Presentation on Brand Strategy for The Economist Magazine in May 2013. Brand Strategy class at NYU Stern taught by Prof. Scott Galloway. A special video on brand identity was created and embedded into the presentation which can be viewed here http://youtu.be/lpo4us8kfG8.
10. statement
mission
“
”
to take part in a severe
contest between intelligence,
which presses forward, and
an unworthy, timid ignorance
obstructing our progress.
11. statement
mission
“t o l e a d t h e
debate in the
p u r s u i t o f
progress.
”
[modern translation]
13. the
?why focus on
United States
0
225,000
450,000
675,000
900,000
2005 2006 2007 2008 2009 2010 2011 2012
Asia Europe Latin America MEA N. America Pacific UK
North America
Rest of the World
TheEconomistPrint Subscription
Circulation by Country 2005-2012
44. brand as organization
free trade
supports
legalization of DRUGS
internationalism
penal reform
gay marriage
2003 invasion of IRAQ
gun control
combatting climate change
free market
minimum government interference
48. (
(
brand as persons person
~
|)
Hmmm...isn’t he that
boring finance guy?
$ £
€¥
₹%
NASDAQ
~
~
Reader Non-Reader
49. (
(
brand as persons person
Au contraire mon frère!
He is a very
interesting chap!
?
conservative
intellectually
curious
open-minded
classy
liberal
worldly
political
~
|)
50. (
(
brand as persons person
~
|)
He sounds smart but
I feel like he’s always
trying to make me
feel stupid...
~
~
51. brand as persons person
~
|)
...I guess that’s what I’d
expect from this guy.
~
~)~
52. brand as persons person
~
|)
(
O
That’s not him!?!
He’s not an old
stodgy professor...
63. brand is stronger to exposedthan to unexposed
strong
weak
Source: BrandAsset® Valuator USA, 2011 The Economist Custom Study
exposed
brand
stature
+
strength
66. impact on circulation growth
0
225,000
450,000
675,000
900,000
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
0%
5%
10%
15%
20%
North America Circulation
Year on Year Growth
decline in growth rate
67. no exposure some exposure
42%
8%
one or one of several that i’d prefer
exposure dramatically increases consideration
consideration
Source: BrandAsset® Valuator USA, 2011 The Economist Custom Study
75. targetmillenials in universities
strategy
0 1 2 3 4 6 7 8 9 10
key brand indicators and attributes resonate strongly with students: intellectually curious
i am always looking to learn new things
when something catches my interest i learn all i can about it
being well-informed about global events is in my best interest
i care deeply about human rights and social justice
i believe most problems have a solution
i surround myself with intelligent people who challenge me
i actively seek out multiple perspectives on an issue
friends and colleagues usually ask for my opinion
i am typically willing to pay more for high quality
Source: BrandAsset® Valuator USA, 2011 TheEconomistCustom Study
76. target market size
strategy
Source: U.S. Census Bureau, 2011 Interim Population Projections
Source:*National Center for Education Statistics, 2010
matrix
23%
millenials
25% gen x
16%
baby boomers
24%
swing
8%
world war II
4%
US population by generation
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
16.2 16.3 16.4
16.7
17.1
17.3
17.6
14.5
15
15.7
16
16.2
actual + projected university enrollment (millions)
(fore.) (fore.) (fore.) (fore.) (fore.) (fore.)
77. targeting millenials attending universities
strategy
0%
8%
15%
23%
30%
15-19 20-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59
19,000
20,000
21,000
22,000
23,000
% subscribers of The Economist population (thousands)
population(thousands)
percentage
median age of
current
subscribers is
47
age range
78. $0
$25
$50
$75
$100
U.S. avg bachelor’s degree master’s degree professional degree doctoral degree
$97$100
$79
$69
$45
income range (in $1000s)
annual incomes between 50% and 122% higher than average
demographic annual income
79. demographic value
-$60
-$45
-$30
-$15
$0
$15
$30
$45
$60
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
cumulative net present value
avg subscriber educated millenials
$43
$17
avg. customer
lifetime: 14 yrs
avg. customer
lifetime: 20 yrs
estimated clv of
educated millenials
153%
higher
than average subscriber
age 47 age 26
customer
lifetime
value
81. high school college graduate job retirement don’t recall
Source: BrandAsset® Valuator USA, 2011 The Economist Custom Study
majority subscribers ages 18-39
introduced to
college blitz
targeting college campuses allows control of brand messaging + build appropriate
associations that will result in lifetime value
in college
82. college blitz
focus on large (>10K), top-ranked universities
within concentrated regions of educated millenials
Source: "The Vanderbilt Profile*." Undergraduate Admissions. Vanderbilt University.
% education, enrolled private undergraduate college, 2012
0.50%-0.88% 0.89%-1.14% 1.15%-1.36% 1.37%-1.59% 1.60%-5.70%
83. use average local media costs as proxy for cost of doing business
Source: BrandAsset® Valuator USA, 2011 The Economist Custom Study
college blitz
to select least cost-prohibitive schools such as
Duke University
Northwestern University
UC Berkeley
University of Michigan
University of North Carolina
University of Texas Austin
milwaukee
portland
phoenix
san diego
minneapolis
detroit
seattle
denver miami
houston dallas
atlanta
philadelphia
chicago
austin
boston
washington
san fran
new york
los angeles
cost efficient
cost prohibitive
high target densitylow target density
84. family member fellow student professor co-worker friend no one don’t recall other
Source: BrandAsset® Valuator USA, 2011 The Economist Custom Study
groups that
introduce people to
college blitz
professors + notable alumni + celebrities as brand ambassadors
85. college blitz
COLLEGE
JOURNALISM
CONTEST
MONDAY, MAY 6,
Renewing the case for electoral reform: the issue of women's
representation.
The undeniable outcome of the referendum as to whether the
Alternative Vote (AV) should be used for elections to Westminster,
held on 5 May 2011, was a resounding 'No'. The turnout was low at
42.2 per cent but, of those, 68 per cent voted against the proposal.
This may mean that electoral reform is likely to be off the political
agenda for the foreseeable future at least, if not for a generation.
This could, however, be a myopic standpoint given that there are many
who still cite the inconsistencies of the incumbent First Past the
Post electoral system and bemoan its continued existence for
elections to Westminster. AV may have been decisively defeated in the
referendum; but what of the case for Proportional Representation?
Some have suggested that the cause is not lost and that there may be
further opportunities, perhaps sooner than we think. Analyses of the
referendum result include many who believe that those in favour of
submit
articles taken from different
schools + posted on micro-site
!!!! !! !! !
88. 3M
2.5M
2M
1.5M
1M
500K
2009 2010 2011 2012 2013
$58.0
$60.8
$65.0
$63.5
$68.3
747,254
810,821
822,695
844,387
861,895
revenue (mm)
circulation
unique visitors
online mobile
digital outreach
Source:The Economist Proprietary Financial & Web Traffic data
Source: Quantcast
web traffic correlated with revenue
(∼94%)
89. digital outreach
our focus is on reaching educated millenials via digital channels
not on changing The Economist’s digital content
top 10 digital IQ
90. digital outreach
>50%
millenials
spend
5 hours/week
online
visit 9 different
websites+
Source: Experian Simmons NCS / NHCS Winter 2011 Adult 6 Month – POP
Source: Mintel
CNN
NYTimes
Time
WSJ
The Economist
0 5 10 15 20 25
2
6.4
13.1
17.9
21.6
2
comparison of news website monthly US visitors (mm)
92. digital outreach
internet is the primary source of news for Americans (44%)
Source: Experian Simmons NCS / NHCS Fall/Winter 2005,2007,2008,2009,2010,2011 Adult 6 Month – POP
68% of millenials use the internet
as the first source for information
93. Source: Pew Internet & American Life Project, 2008-2012
digital outreach
Source: Mintel
social media integration
across all branded +
digital content
#GreatMindsLikeAThink
83% of millenials
are members of a social
media platform
40% of millenials
are likely to engage in
viral behavior
free-trial digital subscriptions for
prominent bloggers and individuals
with high Klout scores
targeted hash-tag campaigns,
sponsored stories + promoted tweets
94. digital outreach
are you there now?
share your story
>51% of millenials
access the internet
via mobile devices
38% of millenials
would communicate with
favorite store/brand
via mobile
if given option
95. digital outreach
develop free
game application
available on
all digital platforms
Aung San Suu Kyi is an
opposition politician in which
country?
m y a m a r
get help from a friend
game
45% of millenials play games on a mobile device
96. measuring success
metric to track reason for tracking means of measurement
US unaided awareness
(short-term)
are our awareness-building efforts
effective?
BrandAsset Valuator’s “Brand Stature”
(“Knowledge” component)
circulation & revenue
(short to mid-term)
if awareness has increased, is it
translating to more subscribers/revenue?
TheEconomist’s internal data
average subscriber age
(long-term)
have our targeted awareness-building
tactics translated to younger subscribers?
TheEconomist’s internal data
retention rate
(long-term)
if average subscriber age has decreased,
has our assumption that younger
subscribers stay longer validated?
TheEconomist’s internal data
97. wrapping it all up
low awareness = untapped revenues
college blitz + digital outreach
increase awareness
increase subscription
i n c r e a s e r e v e n u e
has an awareness
problem
98. questions?
Amy Jaick Jeremy Berens Michael Kwon
tonight’s speakers
Ariel Brenman Derrick Chu Katie Towl Gaurav Venkateswar Xing Yuan
other team members