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Behind Questex’s New ‘Modern’ Information Model: Combining Content, Data and Events to Go to Market Faster

Editor’s Note: Join Paul Miller at our virtual Business Information & Media Summit on Dec. 2 for a look at The New Go-to-Market Strategy: How Questex Launches Products Faster, Better and More Profitably. Join the discussion as Paul shows how Questex aligned internal assets to create a more efficient structure and leverages data to drive the entire process. Register here. 

In June, Questex announced the creation of a “modern” information services model that leverages audience data to tie content and events closer together to create a year-round customer engagement framework.

And as publishers scramble to make up for lost event revenue amidst the pandemic, the new approach also gives Questex the ability to launch new products and go-to-market at accelerated rates (think virtual events being produced over the course of a few weeks, rather than a full year, as with a live event).

Questex debuted the new approach with its Fierce Life Sciences group, aligning the Fierce content business with ExL Events, a Questex division acquired in 2016 that produces events in similar markets such as life sciences, pharma and healthcare, but until recently had operated as a separate business from Fierce.  

Tying events more closely to digital isn’t a new idea but one that hasn’t been well executed, according to Questex CEO Paul Miller [pictured]. “On a personal level, we’ve been talking about this for many years—how we combine different types of content and data and use learnings from that to bring together the community,” he adds. “We’ve almost gotten there a couple times in our past lives but not quite.”

 

Miller points to live events tacking on an online directory or virtual floor plan. “There’s nothing wrong with that but it’s not a real translation. Those of us coming from a digital background say, we’ve got all this data on content consumption, wouldn’t it be great if we use that to pull together conference programs around what’s trending.”

The Immediate Payoff

The new approach paid dividends almost immediately as Questex shifted to virtual events, with Fierce and ExL coming together to produce the Virtual Clinical Trials Online on April 22-23. The virtual event attracted over 2,000 registrants with 50 percent generated by the FiercePharma content websites. The sponsors saw over 600 booth visits and there were 2,800 downloads of content providing strong sales leads for the vendors.

“For the first time, we had complete collaboration between ExL and the Fierce team based on content, speaker recruitment and reporting on what’s going on at the event,” says Miller. “We’re thinking, let’s do things differently. If something is really trending, let’s change our conference program and launch it quickly, taking a couple weeks to plan rather than a full year.”

Elsewhere, Fierce is working with Arizona State U to launch a new virtual event in July for the education tech marketplace called Remote that will focus on how institutions are adapting higher education in the coronavirus era. The event already has “many thousands of registrants and high-level sponsors,” according to Miller.

With 70 percent of its revenue coming from live events prior to the pandemic, Questex hasn’t avoided a major revenue revision or the significant lay-offs that came with it.

But the Fierce group is up 20 percent year-over-year and there’s early evidence that the model can pay-off across the entire organization, including Questex increasing the overall number of webinars it produces (up from 199 in all of 2019 to 347 through May 2020), while its American Spa business capitalized on the CBD craze by launching a CBD-focused virtual event over the space of just four weeks, securing a quarter of a million dollars in sponsorships.

A Second Attempt at Reinventing B2B?

In many ways, the new Fierce approach borrows from Questex’s first attempt at reinventing the B2B media model with The Beauty Experience, a content and marketing platform that the company launched last fall for its beauty industry vertical that upended the “search and click” way of scrolling through websites by enabling users to choose specific content tags that they want to follow, which then serves up relevant content.

The idea was that the data produced by the feed and follow approach would help program events, identify prospects for sponsors and create opportunities to serve users beyond the events itself. Unfortunately, the Beauty Experience Event, scheduled for March 7, was one of the first to be canceled due to COVD-19. 

“Beauty is a pro-sumer market and we learned a lot of lessons from that community, says Miller. “Social is really important there and we were able to get very good in the social world, seeing which keywords work and using artificial intelligence to personalize the journey. Unfortunately, we were not able to see that come to full fruition due to the event cancellation and some market dynamics in the beauty sector.”

Getting There: Culture is the Biggest Obstacle

While Questex needed the right tech infrastructure to get the right data into the right hands, Miller says that getting beyond perceived cultural differences between Fierce and ExL was the biggest challenge. 

“We were dealing with two different cultures that hadn’t been integrated and the team didn’t do a lot together,” says Miller. “Fierce thought it did this, ExL thought it did that. But did they really? The fact of the matter was, they needed to be doing stuff together.”

While COVID-19 has been the bane of B2B publishing, it has helped Questex pushed through some of the inertia that would have held up change in the past.

“In terms of collaboration and bringing these groups together, I have to say the COVID situation helped us do this more quickly than we normally would of,” says Miller.

Miller credits Questex’s ability to break down siloes and get groups working more closely together to its Centers of Excellence, in which experts across the company come together to produce best practices in a variety of areas including audience and database, content, customer experience, and product, with topics ranging from protecting customer privacy to identifying where the customer is in the buying cycle to hosting virtual events to which headlines work best and why.

“The first thing is you need to do it to make the decision on what you want your internal core competencies to be, which is easier said than done,” says Miller. “Usually, you’re saying collaboration gives you more of a competitive advantage than really deep product knowledge. We combine the two—the markets work with the Centers of Excellence by saying ‘Our audience wants this, our advertisers wants that’, and the Centers of Excellence say, ‘OK, we have that over here, which parts work for you and what do we have to create as new?’”

Having that expertise on hand has enabled Questex to move quickly. “Someone asked, how have you pivoted so quickly to virtual events?” says Miller. “We just did it, but in essence we didn’t just do it because we have six people on our team in our Centers of Excellence who were part of creating the first scalable virtual events about a decade ago.

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Connectiv To Merge With Major B2B Publishing Associations

Editor’s note: The following is an announcement from Jeff Joseph, President of Connectiv parent SIIA; Meg Hargreaves, SIIA Board Chair; and Kevin Novak, Connectiv Board Chair. 

We hope that this email finds you and your organization in good health and steering to solid ground during this time of upheaval and transformation. We have seen Connectiv members move with impressive agility and originality in accelerating and shifting strategies and operations and we have been pleased to see strong response to Connectiv programs designed to help you navigate these turbulent times.

We are excited to announce change is coming to Connectiv as well. SIIA, the parent association of Connectiv, is pleased to announce the consolidation of ConnectivAssociation Media and Publishing and the Specialized Information Publishers Association into one newly branded association, designed to bring greater value to your membership while retaining the high value programming, content and networking opportunities that have long been hallmarks of each division. This change follows a vote and passage by the SIIA board of a streamlined FY21 budget (effective July 1) and a strategic plan framework that included both this merger and the elimination of two other separate divisions, ETIN and SSD.

The board moved with both strategic and financial considerations in mind as the organization seeks to shape a compelling future-focused value proposition, retain popular programs and conserve resources under a single leader, unified brand and updated website. These efforts were obviously accelerated following COVID-19, which has dealt the Association as well as our members difficult challenges around live events. We are confident this new streamlined and consolidated membership group will be the premier membership organization for the specialized publishing, content, and media community, as we convene, develop, educate and advocate for current and emerging leaders of an industry undergoing rapid and continuous change.

This important effort is not taking place in a vacuum. We have convened a working group consisting of board members and representatives from the three associations to help develop value-added programming, content and a governance and operating structure that provides myriad volunteer opportunities. As we move forward, your interests will continue to be well represented via a new advisory board, which we expect to announce in the coming weeks – along with the new association’s branding, staff leadership and additional volunteer opportunities for you.

Of course, we need and desire current and recent member input as we take the next steps toward building the new organization. To that end, we are working with Readex Research to conduct an online survey designed to probe on membership benefits, service gaps and needs. The insights gained from your survey participation will help ensure that SIIA continues to serve as a valuable resource to you and others in the media, content and publishing industry.

Kindly be on the lookout for a survey link from Readex this Thursday, August 13. The short survey can be completed in about 10-12 minutes, and your participation is greatly appreciated.

This letter is the first of regular updates you will receive throughout August discussing the changes and our new path forward. On August 31, we will hold a live webinar providing an update, further describing the rationale and strategy, and taking your questions. FAQs, which may answer other questions, are now available on the SIIA website.

As our members have long recognized, SIIA operates at a pivotal and difficult juncture for trade associations, exacerbated by the pandemic. We believe this consolidated approach sets a strong foundation to launch a new division, poised for the growth, serving both for-profit and non-profit entities. We hope you will share our excitement as the vision takes shape.

Please feel free to reach out to Jeff or SIIA staff with your questions, comments, or concerns. We greatly welcome and value your input as we move forward. And please let us know if you wish to opt out of future communications on this matter.

Jeff Joseph
President
SIIA

Meg Hargreaves
Chair
SIIA

Kevin Novak
Chair
Connectiv