As eMarketer recently reported, internet radio is in the midst of tremendous change. Its young, highly engaged audience is expected to double over the next four years thanks to smartphone streaming and in-car Wi-Fi. More access means more diversity, allowing listeners to personalize playlists and consume content across platforms. As an example, Pandora allows registered users to create personalized stations around a favorite artist, song or composer. This registration information, coupled with content affinity and consumption patterns opens up a great opportunity for marketers to target this audience with increased precision and relevance. Sounds great, but does it work? Just as with other highly engaged online audiences, the answer thus far appears to be yes. And apparently, the result has compounding effect.
...Connect:
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0 comments 1,083 readsPosted on 2011-06-16
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0 comments 847 readsPosted on 2011-05-20
In Part I of this series, we covered the first phase of turning your data into $. While this series has focused primarily on the media industry, allowing us to cover the multiple revenue streams unique to that business model, the experience I'm sharing also applies directly to any organization that's building or trying to improve their CRM capabilities.
Once you've laid the groundwork... (1) development of the data environment (2) completion of a preliminary segmentation, and (3) delivery of a basic roadmap to improve and automate targeting capabilities, you are ready take it to the next level.
While these are not absolutes, the two primary ways to do that are (1) development of current and potential value models that expose the 20...
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0 comments 907 readsPosted on 2011-05-06
A few weeks ago Forrester released a case study on our efforts with client ESPN to maximize their audience data to drive marketing revenue. That prompted a post outlining what we believe to be the four fundamental drivers of value in the media industry, categorically (1) data volume, quality and value (2) targeted ad packages that are easy to sell (3) value models that prioritize your CRM efforts, and of course (4) the right supporting infrastructure.
The most critical advice we can give is, do not be overwhelmed by the amount or distributed nature of your data. You have to build on what's in place first, and in some instances you can have an actionable segmentation within 12-16 weeks. The consolidation and analysis of existing data alone can produce immediate insight while you lay the...
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0 comments 839 readsPosted on 2011-03-17
We
have partnered with ESPN for over four years to build a Fan Relationship Marketing (FRM) capability and culture within the organization. What does this mean to them? It means maximizing audience data to drive revenue growth for the benefit of marketing, ad sales, and editorial. That's a tidy little sentence with a tremendous amount of team effort behind it. But it is achievable, with the right plan, focus and discipline. Let's start with key drivers of value and Forrester's recent case study on our joint efforts. Then, in a series to follow I will cover the "what" and "how" of getting started.
In our experience, there are four key drivers of value in the Media industry:
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0 comments 807 readsPosted on 2010-08-02
"Abridged" versions online? What a bad idea for the online reader and the publisher. Instead of full stories, Time Magazine's online readers get an abridged version (a puny little paragraph) followed by three possible upsell suggestions:
- You can buy the issue on the iPad... that's helpful, thank you, when I am currently reading the article on a clunky old PC and needed yet one more reminder that my digital world is limited
- You can buy a Time Magazine subscription... why would I buy a print subscription when I am currently consuming the content online... yes, that would be great, please mail me the magazine so I can read the full article in 7-10 days
- Or you can buy a digital Time Magazine subscription... but I only care about this one article, I don't want a whole subscription... so why not make a few bucks by allowing me to just pay for the article... or how 'bout a day pass where I might discover...
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0 comments 839 readsPosted on 2010-05-17
The 2010 Forrester Marketing Forum focused at a high level on adaptive marketing. What does that really mean? Responding to the market, performance based decision making, or understanding and integrating emerging platforms such as social? Triple yes, and the Forum covered them all. But all of these tactics, while making a marketer more efficient, may not necessarily make them more effective.
What's the difference? You can improve budget efficiency by managing channel performance to drive down CPL, CPA, or whatever your campaign metric may be. Dell did it for a decade before they hit a ceiling. Then they realized they needed a new weapon, customer intelligence. You cannot truly achieve sustainable program effectiveness, regardless of campaign or channel, without it. As a result almost every analyst and guest...
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0 comments 1,238 readsPosted on 2010-03-19
The healthcare industry made up less than 1% of the total online ad market in 2008. But as patient populations migrate to this information rich channel, that outlook is quickly changing. Healthcare is now projected to be one of the highest growth industries in interactive over the next 3-4 years, alongside CPG, Media & Entertianment and Automotive.
To capture these new dollars, online content publishers are expanding their coverage on health to attract communities and the companies who want to reach them. As an example, iVillage this week unveiled a new health channel and a new partnership selling ad sales for Eatingwell.com. Customer engagement and digital agencies have developed vertical expertise to navigate this regulation-charged information exchange, and we are no exception. In fact, Quaero has a growing base of clients in healthcare and pharma because these clients value our industry expertise. The layers of...
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0 comments 1,007 readsPosted on 2010-02-24
Ty Amad-Talylor, founder and CEO of FanFeedr (a real-time personalized sports feed), made the rounds last week with an article he wrote about the rise of prestige as an online monetization model. Another damning article about the value of today's CPM, making the case to replace the ad model with alternate payment platforms based on some sense of social hierarchy. But in reality, new mechanisms such as this also create yet another way to place relative value on a user that will ultimately translate into back into ad $.
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0 comments 1,340 readsPosted on 2010-02-18
Most marketers typically have mountains of data at their fingertips but often struggle to translate the stream of reports in their in-box to actionable outcomes for their business. These reports often reflect the competing interests of internal stakeholders. That's why when overhauling your measurement system we think it's critical to start by focusing the organization on one critical business metric.... one that marketing, sales, finance, and customer service can rally around. This might be a customer value or share of wallet metric, something each member of the organization feels it can move the needle on. Your entire framework should cascade from this clear corporate priority.
To...
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0 comments 1,758 readsPosted on 2005-08-15When sales are down, people ask questions. The answers are generally a litany of conjecture about what's behind the fatigue in the list, leads, close rates or market conditions—and let's not forget everybody's favorite scapegoat, stale creative. Despite the flying conspiracy theories, no one in the organization knows exactly what's causing the decline, and fingers are pointing.
Without a fully understood diagnosis, marketing executives are brought to the table and asked, "If I gave you another million dollars to spend, what could you with it?" This usually results in a one-time econometric modeling exercise forecasting the potential return on that incremental spend in a vacuum. And depending on the volume of the sales deficit, the immediate prescription is likely to be your garden variety mass market promotional advertising blitz.
In my 13 years in marketing, I have witnessed this quick fix, dead-end pattern dozens of times. And...
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