Folio Show Coverage CMO Keynote Panel Discusses Strategies in a Changing World

first_imgNEW YORK—The final day of the Folio: Show here at the Marriott Marquis began with a breakfast keynote panel discussion featuring four magazine publishing CMOs. The ever-present changes in the ways readers access and perceive magazines—and in the readers themselves—continually necessitates creativity and flexibility among marketers, publishers and editors alike. One thing that is clear, though, is that a magazine’s most powerful leveraging tool is the intimate knowledge of and constant reach to an engaged audience whose trust has not only been earned, but carefully maintained. “Clients look to us to create branded content because we know our audience, we have a trusted voice and we’ve been speaking to that audience for years,” said Murphy. The discussion then turned from ways of generating audience and data analysis to ways of using it to position brands as powerful connections between advertisers and readers. “Many clients came looking for specific brands to advertise with,” Rhee continued. “The solution we found as we went deeper into those conversations was that we can actually sell across a number of brands.” While attendees numbering in the hundreds finished breakfast in the Westside Ballroom, Hunt described the way Vox analyzes and organizes audience data. “Highlighting audiences has become critical, shining a light on our reader base and allowing us to segment our brands into like-minded groups,” added Murphy. “A big area taking off in client services is customer research,” said Rhee. “We have the audience. We have an understanding of how to speak to them. That conversation feeds on itself and really builds a powerful relationship with clients.” “For a long time, brands were told, ‘Think like a media company,’” Hunt added, “We can be that solution.”center_img “Services can go anywhere from social media, to events, to media planning,” said Murphy, adding, “Recently, we’ve seen tremendous growth in brand licensing, such as our Outdoor Life clothing line.” “We over-index for purchase power and factors like readers with higher education,” Hunt said. “Data ops allows us to find specific audiences, wherever they live in our portfolio of brands.” Diversity in services, too, is rapidly becoming a major component of marketing and building a client-publisher connection. “We have increasingly been asked to take over content from a nuts and bolts standpoint,” said Monroe. “What we did was bring formerly separate teams together and created a formal internal studio—a full service offering. This started new conversations with clients about our capabilities.” As marketing managers in a rapidly changing industry, Jonathan Hunt, global marketing VP at Vox Media, Elizabeth Burnham Murphy, CMO of Bonnier Corp., Minna Rhee, CMO at SourceMedia and Michael Monroe, VP of advertising at Forbes collectively shed light on what’s worked for them when attempting to reach new audiences on multiple platforms, and by extension sell those audiences to advertisers. Another service magazine publishers can offer is live events, said Hunt. Monroe agreed, stating that it was one of the areas in which Forbes has seen considerable growth, along with an increasing international presence which, in turn, has opened even more event possibilities. Rhee echoed those sentiments, explaining how standardizing experiences across SourceMedia’s various B2B brands and targeting audiences across different sites opened up a number of new sales opportunities.last_img read more

Binny Bansal sells Flipkart stake worth Rs 531 crore to Walmart

first_imgReutersBinny Bansal has sold 5,39,912 equity shares amounting to Rs 531 crore to FIT Holdings SARL, a Luxembourg entity of Walmart. Bansal is monetising his shares to invest in start-ups. With the latest deal he is left with only 3.52 percent of Flipkart shares, down from 3.85 percent during the Walmart takeover. He had sold about 11,22,433 shares to Walmart for about $159 million in 2018. Walmart is the owns 77 percent in Flipkart.As per the Walmart contract, Bansal is slowly cutting his stake in Flipkart even as he turns into a prolific investor in the startup ecosystem. He invested in start-up Acko, an online insurance startup, by writing a cheque of $25 million. He also supported artificial ventures like Spotdraft, invested in health-tech company NIRAMAI and in learning platforms like Crio. NOAH SEELAM/AFP/Getty ImagesIn May 2018, Walmart had bought Flipkart for about $16 billion for an initial stake purchase of 77 percent. Binny Bansal stepped down from his chairman’s post after he was investigated on an allegation of personal misconduct. He holds a board seat in Flipkart and is a co-founder of xto10x Technologies.Sachin Bansal, the other co-founder of Flipkart, had sold all his shares to Walmart for $800 million to $1 billion.last_img read more