An aspect of my role at Borrell that I enjoy the most is the daily discussions with folks from across media and the advertising industry in general- It’s a great opportunity to both learn and to help. Perhaps the most common theme in these conversations, from C-level Exec to front line Salesperson, is the desire to understand who is succeeding and what they are doing right. That’s why I’m excited to attend Deseret Digital Media’s Boot Camp next month on February 10 and 11 in Salt Lake City.
In fact we often point to Deseret as an example of a best practice media company who’s market driven approach clearly results in a sustainable market position consisting of both revenue growth and increased relevance to the communities they serve. The challenge, though, is to clearly identify and communicate Deseret’s recipe for success.
Fortunately in a recent blog, Clark Gilbert offered clarity by providing the following as a “picture of transformation and a profile of sustainable growth”
1. Digital revenue should be approximately one-third of total revenue. Approximately half of those revenues should come from display, the remaining half should come from non-display e-commerce marketplace businesses.
2. Revenues from traditional media (newspaper) should consist of approximately half from newspaper with the other half coming from non-newspaper revenue streams. In Deseret’s case these include coupons, events, niche magazines, custom publishing, and direct mail.
Clark goes on to provide further growth objectives for each business/business segment to offset print declines with digital becoming the growth business behind a stabilized local core business. The best part? Deseret has accomplished this transformation, digital has become the growth business behind the stabilized local core business, the business is growing and Deseret is willing to provide peers an understanding of the structure, business models, resources and philosophies necessary to transform as well.
I’m looking forward to attending and meeting with those in the local media space at this event. For those that make the trip The Boot Camp presents an opportunity to look beneath the hood of this successful, forward thinking business and how that can be applied to their own businesses.
Current BootCamp Schedule:
Tue., Feb. 10 & Wed., Feb. 11 at DDM’s offices in Salt Lake City Registration open: https://www.localmedia.org/training/deseret-digital-media-boot-camp/