INMA WORLD CONGRESS MAY 12, EDWARD ROUSSEL, Chief Innovation Officer Dow Jones & The Wall Street Journal

Transcription

1 INMA WORLD CONGRESS MAY 12, 2015 EDWARD ROUSSEL, Chief Innovation Officer Dow Jones & The Wall Street Journal

2 KEY THEMES TODAY 1. Modernizing WSJ Products 2. The Good & The Bad 3. What Next? 2

3 MODERNIZING WSJ PRODUCTS All key platforms refreshed since January 2014 Apple Watch April, 2015 Alerts and top stories Pushes customers to read in other products Market data WSJD January, 2014 Dedicated technology section on WSJ International technology conference WSJ.com April, 2015 Responsive website Mobile ready Faster & more visual Sells more subscriptions SUBSCRIPTION MEMBERSHIP ipad September, 2014 Continuous Improvements Faster and more stable Crosswords New templates multimedia rich Magazine Android March, 2015 Improved experience Combines the paper and 24/7 news in both tablet and smartphone WSJ+ September, 2014 Invites + Offers + Inspiration A complimentary addition to your subscription that gives you access to curated events and offers 3

4 THE GOOD AND THE BAD: WHAT LESSONS DID WE LEARN? IF GOOD: WE WERE TO DO IT ALL AGAIN: Collaboration works Accelerating sprints The Smaller, rise bite-size of the inner-innovator code releases Obsess about page speed, performance Churchill s bunker: planning, planning, planning 4

5 WHAT NEXT? HOW DO WE INNOVATE SMARTER, FASTER? Focus on the end game: 3 million subscribers Get to know our customers CUSTOMERS OF THE WALL STREET JOURNAL PRINT TRADITIONALIST ECLECTIC INTELLECT CONSERVATIVE RETIREE Often seen carrying a briefcase and a print edition of the Journal. They are typically conservative suburban businessmen who rely on the print edition of WSJ more than any other customer segment. Usually found with their nose in a book. They are well informed because they have read, well everything. They are highly educated and are a political mix of liberal and conservative. Often seen at home, relaxing and enjoying retirement. They are the wealthiest and the oldest of WSJ customers who typically have conservative opinions. Daily. First thing Print Traditionalists do when they get to the office is read about politics, sports and business because it is critical for the success of their careers. Plentiful. Eclectic Intellects seek long-form articles that spark their imagination. They have a preference for commentary, analysis and human-interest stories. Daily. Conservative Retirees begin each day reading the newspaper where they check their stocks and read their favorite columns. They prefer topics and articles that facilitate investment decisions. A DOW JONES FIELD GUIDE 18% 87 : 13 $220K 13% 65 : 35 $197K 22% 78 : 22 $163K KEY Obsess about our competitors Segmentation Core subscriber segment High proportion of overall subscriber base. High-opportunity segment Small proportion of overall subscriber base, but with high receptivity to WSJ. Low-opportunity segment Small proportion of overall subscriber base, with low receptivity to WSJ. Income Empower the newsroom: journalists, designers, developers Fast-track: early-stage innovation $10K - $150K $151K - $300K $301K - $450K Top Platforms Radio Print Mobile Computer TV CAREER-DRIVEN LEADER MOBILE MOVER SOCIAL MEDIA MAVEN They are often spotted leading a business team or climbing the corporate ladder. They are middle-aged professionals who use technology in the office, at home and everywhere in between. Typically seen checking their mobile devices. Tech savvy and career-oriented they are highly educated, accomplished leaders. The highest earners of WSJ customers. Tend to be spotted using social media to stay current with trends and news. They are the youngest of WSJ customers, career-focused and are early adopters of technology. Purposeful. Career-Driven Leaders use digital media to specifically read about tech, marketing and business, to aid their career progression. Frequent. Mobile Movers use their smartphones to check the WSJ app, Google Alerts, Twitter and go-to websites. They prefer quality news and read about business, politics, sports and management. Gratis. Social Media Mavens don t usually pay for news but do read WSJ to advance their flourishing careers. They enjoy reading about fashion, travel and tech via newsfeeds. * 15% 79 : 21 $212K 20% 88 : 12 $306K 2% 50 : 50 $87K Dow Jones is passionate about becoming a customer-focused business. So to better understand who our customers are, what they do and what they care about, we went out into the field and surveyed our WSJ audience. Learn more about our customer segments and find out which one you are at ckp.dowjones.net Source: The Wall Street Journal Segmentation Study (USA), * Applies to subscriber population. ** Applies to market population. UNENGAGED ESSENTIALIST FREE-THINKER SPORTY PROGRESSIVE MAINSTREAMER Can be found working in their gardens or on their homes. They have an aversion to digital media and are the most disengaged of WSJ customers. Often found at museums and the theater satisfying their curiosity for culture. They are slightly older, have liberal leanings and a lower income than other segments. Typically seen with a television remote in one hand and smartphone in the other. They skew male, Hispanic and liberal. Typically spotted tending to their families. They live in rural areas and are predominantly conservative female homemakers. Minimal. Unengaged Essentialists prefer free news or no news at all. If they do read, it s usually about local stories, the weather and personal finance for retirement planning. Free. In keeping with their free-thinking ways, they do not pay for news. They seek out in-depth articles and prefer to read about world news, politics, science and investigative journalism. Concurrent. Sporty Progressives consume the news at the same time as they watch live sports. They enjoy reading about politics, opinions and sports. 4% 47 : 53 * $89K 2% 45 : 55 * $62K 2% 64 : 36 * $72K Headline-focused. Mainstreamers prefer to use one or two news sources to keep them up-to-date with the weather, entertainment and local news. 1% 27 : 73 * $57K 5

6 A NEW INNOVATION UNIT Fanning the flames of innovation across Dow Jones Focus on mobile: THE platform for the next 10 years Disrupting ourselves before others do it for us Move fast, learn fast 6

7 SUMMARY Clear definition of success Obsess about customers and (NEW) competitors Separate business as usual development from early stage innovation 7

8 THANK YOU.