“Failure is not an option.” This line became famous after the movie Apollo 13 was released and is one of those ubiquitous lines that many, many in business have used for years.
However, is that still true? Isn’t some failure really a measure of success?
In today’s world, projects fail every day. Google has shut down multiple projects in just the last year, but I don’t think they considered this a failure. In many ways, this has shown them what works, what doesn’t, and how to improve on the next project.
Even Apple, as perfect as it may seem, has had multiple failures in its past. The Apple Newton, the Pippin, and “Hockey Puck” Mouse are products that many of us have never heard of, but Apple actually released these to the general public.
What it has taught a company like Apple is to develop fewer products, but ...... [more]
15 March 2015 · by Lon Haenel
People love video. With its moving colour and sound, brands today tell their stories on a seemingly unlimited canvass.
For as long as nearly the oldest among us remember, video has been a part of our lives. It has entertained, educated, provoked emotion, announced wars, showcased sporting champions, announced current events, and provided a forum for every imaginable topic.
It’s no wonder that video is surging now online.
Machines love video, too. Google is one such a machine. It loves video so much it operates YouTube, the world’s biggest video search engine. If you’re running a digital agency — or if you’re just in the media space helping small- and mid-sized businesses with digital — sit up and pay attention to the benefits of online video.
In 2014, digital video advertising spending grew 56%. By 2018, the U.S. online video ad market is expected to reach US$12.8 billion. Currently YouTube owns about 20% of the marketplace.
But why should our local SMBs care about video? Because people love video and ...... [more]
09 March 2015 · by Geoff Tan
The best tactics in the world, the most creative of ideas, and spirited exuberance among colleagues – these are the ideal ingredients to guarantee your company a bright future and continued success, right?
Sorry to disappoint you, but all these positive attributes and more will all come to naught if it lacks the right – yes, you know it, so just say it – culture.
Strategy for breakfast
Now, let’s take it one meal at a time.
Wasn’t it Peter Drucker who said that “culture eats strategy for breakfast?” Although most of us can attest to the importance of both strategy and culture, anecdotally most organisations seem to pay more attention to the former rather than the latter.
I like the way assistant marketing manager Elise Mackay put it when she wrote on her blog that “culture is going to be the driver of your business, and strategy is the road map. So if we don’t have the engine, we’re not going to ...... [more]
04 March 2015 · by Bob Provost
This is the third in a series where I have advocated for an expanded vision of the marketing mix that embraces several additional and obvious, yet undervalued, strategic factors necessary for success today.
Many media companies today have addressed the traditional four Ps (price, product, promotion, and placement) of the marketing mix. They have developed a robust array of digital and traditional solutions for both advertisers and content consumers (products).
For the most part, they have priced them competitively. And they have communicated their availability comprehensively (promotion and placement). Yet success eludes them.
In today’s media environment, there are too many competitors offering comparable solutions. Successful differentiation and positioning relies on an expanded definition of the marketing mix.
My December blog post urged marketers to recognise that success today and in the future is rooted more than ever on the human resources, talent, and workplace culture (the fifth “P” – people) of your organisation.
Too often, marketing strategists overlook ...... [more]
26 February 2015 · by Phil Schroder
Audience is one of the top key metrics at media companies in the world now. While it used to refer to just the print newspaper, it now encompasses paid print, free opt-in products, Web sites, mobile apps, and social media sites.
In fact, the Alliance for Audited Media (AAM) is now encouraging media companies to report on all of these metrics with its consolidated media reports, which really tell a picture of the brand and the audience that we reach on a multitude of platforms.
Over the last several weeks, I began noticing a hashtag on my Twitter feed called #AdviceForYoungJournalists. Some of the tweets were humorous in nature, while others offered some serious advice.
However, one thing that I found missing was what focus journalists should have to reach their future audience. That’s when I decided ...... [more]
11 February 2015 · by Scott Stines
Every day we are presented with opportunities – and challenges – that, if we had the time, resources, and capabilities, we would gladly pursue to our advantage.
Two recent examples of seizing opportunities and meeting challenges played out last week at newspapers in Corpus Christi, Texas, and Toledo, Ohio. Nearly 1,500 miles apart, these two cities have little in common other than both having great local newspapers.
Hamp Rogers, circulation sales director at the Caller-Times (E.W. Scripps), had lived in South Texas for more than a decade and was familiar with the widespread fame of the performer Selena, the “Queen of Tejano Music.” Selena, a Corpus Christi native, had been killed in 1995. The major music auditorium in the city is named for her, and the Selena Trail is a popular tourist attraction.
The Thursday edition of the Caller-Times would feature a front page story on the Celebrating Selena Festival, and Hamp knew it would be good for single-copy sales. He just didn’t know how well.
After hearing reports from the field that afternoon about strong single-copy sales, Trent Spofford, digital director at the Caller-Times, suggested ...... [more]
09 February 2015 · by Geoff Tan
Controversial as this headline may sound, the challenging media and publishing scenarios witnessed the world over could do with some stark and drastic measures to help prop up bottom lines and unravel new and untrodden paths toward growth.
Not since Johannes Gutenberg’s invention of mechanical movable type printing more than 570 years ago have we been more in need of a whole new rethinking of the business.
The debate today is not about how we can sustain the newspaper “print” business in the 21st century. Most, if not all, published print titles are now available across a multitude of platforms and form factors.
The US$64 million question confronting traditional publishers and media owners in this day and age is: “How can we sustain ...... [more]
03 February 2015 · by Lon Haenel
It’s a word that is used often these days. Often it is connected to technology. We are students, teachers, or beneficiaries of innovation — or all of the above. But is it more than technology?
That’s a question I asked.
To get a broader view of innovation within the news media industry, I spoke with Nancy Lane, executive director of the Local Media Association. Nancy has organised so-called Innovation Tours; one visited Silicon Valley and another was in Chicago. They dropped in on Google, Facebook, LinkedIn, Groupon, Sprout Social, and many more.
She told me about three common ingredients of innovative companies.
- Culture must be No. 1. We’ve all heard about the swank, and often times disruptive, floor plan and furnishings at ...
29 January 2015 · by Bob Provost
Many media companies today have addressed the traditional 4 Ps of the marketing mix. They have developed a robust array of digital and traditional solutions for both advertisers and content consumers (products). For the most part, they have priced them competitively. And they have communicated their availability comprehensively (promotion and placement). Yet success eludes them.
In today’s media environment there are too many competitors offering comparable solutions. Successful differentiation and positioning relies on an expanded definition of the marketing mix, one where you must embrace a new role as a partner.
My December blog post presented the first installment of an expanded vision of the traditional four Ps of the marketing mix (price, product, promotion, and placement) taught internationally at colleges and universities. In that blog post, I urged marketers to recognize that success today and in the future is based more so on the human resources and talent (the fifth “P” – people) of your organisation than on your IT infrastructure or capital assets.
Too often, marketing strategists overlook the acquisition, retention, and currency of the strategic human resources necessary to make all the other parts work. This time around, as promised, I will discuss the sixth “P” – partners.
Let me begin with an anecdote ...... [more]
18 January 2015 · by Phil Schroder
Print is dying. Digital is the future. Mobile is where you need to focus.
Isn’t that what we hear every week in the media news world? And to some extent, that may be true.
In a story from Digiday on the New York Times’ Innovation report leaked last year, we found that digital subscriptions have grown 700% in only three years, and that added revenue has helped to offset print losses to produce an increase in total circulation revenue.
However, as fun as digital may seem, print still fills the coffers at most ...... [more]