1 Jordan Avery Christina Miller Bianca Palacio Connor Zendt Outline Introduction to The Economist Opportunities Ahead Strategy Recommendations Conclusion Questions 2 Outline - Introduction Opportunities Recomendations Conclusion Q&A 1 Introduction 3 Outline - Introduction Opportunities Recomendations Conclusion Q&A The Economist has grown to cover over 200 countries and cover news from all over the world in the 171 years it has been around. Throughout the years, The Economist has survived many cultural and economic changes. The current cultural shift is an age of Mass Intelligence. What is Mass Intelligence? More consumers are developing an appetite for sophisticated and challenging information. Why is Mass Intelligence important? The number of potential readers is growing.
4 Outline - Introduction Opportunities Recomendations Conclusion Q&A 2 Opportunities Was the emergence of Mass Intelligence the opportunity The Economist could not afford to miss? Was The Economist ready to make a critical jump? 5 Outline - Introduction Opportunities Recomendations Conclusion Q&A Opportunities The Economist must make the critical jump. Expand and improve digital strategy. Offer on- brand digital content. Offer mobile- friendly content. Create a cross- platform experience. Win Mass Intelligence consumers. Modernize the brand without diluting it. Use traditional marketing in new markets. Meet M.I. consumers on their territory. 6 Outline - Introduction Opportunities Recomendations Conclusion Q&A Recommendations Expand and improve digital strategy. Win Mass Intelligence consumers. 7 Outline - Introduction Opportunities Recomendations Conclusion Q&A 1 Expand and Improve Digital Strategy
8 Outline - Introduction Opportunities Recomendations Conclusion Q&A Online is different from print. In print we are in lecture mode, but our challenge is different online Andrew Rashbass Chief Executive, The Economist Group
2 Expand and Improve Digital Strategy What we are doing is moving from lecture to conversation, to try and be the best place for intelligent debate on the Web. - Andrew Rashbass
9 Outline - Introduction Opportunities Recomendations Conclusion Q&A Offer on-brand digital content. Digital mediums offer unique ways to provide content to consumers. The Economist should use this opportuntiy to provide exclusive digital content. 78% of online adults watch or download videos. 3 2 Expand and Improve Digital Strategy 10 Outline - Introduction Opportunities Recomendations Conclusion Q&A Offer mobile-friendly content.
Engage readers while away from their computers. 64% of tablet and 62% of smart phone users get news on their device. There is an ever-growing market that demands mobile news content. 4 Expand and Improve Digital Strategy 11 Outline - Introduction Opportunities Recomendations Conclusion Q&A Create a cross-platform experience. The Economist has a need for integrated online and print content. They can leverage strong print performance into improved online readership. 5 Win Mass Intelligence Consumers Every single indicator we see is that the top-end of the market continues to grow bigger every day. John Micklethwait Editor-in-Chief
12 Outline - Introduction Opportunities Recomendations Conclusion Q&A 2 Win Mass Intelligence Consumers 13 Outline - Introduction Opportunities Recomendations Conclusion Q&A Modernize the brand without diluting it. The Economist should take advantage of digital media to modernize their brand. They must take care to maintain their brand while expanding to new markets. 5 Win Mass Intelligence Consumers 14 Outline - Introduction Opportunities Recomendations Conclusion Q&A Use traditional marketing in new markets. During the red poster campaign from 1988 to 2001, The Economist increased circulation by 64%. 1 Win Mass Intelligence Consumers 15 Outline - Introduction Opportunities Recomendations Conclusion Q&A Meet Mass Intelligence consumers on their territory. Allow readers to engage with The Economist on their own terms. The Internet is the primary resource for readers in The Economists target audience. 5 Recomendations Assumptions: The Economist has the infrastructure in place to expand its digital presence. Advertising and subscription revenue will carry over to digital content. Challenges and Risks: Increased emphasis on digital content may alienate older consumers. Gearing business towards new markets will increase marketing and development costs. 16 Outline - Introduction Opportunities Recomendations Conclusion Q&A Conclusion Since 2010, the print circulation has stagnated and fallen. This means there is an ever increasing need to find new consumers and approach them in new ways.
17 Outline - Introduction Opportunities Recomendations Conclusion Q&A 2,5 Conclusion To make the critical jump, The Economist must: Expand and improve digital strategy. Win Mass Intelligence consumers. By expanding into a new market, The Economist presents itself with an opportunity to win the age of Mass Intelligence. 18 Outline - Introduction Opportunities Recomendations Conclusion Q&A Questions & Answers 19 Outline - Introduction Opportunities Recomendations Conclusion Q&A Thank you for your time. 1 Citations 1. http://www.slideshare.net/advertime/the-economist-creative- advertising-presentation 2. From provided case 3. https://www.youtube.com/watch?v=5fNb_b1U9sk&list=PL3 FE487AB97FC05E6 4. http://www.journalism.org/2012/10/01/future-mobile-news/ 5. http://stateofthemedia.org/2013/news-magazines-embracing- their-digital-future/news-magazines-by-the-numbers/ 6. http://www.pewresearch.org/fact-tank/2013/10/16/12-trends- shaping-digital-news/