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Patrick Fuller, Group Director, Haymarket Consumer Media

Making money from digital . Patrick Fuller, Group Director, Haymarket Consumer Media. Association of Indian Magazines Congress. February 2014. Agenda. Introduction to Haymarket How our business is changing Case study one: What Car? Case study two: PistonHeads Lessons learned.

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Patrick Fuller, Group Director, Haymarket Consumer Media

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  1. Making money from digital • Patrick Fuller, Group Director, Haymarket Consumer Media Association of Indian Magazines Congress February 2014

  2. Agenda • Introduction to Haymarket • How our business is changing • Case study one: What Car? • Case study two: PistonHeads • Lessons learned

  3. Who are Haymarket • One of the largest privately owned media companies in UK • Employ 2000 people in seven countries • Across 9 divisions • We have 75 brands delivered across 10 platforms • Delivering 320 product lines • Turnover circa £200 million

  4. Our global footprint

  5. Haymarket in India Launched 2000 in a joint venture with Hormazd Sorabjee Based in Mumbai and Delhi 200 staff Seven brands

  6. Our brands in India

  7. Autocar, our market leader • Print • Web • Mobile • Awards • Events

  8. How our business is changing

  9. Volume                Value 2007 1,254,252,231 £1,920,459,496 2012 810,863,058 £1,413,590,937 Change -35% -26% The challenge in the UK Association of Indian Magazines Congress February 2014

  10. 2007 Print accounted for 78% of total revenues Digital accounted for 9% 2013 Digital is now 35% of total revenues We are forecasting 18% growth in 2014 56% of ad revenue is online We now have six times as many consumers as in our print heyday Our revenue splits in consumer Association of Indian Magazines Congress February 2014

  11. Print is not dead, but we must focus on areas of growth We must build digital products that deliver for audiences and clients This demands deep understanding of their needs Fact based planning and decision making Execution to the standards that our values demand Transition from print to digital Association of Indian Magazines Congress February 2014

  12. Core values transferred • We aim to be as expert, creative and dynamic in digital as we are in print. • ‘Digital first’ – websites and mobile • We are investing in Live – in a world of social and digital media, consumers and business people value ‘experiences ‘ • We see Data opportunities: paid leads, insight, retargeting Association of Indian Magazines Congress February 2014

  13. Markets and territories • We prioritisedour markets • We focused our investment where digital, live and data product development could meet the needs of our audiences and clients internationally • We then focused on the territories that offer most growth potential • Asia and India, where we are well placed, are at the heart of global growth Association of Indian Magazines Congress February 2014

  14. But how can businesses like ours compete? Stick to our core strengths Be confident that digital is our friend Do not sell at a discount Focus on educating staff… and clients Association of Indian Magazines Congress February 2014

  15. Research will help us to win the argument Question: which content do you trust? Source: AOP and Comscore ‘Value of Trust’ report 2012

  16. How that affects behaviour Association of Indian Magazines Congress February 2014

  17. How that affects behaviour • Source: comScore Marketing Solutions Association of Indian Magazines Congress February 2014

  18. How this affects behaviour • Source: comScore Marketing Solutions Association of Indian Magazines Congress February 2014

  19. Progress so far In Haymarket Consumer Media, we now have five online brands that generate more than 1000 lakh rupees of ad revenue a year. But remember, 86% of our population is online compared with only 18% in India Association of Indian Magazines Congress February 2014

  20. Case study: What Car?

  21. The UK’s biggest new car research brand • Magazine • Website • Apps • Mobile • Haymarket’s most successful product

  22. The power of quality content On average What Car? reviews are read 39 times a minute. In 2013 our nine-point road tests and reader reviews were read 25 million times We’ve worked hard to get here…

  23. ‘Vertical’ search: be like Google Five years ago we introduced enterprise search on to whatcar.com, which changed the way users experienced the website We had three specific goals: To publish a unique review of more than 5000 new cars Make it easier for our users to find important content Create additional high value advertising opportunities

  24. Development roadmap

  25. Learning every day Five years on, we are still at the early stages of unlocking digital We have new specialist skills We experiment We have invested in ad operations We demonstrate ROI at all times We have even visited a car factory to learn about manufacturing

  26. The challenge is still there In the 1990s, one print customer earned us the equivalent of 500 rupees Online, that figure is less than 50 rupees At the same time, our audience has gone up by more than x10

  27. New revenue streams We now turn over more than 6000 lakh rupees, more than print and at higher margin We have diversified into many new revenue streams – 20 and counting They include: Display advertising, specials and sponsorship Lead gen Finance, insurance, services Classified Video Programmatic trading Our yields are up to six times that of the competition

  28. Case study: PistonHeads

  29. A short history

  30. The challenges for Haymarket Integrate without upsetting both ecosystems Monetise, but discreetly and appropriately Live in and with the community But, above all Learn how to be truly digital

  31. PistonHeads 2014 – key facts

  32. Revenue growth – now 5000 lakh rupees

  33. How to monetise a community • Offline • Annual dinner “Black Tie and Pie” • Sunday Services events • Trackday programme • Driving Holidays • Online • Used cars for sale • Car buyer services: insurance, finance, history check • Skimlinks: revenue from post • Network and Google inventory • PistonHeads merchandise • Private Cars for sale

  34. Secret of PistonHeads’ success Simplicity of consumer and client offering Everything has a user benefit Diverse revenue streams that feed off size of audience Scaleable market to support growth

  35. So how will this apply to India?

  36. Like you, we have done the hard bit • In the week of Auto Expo, Autocar India online: • Generated 7.5 million page views • Hit an average of seven pages and over six minutes per user • Saw more than 200,000 users accessing via smartphone • Achieved 1.7 million minutes of video content

  37. The rest will follow Most Indian car companies are currently spending less than 10% of their marketing budget in digital This will double over the next 18 months They and other clients will want quality online products to carry their marketing activity ...and that’s where magazine brands are strong

  38. Finally, some suggestions Define your strengths and focus relentlessly on them See through the noise – keep it simple Restructure and see how flexible your staff can be Employ specialists in analytics and SEO Maintain high yields Remain committed to quality Buy a start-up... and use a smartphone

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