Industry Outlook Panel Yields Words to Thrive By

“How far can companies go before they annoy their users?” asked Esther Dyson, chairman of EDventure Holdings, at last week’s Breakthrough: IIS 2013 Conference in New York. That question came up amid a discussion about information at a session titled Titans of the New Information Order. With Facebook’s new Search Graph, Google’s deeper searches and other initiatives based on user data, will the time come where people say the loss of privacy is not worth the enhanced information they can get?

Of all things, a quote from a hockey player set the tone for the discussion. “A good hockey player plays where the puck is,” Wayne Gretzky once said. “A great hockey player plays where the puck is going to be.”

Michael Perlis, president and CEO of Forbes Media agreed but said, “It is getting harder to follow the puck. Globalization is really important right now; it’s a big, big marketplace. You have to do more than just put your content out there; you have to create content that can carry your brand’s name. We’re doing that, creating high-quality content with a core professional team, digital and print.”

Perlis added that they also developed a contributor model in order to be more cost-effective about creating content (freelancers vs. full-time) and do a better job of getting social comments. Dyson noted that what LinkedIn has started doing is interesting. “They now have a bunch of bloggers,” she said. “Endorsing people, generating traffic.” Perlis said that everyone is trying to “find the right way to do it.”

“There are many different ways you [can] dole out the same content,” said David Kirkpatrick, author of The Facebook Effect. He said that what distinguishes Apple and Amazon right now is all the credit card information they have. “Amazon has more approaches, [however] and there are problems dealing with Apple. Amazon will be much more flexible.” He credited that to CEO Jeff Bezos. “He runs paranoid more than anyone – he’s unbelievably energetic to avoid the next pitfall.”

How’s that for a compliment? Perlis, on the other hand, kind of liked the idea of heading into the unknown. “There’s no playbook for where we’re going,” he said. “With it comes worry and triumph.” Referrals are driving “an enormous amount of traffic,” from both search and social,” he added. (See the article on how to get referrals in the January Hotline.)
Speaking of searches, technology reared its multifaceted head often in the discussion. “The pace of change today requires every company to think of themselves as a technology company,” Kirkpatrick said. “[You need to] immerse yourself in technology. [I've] seen way too many examples of stasis that was avoidable, fear of technology and fear of getting yourself dirty. The New York Times had research that most companies are not technological enough, and if you aren’t you won’t be here [for long].”

Thomas Glocer, the former CEO of Thomson Reuters, preferred to talk about content. (He also joked that he’s “gone from managing 55,000 employees to 2, and my goal is to have the same cash flow.”) “Content has found varied forms to showcase, but it’s really hard to showcase crap content,” he said.

“High-value content has legs where I sit,” said Kirkpatrick. “[Now] combine that with point of view. That’s what I’m trying to do-using sponsorships.”

“Both of you have talked about creating value,” Dyson said. “The most important thing is that you have to be nimble. Fluid, dynamic businesses have to be clever. Implementation counts as much as strategy today. You can control your pricing but you can’t control pricing of competitors.”

“Nimble” was an interesting word to use because David Foster, CEO of SIPA member BVR, had just recently emphasized to me the importance of “technological nimbleness for digital publishers” where solutions are integrated and disparate software work together.

Glocer also took on the subject but preferred to separate B2B from B2C. “The advantage of the professional information world,” he said, “is that it moves more slowly than the consumer world. It’s a slightly slower perch, but ultimately it’s not just content. [You need] to better filter it, have ways of personalizing it, understand the workflow of your clients, and give them tools to make it easier to fit into their workflow. The consumer world is different; it’s hard to know exactly what they’re doing.”

Dyson said that she also sees “two very different businesses: content for consumption and real investigative reporting. The thing that hasn’t been mentioned is getting your people to do whatever it is [that will work], motivating and finding the right people, running a team. Running a business is really hard. In reality, most might have great vision,” but who are the ones doing something about it?

Perlis summed up things nicely. “We’ve all experienced the collapse and the relapse, and now we can’t relax,” he said. “In the next three years, we may never get to a place where we can coast. Relaxation is out unfortunately.”


Ronn LevineRonn Levine began his career covering sports for The Washington Post and has won numerous writing and publications awards since. Most recently, he spent 12 years at the Newspaper Association of America covering diversity and Newspaper in Education (NIE), before joining SIPA in 2009 as managing editor.

IIS Breakthrough Talk Recap: How to Stay in the Forefront by Reinventing and Repurposing Your Business

 

Marie Giangrande, Public Notions

Post by Marie Giangrande, Public Notions Once a push oriented news agency, Christian Science Monitor re-invents itself with the concept of “Content Scaping”, a strategic, ongoing effort to collaborate with its readers, distributors and editors.

Known as “The Monitor”, the Christian Science Monitor is an international News Agency covering political world news across 11 countries. Faced with a continuing decline in earnings, the company embarked on a challenge to explore new digital offerings and re-invent itself.

At SIIA’s Information Industry Summit, Donal Toole, Finance and Strategy Director along with John Yemma, Editor, talked about the key actions they took to change the Agency’s direction. Today the Agency is creating premium digital subscriptions, distribution-specific packages and readership-driven content. The earnings are positive and overall growth is up.

The success of this transformation hinged on a change in philosophy and management processes. The agency started to think about their readers and distributors as new assets. And they nurtured collaboration internally and externally to understand readership needs.

The executives outlined the most impactful steps they took:

1) Tear Down the Chinese Wall

In the past, there was a ‘Chinese wall’ between the editors and readers. This was erected to maintain ‘our independent, unbiased views’ explains Donal Toole. But it meant that they did not understand what the readers wanted.

As an example, The Monitor was serving news about global events while their readers wanted ‘an analysis of the impacts’. This led the Agency to offer a premium product for Global Political Risk analysis. The executives maintain that they now see their business as a collaborative effort with their core readers. Today, they encourage readers to ask questions about articles and this is circulated to the Editorial group to help enhance their coverage.

2) Institute ‘ContentScaping’ Assessing Segments and Trialing New Offers

The term ‘ContentScaping’ refers to an internal management process to develop new information products. Executives described this as ‘constant vigilance to assess our assets and identify underserved segments’. The starting point is to use the Editorial teams to evaluate and identify new skills and capabilities. These newly identified assets are then mapped against market opportunities and market segments.

Once they make a decision to ‘super serve’ a segment, they reshape content and enter a trail phase.

“It’s very critical to test and trial every new offer, because not everything works” commented Yemma. One time they found a video interview was gaining undue attention. People were watching because there was an inappropriate joke made by a Political figure. “That was not the content we wanted to serve,” Yemma continued.

This process is on-going and has helped the organization adhere to a data-driven decision matrix while developing new content packages.

3) Build a Multidimensional, Investigative Team

“Of all the changes made, none are as important as the creation of a new Executive Leadership team,” explains Toole and Yemma. This team establishes the roadmap for the company’s products and drives the ‘ContentScaping’ process. Both executives at The Monitor underlined the importance of the multi-dimensional team to bring together varied expertise. At The Monitor, they instituted a Leadership Team across:

  • Editorial
  • Digital Outlets
  • Content Sales and Partnerships, and
  • Strategy and Analysis

Ultimately it’s the people” concludes Toole. And for us in the audience, we can only hope we have catalysts like Toole and Yemma to take us on the path of collaboration and innovation.

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About Marie Giangrande, Public Notions

Public Notions provides Thought Leadership Programs for Information Companies

Registration Tips and Tricks

The SIIA recently switched over our database and CRM system, so when registering for IIS Breakthrough 2013, you may notice the change. The new system will allow members and non-member alike to register for events, manage privacy preference and subscriptions. Its designed so that each person has an “account” that you can log into and from that account you can easily manage everything.

Since the system is new we thought we would talk you through a tutorial for the system for IIS Breakthrough 2013.

1. Login by logging in you will save yourself time on registering for SIIA events. Select the “remember me” box and the system will automatically recognize you and your preferences moving forward. You can change your preferences at anytime, under manager your account. An added bonus is that you will be logged into the SIIA site overall, so members will have access to all SIIA member resources without further logins! you can retrieve your login information here.

2. New users if you have never participated in a SIIA event, you will need to follow the 3 step process to create a user account.

Step 1 Enter your contact information. You can attach your individual user account to your company by selecting the “Find my Company” button.

Step 2 If you attached your information to a company, please confirm your company address. If you did not attached your information to a company please complete address information.

Step 3 If you are interested in receiving communications from any specific area of the SIIA, please indicate your preferences, the select the “Create Contact” button.

Once you’re done, you’ll receive an email from membership@siia.net with the Username and Password. After your initial login and registration, your information will be stored in our system so you don’t need to re-create a user ID or profile again. Note: If you think you may have an ID and forgot, contact membership@siia.net OR walk through the steps to reset on your own.

With the new registration system, you decide exactly what you want to participate in while at IIS, and all of the information will be emailed to you at the end of the registration process.

If you have a promotional code you will be able to enter it on the Shopping Cart screen of the registration process.

Finally, if you have any problems with the registration process please contact James Gerald, Event Registrar (jgerald@siia.net or 202.789.4478).

Thanks, and happy registering!