Create content to satisfy customers

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Richard Kravitz was recently named VP-managing director of Summit Business Media's Reference Division, whose main products include the Tax Facts series used by insurance agents and financial advisers, and the Fire, Casualty and Surety bulletins. Prior to joining Summit, Kravitz was exec VP-business development for Wolters Kluwer's Law and Business Division. Media Business: What's your growth strategy for the reference unit? Kravitz: Our core competency is our analytic, expert-authored content that's written by both in-house and outside authors and provides guidance to insurance professionals. What we're doing is extending our reach into adjacent markets (financial planning, bank trust departments and international wealth advisories) and creating products that satisfy our customers' needs, in particular books that cover health care. MB: What are the cross-marketing opportunities between the reference division and the company's marketing channels online? Kravitz: We are institutionalizing, from the top, a closer working relationship with other divisions to better leverage their customer bases for new-product creation, integrating our marketing plans with their advertising programs and providing online content that can be repurposed for all channels. MB: Paid content revenue accounts for about 35% of the company's total revenue. Do you see that percentage increasing within the next year? Kravitz: Absolutely, as we create new products and deepen product offerings that we already have. Content is king, but content without technology is a poor ruler. Our commitment to our customers is to keep the information and analysis relevant and current. —M.S. RICHARD KRAVITZ VP-managing director, Reference Division, Summit Business Media
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