With the constantly changing media landscape, do you know where your business is headed? Do you have a clearly defined path for growth? We recently tapped into our niche brain trust to learn more about media company trends in 2017.
New opportunities in audience data:
Krystle Kopcacz, CEO of Rev
“The future is bleak for those who aren’t investing in collecting, cleansing and leveraging their audience data constantly. Audience data provides the basis for the advertising and services business. A simple place to start that will bring immediate business value is attempting to assign value to each name in your database by asking what they might buy in the coming year. This is traditionally done through buyer surveys, and I would still recommend leveraging that as a differentiator. It creates an opportunity for you to tell advertisers that your database represents $X million in potential value for them, vs. a raw arbitrary number that doesn’t prompt their action. And, in the future, when you deliver campaigns, you’ll have something to talk about beyond a click-through rate.”
The successful business culture of the future:
Don Harkey, Co-Founder and Chief Innovation Officer at People Centric Consulting Group
“High performance cultures have reliable systems that support their culture. They hire, on board and train in a way that puts the right people in the right roles. They communicate effectively between departments through effective and energizing meetings. They have managers who develop and inspire their people to perform at a high level. They are constantly improving their processes at all levels of the company. Finally, they engage in strategic planning and goal setting that helps everyone in the company know where they are going and what each person needs to do to get them there. The results will be more successful companies with higher profitability filled with employees who live and work within their core strengths and passions with clarity and purpose.”
M&A trends for media companies:
Phil Binkow, CEO of Financial Operations Networks
“Prepare (beforehand) with advice from experienced buyers and sellers. Buyers will continue to become more sophisticated and the abilities to separate the irrelevant from the meaningful will increase in importance to buyers.”
Editor’s note: If you want to learn more, from Krystle, Don and Phil (along with CEO Benny DiCecca and Publisher Paul Reulbach), they will be speaking at the Niche CEO Summit in Nashville, Nov. 14-15. Join the conversation.
About this blogger: Diana Landau is the Content Wrangler for Niche Media. A former sales director and corporate marketing hack, she has now found nirvana in writing and wrangling quality content. Diana is a food, wine, art and SF Giants enthusiast…who sometimes gets carried away.
Niche Media has created super niched-out events specifically for magazine publishers for over 12 years. We’ve helped pave the way for the era of boutique events that connect specific audiences and provide great educational, friendly and super-fun environments! Check out the all new Super Niche event, March 27-29, 2017!