Managing Director at F+W Media International
02 July 2010 12:39pm
My apologies if it sounds like PR initially, but this post needs a little background explanation:
Our business is a global media concern in publishing, magazines, events and direct to consumer mail order/eCommerce. In the UK, our primary business is publishing where our output is predominantly illustrated non-fiction.
To address the challenges facing our industry, we made a strategic move 18 months ago and restructured the business around specific community interest groups that we serve. With an online focus, we have built out new revenue streams around these communities - creating and selling content, offering online education, driving direct to consumer eCommerce and, of course, selling books and ebooks.
This initiative has worked well for us in our core market but a by-product of this is that we've become very good at 3 things:
1) Creating and curating online content (as an extension of our publishing competence)
2) Building online community and maximising revenue from communities
3) Building partnerships with technology companies for our various online models.
I'm very interested in the wider commercial application there may be the competences we've built and I am reviewing options to launch an offer where we can help commercial business in building online community and creating new content to serve the community.
Our core competence is not in the direct client relationship nor in working with clients to address strategic marketing issues - we need the community/content strategy to have been defined and can then help in the delivery.
So, I have two questions:
1) For digital agency personnel reading this, would the idea of a community content partner of our nature be appealing?
2) Are you someone who might be able to help identify the opportunities and bring this to market?
All thoughts welcome.
CEO at Econsultancy
19 July 2010 10:20am
Interesting. This is something we too are looking at. Taking what we've build with Econsultancy in terms of a business model, a web platform, and set of management capabilities and applying them to other markets / sectors. However, we'd focus on B2B whereas I'm not clear whether you'd just be B2C? And we'd want to have an equity stake in any business/sector we went into i.e. not just be a 'contract publisher' online.
Have you had a look at the like of Magicalia and Sift Media who have been doing this sort of thing for years?
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