Company: Dow Jones & Co.
Location: New York
Title: President-corporate markets group
Big move: Veteran Dow Jones executive puts his experience to work for Factiva.
Core responsibilities: Drive growth of a corporate portfolio designed to soothe information overload and facilitate growth in a global economy.
Last January, the incoming president of Dow Jones & Co. tapped Scott D. Schulman to head the company's corporate markets group. The move was part of a larger Dow Jones restructuring that placed Schulman at the helm of the Factiva brand with a mandate for growth.
“I came into this role knowing that Factiva was the clear leader in its market and that there were a lot of opportunities to build on that position,” said Schulman, a veteran Dow Jones executive who previously served as president of the company's financial information group. “There's an opportunity to expand the franchise and go into new directions, new geographies, new growth areas.”
He's had a busy year. Under his leadership the company has invested in Factiva, developing new search capabilities, expanding coverage and evolving the product's mobile interface. Schulman has also overseen the development of targeted Factiva offerings, including a product for consultants and a dashboard that helps procurement managers track global news affecting their supply chains.
New vertical offerings have delivered growth as well, he said. The company has introduced products in the energy, public relations, and risk and compliance spaces. “We have put a stronger focus on those because we see them with a lot of growth potential, and we continue to launch new offerings,” he said.
Factiva has benefited from expanded global content as well, strengthening coverage in strategic markets. “We are seeing growth in subscribers in [regional] markets,” Schulman said, “but it's also helping us expand with big global companies that are seeing their own growth coming from Asia and other developing markets.”
His goal is not only to attract new customers but also to expand the use of Dow Jones corporate products within the workforces of existing customers. It's a strategy that has paid off, he said.
“Clearly, late 2008 and 2009 were tough years for the economy and the financial markets, which is a key customer group of ours,” Schulman said, “but we're back on a growth track, and we've seen very good progress since the middle of 2010 and very strong growth in some of the vertical markets. And we're back on a nice growth path overall for the corporate information business.”
Schulman plans to keep up the momentum next year, though his focus will be developing existing offerings rather than new launches.
“We are focused on taking our recent strategies, like building these vertical businesses and expanding content and the global reach of Factiva, and pushing those further,” Schulman said. “This [next] year will be about building on things we've been doing recently and making an investment in the underlying capabilities and technologies that drive the overall platform.”
Schulman also has a hand in other growth areas. The company has customized a version of The Wall Street Journal Professional Edition for chief financial officers. He is reaching out to b-to-b publishers that could work with Factiva to expand their reach.
“We've got a great position,” he said. “We want to keep raising the bar.”