According to the newly launched Business Information Center on ABMâs Web site (www.americanbusinessmedia.com), the council opted for the name change because it believed the term âbusiness informationâ is better recognized in the larger business intelligence marketplace than ârich data,â which is viewed by some as an ABM term.
The name change also reflects the councilâs decision to take a practical and tactical approach rather than a strategic one, and this shift was evident in the theme of the conferenceâdriving revenue with proprietary business intelligenceâand sessions focused on successful paid-subscription information businesses.
One speaker, Chuck Richard, VP-lead analyst at Outsell Inc., said, âForget the idea that people wonât pay for information on the web. They do, and itâs a high-growth industry.â
Richard, who moderated a panel titled The Hidden Parallel Trade Universe, explained that he chose speakers from companies that are not ABM membersâand would not necessarily be considered media companiesâbecause âthey have solid, growing businesses in markets that are also served by b-to-b media.â One of the companies, Input, sells business information in the government IT space served by such b-to-b titles as Federal Computer Week and Government Computer News, both 1105 Media properties. The other, Windhover Information, provides analysis and commentary on health-care business strategies, deals, trends and start-ups.
Luncheon keynote speaker Russell Perkins, managing director and founder of InfoCommerce, said, âVirtually everyone in this room has an extremely valuable and often under-appreciated assetâCMP [central market position].â In his presentation, Perkins outlined âjust a few of the ways you can harness your CMP. And if you donât, rest assured that someone else will.â
Perkins went on to list half a dozen opportunities in business information that are open to b-to-b media companies: marketing sales leads, scrubbing and screening customer data, developing industry benchmarks, building a central industry catalog, providing credit data for a specific industry and organizing oneâs market with a value-added classification system.
A highlight of the conference was a series of five back-to-back case studies on paid subscription information sites within the b-to-b media world, including ALM, Commonwealth Business Media and North American Publishing Co.. âItâs helpful to put meat on the bones with these case studies,â said Business Information Council chairman Bill Pollak, president-CEO of ALM.