Client: A leading Indian publisher of popular magazines, growing profitably at 10-15% annually.
Promoter's Dream: To monetize content around the world, and further build brands to ensure sustained, profitable, growth.
The Avenues of Opportunity Recommended by OPENMIND
Not Readers, Consumers: The client now connects almost solely through magazine readers. OPENMIND MD, Mr. Richard Rothman, recommended that the client connect with the other 90% of consumers – listeners and viewers – by extending its brands across all media platforms. By connecting with listeners and viewers as well as readers, the client can massively expand his consumer footprint and recover an enormous opportunity for sustained, profitable growth.
Adapt "Where" Positioning: Because of its magazine orientation, the client has viewed other media simply as an extension of print, i.e. a video magazine. OPENMIND recommended that the client could greatly enhance the value of its brands by creating content specifically tailored to each media: print, TV, radio, mobile or tablet. By creating distinctive content across media, the client will delight both consumers and advertisers, and uncover opportunities for sustained, profitable growth.
Build Digital Presence: 900 million Indians worldwide have mobile phones, but few are interacting with the client’s media brands on mobile or internet. OPENMIND MD, Mr. Richard Rothman, recommended that the client quickly build the capacity to set up a very sharp digital presence for his major brands. By understanding the needs of a vast group of potential new consumers who no longer touch paper, the client will discover huge opportunities for sustained, profitable growth.
Actions Taken: The client wholeheartedly accepted the OPENMIND recommendations and has begun to implement them. There has been promoter and top management participation throughout the entire process and decision-making.
The OPENMIND Advantage
Industry: The media industry is projected to grow at a Compounded Annual Growth Rate of 12-15% over the next five years.