Vilfredo Pareto tells us that 20 percent of causes account for 80 percent of effects. It’s eerie how often that ratio applies, but rather than worrying about the metaphysics of it, publishers should consider how to modify their strategies based on how this might play out in their businesses, like … 80% of revenue may…
It seems most of the world is experiencing some combination of astonishment, hope, and terror over the recent developments in artificial intelligence. One of the main concerns is whether AI will eliminate jobs. The smartest thing I’ve seen on that subject came from a meme on LinkedIn that said “AI won’t take your job. A…
Takeaways: The areas where publishers can add value are shrinking. Don’t look for diminishing niches. Think more broadly. There’s an old argument called “the God of the gaps” that says we used to need gods to explain thunder and famine and life, but as we advance in our knowledge of the world, God is required…
Premise: Publishers hastened their own demise when they put their content on the internet for free. Artificial intelligence is one more nail in the coffin. To follow along with the argument, think of the history of the internet in these broad stages. 1. The worldwide web. Independent websites were connected by an informal and disorganized…
A couple newspapers have. Noozhawk and Cap Times prove that for-profits can have strong membership programs. (Thanks to Bo Sacks for the link.) Most of Noozhawk’s revenue comes from advertising and sponsorships, but reader contributions have been a growing source of income since soon after the site’s launch. In 2008, after a handful of readers…
The latest edition of The Krehbiel Letter Podcast is available. Two New Year’s resolutions for publishers regarding customer data and micropayments. Thoughts on paywalls. Front-end vs. back-end CDPs, and why you should let your use cases drive your decisions about customer data. How to use AI to create additional content from your webinar. Print vs….
It’s easy to assume that everyone else knows what you know. In this article, I provide some examples of where this bias can crop up and how to deal with it. Read my latest over on the martech.org site.
A lot of people deride the idea of New Year’s resolutions because so many people make them and don’t keep them. Even if that’s true, it seems to me there is some virtue in trying. But in any event, I looked up some (allegedly) science-based ways to keep your resolutions. Make them … Specific and…
#1. Before I collect any data on my customers, I will write a customer-facing explanation of why it’s good for them for me to have that info. Consumer privacy concerns include the sentiment that they and their data are not a product for you to sell. There are also issues of trust and consent. I.e.,…
Publishers erred when they relied on ad revenue and put their content on the internet for free. That revenue model isn’t stable, and (worse) it created an assumption that digital content should be free. Now that ads aren’t providing enough revenue, publishers have to push back against consumer expectations of being entitled to free content….
How deeply should you micro-manage people? Do you treat them like competent professionals, or do you get into their business and check their work? I’m not sure there’s a one-size-fits-all answer. What do you think? If you want to understand contemporary issues, read old books. You have to get your mind outside the trap of…
Think of CDP capabilities this way: there are back-end functions and front-end functions. By back-end I mean the data collection, cleaning, and processing efforts to create the mythical “golden record.” By front-end I mean the activations: managing paywalls, displaying special offers to discrete audiences, personalization, and so on. You may only need the front-end. To…
You’ve created a great webinar on a topic that your market loves, and now you’re wondering, “what else can I do with this?” You’d like to create an article for your website or e-newsletter, but that uses up editorial time. You could hire a freelancer, but that will take time, and it might not be…
In the last issue, I mentioned why we should be skeptical of 3rd-party advertising claims. Along those lines, is attention measurement a real thing, or is it another way for the ad sales industry to snow people with BS metrics? Some “attention measurement” technologies require special apps and permission to track eye movements. Are people…
It’s such an old issue you might expect we’d be pros at this by now, but I continue to see serious, professional publishers making decisions about print and digital based on shallow metrics, like “we’ll save all the money we spend on printing and mailing.” Please. There are so many other things to consider. Are…