At last month's American Business Media Top Management Meeting in Chicago, we were presented with a very important study, “A Roadmap for Profitable Revenue Growth,” by Booz & Co., thanks to ABM.
The findings and suggestions of the report provide the kind of well-thought-out plan needed to help all of us continue to succeed in an increasingly changing and challenging media world.
Clearly, the ABM /Booz report shows a possible bright future but only for those companies that adapt to the new landscape and develop much deeper marketer solutions and revenue-generating end-user data products.
This means transforming our current brands and rethinking and retooling how we help marketers tap our audiences. It also means investing in technology and people who can bring these new marketer and reader/user enhancements to fruition.
At the same conference, John Suhler, general partner of Veronis Suhler Stevenson, pointed out how b-to-b media companies are still among the lucky ones in the media world, especially compared with newspapers, broadcast TV and radio. B-to-b media is not in the seriously impacted zone, he said, but rather in the zone of opportunity—but only those b-to-b media companies that are ready to serve their information-starved readers and lead-focused marketers across multiple channels.
There also were many voices at the ABM meeting discussing the need to cut costs. That's important as well, where they can be cut. But please don't make the mistake of not investing in the future to save dollars this year.
Bob Felsenthal can be reached at email@example.com.