Innovative AdvertisingTitle: Selecting the best product development opportunitiesSpeaker: Audra Martin, The Economist
Media Port
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
Revenue poten6al in our industry
Source: Morgan Stanley Internet Trends 2010
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
Challenges
Compe%%on
Limited resources
Limited exper%se
Dynamic environment
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?
Will this help me achieve my strategy?
Distrac%on or opportunity?
Vying for your %me & resources
Social media: distrac%on or opportunity?
Source: Search Engine Journal: http://www.searchenginejournal.com/the-growth-of-social-media-an-infographic/32788/
Relevant to publishers
Source: Search Engine Journal: http://www.searchenginejournal.com/the-growth-of-social-media-an-infographic/32788/
Approach must match to strength of medium
Immersive Con6ngent
Subscrip6on Adver6sing
Ready to commit?
Market trends
Customer behaviour
Product strengths
Understanding What is compelling &
valuable?
On brand / mission?
Develop new or partner?
Answers ques%ons
Opportunity: Priorities: Approach:
Commit your resources to what is important
Where has it gone right?
Case study: Madgex white label jobs board replaces legacy classifieds system
Old to new
Outdated branding & design
No product management/ roadmap
No up-sell opportunities
Limited SEO value
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?
Commitment of resources
Market trends
Customer behaviour
Product strengths
Understanding What is compelling &
valuable?
On brand / mission?
Develop new or partner?
Answers ques%ons
Opportunity: Brand & audience alignment to international exec-level recruitment offering Priorities: mature but evolving recruitment solution platform; needed to resonate with customers & clients; be off legacy platform within 2 months Approach: Competition & best practices clear among 3rd party recruitment solutions; bespoke not important
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
Old to new
Branding & design inline with main site
Better tools for customers
Expanded value proposition recruiters
Improved SEO, better awareness
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
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
Thank you
Audra Mar6n
VP Customer engagement & Opera6ons, The Economist online
[email protected] Twiger: audranyc
Tom Ricca-‐McCarthy Global Sales Director, Madgex
www.madgex.com
tom.ricca-‐[email protected]
Twiger: madgex
Stand : A331
