Being one of the world’s largest Media and Publishing groups, our Client, Hearst Corporation, was looking for ways to better monetise the excellent content they were producing. There had been discussion around pay walls, restricting premium content to paying subscribers, etc., etc. All the solutions they had considered were thought to be negative and potentially onerous to their loyal customers.
They turned to Percipience for assistance to find and implement a solution that would generate a significant new revenue stream without negatively impacting the number of daily visits to their family of over 300 websites.
Percipience started the engagement by completing an assessment of the situation designed to identify a prioritised list of opportunities. We very quickly found that there was scope to increase the revenue Hearst derived from on-page advertising on most of their websites. A lot of their advertising was essentially remnant CPM.
We quickly devised a strategy designed to significantly increase the number of unique visitors per month and to engage with their audience in a way that would dramatically increase their time on the page.
Hearst understood the importance of using video on their websites but the relevance and positioning of their videos was not of the same quality as the rest of their content. We felt that employing a strategy of empowering their journalists and other content creators to produce timely, relevant, top quality video was the cornerstone to increasing their monthly unique and time on page statistics and that these improvements would drive increases in advertising revenues potentially in excess of $10M per year.
We built a Hearst Video Contribution Cloud where journalists and content creators could easily upload finished videos with one click. Website publishers could then easily select videos, automatically rebrand them for their website and publish within seconds. For the journalists and content creators we gave them Videolicious, a mobile app for their IoS devices. We then trained them in a 30-minute online session on how to use the app and gave them simple tips to create more professional videos. Videolicious is a mobile app that allows you to create and edit together a sophisticated video from video clips and still photographs by adding voiceover, bottom third text, B-roll footage, music, etc., in seconds.
- • Top 5% of videos retain an average of 77% of viewers to the last second
- • By 2017 video content will represent 74% of all internet traffic
- • 4x as many consumers prefer to watch video about a product than to read about it
- • Using the word “video” in an email subject line boots open rates by 19% and click through rates by 65%
Results we achieved for Hearst
- • One of Hearst’s newspaper sites saw monthly unique visitors to their website increase by 2 million in the first month alone.
- • We created an estimated $9.6M increase in revenue from this initiative in the first full year of operation
- • We estimate a 1,200% return on investment within 15 months
Do you want to save costs and grow revenue?
If you’re looking for an innovative solution to solve a complex problem that significantly reduces costs or adds a new stream of revenues for your organisation, let’s talk. Each month Percipience’s partner, Peter Borner, personally offers a 30 minute strategy exploration call. On this call, Peter will personally review your situation and offer specific ideas to help you optimise your costs and grow your company’s revenue. Only 4 calls are offered each month, request yours today by replying to this email now.