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"About the future of media", Alf Lande, Lac 2.0 AS

Concept developer, consultant, creative coach and copywriter at Nordskar Kommunikasjon AS à Nordskar Kommunikasjon AS
29 May 2015
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"About the future of media", Alf Lande, Lac 2.0 AS

  1. About the future of media Senior Consultant Media Lac 2.0 AS ALF LANDE
  2. Q1. What are the changes media industry experiencing today? Q4. How media companies can leverage content marketing to create a next generation media company? Q5. Key takeaways Q3. Why content marketing is important and media players must give it a glance? Q2. What are the modern solutions that players worldwide are adopting? About Speech Key questions that are going to be addressed through the speech
  3. Media Industry Dramatic Shift Media companies have to fundamentally understand below paradigm shifts and respond with creativity, optimism and joy, in order to sustain in the industry Classical channels experiencing obsolescence Consumers are consuming less content through these channels 1 3 2 4 Advertisers significantly less dependent on classical media channels to reach out to consumers Classical model solely basing its priorities on editor-centric-priorities is losing effectiveness Consumers are demanding responsiveness to their high and low interest areas - uniqueness and personalization Consumers are responding less to editors’ choices and recommendation Content personalization and uniqueness are becoming winning formulae to success Emerging favorites among advertisers
  4. New options in ecommerce 01 Media industry experimenting with various solutions Sophisticated paywalls 02 Powerful programmatic advertising arriving 03 Advanced analytics field is exploding – Big Data 04 Sophisticated recommendation technologies 05 Cloud makes it easer to go global fast 06 Location based targeting opens digital for local businesses 07 Social media maturing and gives traction to self publishers 08 Mobile and video first. Richer Formats – Videos, Podcasts 09 Content Marketing - Advanced usage of Native and Content Marketing 10 Create and distribute content and improve operational efficiency Grow revenues Acquire new customers Build customer loyalty and lower attrition Powerful fascinating new tools are becoming available to publishers Globally, media players are experimenting with various solutions, striving to find the best solution for their business
  5. Drivers propelling content marketing [1/2] Declining content cost and widening digital presence are opening new avenues for media players to look into Low cost aggregating technologies 1 Freelance journalism portals 2 Less expensive social media marketing Low cost recommendation technologies 4 Declining digital experimentation cost Declining content production and marketing cost Drivers 3 5 Large devise base – smartphones, Tablet, PC, wearables etc. 1 Richer and interactive formats – videos, podcasts, gamification 2 Widening digital presence
  6. Drivers propelling content marketing [2/2] Advanced tools and changing advertiser’s expectations towards quality content are opening new business opportunities for media players Granulated consumer insights 1 Location based targeting 2 Technology and big Data analytics to personalize content 3 Sophisticated tools to measure real time performance Enhanced measurement tools Drivers 4 Demand for quality, trustworthy, and engaging content 1 Changing advertisers/brands expectation
  7. Key elements to a successful content marketing Key takeaways of successes and failures of various studies emphasize on following Interactive User Interface 1 2 Personalization Social Media and Analytics 3 Sharing 4 • The sharing economy is imperative for media companies to embrace to acquire more customers • Develop well designed customer journey, along with simple, engaging, entertaining and intuitive user experiences to increase customer’s engagement • Create unique, exclusive and valuable content matching customers’ high interest areas to attract and retain customers • Use social media and analytics to get insights into their consumers’ likes and dislikes, and identify opinion leaders and fascinating voices to produce relevant content
  8. Content Marketing Model for a Media Company
  9. Impact on Key Areas Topline (Revenue/Sale)     Operational Efficiency  Product Innovation   Business Development    Media Company Key Functional Areas Content Production / Curation Revenue Customer Acquisition Customer Retention Editorial department Business Department Customer Department Content Marketing Model for a Media Company Content Marketing offers a lot of possibilities for media players to build a next generation media company  Freelance Journalism  Content Aggregating Technologies  Content Licensing Technologies  Native Advertising  Content Production for Brands  Social Media  Recommendation Engines  Big Data and Analytics  Live Events Key Functional Areas Content Marketing Solutions
  10. Scenario 1: Content Production / Curation Hypothesis: Media companies can use content marketing to improve their operationalefficiency in content production and reduce their content production cost  Media companies are struggling to provide personalized content or content close to customer’s high interestProblem Opportunities/Solutions Freelance Journalism Portals 01 Content Aggregating Technologies 02 Content Licensing Technologies 03 Impact on Key Areas Topline (Revenue/Sale) Operational Efficiency Product Innovation Business Development Low Medium High Low Medium High Low Medium High Low Medium High Inference – Impact on Key Areas
  11. Problem Opportunities/Solutions Native Advertising 01 Content Production for Advertisers 02 Impact on Key Areas Topline (Revenue/Sale) Operational Efficiency Product Innovation Business Development Low Medium High Low Medium High Low Medium High Low Medium High Scenario 2: Revenue Diversification Hypothesis: Media companies can leverage their content production expertise to create content for others and diversify into new business segment  Media companies are struggling with declining revenues and need to think of new avenues of growth Inference – Impact on Key Areas
  12. Problem Opportunities/Solutions Social Media 01 Recommendation Engines 02 Big Data and Analytics 03 Impact on Key Areas Topline (Revenue/Sale) Operational Efficiency Product Innovation Business Development Low Medium High Low Medium High Low Medium High Low Medium High Scenario 3: Customer Acquisition Hypothesis: Media companies can use content marketing to increase web traffic on their website or promote their content to acquire more customers  Media companies are struggling to acquire consumers / web traffic. Players are struggling to target optimal marketing channels to promote content Inference – Impact on Key Areas
  13. Problem Opportunities/Solutions Live Events 01 Impact on Key Areas Topline (Revenue/Sale) Operational Efficiency Product Innovation Business Development Low Medium High Low Medium High Low Medium High Low Medium High Scenario 4: Customer retention and Loyalty Hypothesis: Media companies can use content marketing to build relationship with their existing consumers as an exercise to build loyalty and brand awareness  Media companies are struggling to build customer loyalty and retain customers Inference – Impact on Key Areas
  14. Conclusion
  15. 01 Media companies have to understand that industry is witnessing a fundamental change, and to survive they have to respondwith creativity, optimism and joy 04 To create a robust business model, media companies have to focus on sharing, personalization, social media, analytics and interactive user interface 03 Content marketing offers an opportunity for publishers to create an innovative business model that can be used to grow their revenues and lower their cost 02 Publishers have rich and fascinating modern tools that they can leverage to create a compelling next generation media business Conclusion

Notes de l'éditeur

  1. Notes: Content Production Cost: The current cost of creating the same piece of content as compared to fifteen years back has fallen at least 2/3 times
  2. Notes: Content Production Cost: The current cost of creating the same piece of content as compared to fifteen years back has fallen at least 2/3 times
  3. Players in Market for below mentioned services: Freelance Journalism Portals – Bylineme, Contently, Constantcontent Content Aggregating Technologies – Taboola, Outbrain, Yahoo Content Licensing Technologies – Newscred Case Studies: Time Inc. – Time Inc. signed an USD 100 million revenue deal with Outbrain The deal would help Time Inc. to bring external content to its platform and earn advertisement revenue ESPN – ESPN has signed a two-year deal with content recommendation platform Outbrain 
  4. Case Studies: The New York Times – The New York Times launched T Brand Studio to focus on native advertisements The studio consists of 16 people staff Performance: Times sold USD 18 million in native advertising in 2014 The Onion – The Onion launched Onion labs, a full-service advertising agency that operates in-house Performance: The lab is responsible for 81 percent of Onion Inc.'s total revenue, generating revenue through sponsored content BuzzFeed – BuzzFeed is among the pioneers of Native Advertisement and sponsored content According to the company, native advertising brings around USD 60 million in 2013 and 85 million unique visitors monthly Quartz – Started in 2012, Quartz completely drives it revenue from native advertisements It has more than 90 advertisers working with and is expected to grow at 250% in the first quarter in 2015 as compared to same period last year
  5. Players in Market for below mentioned services: Social Media – Facebook, Twitter Content Aggregating Technologies – Taboola, Outbrain, Yahoo Case Studies: Netflix – Netflix using data to analyze consumer interest to acquire customers It cre Financial Times - Financial times has a strong social media presence Performance: In 2014, the company reported that the number of new subscribers who came from social media referrals increase by 165% Conde Nast - Condé Nast began uses ZergNet recommendation engine and credits it for increasing monthly traffic on its websites by the hundreds of thousands of new visitors
  6. Case Studies BBC – BBC has created a separate business unit BBC Worldwide’s live events The unit is responsible to organize popular events such as – motoring theater show, concerts and tours Top Gear Festivals are unique events created for those with a passion for Top Gear and motoring in general The festival format enables visitors to enjoy a full day of motoring entertainment such as absurd stunts and presenter challenges
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