Seven thoughts from FIPP’s Asia Pacific conference
The conference was attended by more than 450 media executives from all over the world, and covered topics including ecommerce, big data, digital newsstands and programmatic advertising.
Driven by the range of devices people have and the time of day they want to access content. It means we have to think carefully about how we use that knowledge to present our content.
The consumer is in love with it. Ad revenue from video is growing fast. Simple conclusion is that you must create video content. And premium rates go to original content.
Depending on where you are in the world, it will be between 30-90 per cent of your digital advertising revenue. This is fundamental. If you don’t know about it – find out.
The consumer, by the way they are using online and social media channels, has become a media company. Consumer should be at the centre of your strategy and you must know as much as possible about them.
We can often get trapped in too much knowledge – Geoff Hird from Westwick-Farrow Media said at this conference that small, focussed data is where you can make real money. Find out what’s really important, and focus on that. Look at your data, analyse it and work out how it can help you.
The launch of Grazia Shop was announced at this conference. Ecommerce is legitimate for magazine media companies to do, but you need specialist skillsets to implement it. The move to ecommerce has to be supported from the top, where those in charge must endorse any project.
To become a modern magazine company capable of making the transition, you need to change. You’ll bring different skills into the business, reporting lines will change – you may even need to change the architecture of your company – but this needs to happen.