Richard Hall
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Who exactly is your Audience?
description
Presentation at the INMA seminar in Copenhagen "Re-creating Value in An Age of Abundance".
Transcript of Richard Hall
Who exactly is your Audience?
Would you pay …
For this …? Rules and Regulations Governing Plumbers
and Gas Fitters 248 CMR 1.00 - 11.00
Or this …?
Why should I pay for content?
“I read it, but it’s not really valuable to me.”
So how do you pay the bills?
News costs money to gather – can you
still afford to give it away?
What will happen to you if your readers
decide your content has no value to them?
What’s your content worth?
Google says:
“The whole secret here is the ads
are worth more if they’re more
targeted, more personal, more
precise.”
Eric Schmidt, CEO, Google
Writing on the wall?
Is content relevant?
Greg Hadfield, former Telegraph Media Group’s head of digital development, says:
“Most crucially, they (newspapers) need
to rethink how they relate to their
communities of readers, subscribers, and
users, when they know next to nothing
about members of their digital audience.
“They need to identify their most loyal
users and then work harder to meet their
individual needs.”
“I don't have as much time as many to
wait for the future. I want to help make it
happen now.”
Source:
http://www.guardian.co.uk/media/organgrinder/2010/jan/19/why-left- telegraph-greg-hadfield
How good is your content?
Handheld for 40 years
The UK’s No1 circulation daily newspaper.
Only your readers
can decide what is of value to them.
Who decides what is relevant?
A personalised newspaper
The value of individuated news
Advertisers eager to reach local
customers.
Ads charged at 5 cents per ad, per
subscriber (higher than online ads).
Readers read what they want to read, and
have the time to read.
People will pay your bills
ONLY if you deliver
relevance.
But first you have to
find out about the
individuals who
make up your
various audiences.
Audiencentricity
Relevance = Value.
You are uniquely able to deliver relevance.
You already know …
An individual’s:
Subscriber history
Reader Offer history
Advertising history
Accounts history
You may also know …
Their mobile and home phone number
Activity on your Website
Some of their social media activity, etc …
“How much does Google know?”
Information is valuable
Google collects what information it can –
and will use information to take even more
revenue from you.
You can collect very much more audience
data than Google, or anyone else.
It pays to deliver value
“Rich audience data enables you
to deliver value
and dominate your community.”
When you’ve got it, use it.
To be rich, use rich audience data.
Tailor your content
“In order to reach and retain profitable
customers you have to understand what
drives their purchasing decisions - and
tailor messages and products to resonate
with them.”
… Nielsen PRIZM
0
5
10
15
20
25
30
35
Aug-09
Aug-08
Source: Editor & Publisher
Time on-site is your best measure.
You have to connect the dots.
Print Mobile Web Social
Publisher Advertiser
What Google CANNOT do
Know if you are a Subscriber
Know if you respond to Reader Offers
Know your bank account details
Know your home address etc.
What Google CAN do
Deliver a very large audience
Deliver interest-based advertising based
on information about the Web pages
people visit, or searches executed.
Take large amounts of YOUR revenue!
You have to:
Acquire: lots of data, information, lists
Grow: customer spend
Manage: with offers, new products, etc
Re-educate: if their spend declines
Respect privacy – you already do all this
For Profitable Relationships
Do you also create
Value-based opt-in inducements
Membership/loyalty programs
Referrals
Affiliate networks & communities
Microsites, etc.
Small newspaper - Big business
15,000 copies circulation
1,000,000+ individuals in CRM database
$2+ millions added revenue
Burgett Mooney, President News Publishing Company
Rome, GA, USA
Direct marketing business now bigger than his newspaper business
You don’t have to be big
February 01, 20105800 7th Avenue • Kenosha, WI 53140 • (262) 657-1000
Daily paper – 22,000 circulation
Generated more than $200,000 in new
revenue the first year using the targeted
marketing
Hunt for new Audience
Map and measure the response
“Hearst launches e-reader”
Content delivery will be to an increasing
range of digital devices.
These devices are owned by
individuals. iPad Apple iPad
You therefore need to
know who these individuals are,
exactly.
Look behind the mask
Persona literally
means ‘mask’
although usually
refers to the
‘social masks’ all
humans
supposedly wear
http://en.wikipedia.org/wiki/File:Guatemala-Mask.jpg
Audience Touch Points
Web visits
Subscriber database
Newspaper articles
Smart Phone feeds
Social Media Newsletters Other Opt-ins
Audience Touch Points
Web visits
Blogs
Newspaper coupons
SMS, RSS
Social Media Movie Club registration
Only when you know …
Who they are, as individuals, can you
provide the relevance for which they are
prepared to pay.
With delivery to the platform they most
use, when they use it.
Once you know your audience
You can target any content,
ads, direct marketing, etc:
- to any individual,
- to any device,
- to anywhere.
And you can make money.
Would this keep
you engaged? !
Good looking and personal
But what if you had a Website that kept
individuals really engaged?
What if your audience could personalise
your content– just for themselves?
What if you could provide this?
Personalised targeting pays …
It provides real value for your audiences
and your advertisers.
People are willing to pay - for value.
Not cheap, but worth it! You like it It’s relevant You can afford it
So you are prepared to pay for it.
