M&E Journal: How D2C is Taking the Media Industry by Storm
By Richard Whittington, SVP, M&E, Industry Cloud Solutions, SAP –
Relatively new entrants into the M&E industry are fundamentally changing the very nature of the industry. The sheer volume of content in the marketplace means that to win, M&E companies need to provide their customers an exceptional brand experience by creating a seamless and personalized experience across time, place, channels and devices.
Many media companies have applied emerging technologies to provide direct- to-consumer services, driving actionable insight powered by data analytics. The following companies have made a commitment to enabling an exceptional brand experience in the media industry.
Listening to consumers
New consumer technologies that have been implemented throughout the industry have created a unique opportunity for media companies to capture consumers’ attention and drive loyalty.
Nielsen, a global measurement and data analytics company, believes sourcing the most truthful information from consumers can provide brands with the best knowledge on how to reach them. For example, by leveraging data analytics, Nielsen reported that 66 percent of customers are willing to pay more if a brand is socially responsible. For a company like Nielsen, which strives to get the customer experience right every time, adopting new technologies has positively impacted its business strategy and the brands it serves.
Delivering an exceptional experience
Another example from our customers is DC Thomson Media, which has created a single customer view across multiple domains. It chose a solution to be the identity layer at the centerpiece of its marketing technology stack. This enabled DC Thomson to address data privacy law requirements and gain a single customer view across the business. This benefits the subscriber — who is able to use a single ID across 15 properties and manage preferences such as how they access content. It also benefits DC Thomson because it has found that a “registered viewer is five times more valuable than an anonymous visitor, consuming significantly more content. Also, registered readers are twelve times more likely to buy a subscription to their titles.” Read the full business transformation on our web site (sap.com).
Using data to connect
The more media companies leverage the data they have, the easier it will be for them to put consumers’ wants and needs at the center of their business. For example, SailTracks, a sailing broadcasting service, has adopted an analytics platform to better connect with fans of sailing competitions, by turning sailing into a modern media sport.
SailTracks equips its boats and race makers with live tracking GPS sensors to monitor races in real-time. Additionally, the company has placed wind sensors around the course, which provide spectators with live data and analytics of the race, whether they are watching in-person or online. The live broadcasting technology that Sail- Tracks is bringing to consumers is drawing in more fans who know they’ll be able to connect with the sport, in real time.
Building business strategy on consumer feedback
Taking a consumer-centric approach benefits media companies in two ways: it allows them to digitally transform their business and that, in turn, provides a higher quality experience to their consumers, through personalized and seamless access. Having a digital platform is the key to long-term success in this increasingly competitive industry.
Media companies that use technology efficiently, prove they can respond quickly, and have the ability to deliver a personalized customer experience will stay relevant to today’s consumers.