AIN

How a Small Publisher Used First-Party Data To Scale Its Reach 50x

Last month Penske Media, which owns Hollywood Reporter, Billboard and Vibe, announced a new data services division called Atlas Data Studio that creates first-party data segments for marketers to target ads to specific customers.

Unlike third-party data, which is information collected by an entity that does not have a direct relationship with the user, first-party data is information collected directly from your customers. The Atlas Studio takes data points like subscriptions, membership data and virtual event sign-ups to develop information around known users.

The tidal wave of data privacy regulation (CASL, GDPR, California Data Privacy and a slew of others) combined with major tech platforms like Apple and Google abandoning third-party cookies lead many to predict the decline of third-party data and power coming back to publishers who can use that first-party data to sell high-value audiences and scale their reach beyond their own websites and communities.

While Penske joins a list of heavy hitters such as The New York TimesThe Washington PostForbes and Bloomberg in building out first-party data solutions, the opportunity is open to publishers of all sizes, provided they make the not-insurmountable investment in a tech stack that both organizes the data and makes it actionable.

“With the demise of the third-party cookie, resources are going to shrivel up and disappear,” says AnnMarie Wills, CEO and president at first-party data specialists Leverage Lab. “Organizations with deep, rich, organized and accessible first-party data will be in the catbird’s seat.”

Not Just Retargeting
Legal publisher ALM in 2019 introduced Audience First, an advertising platform that targets decision makers and influencers through first-party data and self-reported demographic data. They then use advanced ad technology to drive those messages to audience segments on both ALM channels and beyond, including social media and other websites.

ALM is quick to point out that this is different from retargeting. “Retargeting allows for an anonymous user to be followed based on cookies,’” says Matt Weiner, president of marketing services at ALM. “If I am identifying a specific individual and targeting that individual, you can see where the value starts to increase.”

How Aviation International News Scaled Its Reach 50X
Scale has always been a challenge for B2B media, which typically serves high value but niche audiences. Today’s digitally-focused marketers are demanding both scale and ROI without any wasted spending.

“First-party data is not new for B2B publishers,” says David Leach, COO of Aviation International News (AIN), which covers the aviation sector. “We’ve always tracked subscriptions and demographics with our print product. That is the same first-party data that we’re talking today but the tech stack and complexity have changed.”

With a traditional mix of print, websites and newsletters, AIN faces similar challenges to much of the B2B industry when it comes to serving digital marketers looking for reach and ROI.

“We could offer print but that includes many of the demographics they aren’t interested in specifically, and the ROI is difficult to show,” says Leach. “We could offer digital display or newsletter placement, and there is some demonstrable ROI but still a lot of unknown traffic. We could isolate our audience in CRM and target with direct email, but that could burn out our list. We could target content on our website but doing that at scale doesn’t work—it cuts our traffic and inventory too thin.”

Despite knowing more about its audience than ever before, AIN’s ability to productize this information at scale—the key part—was limited.

To jump that hurdle, AIN realized it needed to add a Customer Data Platform to the mix. Guided by Leverage Lab, AIN tapped Lytics as its CDP to an integrated tech stack that included HubSpot as digital CRM and Computer Fulfillment as print CRM.

“This brings together all our siloes of data,” says Leach. “Now what we can do is track that behavior pattern in our CRM—we have opens and clicks but also website behaviors like white paper downloads and webinar sign ups. It gives a much more robust look at our audience and brings all behaviors and activities into one profile.”

If AIN sold an advertiser on the magazines, it could target 5,600 names. With the addition of behavioral interest data, third-party lists and another 4,300 names from its other media brands, AIN can now offer a targeted audience on its own properties of more than 15,000.

AIN can then target its own readers and lookalike demographics with offsite display advertising on other websites and social media channels and drive those eyeballs back to its own brands. “We can increase our inventory by 50 times in terms of what we can offer a client,” says Leach.

Selling Audience, Not Product
AIN has shifted to selling audience, not just selling product. “That can be a hard thing for our sales staff to get their heads around but it’s incredibly powerful, especially with what marketers are asking for,” says Leach.  “This allows us to target audience at scale. In the old days, our ability to reach this audience on our own channels at scale would have been nearly impossible.”

Like ALM, Leach stresses that this approach is not retargeting or programmatic advertising.

“These are folks that we’ve identified with first-party data that we’ve collected forever—they’re a pilot for this company, flying out of this location, flying this type of aircraft and one day they might be interested in retrofitting that aircraft with a $500,000 avionics overhaul,” he adds.  “That’s who our advertisers want to reach. We’re just starting on this journey, but the results so far are very encouraging. Some of our clients are all about this while others are still doing all print. Either way, it’s still a great story to tell.”

Bobcat

Beyond Virtual Events: 3 Replacements for Live Events That Are Taking Center Stage in 2021

The cancellation of live events in 2020 (and for most, at least the first half of 2021) has forced publishers to find new ways to connect buyers and sellers, particularly as sponsors shifted ad dollars earmarked for events into all-digital channels.

Virtual events were the obvious answer but if you talk to most publishers and sponsors privately, they’ll admit they see “traditional” virtual facsimiles of live events as a stopgap to be abandoned as soon as the world goes back to normal.

Here we look at three solutions developed in response to the crisis that have performed so well that they will continue to be offered even as live events return.

1.  Social Simulcasts

AC Business Media (ACBM) covers markets ranging from heavy construction to manufacturing to supply chain and that means serving sponsors with heavy equipment to sell. As events canceled, giving customers a way to get products in front of potential buyers was critical.

“We were at CONEXPO last March just as the world started imploding,” says ACBM Chief Digital Officer Kris Heineman. “Big manufacturers had already paid millions to ship machines out to the show but they didn’t come themselves because they didn’t want their staffs exposed to COVID. When events go away they’re not going to stop producing products, they’ll start looking for other outlets.”

While many publishers produced virtual product showcases within proprietary digital platforms, ACMB created simulcasts—basically live streaming—that leveraged social media to expand the reach of its audience.

In one example, ACBM created a single livestream that played simultaneously across the seven different Facebook pages devoted to its Construction brands.

“When we first started doing this, we were concerned that the channels would start overlapping with each other but it’s actually a case of more is more—with each platform you get a certain percentage of your overall audience,” says Heineman. “Let’s say you have 1 million Facebook followers—Facebook won’t let you organically reach all those people. But if you stream to 10 different Facebook pages, maybe you reach 40,000 here and 60,000 there, so it’s all complementary.”

ACBM created a simulcast for equipment manufacturer Bobcat that drove more than 100,000 views and 800 interactions in the first few days.

“For B2B, those are high numbers,” says Heineman. “When most people in B2B say they put something on Facebook they’re usually getting two or three interactions. Not everyone thinks there’s opportunity in B2B for social media but this product proves that wrong.”

Customers continue to clamor for the live streams even as ACBM begins exploring the return of live events. “We can’t produce enough video,” says Heineman. “We’re already sold out on some channels through 2021.”

[Editor’s note: For more on how ACBM is creating social simulcasts, register for our upcoming webcast this Thursday, March 25 at 1pm ET on New Revenue From Social Media: How To Build a Live Product Showcase.]

2. Marketing Services

Marketing services have grown faster than digital display advertising in B2B media for several years now but prior to last year still took a backseat to events as an overall revenue producer for most publishers.

Marketing services has always been tied closely to events for Government Executive Media Group (GEMG) but in 2020 came to the forefront by helping customers meet their event objectives when live events came to a standstill (and finished the year with revenue up 43 percent as a group while helping to drive 20 percent topline growth for the overall company).

Frank Salatto, GEMG

“It wasn’t just about helping customers achieve their event objectives with us but their event objectives writ large,” says Frank Salatto, Vice President and General Manager of Marketing and Communications at GEMG. “Honestly, we were part of the conversation with clients like never before in how to rebuild their event programs.”

GEMG transitioned quickly to an all-digital environment by turning large live events into multi-part integrated digital programs, using content as the connector to drive audience from one touchpoint to another.

“Digital events were part of that but it’s a series of digital events that would allow you to recreate what you would get with a live event but in between those you need additive content that keeps the conversation going,” says Salatto.

Data collection and diverse capabilities helped GEMG keep revenue whole for all but one live event booked prior to the pandemic.

“There is opportunity in the data that you can collect,” says Salatto. “That’s always been a pain point for live events. But in digital we know what customers are interacting with across a much longer time-period and we know more about them including how interested they are and how ready they are to buy.”

Branded websites proved to be a winner for GEMG last year and will continue to be a key product in 2021. “That turned out to be a great vehicle for brands to tell their story and drive sustained engagement over time but also a way for us to have a center piece for really large, long term programs and have tack-on revenue beyond the initial build,” says Salatto.

GEMG expects a similar marketing environment in 2021 and is looking to capitalize on its stable which includes branded microsites, immersive articles, video and audio, digital event integration and data visualization.

“We believe this is sustainable and there’s room to grow,” says Salatto. “The net of this is that 14 out of our 15 top clients have marketing services central to the program they bought with us. We are not a huge piece of the revenue pie as an individual unit but we are a driver of topline revenue and a significant part of the pathway to bigger revenue programs.”

3. Attendee Data

You’ve likely heard of first party data and third-party data but how about zero party data?

At our recent Business Information and Media Summit, Informa Markets chief digital officer Jason Brown, who leads a newly created group called Informa Markets DNA, showed how the company is finding new revenue by leveraging event audience data into a new take on lead gen that not only creates revenue in the interim but promises to elevate the value of Informa’s live events when they return.

That includes creating online marketplaces that are enhanced versions of the show directories that Informa produces for its live events. Customers can use the online marketplaces to search products and suppliers, discover new products via a recommendation engine, make connections, create a virtual “walking” or favorites list and register for other Informa physical and virtual events.

The online marketplaces also provide Informa with “zero party data” where users offer direct insight into their interests through their use of the marketplaces, which helps Informa create authenticated data that shows not only who a lead is also their buying intent.

“We take our first party data, the third-party data that we can buy or borrow and the zero-party data given to us by our audience when they are specifically after something and combine that information together to create something called authenticated data,” says Brown. “If we do all of that correctly, our gray cloud of a data lake becomes a green cloud of known buyer status. That’s where we can say who our buyer is and where they are in the funnel.”

In addition to the traditional model of offering leads as part of a one-off sponsorship, Informa is moving toward an annual subscription model that includes,

  • continuous access to fresh data
  • ability to count, segment and modify criteria for best data selection
  • intent scoring
  • ability to create a sales pipeline that feeds directly into the customer’s CRM

“Instead of bundling and packaging programs, this is an annual program that you can subscribe to and we can present different layers and opportunities to you,” says Brown.

‘We Will Never Do a Virtual Event’ – Why Winsight Is Doubling Down on Sponsored Communities in 2021

Events are big business for Winsight, which pre-COVID 19 produced nearly 50 trade shows and conferences (including the 40,000-person National Restaurant Association Show).

However, unlike many of its peers in B2B media, Winsight has not jumped on the virtual event bandwagon. “We will never do a virtual event,” says Amanda Buehner, Executive Vice President of Convenience Media and Events. “They don’t work. In our space, we have restaurant owners and operators who can’t spend a couple hours away from their jobs. Webinar attendance and engagement were going down even before the pandemic. We knew we needed to do something different.”

Instead, Winsight is focused on producing online communities offering participants unique content and interaction and sponsors direct contact with highly qualified prospects.

Last year, Winsight tested the model with the launch of three online groups (Outlook Leadership, Restaurant Technology and Restaurant Recovery) and last week announced the upcoming debuts of three more, including Restaurant Community (which goes live Jan. 28), CRU Community (which builds off Winsight’s Convenience Retail University conference and launches Feb. 23) and FSD Community (which serves food service directors and launches March 23). A fourth, FSTEC, will roll out this summer.

Each community is built around three pillars—community, content, connection. “The community part is about the audience,” says Buehner. “Our live events can draw a couple hundred to several thousand attendees. With a virtual platform, we can reach more than that and knew we wanted two-way discussions instead of webinars just speaking at you.”

Content, Connections and VIP Access

The communities produce new content each week that Buehner describes as “raw and real,” including “Talks from the Top” interviews with C-suite executives, Origin Stories on how industry figures got their start and By the Numbers, featuring industry metrics and analytics supplied by Winsight’s data and research arm, Technomic.

Within the communities, Winsight handpicks 20 VIP members to be part of Share Groups that have direct conversations around topics such as workforce, technology and more.

There is no fee for participants but members must provide registration information as well as answer drill-down questions on their qualifications, budget authority, need and timing. Each sponsor gets to meet these qualified retailers/operators one-to-one.

“If you can connect me, as a supplier, with people who are not only registered but also have the excitement, the need, the budget and the authority to purchase say, open air refrigerators for restaurants, that’s cool,” says Buehner.

Building Communities

The Communities are built on a proprietary platform that Winsight developed in-house that locks into a user’s single Winsight sign-on, while discussion boards run on Vanilla Forums.

Every week, a dedicated e-newsletter for each community targets between 40,000 and 80,000 uniques touting new content and upcoming programs.

“E-newsletters are the biggest push,” says Buehner. “We’re also doing social media for branding and air coverage and using every tactic possible within our own sites, including interstitials and chat bots. For Restaurant Community, we have more than 2 million impressions within the Winsight platforms and social media.”

Buehner expects thousands to register for Restaurant Community over the next few months. While the initial three communities launched last year had lower user targets (due to only being live for three months), each exceeded their goal, she adds.

Sponsorships and Sales-Qualified Leads

The communities are monetized exclusively via sponsorships, which command between $7,500 and $50,000 and offer three components:

  • One-to-one meetings with qualified buyers. “Every one of our sponsors can join a Share Group, listen and learn, and have one-to-one meetings with qualified buyers,” says Buehner. “We are giving our sponsors the opportunity to engage with sales-qualified leads—to date we have only seen marketing-qualified leads.”
  • Speaking opportunities, ranging from leading educational sessions to aligning with thought leadership by introducing CEO speakers.
  • Air coverage (branding) that includes the sponsor’s logo in the weekly e-newsletter, logos within the communities, the chance to include branded collateral in sample boxes sent to the members of each Share Group and dedicated microsites. “Notice we are not using the term ‘virtual booth’ – that doesn’t work,” says Buehner. “We have heard so many key sponsors say, ‘I don’t want to talk about a virtual booth.’ People purchase through the meetings we concierge for them.”

Retraining Events Staff for New Roles

While most event professionals lucky enough to retain their jobs pivoted to producing virtual events last year, Winsight retrained its events teams to produce communities.

“This is all-hands-on-deck,” says Buehner. “We told people across the company that we needed between 20 percent and 80 percent of their time to get this up and running.  We all learned new jobs in the last six months–marketing teams that were doing live events previously are now doing communities. We had to retrain our sales team to sell communities and convey value.”

Fifteen different areas within Winsight collaborate on the communities, including Content, which manages speaker topics and recruitment; Platforms, which vet the technology and manage logins and registration; Sponsor Relations, an existing team that now pivoted to selling community sponsorships rather than booths; Editorial, which runs discussion boards and moderation; and Recruiting, an essential component of building and maintaining the communities.

“You can put out two million impressions promoting these communities but it’s those personal relationships that get these owners and operators to register,” says Buehner. “We have a whole team that’s constantly sharing the story of the value of our communities.”

When Events Return

With most of the industry hopeful for the return of live events in the second half of 2021 (Informa recently saw a stock jump when it announced plans to resume live events in the U.S. in June), digital communities will continue to play a major role going forward, according to Buehner.

“This is another touch point for our audience and sponsors,” she adds. “We will continue the communities since not everyone can attend every live event, but they can always make it to a community. For sponsors, this is a great complement to our live event—they can meet with potential partners then see them at the live event. We set goals internally for these communities and three weeks into 2021, we’re halfway there already.”

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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

Data protection vector illustration. Cartoon flat database protecting concept with tiny character holding key from lock for bank account password, email, electronic wallet, document files background

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.”