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Media Turn To CRM to Cut Losses

  • DMNews, Wednesday, March 18, 2009 9:33 AM

Media companies have begun furiously experimenting with new strategies they hope will help them retain their relevance, including personalized newspapers and a re-energized interest in robust CRM programs. More media outlets are reviewing all of the content that they own and trying to figure out how to package it in a way that will provide the most value to loyal customers.

"Newspapers, magazines and other companies have to think about what content they reserve and what they don't," says David Rosen, senior vp at Loyalty Lab. Asking people to sign up for digital content, for example, creates a deeper sense of engagement. That then becomes a marketing platform as opposed to an advertising platform, he says. As a marketing platform, media companies can help put advertisers in contact with their target consumers, something for which many advertisers are willing to pay.
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In one example, Time Inc. will begin testing various models of loyalty marketing by the end of the year. In order to have products that people are willing to pay for, Time Inc. wants to determine what new assets it can offer that will be of value to subscribers. New products could include a special walled-off area on a Web site, special newsletters or extra content that only subscribers would get.

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