REVENUE GROWTH STRATEGIES MIKE WINKLEMAN, LEVERAGE MEDIA LLC CAMILLE WALKER, AMERICAN ASSOCIATION OF CLINICAL CHEMISTRY MAGGIE MCGARY, SOCIETY OF FIRE PROTECTION ENGINEERS PATRICK FARREY, INSTITUTE OF PACKAGING PROFESSIONALS

MAKING THEM WORK FOR YOU

FOLIO: ASSOCIATION SUMMIT, MAY 3, 2016

OUR PANELISTS

‣  Patrick Farrey Executive Director Institute of Packaging Professionals

‣  Maggie McGary Marketing & Communications Manager Society of Fire Protection Engineers

‣  Camille Walker Manager, Business Publications & Marketing American Association of Clinical Chemistry

‣  Moderator: Mike Winkleman President Leverage Media LLC

OUR FOCUS TODAY

‣  Demonstrated revenue growth through print and digital products and publications

‣  But not through sources such as events, sponsorships, and dues

THINKING ABOUT REVENUE STREAMS

‣  Push the envelope ‣  Explore new options ‣  Look for evidence ‣  Don’t dismiss new ideas ‣  Make them work for your association

WHAT’S DRIVING CHANGES IN REVENUE MODELS?

‣  Decreasing ad sales

‣  Demanding advertisers

‣  New channels

‣  New forms

‣  Consumer acceptance of new channels and forms

‣  Metrics

‣  Competition

TRENDS TO PAY ATTENTION TO

‣  Print vs. digital

‣  Content marketing

‣  Branded content

‣  Brand newsrooms

‣  Content studios

‣  Multichannel content

‣  Responsive design

‣  Programmatic ads

‣  Native ads

‣  Advertorials

‣  Embedded video

‣  Webinars

RECONSIDER CONVENTIONAL WISDOM

‣  What members want

‣  Reader concerns

‣  Advertiser concerns

‣  The competition

‣  Print publications

‣  Church/state walls

‣  Regulations

‣  What other pubs do

BRANDED CONTENT: SOME CONTEXT ‣  What it is ‣  Where it’s thriving ‣  What consumers think ‣  What brands think ‣  What publishers think

‣  9 out of 10 organizations now market with content

‣  Marketers spend about one-third of their budgets on content marketing

‣ More than half of marketers expect that spending to increase

‣  New title: Chief Content Officer

BRANDED CONTENT IS THRIVING

‣  $7.9 billion in 2014, up from $4.7 billion in 2013

‣  Estimated to hit $21 billion by 2018

‣  More than three-quarters of Online Publishers Association members produce native advertising

‣  Native ads produce higher lift for both brand affinity and purchase intentions than banner ads

AND WITH IT, NATIVE ADVERTISING

‣  85% say they prefer to learn about a company through content, not an ad

‣  75% say they know branded content is selling them something—but that’s fine so long as it’s informative and entertaining

‣  67% say they’re grateful for branded content—and respond with loyalty and purchases

WHAT DO CONSUMERS THINK?

‣  PR firms and ad agencies are getting into the game

‣  Brand newsrooms are proliferating

‣  Content is the approach of choice

WHAT DO BRANDS THINK?

‣  Panacea for slow traditional print sales

‣  Online native ads drive more response than banner ads

‣  Major publishers creating content “studios”

‣  Publishers see their properties as “brands” and look to use branded content, in all its forms, to generate new revenue

WHAT DO PUBLISHERS THINK?

‣ Resist?

‣ Reject?

‣ Reduce?

‣ Adjust?

‣ Adapt?

‣ Adopt?

WHAT SHOULD ASSOCIATIONS DO?

10 STRATEGIC PRINCIPLES

1.  Don’t give up on print 2.  Success can be counterintuitive 3.  Educate your board and members 4.  Listen closely to advertisers 5.  Rethink editorial calendars 6.  Create a wide array of sales offerings 7.  Invent on the fly 8.  Cross-sell and cross-promote 9.  Increase sales team sophistication 10.  Use analytics strategically

DON’T GIVE UP ON PRINT 1. ‣  Make it part of your digital plan ‣  Strengthen your print offerings ‣  Listen to your readers’ preferences

SUCCESS CAN BE COUNTERINTUITIVE

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‣  Rethink trim size ‣  Rethink circulation ‣  Rethink frequency

EDUCATE YOUR BOARD— AND MEMBERS

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‣  About branded content ‣  About the complexity of the sale ‣  About working with service providers ‣  About working with advertisers

LISTEN CLOSELY TO YOUR ADVERTISERS 4.

‣  And to your members ‣  Interpret what they’re saying

RETHINK YOUR EDITORIAL CALENDAR 5.

‣  Across all offerings ‣  Create better advertising tie-ins ‣  Don’t do what you’ve always done

CREATE A WIDE ARRAY OF SALES OPPORTUNITIES

6.

‣  Make sure they’re scalable ‣  Make sure they’re integrated ‣  Make sure they cross platforms

INVENT ON THE FLY 7. ‣  Add new, unexpected, and creative

options in response to what you’re hearing from advertisers and sponsors

‣  Don’t be afraid to fail

LOOK FOR WAYS TO CROSS- SELL AND CROSS-PROMOTE 8.

‣  Within your association ‣  Outside your association ‣  Throughout your industry

INCREASE THE SOPHISTICATION OF YOUR SALES TEAM

9.

‣  It’s a more complicated business than ever ‣  Train them to think more expansively ‣  Build products that move beyond the traditional ‣  Leverage audience, products, teams, metrics ‣  Sell relationships, not just products

USE ANALYTICS STRATEGICALLY 10.

‣  To shape your overall strategy ‣  To see what is driving readers—and where ‣  To determine future offerings ‣  To demonstrate ROI

Folio Association Media Summit

Market-Tested Revenue Growth Strategies: Clinical Laboratory News

Relaunch

4/29/16

The American Association for Clinical Chemistry (AACC) is a global scientific and medical professional organization dedicated to clinical laboratory science and its application to healthcare. Our leadership in education, advocacy and collaboration helps lab professionals adapt to change and do what they do best: provide vital insight and guidance so patients get the care they need.

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As a leading not-for-profit news magazine in the field, Clinical Laboratory News (CLN) delivers trusted news analysis for more than 36,000 leaders in laboratory medicine.

Published monthly by the American Association for Clinical Chemistry (AACC), we are stewards of our members’ reputation in the healthcare community, and CLN is known for its reach to diverse stakeholders in medicine and science. But our readers also count on CLN to spark conversation and reflection, and tackle controversial problems in the field.

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July 2014 CLN Relaunch• A Readex Research Reader Survey was sent

out via email to 15,016 CLN readers in November 2013

• Survey findings: 53% of CLN readers preferred a smaller size publication (8 /12 x 11 size)

• Clinical laboratorians preferred a more compact, easy to carry and store, standard publication size that fits into a laptop bag and shared with colleagues

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July 2014 CLN Relaunch• Based on the Readex Research Reader survey

findings and lab medicine publications market climate, the timing was right to relaunch CLN as 9 x 10 7/8 magazine size publication.

• AACC commercial printing vendor, RR Donnelly provided paper manufacturing and printing cost analysis based on quantities printed and trim size

• RR Donnelly also provided a 2nd and 3rd class postage impact analysis based on quantities mailed and various trim size

• CLN Dummy Books samples were created to determine which trim size, paper stock, and brightness levels would produce a high quality publication

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Clinical Laboratory News relaunched in July at the 2014 AACC Annual Meeting and Clinical Lab Expo in Chicago, IL

Tabloid Size: 11 x 14 Magazine Size: 9 x 10 7/8 6

CLN July 2014 Issue

• New look and layout• New CLN logo• Gold belly band w/ a

note from the Managing Editor about the newly relaunched CLN

• Bonus distribution of 4,000 copies to annual meeting attendees

• Size, paper stock and quality improved ad placement appearance

Results and ROI

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Laboratory Publications3 Year US Print Advertising Update

SocietyofFireProtectionEngineers(SFPE)

FromCustomPublishertoSelfPublished

From2001-2015

• Revenuesplitarrangementwithcustompublisher• Magazineavailabletoanyone• Contentdidn’tliveonoursite• Nosalestransparency• Nocontroloverourowninformation,products• Cannibalizingmembershipduesandcorporatepartnerrevenue

Transition• Mademagazinemember-onlybenefit;decreased

circulationfrom19ktoaround4500• Broughtallin-house--magazine,digitalversion,allarchived

content,enewsletters,sponsoredwebinars,jobboard• Outsourcedsales,design,editorialsupport,enhanced

digitalformat,upgradestoemailmarketingplatform• Redesignedmagazine,rebrandedenewsletters andadded

one,launchedjobboardwithenhancedofferings,newsponsoredcontentofferings,streamlinedsalesacrossallproductsratherthandisparate

• Migratedarchivestooursite,newnewslettercontentlivesonsite

ResultsAsof2016Q2

• Magazine:at169%oftotaladrevenuefor

2015--andthat’sAFTERallexpensesfor

producing,printingandmailingmagazine.

• Newsletters:at206%of2015revenue

• Webtraffic:124%increaseinsessions;170%

increaseinusers;35%increaseinpageviews

• Membership:Almost10%increasein

membership

PatrickFarreyExecutiveDirectorInstituteofPackagingProfessionals

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Let’supoursalesgame!