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Making money from digital . Patrick Fuller, Group Director, Haymarket Consumer Media. Association of Indian Magazines Congress. February 2014. Agenda. Introduction to Haymarket How our business is changing Case study one: What Car? Case study two: PistonHeads Lessons learned.

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slide1

Making money from digital

  • Patrick Fuller, Group Director, Haymarket Consumer Media

Association of Indian Magazines Congress

February 2014

slide2

Agenda

  • Introduction to Haymarket
  • How our business is changing
  • Case study one: What Car?
  • Case study two: PistonHeads
  • Lessons learned
slide3

Who are Haymarket

  • One of the largest privately owned media companies in UK
  • Employ 2000 people in seven countries
  • Across 9 divisions
  • We have 75 brands delivered across 10 platforms
  • Delivering 320 product lines
  • Turnover circa £200 million
haymarket in india
Haymarket in India

Launched 2000 in a joint venture with Hormazd Sorabjee

Based in Mumbai and Delhi

200 staff

Seven brands

slide7

Autocar, our market leader

  • Print
  • Web
  • Mobile
  • Awards
  • Events
slide9

Volume                Value

2007 1,254,252,231 £1,920,459,496

2012 810,863,058 £1,413,590,937

Change -35% -26%

The challenge in the UK

Association of Indian Magazines Congress

February 2014

slide11

2007

Print accounted for 78% of total revenues

Digital accounted for 9%

2013

Digital is now 35% of total revenues

We are forecasting 18% growth in 2014

56% of ad revenue is online

We now have six times as many consumers as in our print heyday

Our revenue splits in consumer

Association of Indian Magazines Congress

February 2014

slide12

Print is not dead, but we must focus on areas of growth

We must build digital products that deliver for audiences and clients

This demands deep understanding of their needs

Fact based planning and decision making

Execution to the standards that our values demand

Transition from print to digital

Association of Indian Magazines Congress

February 2014

slide13

Core values transferred

  • We aim to be as expert, creative and dynamic in digital as we are in print.
    • ‘Digital first’ – websites and mobile
    • We are investing in Live – in a world of social and digital media, consumers and business people value ‘experiences ‘
    • We see Data opportunities: paid leads, insight, retargeting

Association of Indian Magazines Congress

February 2014

slide14

Markets and territories

  • We prioritisedour markets
  • We focused our investment where digital, live and data product development could meet the needs of our audiences and clients internationally
  • We then focused on the territories that offer most growth potential
  • Asia and India, where we are well placed, are at the heart of global growth

Association of Indian Magazines Congress

February 2014

slide15

But how can businesses like ours compete?

Stick to our core strengths

Be confident that digital is our friend

Do not sell at a discount

Focus on educating staff… and clients

Association of Indian Magazines Congress

February 2014

slide16

Research will help us to win the argument

Question: which content do you trust?

Source: AOP and Comscore ‘Value of Trust’ report 2012

slide17

How that affects behaviour

Association of Indian Magazines Congress

February 2014

slide18

How that affects behaviour

  • Source: comScore Marketing Solutions

Association of Indian Magazines Congress

February 2014

slide19

How this affects behaviour

  • Source: comScore Marketing Solutions

Association of Indian Magazines Congress

February 2014

slide20

Progress so far

In Haymarket Consumer Media, we now have five online brands that generate more than 1000 lakh rupees of ad revenue a year.

But remember, 86% of our population is online compared with only 18% in India

Association of Indian Magazines Congress

February 2014

slide22

The UK’s biggest new car research brand

  • Magazine
  • Website
  • Apps
  • Mobile
  • Haymarket’s most successful product
the power of quality content
The power of quality content

On average What Car? reviews are read 39 times a minute. In 2013 our nine-point road tests and reader reviews were read 25 million times

We’ve worked hard to get here…

vertical search be like google
‘Vertical’ search: be like Google

Five years ago we introduced enterprise search on to whatcar.com, which changed the way users experienced the website

We had three specific goals:

To publish a unique review of more than 5000 new cars

Make it easier for our users to find important content

Create additional high value advertising opportunities

learning every day
Learning every day

Five years on, we are still at the early stages of unlocking digital

We have new specialist skills

We experiment

We have invested in ad operations

We demonstrate ROI at all times

We have even visited a car factory to learn about manufacturing

the challenge is still there
The challenge is still there

In the 1990s, one print customer earned us the equivalent of

500 rupees

Online, that figure is less than

50 rupees

At the same time, our audience has gone up by more than

x10

new revenue streams
New revenue streams

We now turn over more than 6000 lakh rupees, more than print and at higher margin

We have diversified into many new revenue streams – 20 and counting

They include:

Display advertising, specials and sponsorship

Lead gen

Finance, insurance, services

Classified

Video

Programmatic trading

Our yields are up to six times that of the competition

the challenges for haymarket
The challenges for Haymarket

Integrate without upsetting both ecosystems

Monetise, but discreetly and appropriately

Live in and with the community

But, above all

Learn how to be truly digital

slide35

How to monetise a community

  • Offline
  • Annual dinner “Black Tie and Pie”
  • Sunday Services events
  • Trackday programme
  • Driving Holidays
  • Online
  • Used cars for sale
  • Car buyer services: insurance, finance, history check
  • Skimlinks: revenue from post
  • Network and Google inventory
  • PistonHeads merchandise
  • Private Cars for sale
secret of pistonheads success
Secret of PistonHeads’ success

Simplicity of consumer and client offering

Everything has a user benefit

Diverse revenue streams that feed off size of audience

Scaleable market to support growth

slide38

Like you, we have done the hard bit

  • In the week of Auto Expo, Autocar India online:
  • Generated 7.5 million page views
  • Hit an average of seven pages and over six minutes per user
  • Saw more than 200,000 users accessing via smartphone
  • Achieved 1.7 million minutes of video content
slide39

The rest will follow

Most Indian car companies are currently spending less than 10% of their marketing budget in digital

This will double over the next 18 months

They and other clients will want quality online products to carry their marketing activity

...and that’s where magazine brands are strong

finally some suggestions
Finally, some suggestions

Define your strengths and focus relentlessly on them

See through the noise – keep it simple

Restructure and see how flexible your staff can be

Employ specialists in analytics and SEO

Maintain high yields

Remain committed to quality

Buy a start-up... and use a smartphone