15 Elements of an Effective Audience Development Program
Also, incentives tied to financial performance are within reason and advisable for audience developers. In many organizations, they are generating up to 50 percent or more of the revenue. Why do we pay commission on advertising sales, but not membership, subscriptions and e-commerce?
Knowing what is going on in your business is a prerequisite for success. Using that information to forecast future performance takes audience development to the next level of business maturity. Define five to 10 "top line" metrics that tie to audience development goals, such as customer loyalty, cost to renew, cost to acquire, conversion, lifetime value, brand equity, engagement, return on investment, friends, followers, etc. Is there a commitment to primary research with the audience? How efficient is your process for data capture? How often do you evaluate what data you need and collect? How accessible is the data? What is the integrity of the data? Audience developers have access to more data than ever before, but to leverage it for smart and profitable growth, there is an increasing demand to analyze the data, and build products and more revenue on it.
#12 Metrics: Define key performance indicators for your brand.
#13 Research (within and across channels).
#14 Data (capture).
#15 Analytics (business intelligence): Use your data for a competitive advantage.
Inventory complete; how did you fare? Most companies acknowledge the importance of audience development and have elevated the function and staff in recent years. And audience development professionals I know want to leverage content to meet or exceed expectations for audience retention, growth, engagement, and generating revenue and profit. Let's equip them to do so. PE
Lou Ann Sabatier is principal of Sabatier Consulting. Since 1997, her practice has helped publishers gain a competitive advantage and achieve desired results. Sabatier and her team provide an extensive array of services to clients, ranging from comprehensive audits, business planning, audience development and research to digital strategy and creative execution. Contact Sabatier at: firstname.lastname@example.org.
Lou Ann Sabatier has 35 years of experience in the publishing industry. Ms. Sabatier has been deeply involved in all aspects of publishing; including strategic planning,business development, business and financial management, audience development, advertising sales, digital media and operations management. Currently Ms. Sabatier is Principal at Sabatier Consulting and Communications Director of 21st Century Wilberforce Initiative.