Welcome to inXcess news, a hub encompassing great information, articles, industry opinion and success stories that will hopefully stimulate your thinking.
Contained in this e-news will be industry information, a featured article on what inXcess feels is a pivotal issue within the media industry, and great marketing and sales tips and facts – plus much, much more.
Please enjoy the read, join our discussions on facebook and twitter, and use our e-news as a source of key industry information and opinion. We look forward to your thoughts and responses.
The inXcess Team
Is integration affecting your back-pocket?
Cross platform integrationis not a new idea and in-fact for some companies it’s become a hollow catch-cry despite the massive upside for Clients.
So what’s holding these companies back?
One of the factors prompted me to think back to being around 9 years old. My father and I went to the golf course every Thursday afternoon and rather than playing, my role was to pick-up the practice balls Dad chipped onto the green. A father/son activity, yes, more-so a way for Dad to perfect his game and for me to earn $10 pocket money.
It was even fun when my younger brother started joining us – although while Dad’s game was getting better from hitting all the extra balls, he wasstill only willing to pay out $10. Suddenly I had competition for my $10!
Valuing my pocket money (and perhaps displaying a Machiavellian streak) I created reasons for my little brother not to come along, “He’s too small”,“He’s naughty to the other golfers”.
The outcome? My father stopped us both from practicing with him, he’d rather let his game slip as we were both too much trouble!
Apart from the obvious poor brand, profitability and cultural arguments, the idea ofthe back-pocket’ is a massive factor affecting integration. Specifically, when it comes to cross-platform selling, the performance management and remuneration structure needs to support behavioural actions to meet objectives.
Does your organisation have mottos like “Digital First” on the wall? Plenty of nodding in meetings but little follow-through? A disconnect between goals and actual behaviour can often be traced back to the structure of remuneration and recognition & reward programs.
This disconnect is costly – companies with a strong link between enterprise strategy and rewards programs generate a shareholder return almost 40 percent higher than competitors without such strategies.
How are your Sales Executives currently remunerated for selling across platforms? Are they encouraged both behaviourally and financially? Or does selling-in another platform – whilst great for the Client and your Company overall – actually burn a hole in their back pocket through less commission, leaving them to act like a 9 year old desperately attempting to hang onto $10?
One company which seems to have got it right is Poland’s Agora Group who recently merged their Digital and Print Sales Teams and restructured their remuneration – leading to a 60% boost in Revenue. Sadly for many Australian companies the merging of digital and print sales, or even different broadcast medias, has not resulted in such a boost in sales.
Growing Revenues through Newsprint
inXcess director, Cheryl Newsom, has returned from Prague after presenting at the 22nd World Newspaper Advertising Conference. Cheryl gave a case study on online auctions, and was encouraged by comments –“its great to see that we can bring print and online together and make some money” – Mort Goldstrom, VP Advertising, Newspaper Association of America.
The conference proved to all that attended that print is not dead yet. There was a clear emphasis on what Newspapers need to be doing to keep up with new revenue strategies to grow clients advertising results.
Particular note was taken, on information supplied that print is still providing great revenue streams and that advertising spend is actually growing on a global basis.
Whilst digital is where the growth is, it is still some years away from taking over from print. Peter Zollman, Founding Principal of aimgroup.com, said, “ print is here to stay, however you just need to move with and beyond the new technologies. It’s all about participation, engagement and distribution through all channels available.”
The big news from the US is mobile and video integration and ensuring social media is embedded in your strategies.
Zollman went onto say, “ that newspapers need to engage through social media personally, by following their advertisers, and their prospects, it’s a good way to see what they are doing. “ He added,” that newspapers need to be teaching their advertisers about social media.”
Jeffrey Litvack, General Manager, Global Product Development, Associated Press, said, “Mobile is becoming critical to newspapers strategies as currently 47% of Americans access news on their mobile phones.”
Litvack said,” mobile phones will overtake PC’s as the dominant web access device by 2013. 79% of consumers use phones for shopping related activities.”
The event was very well organised and one to put in the diaries for next year for newspaper executives to find new ideas to build revenue streams.
Don’t forget newsprint, don’t give up on it, just move beyond it!
Are you wondering what to do with Pinterest?
Below is a great snippet from an article by Tony Prysten posted on Mumbrella. To view full article visit http://mumbrella.com.au/pinterest-76556#more-76556
Pinterest is a social bookmarking site on which users can share, curate and upload images. It looks and feels like an online pinboard. It’s becoming a key source of referral traffic on the web. Founder Evan Sharp (a designer) says he created Pinterest because “I was always collecting images on the web in folders on the desktop of my computer, but it wasn’t a very good system for remembering where things came from or who made them. We wanted to create a place where you can go to upload or collect things on the web and simply organize it the way you want to.”
Pinterest will be different things to different people. For me, it may be a while before it replaces my desktop of cluttered folders with thousands of images going back years. Instead it will immediately be more of a replacement to the forgotten bookmarks where, being a visual guy, I can reference a site by what something looked like.
For producers of content it is yet another way to get more exposure of great (and not so great) stuff. For product industries like fashion, homewares, bikes and so on, it’s a game changer. It’s only natural that people build style boards and then seamlessly follow through with a purchase. Progressive retailers are already pioneering in this space. Just as Twitter and Facebook introduced a new way of viewing content, I think Pinterest has the potential to redefine the way people may view the web. It could have a significant effect on website structure with people wanting or expecting to see more scrolling grid-based sites that give a viewer a real spread of content rather than being pushed into a particular direction. Giving priority to more ‘pinned’ content will also be a way forward.
Pinterest, really does ‘fill a need’. It’s new. But more importantly it’s easy. For me it replaces a bookmarking system I wasn’t using. People (not just designers) are pretty visual, so a tool that allows them to organise the things they like and want to reference in a visual way is here to stay.