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N2 for NEPA 2 08 07

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Published on January 21, 2008

Author: Paola

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Newspaper Next: Blueprint for Transformation:  Newspaper Next: Blueprint for Transformation New England Press Association Management of the Weekly Newspaper Workshop Feb. 8, 2007 | Boston © 2006 The American Press Institute and Innosight LLC. All rights reserved About ‘Newspaper Next’:  About ‘Newspaper Next’ American Press Institute’s one-year, $2.5 million project Joint effort with HBS Professor Clayton Christensen and Innosight Final report and recommendations delivered Sept. 27 Now: Introducing the N2 concepts, tools and processes to the industry About ‘Newspaper Next’:  Project Goals Provide a practical solution set to help newspaper companies make the transition from a monolithic business model to a portfolio model: Develop a shared understanding of what’s disrupting newspapers – the patterns and their implications Develop a step-by-step process (“N2 Innovation Method”) that newspaper organizations can use to see and seize growth opportunities in their markets Develop a strategic framework (“N2 Game Plan”) to guide the diversification process and point out some of the best places to start Road-test the N2 Method with selected volunteer newspaper organizations About ‘Newspaper Next’ Disruption in the newspaper industry:  Disruption in the newspaper industry Disruptive Innovation:  Disruptive Innovation Performance Time Sustaining innovations Entrants nearly always win Incumbents nearly always win A driver of leadership failure and the source of new growth Disruption in telecommunications:  “The ‘telephone’ has too many short-comings to be seriously considered as a means of communication. The device is inherently of no value to us.” — Western Union internal memo, 1876 Disruption in telecommunications “In the early 1980s AT&T asked McKinsey to estimate how many cellular phones would be in use in the world at the turn of the century. The consultancy … concluded that the total market would be about 900,000. At the time this persuaded AT&T to pull out of the market.” — The Economist, 1999 The portable music revolution:  The portable music revolution Source: RIAA Web Site; Innosight Analysis Where’s Sony?:  Where’s Sony? Share of MP3 player market % 2004 “I don’t really like hard disks – they’re not Sony technology. As an engineer, they’re not interesting.” — Sony Engineer, WSJ, 2004 “I think we fell asleep for a while … Maybe part of [the problem] was being affiliated with a music company.” — Sony Executive CNN/Money, 2004 Source: Literature Search; Analyst Reports; Innosight analysis Where are the winners?:  Where are the winners? Apple FY* iPod Sales (US$ Billions) iPod Devices iTunes & other accessories * Fiscal year ending in September Source: Analyst reports; Literature search; Apple SEC filings; Innosight Analysis 3 6 19 39 % of Apple’s total revenue Decades of disruption:  Decades of disruption What connects these innovations? … start with “good enough” performance along traditional dimensions … new benefits such as simplicity, convenience or low prices … appeal to “overshot” customers or “nonconsumers” … often utilize “low cost” or “start small” business models … take advantage of competitive weaknesses and blind spots Investment in traditional vs. new dimensions:  Investment in traditional vs. new dimensions Call quality Pin drop Can you hear me now? Power Doesn’t need electricity Battery runs down Convenience The home Anywhere 99.999% 80% Reliability What would you pay for improvements along these dimensions? Lessons from the disruptive innovation battlefield:  Lessons from the disruptive innovation battlefield The companies that you think are going to get transformation right … often don’t There are always opportunities in any transformation, but spotting them requires looking at markets in different ways Focusing solely on data can often mislead you, since disruption is difficult to spot when it first begins, and small opportunities can grow Sustainable growth is hard Disruption in the newspaper industry:  Disruption in the newspaper industry Sustaining Disruptive Online video Free classifieds Sectionalization Coupon books distributed via mail or boxes Free dailies Color on every page Why seemingly capable organizations struggle with disruption:  Why seemingly capable organizations struggle with disruption “R” “P” “V” What a company is good at determines what it is bad at Resources, Processes, and Values need to change to pursue new businesses ‘All the news that’s fit to pixel’:  ‘All the news that’s fit to pixel’ Revenue model: Circulation Display Ads Classifieds Revenue model: Display Ads Classifieds Content: 1,000-word articles Content: 800-word articles Focus on the threat, miss the opportunity:  Focus on the threat, miss the opportunity Established business Disruptive business Introduction to the N2 Innovation Method:  Introduction to the N2 Innovation Method Principles for spotting, shaping and enabling disruptive opportunities:  Principles for spotting, shaping and enabling disruptive opportunities Pay particular attention to “nonconsumers” who face a constraint on consumption Focus on important “jobs” that consumers can’t get done today Get the “gives” and “gets” right; be adequate where you can be and better where you need to be Think expansively about the business model Invest a little, earn a little, learn a lot Pursue areas competitors are motivated to flee or ignore Organize appropriately The N2 Method:  The N2 Method “Non-consumers” “Jobs to be done” “Invest a little, learn a lot” “Fail fast, fail cheap” “Good enough” “Business model innovation” “Do what others won’t” DEVELOP potential solutions SPOT opportunities LAUNCH ASSESS approach TEST, learn and adjust Key concept #1: ‘Jobs To Be Done’:  Key concept #1: ‘Jobs To Be Done’ Look for jobs-based opportunities:  Look for jobs-based opportunities Prepare me for my work day as a senior executive Entertain me when I have a 30-minute train trip Key concept #2: Nonconsumers…:  Key concept #2: Nonconsumers… Population 806,000 Total potential customer base for news and information Nonconsumers c. 436,000 Source: Example given by Reid Ashe, Media General Unreached potential users Why don’t they read the newspaper? Don’t have time Get enough news from faster, simpler, cheaper sources (TV, radio, online) Not very interested in traditional news 185,000 current daily print circulation x 2 Readership 370,000 … and nonconsuming businesses:  … and nonconsuming businesses 16,000 Total number of public-facing businesses Active Times-Dispatch advertisers Untapped potential customers Source: Example given by Reid Ashe, Media General Why don’t these companies advertise? Too expensive (relative to the expected return) Too much waste, e.g., paying for non-target audiences Don’t know how to do effective advertising Spot market opportunities:  Spot market opportunities Tool Interview/observation guide Objective: Pinpoint important, unsatisfied innovation jobs to be done Action Steps: Internal brainstorming sessions Observation/intercepts at places where nonconsumers congregate, e.g., malls, colleges, homes In-depth interviews with consumers and businesses Interviews with market-facing employees Key Questions Where are there nonconsumers (consumers and businesses) or nonconsuming occasions in our markets? What are the jobs that people are trying to get done but cannot do successfully today? SPOT ASSESS TEST LAUNCH DE- VELOP Output Identified high-potential opportunity spaces “Non-consumers” “Jobs to be done” 1. Spot opportunities using “Jobs to be done” SPOT Potential opportunities to investigate:  Potential opportunities to investigate Nonconsuming Audiences Time-starved working mothers Occasions Advertisers Recent immigrants Commutes Young adults Busy professionals Waiting times On the road Service businesses Ultra-local businesses National advertisers Individuals ‘Jobs’ interview guide:  ‘Jobs’ interview guide Advertisers/Businesses How do you make money? What are the things that keep you up at night? What are some things (“jobs”) that you are having problems getting done? Under what circumstances do you usually try to do these things? What do you currently use to help you? What other options have you considered? Why did you use or reject these? How would you describe the “perfect solution”? What are the most important characteristics of this solution? Employees What are some things that customers have asked us to do in the past that we could not do? Why couldn’t we deliver what they wanted? What alternatives did they use instead? How well did these alternatives meet their needs? What would the “perfect solution” for them look like? What would be the most important characteristics (“hiring criteria”) of this solution? What are common characteristics do these consumers share? Consumers What are some things (for example, related to local information) that you have the most trouble trying to do at the moment? Why and when do you typically seek to do this? Where did you look for help? Describe the process you followed What frustrated you most? Describe a perfect solution for me. What will it do? What are the emotions that the perfect solution would make you feel (“emotional hiring criteria”)? N2 Report, Page 31 Identifying and prioritizing jobs:  Identifying and prioritizing jobs Important Job Frequent Job Frustrated consumer Jobs-based opportunity + + = Develop potential solutions that get the job done:  Develop potential solutions that get the job done Tool Newspaper Next Idea Resume Objective: Develop ideas for new solutions that get the innovation job done Action Steps: Team brainstorming Use the Newspaper Next Idea Resume to flesh out potential solutions Ensure solution adheres to key DI principle Key Questions What is a “good enough” solution that gets the job done better than what is available today? What is a business model that minimizes fixed costs and maximizes creative revenue streams? How will we beat competitors? SPOT ASSESS TEST “Good enough” “Business model innovation” “Do what others won’t” Output Idea Resume describing proposed solutions to address identified opportunities LAUNCH 2. Develop potential solutions that get the job done DEVELOP DE- VELOP Assemble the right elements to fit the ‘job’:  Assemble the right elements to fit the ‘job’ News in multiple depths Hyper-local news Local “user knowledge” User-generated content Utility databases ??? Free dailies Non-dailies Niche publications Topical websites Email Mobile phones ??? Reading Social networking Civic dialogue Knowledge exchange Instant response ??? 24/7 When I want it When it breaks Daily Weekly Monthly ??? Content Experiences Channels Frequencies Develop potential solutions: the ‘Idea Resume’:  Develop potential solutions: the ‘Idea Resume’ Designed to be filled out in 30 minutes or less Does not require complex financial models or detailed market sizing “Hardwires” key disruptive principles “Good enough” first-generation solutions Developing flexible, creative business models Doing what competitors won’t Assess ideas to identify key risks and assumptions:  Output Prioritized list of assumptions and risks DE- VELOP Assess ideas to identify key risks and assumptions Tool N2-OASYS Objective: Assess the approach to identify critical assumptions and risks Action Steps: Use the N2-OASYS tool to identify critical assumptions (“potential deal killers”) that have high degrees of uncertainty Reverse-engineer the financial figures to identify critical financial assumptions Key Questions How well does our approach fit a defined pattern of success? What are the strategic and financial assumptions and risks? Which assumptions and risks need to be addressed first? SPOT ASSESS TEST LAUNCH “Invest a little, learn a lot” “Fail fast and fail cheap” 3. Assess approach for risks, assumptions ASSESS TEST Assess the approach: A better way:  Assess the approach: A better way Assume Typical Process “Plan to Learn” Process Project Project Assume Act Test Reverse-engineer the financials:  Reverse-engineer the financials Financially Is there a believable story for why this strategy is financially attractive? What financial assumptions need to come true to meet your success criteria? Which of the financial assumptions is most important and should be tested first? Test, learn and adjust:  Output Decision about next steps Test, learn and adjust Tool Array of methods to test critical assumptions Objective: Get early feedback on most critical assumptions so that you can adjust the strategy Action Steps: Determine “good enough” ways to learn more about critical assumptions and risks Execute knowledge-building activities Adjust based on learning Key Questions What activities will allow us to learn more about our most important assumptions and risks? How does what we learn affect how we need to adjust our strategy? DE- VELOP SPOT ASSESS TEST LAUNCH “Invest a little, learn a lot” “Fail fast and fail cheap” 4. Test, learn and adjust ASSESS TEST Test critical assumptions: Invest a little, earn a little, learn a lot:  Test critical assumptions: Invest a little, earn a little, learn a lot The ones that succeed have enough money left over to follow new approaches On average, successful new ventures change business models four times before finding success Flawed Strategy Successful Strategy More than 90% of successful new ventures start off following the wrong strategy Points of learning and adjustment Implications Start simple Limit fixed cost investment Patient for growth, impatient for profits Some ways to test critical assumptions:  Some ways to test critical assumptions Secondary research External benchmarking Thought leader round table Internal best practice assessment Role playing (customers, competitors) Focus groups Technology benchmarking Business modeling/simulation Concept/prototype tests Quantitative market research Test markets Thoughts to live by:  Thoughts to live by “Customers don’t buy products, they hire solutions to help get important jobs done” Look at the world through the customer’s eyes, seek external input at every stage “Markets that don’t exist can’t be measured” Don’t kill projects simply because they are not backed by detailed analyses and big numbers “Perfection is the enemy of ‘good enough’” Aim to launch quickly with “good enough” products so you can learn and re-vector as necessary “Invest a little, learn a lot” Look for cheap and simple experiments that will allow you to learn what you don’t yet know “For every failure, we have a spreadsheet that looks great’” Focus attention on things that will make a difference to success The Newspaper Next Game Plan:  The Newspaper Next Game Plan Newspaper Next ‘Game Plan’:  Newspaper Next ‘Game Plan’ Create innovation structures & enablers Use new models to fulfill “jobs” of current / new advertisers Build audiences by fulfilling “jobs” beyond news What it is not: Comprehensive list of the good growth opportunities Detailed how-to guide Why a “Game Plan”? To provide a visual framework for becoming a portfolio company To identify the four areas of the business that will have the greatest influence on success To identify some high-potential growth opportunities: “good places to start” Maximize the core Our view of the most promising areas:  Our view of the most promising areas 4. Create innovation structures & enablers A. Build a “common language” B. Dedicate resources to innovation C. Develop an innovation process D. Create “jobs to be done” feedback channels 3. Use new models to fulfill jobs of current/new advertisers A. Identify important, unsatisfied advertiser/business jobs B. Offer new models that get identified jobs done better than traditional solutions 2. Build audiences by fulfilling jobs beyond news A. Master key building blocks: Assembling relevant databases Unlocking local “collective wisdom” Providing platforms for communities to form B. Use building blocks to craft solutions targeting specific unmet jobs Area 1: Maximize the core:  Area 1: Maximize the core Area 1: Maximize the core :  Area 1: Maximize the core Objective Ensure a strong core business in order to remain healthy and fund initiatives for future growth Specific actions A. Strengthen the core using “jobs to be done” thinking B. Grow the core by creating niche jobs-based products suited to your market A. Strengthen the core using ‘jobs’ thinking:  A. Strengthen the core using ‘jobs’ thinking Use observational research and in-depth interviews to understand how users are using your products today What job did they hire the product to do? (“Help me…”) What hiring criteria did they apply in deciding to use it? What compensating behaviors do they use to make up for its deficiencies? What would an ideal solution look like? What other jobs are they trying to do that they can’t get done today? B. Grow the core by creating niche jobs-based products:  B. Grow the core by creating niche jobs-based products Some ideas for consideration “Lite” versions of daily papers for commuters (paid or free) Entertainment-focused publications distributed on racks and countertops Niche publications for tourists, young adults, parents, seniors, hobbies, etc. Publications for non-English speakers High-demo publications on fashion, homes, investing Paid or free non-dailies serving smaller communities or neighborhoods Niche advertiser publications, e.g., cars, homes, coupons What important jobs are nonconsumers trying to get done? What frustrates them most as they seek to fulfill their particular jobs? What would a “good enough” solution look like? Measuring progress:  Measuring progress Senior management dashboard Strengthening the core: Pointers and suggestions:  Teach the N2 concepts to your newsroom team and your ad sales team Scan your existing products from a user’s and non-user’s “jobs to be done” perspective Conduct “jobs to be done” interviews with: Current readers and non-readers Current and non-advertisers Brainstorm with your management team to identify some important audience segments and niche interests you are not reaching well Strengthening the core: Pointers and suggestions Area 2: Build audiences by fulfilling ‘jobs’ beyond news:  Area 2: Build audiences by fulfilling ‘jobs’ beyond news Area 2: Build audiences by fulfilling ‘jobs’ beyond news:  Area 2: Build audiences by fulfilling ‘jobs’ beyond news Specific actions A. Master key building blocks by: Assembling relevant databases Unlocking the “collective wisdom” Providing platforms for communities to form B. Use these building blocks to craft solutions targeting specific unmet jobs Objective Build audiences by looking beyond news to find and satisfy important, unmet jobs in people’s lives Create innovation structures & enablers Maximize the core Use new models to fulfill “jobs” of current / new advertisers Build audiences by fulfilling “jobs” beyond news A. Master key building blocks:  A. Master key building blocks Assembling relevant databases Why this is important Countless jobs in people’s lives require basic local information; national players will find it difficult to compete What this will require Different skills from newsgathering: creating, maintaining searchable repositories of many kinds of data Getting out of the “proprietary” mindset Assembling relevant databases:  Assembling relevant databases Some useful databases: Local entertainment (restaurants, events, attractions, etc.) Small businesses Shopping Home-related services (contractors, plumbers, lawn/pool, pest control, etc.) Kid-related services (childcare, schools, kid-friendly attractions, etc.) Local school/college sports Pet-related information Verify accuracy of information pulled from existing Axciom database Collect supplemental information that helps audiences get their job done Provide links to relevant tools Tip: Look for cheap and quick ways to get this done, e.g., hiring interns to make calls Examples of database for a dining website (Job: “Help me find good places to eat”): A. Master key building blocks:  A. Master key building blocks Assembling relevant databases Unlocking the “collective wisdom” Why this is important Countless jobs in people’s lives require basic local information; national players will find it difficult to compete What other people know is often the most essential element to solve many frustrating jobs in people’s lives What this will require Different skills from newsgathering: creating, maintaining searchable repositories of many kinds of data Getting out of the “proprietary” mindset Good knowledge of consumer lives and perspectives among a wide range of audiences Getting comfortable with “losing control” over published content Unlocking the ‘collective wisdom’:  Unlocking the ‘collective wisdom’ Rotten Tomatoes Amazon craigslist Yahoo Groups Angie’s List Netflix iTunes Wikipedia LinkedIn TripAdvisor Examples of businesses who have been successful: A. Master key building blocks:  A. Master key building blocks Assembling relevant databases Unlocking the “collective wisdom” Providing platforms for communities to form Why this is important Countless jobs in people’s lives require basic local information; national players will find it difficult to compete What other people know is often the most essential element to solve many frustrating jobs in people’s lives Stay in the picture as more communities acquire the ability and tendency to self-form What this will require Different skills from newsgathering: creating, maintaining searchable repositories of many kinds of data Getting out of the “proprietary” mindset Good knowledge of consumer lives and perspectives among a wide range of audiences Getting comfortable with “losing control” over published content Staying up to date with new platform technologies Changing mindset from content creator to platform provider and facilitator Providing platforms:  Providing platforms Examples of platforms How many of these platforms are in your current arsenal? Bulletin boards Email-based groups Ratings and reviews Blogs Customizable home pages Knowledge repositories Content sharing directories Hosted personal sites Virtual roundtables Discussion forums Target nonconsumption:  Target nonconsumption Nonconsumers Busy mothers Teenagers Young professionals Non-English speakers Recent move-ins Out-of-towners, e.g., snowbirds, tourists Nonconsuming occasions During morning/evening commutes While waiting, e.g., at an airport, doctor’s office While out of town or on the move At the gym or playground B. Use the building blocks to craft solutions targeting specific unmet jobs:  B. Use the building blocks to craft solutions targeting specific unmet jobs Some unmet jobs in your market “Enlighten me” “Educate me” “Entertain me” “Enrich me” “Engage me” “Empower me” “Help me find a good home contractor, hairstylist, baby sitter, auto mechanics, dentist, or other local service provider” “Help me get inside information on employers, schools and colleges, healthcare, childcare and senior care facilities” “Help me get advice from people who have been through this before, such as other moms, small business owners, job-seekers” “Help me connect with others who are going through this right now, such as other moms, small business owners, job-seekers” “Help me find good employees who are available now” “Help me find entertainment options locally which are appropriate for my circumstances, e.g., singles, families, pets, teens” “Help me find aggregated information about local companies, local industry, local school sports, local housing market, and others” “Help me monetize my attic/garage” “Help me search inventory and compare prices among local retailers” “Help me find unique gifts from small local boutiques” “Help me save money on commonly purchased items, e.g., groceries” “Help me find opportunities to contribute my skills to the community” “Help me stay in touch with my community while I’m away” Measuring progress:  Measuring progress Senior management dashboard Building new audiences: Pointers and suggestions:  Building new audiences: Pointers and suggestions Use the N2 Innovation Method Send a team out to talk to their families and friends about frustrating jobs Brainstorm about “good enough” solutions “Invest a little, learn a lot” Use low-cost and flexible labor options, e.g., interns, freelancers Emulate or license existing solutions from other markets Area 3: Use new models to fulfill ‘jobs’ of current and new advertisers:  Area 3: Use new models to fulfill ‘jobs’ of current and new advertisers Area 3: Use new models to fulfill ‘jobs’ of current and new advertisers:  Area 3: Use new models to fulfill ‘jobs’ of current and new advertisers Objective Maximize revenue opportunities from products and audiences to create and sustain robust online businesses Specific actions A. Identify important, unsatisfied advertiser/ business “jobs” B. Offer new models that get identified jobs done better than traditional solutions Create innovation structures & enablers Maximize the core Use new models to fulfill “jobs” of current / new advertisers Build audiences by fulfilling “jobs” beyond news A. Identify important, unsatisfied advertiser jobs in your market:  A. Identify important, unsatisfied advertiser jobs in your market Advertisers are frustrated with current solutions “I want to target an upscale audience, but the newspaper can’t do that.” – Specialized lighting contractor “The newspaper ad rep has no idea what we’re doing, and I don’t think they care.” – Local auto dealer “We are not able to buy pre-prints in terms of geography, and it dilutes our message.” – National retail chain “The money I have to spend on an ad in the local paper would be more than I would generate in sales.” – Florist “Mine is a relationship-centric business. I rely heavily on my own Rolodex, and newspapers can’t help me with that” — Mortgage broker ‘Advertising is the ultimate compensating behavior’:  ‘Advertising is the ultimate compensating behavior’ What “jobs” are they really trying to do? How are we currently serving them? Where are the opportunities? Expanding advertiser reach and share of wallet:  Expanding advertiser reach and share of wallet “Jobs to be done” can guide you to the answer Number of Customers Typical advertising spend National companies Regional / local companies Small local businesses & individuals How can we design products & business models to be able to serve small customers profitably? How can we offer products that national companies need in local markets? How can we increase our share of wallet of our traditional advertisers? B. Offer new models that get advertisers’ jobs done:  B. Offer new models that get advertisers’ jobs done “Help me reach a specific audience (by geographic, demographics, interests, etc.)” Examples of solutions “Help me develop one-to-one connections and relationships with my customers” Targeted websites & content areas Audience profiling/targeting Consumer direct marketing Email marketing Database marketing “Help make it easier or more affordable for me to attract customers” Self-serve channels Lead generation Paid search Search engine marketing/optimization Targeted publications and websites:  Targeted publications and websites Youth entertainment Mom and baby Ethnic audiences Sports fans Neighborhoods Teen issues Home improvement enthusiasts Baby boomers Job: “Help me reach a specific audience (by geographic, demographics, interests, etc.)” Audience profiling:  Job: “Help me reach a specific audience (by geographic, demographics, interests, etc.)” Audience profiling Collect information about the user: Site registration, opt-in offers, RSS feed preferences Track the user’s surfing behavior: Own and affiliate websites General vs. Targeted online advertising $ billions; Borrell Associates projection Targeted online advertising General online advertising Source: Borrell Associates Inc. 2006 Outlook: Local Online Growth Continues – For Some; N2 analysis 05-10 CAGR 25% 1% Self-serve channels:  Self-serve channels Key principles: Simplicity, ease of use Many customers don’t want help from a professional ad rep Ad reps will not readily sell products that don’t make sense to them “It takes me 10 minutes and 3 clicks to get my clients’ ads up on Google for a national audience, but to get the same ad up on your site, it takes many phone calls to your sales person and I can’t change my campaign easily” - Online ad broker Examples of self-serve channels: Job: “Help make it easier or more affordable for me to attract customers” Lead generation:  What it is User fills out an online form The newspaper or a third-party broker scrubs the data and passes qualified “leads” on to businesses The business only pays for qualified leads Price per lead is typically $5-$40, but can be >$100 in some cases Estimates of today’s market size range from $1-$4 billion Lead generation Job: “Help make it easier or more affordable for me to attract customers” Ways to get started Sign up with online ad brokers (such as CommissionJunction or AzoogleAds) to gain access to their database of pay-per-lead campaigns. Talk to current advertisers in prime lead categories such as autos, homes, mortgages and colleges, about their interest in lead-based advertising. Talk to small businesses that might otherwise not be able to afford to advertise on your site (e.g., restaurants) about a pay-per-lead program. Paid search:  Ways to get started Partner with national providers Build up searchable content (e.g., databases, classifieds, transactional systems) Experiment with different ways to monetize search Premium placements Enhanced listings Multimedia features Search engine optimization consulting Search engine marketing Paid search Online advertising revenue growth $ billions; Borrell Associates projection Job: “Help make it easier or more affordable for me to attract customers” Local 69% search National 11% search Traditional national -5% / local ads 05-10 CAGR Source: Borrell Associates Inc. 2006 Outlook: “Local Online Growth Continues For Some”; N2 analysis; note this is not inclusive of all advertising categories Consumer direct marketing services:  How to get started Offer data alerts notifying businesses of relevant news and information Create “private-label newsletters” for advertisers Help advertisers reach audiences through database marketing (e.g., sending coupons and offers to your registered users who have opted in) Manage advertisers’ marketing programs by designing newsletters and emails and sending them out to their customer databases Consumer direct marketing services Source: www.pilotdirect.com; Borrell Associates Job: “Help me make my customer outreach program more effective” Examples My Specials Direct PilotDirect Food Psycho JavaPlum Online direct marketing in 2010: >$7 billion opportunity Measuring progress:  Measuring progress Senior management dashboard Slide72:  New business models: Pointers and suggestions Start with simple mechanisms to learn about jobs to be done, such as by inviting representatives from non-advertising local businesses to lunch. Many new revenue models rely on new content models; “cramming” new models onto existing content might not work Go with “good enough” technology that exists today Letting consumers customize content provides useful clues about their interests Searchable content – such as directories, online classifieds and other transactional channels – can facilitate paid search and related opportunities Keep a lookout for new revenue models emerging in other channels, e.g., mobile Consider separate sales staffs, self-serve advertising or other organizational changes to give new models their best chance of growth Area 4: Creating innovation structures & enablers:  Area 4: Creating innovation structures & enablers Area 4: Create innovation structures & enablers:  Area 4: Create innovation structures & enablers Objective Put in place structures and enablers that make innovation a regular and repeatable part of everyday operations Specific actions A. Build a “common language” B. Dedicate resources to innovation C. Develop an innovation process D. Create “jobs to be done” feedback channels Create innovation structures & enablers Maximize the core Use new models to fulfill “jobs” of current / new advertisers Build audiences by fulfilling “jobs” beyond news Clayton Christensen’s organizational tips:  Clayton Christensen’s organizational tips Develop a common language Be “patient for growth, impatient for profits” Have senior management show the way A. Build a common language:  A. Build a common language Training mechanisms Train people in workshops Incorporate terms into key documents, e.g., business unit strategic plans Get senior leaders to use these repeatedly in speeches and conversations Encourage employees to use these terms in meetings, presentations and hallway conversations “Dip” Train a few focused managers Limited investment Leaves core organization unchanged “Saturate” Aim for widespread change Requires close oversight Can drive systematic change more quickly “Job to be done” “Overshooting” “Business model innovation” “Disruptive innovation” “Nonconsumers” “Good enough” “Invest a little, learn a lot” Training approaches B. Dedicate resources for innovation:  B. Dedicate resources for innovation Dedicated financial resources (“just enough”) to help champions flesh out early-stage opportunities Strong commitment by senior management to lean forward and participate actively in innovation Team of “experts” who can help address predictable problems (e.g., alternative business models) Innovation champions whose mission is to spot and seize new growth opportunities C. Develop an innovation process:  C. Develop an innovation process An oversight mechanism Appropriate tools Staged allocation of resources D. Develop ‘jobs to be done’ feedback mechanisms :  D. Develop ‘jobs to be done’ feedback mechanisms Episodic, casual interactions Simple structures Systematic approaches Invite advertisers in for a casual lunch Hold casual friends & family interviews Interact with consumers at high-traffic areas like malls and playgrounds Have outward-facing managers spend a fixed amount of time on external interactions Create a jobs-to-be-done panel that includes consumers and advertisers Form a dedicated group of consumers or businesses to serve as a “test-bed” for new ideas Tap into emerging solutions like ongoing online communities Keys to success: Have senior managers “model” desired behavior Create mechanisms to get unsolicited ideas from employees and consumers Celebrate good behavior Measuring progress:  Measuring progress Senior management dashboard Slide81:  Enabling innovation: Pointers and suggestions Start with firm senior management commitment Dedicate full- or close-to-full-time resources Hardwire key terms into documents Change the tasks to change the culture The items in this area are tightly interrelated; work on all items together Don’t accept “we don’t have time” as an excuse; take a critical look to identify time that is being spent on items that “overshoot” the market needs Beware the sucking sound of the core The N2 Dashboard:  The N2 Dashboard A way to set goals and measure progress Up to each organization to decide “how far how fast” Agree on priorities: “must-do’s” vs. “when we can” Determine the right metrics for your organization In addition to four Game Plan areas, monitor overall metrics Measuring progress:  Measuring progress Senior management dashboard The Complete Dashboard:  The Complete Dashboard Senior management dashboard Next Steps:  Next Steps Three visuals to take away from today:  Three visuals to take away from today 1. The N2 method: What to do 2. Game Plan: Where to apply it 3. Dashboard: How to measure progress Senior management dashboard Four things you can do beginning tomorrow:  Four things you can do beginning tomorrow Commit to doing things differently; commit to action Use the N2 Dashboard to guide you in setting goals and measuring progress toward an expanded portfolio Consider the best way to introduce and ingrain the N2 concepts, processes and tools into your organization Look for simple starting steps, such as talking to nonconsumers – both non-readers and non-advertisers – about their “jobs to be done” Contact information and resources:  Contact information and resources Web site: www.newspapernext.org. The Newspaper Next report is available as a free download. Hard copies are $50 each for API corporate members and $100 each for non-members. Newspaper Next one-day public workshops: Boston, Feb. 23! www.americanpressinstitute.org/seminars. Newspaper Next workshops for your organization: Steve Buttry, 703-715-3300 or sbuttry@americanpressinstitute.org.

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