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Has there ever been a more difficult time for publishers to keep and grow their paying audience than now? Following the recession of 2008, absolutely everyone looked to cut costs. For media consumers, that meant turning to online, particularly if the content was free. Sadly, many traditional print publishers saw this as competition and a threat instead of as a new opportunity to spread their wings.
Raphaely says family-run Associated Media Publishing (AMP), founded in 1983, wasn't immune to these pressures. Luckily, they picked up on the winds of change in the publishing industry many moons ago and took steps to future-proof their stable by taking note of the many online opportunities on offer.
Here, Raphaely shares Associated Media Publishing's strategy. It's a key one in the industry as AMP is rather prolific, publishing Cosmopolitan, House and Leisure, Good Housekeeping (including its Afrikaans counterpart, Goeie Huishouding), Marie Claire and Women on Wheels (WOW)...
Raphaely: I believe every brand (not only media brands) will have to successfully implement a digital component to their positioning to survive. In our case we have the benefit of established print products to drive and work alongside our digital properties and, yes, we can't rely on print alone to sustain and future proof our products. Our audience is using multiple platforms to gather information and engage on a 24/7 basis now so if you are not available on all platforms at all times, you are definitely not going to be able to build and grow your audience. We've shown amazing growth in our digital platforms and this is purely a result of becoming more digitally focused. For example, across AMP we've had 169% growth in unique browsers from Jan to Oct 14, 134% growth of social media fans from Jan to Oct 14, 140% growth in engaged users from Jan to Oct 14, and across these platforms we now deliver an audience of over 1 million, which is a 142% increase from Jan to Oct 2014.
Raphaely: Our content teams measure the growth in likes, 'talking about', Twitter followers, retweets and favourites in social media on a weekly basis; we use Effective Measure for our website metrics and to see which posts get the most traction. The results show an audience that loves the brands and the content that's on offer. Take just two of our brands:
Cosmo had 164% growth in social media fans from January to October 2014, and 213% growth in engaged users over the same period. Overall, we have also had 169% growth in Unique Browsers in that time span. The beauty today is that it's all there to be measured and as far as social media and website traffic goes, Cosmo is far outstripping competitors on all measures.
Good Housekeeping, on the other hand, has had 92% growth in social media fans from January to October 14 and a 573% growth in engaged users from Jan to Oct 14, which shows massive engagement with the brand.
Raphaely: There are a few principles we have used to guide our transition from print-only to publishing brands across multiple platforms:
You've also run several successful events - tell us how this increases engagement with readers - and at what cost?
Raphaely: So far this year we've run 45 events across all AMP Brands and this has become an important part of our business strategy. Events give our readers a chance to interact with our brand in an intimate way and our clients have an opportunity to activate in a way that means something to them. Every time a person attends an AMP event we include them in an events database which we can grow and monetise at a later stage.
We measure the success of our events against the following criteria:
The amount of events we run, the reader feedback and the overall contribution to our business has been incredible, so we really see a big opportunity here in 2015.
Raphaely: I do think that we follow the same or very similar online practices to our partners at Hearst International and MC International, however what we have inside AMP is the massive advantage of being very focused on our stable of brands as well as agility to remain very dynamic and act fast.
In South Africa, however, we have our own set of unique challenges, with bandwidth and access to tablets being two examples. Here, only approximately 500,000 people own tablets, but that said, we have managed to sell 17,800 digital editions of our magazines since this became a possibility. That's a lot of extra editions, whichever way you look at it.
Raphaely: My advice would be to use as many of the platforms yourself as possible so that you can learn what the experience is really like from a consumer point of view. Unless you start to understand this on a very personal level, it's going to be hard for you to understand what kind of content will work for your brand and on what platform.
I would also suggest that publishers focus on employing more Millennials in their business and once they've done that, understand how to manage and retain them properly. By 2017, they will make up 75% of the workforce, never mind future consumers, and if ignored your business will suffer in the future.
Raphaely:
Lots to think about, as 2015 looms ever nearer... For more insights, follow Raphaely or Associated Media on Twitter.