It’s not too late to start preparing for the new year. Publishing companies that have their finger on the pulse of the media and the digital market can kick off the new year with plans and budgets already set to give them more than they had in 2019.
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Here are some strategic investments for publishers and media companies for 2020.
Publishers must stay relevant to today’s discerning audiences. Popular direct-to-consumer brands are using disruptive marketing strategies to attract attention and media companies are hoping to find success there as well.
Several publishers, including The Atlantic and The New York Times, have hired growth marketers to help acquire and retain subscribers. The Atlantic has a growth group that focuses directly on audience development and data research. The New York Times is hiring new marketing roles to support its more focused products. By investing in those who speak the language of growth and digital marketing, publishers are more likely to continue building their brand and retaining their audience. And always remember the power of building brand awareness with Advertising decision makers and Influencers.
Publishers can collect a ridiculous amount of customer data that can be used to personalize and bring value to the customer experience. Within a publishing organization, all data is typically siloed among various departments. By bringing all of this data into a usable format, executives and management can make informed and strategic business decisions such as:
When a media company invests in a business intelligence tool that can analyze data and reveal opportunities, they’re supporting their marketing and sales departments striving for growth and retention.
Think of your editorial content as intellectual capital. You want to own the intellectual property rights that gives you the freedom to use it to build the brand, generate revenue and represents an asset on the balance sheet.
How is the value of the capital realized? Some people generate revenue from editorial with Paywalls, others license content and you could probably think of another set of options that make sense for your business. But the takeaway is that it can be the gift that keeps on giving, especially if you are selling your business.
Last month, it was reported that Facebook is planning to pay publishers for quality news content for its platform. With publishers vying to be the first one out of the gate with a story, some content is lacking in sources or credibility. According to the Wall Street Journal, Facebook has already pitched ABC News, The Washington Post and Bloomberg and may be planning to pay millions for reliable and trustworthy content for its “news” tab within the social media site. If other organizations like Facebook take this route, news publishing companies may be wise to invest in dedicated journalism in the new year.
First, consider eliminating Salesforce. By now, your team realizes it isn’t designed to support your business unless you are willing to open up your Financial Statement to increased expenses for ongoing contractor costs that will never end. If publishers are still using Excel or in any way piecing together media planning, it’s time to invest in another way of doing things. Even though 76% of media companies still use Excel, it’s too complex and too prone to mistakes to use as a management tool for your sales, financial and production departments..
Consider investing in a new enterprise suite designed specifically for publishers and media companies. It’s easy to make a decision to Look at what’s available and you should only pick a company that has completed a SOC1 Type II audit- LaunchPad Media Management should be your first choice.
With LaunchPad’s enterprise suite, every employee of your company has a dedicated workflow that links all your business departments into a robust workflow and powerful reporting platform. Bring your analytics from other third party marketing platforms into Each account record to the sales staff can get the answers they need to “renew” a digital customer.
These investments in digital tools, growth marketing and working closely with top digital brands can better serve media companies and publishers that want to be prepared for 2020.
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