abm year of the editor northwestern university medill school of journalism sept 17 2003 l.
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ABM “Year of the Editor” Northwestern University Medill School of Journalism Sept. 17, 2003. Panel Session: Brand Extensions: Creating New Revenue Streams --panelist Brian Ward . Why Extend The Brand?. You need the money. New competition keeps fragmenting your clients’ budgets

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abm year of the editor northwestern university medill school of journalism sept 17 2003

ABM“Year of the Editor”Northwestern UniversityMedill School of JournalismSept. 17, 2003

Panel Session:

Brand Extensions: Creating New Revenue Streams

--panelist Brian Ward

why extend the brand
Why Extend The Brand?
  • You need the money.
    • New competition keeps fragmenting your clients’ budgets
    • Extension can give you greater account penetration and even attract new categories of customers.
  • You’re not in the magazine business and never were. You’re in the info business. Competition is anyone who moves information to your audience in any way.
  • You’ve worked hard to build credibility, brand equity, etc. Why NOT leverage value you’ve already built?
prerequisites to strong brand extension
Prerequisites To Strong Brand Extension
  • Know what a brand is
  • Have one
  • Extend in a way that complements your brand
  • Know where the money’s coming from
  • Plan for the resources needed
  • Do the math
fer brand development
FER Brand Development
  • October 1996
    • FER launches, based on content, circulation, financial backing and personal brand equities. Advertisers take a chance they wouldn’t take with complete strangers.
  • January 2000
    • Launch Web site
  • September 2002
    • Launch high-end, two-day seminar for readers
brand extension the fer web site
Brand Extension: The FER Web Site
  • Not Just An Electronic Home For The Print Product
    • Serves a related but independent research function
      • Worldwide Buyers Guide
      • North American Services Guide
      • Archives for product comparison features only
      • Links, links, links—quick connex for spec comparison, etc.
  • Profitable Since Second Year
    • Ad revenue now. What next?
brand extension the mufes symposium
Brand Extension: The MUFES Symposium
  • We attract readers because:
    • Builds on magazine’s specialized credibility/brand
    • Nuts-and-boltsy, most tech-intensive spec/purchase symposium in our field
    • Stringently educational agenda—no product suppliers among presenters unless balanced in a panel
    • Great networking opp for rivals/peers in spec, purchasing & design functions
brand extension the mufes symposium7
Brand Extension: The MUFES Symposium
  • We attract advertiser/sponsors because:
    • Attendance is invitation-only, all big-volume “key account” customers and prospects
    • Meeting size is held down to promote comfortable interaction without “stadium effect” anonymity
    • Advertiser/sponsors thus get to connect with hard-to-reach “big fish” prospects
    • Ratio of suppliers to reader/customers is held to 1:1
brand extension the mufes symposium8
Brand Extension: The MUFES Symposium
  • MUFES works for us because:
    • Content reinforces/complements magazine brand, and vice versa
    • Invitation-only creates a prestige effect to attendance
    • Invitees pay an affordable registration fee; suppliers pay a higher one
    • Sponsorships are popular and generate big revenue
    • Supplier attendees, including sponsors, must meet advertising requirements to drive magazine business and avoid cannibalization
    • Profitability per labor hour is significant