Signature March/April 2015 - (Page 10)

shortruns 5 TRUTHS ABOUT MAKING MONEY FROM MEMBER DATA BY BRETT KEIRSTEAD If monetizing your audience data is on your association's plate for 2015, there are several truths to consider before you take action. But before getting into those, let's define data and monetization. In today's diversified publishing world, data represents the sum total of all the demographic, behavioral, and contextual information a publisher can collect on an individual audience member across its print, digital, email, event, mobile, and social channels. The consolidation of this rich set of information into a single place that can be easily accessed for use across the enterprise is typically called a unified audience database. Monetization in publishing can take many forms: n■ Increasing ad rates (online, offline) n■ Expanding custom media, services n■ Lowering subscriber attrition n■ Improving user engagement n■ Introducing paid models n■ Direct data licensing n■ Adding live/online events n■ Growing list rentals A unified audience database, coupled with a specific plan of monetization, can yield exceptional results for association publishers. To capitalize on this opportunity, here are the five truths you should consider as you tackle data monetization in 2015. TRUTH 1 Quantitative data monetization projects encompass revenue increases and cost reductions. When laying out the economics of your audience data, consider not only the revenue side but also the cost components. Solid data monetization ROI can be achieved in a few short months simply by eliminating redundant systems, reducing data entry and search times, reducing email expenses, and slowing rates of sales attrition. 10 MARCH/APRIL 15 signature

Table of Contents for the Digital Edition of Signature March/April 2015

Under the Covers
Members Only
Short Runs
Ads and Editorial
A New Tune in E-Flat
Profiles in Publishing
Tried and True
Legal Ease
Home Page
New Editions
Signing Off

Signature March/April 2015