Lag measures vs. Lead measures
Posted: Mon Dec 23, 2024 8:26 am
This new concept has certainly gained a foothold in the film industry. You see that production companies like Disney are releasing fewer and fewer films per year, but that these films are getting bigger and bigger. Guess what? The turnover and profit per film are also getting bigger.
As a possible cause for this, Elberse points to the concept of 'self-fulfilling prophecy'. Because a lot is invested, expectations are automatically high, many parties get involved and a buzz is created, as it were.
6. Keep investing in innovations, and don't just assess traditional KPIs
While other traditional media have had a hard time in recent years, The Washington Post has had good years. The secret? They immediately dived into all online channels. Shailesh Prakash, CFO of The Washington Post, says that many traditional media have long shied away from online channels. After all, you can't give your content away for free? At The Washington Post, they weren't afraid of that and they jumped headfirst into developing their own website and associated social channels.
The formula for success
The focus was always on excelling in technology and guaranteeing high-quality journalism. As soon as it became apparent that many visitors visited their website from mobile devices, they immediately switched to a responsive website. And instead of following every news flash, they continued to do solid journalistic research.
That turned out to be a successful formula. Visitors can read up to eight articles per month for free, and then have to take out a paid subscription.
Even now, the newspaper continues to innovate with techniques and algorithms that, for example, search for the best title for an article. But when you innovate so much, it is difficult to continue to judge yourself on traditional KPIs. That is why the newspaper decided a few years ago not to measure using lag measures, but to use lead measures instead.
At the newspaper, they therefore do not focus so much on the number of new subscribers, the number of page views or turnover. They do measure it of course, but pay more attention to how often they hotel email address list have a scoop per week and how visitors value their content. Whoever focuses on good performance, automatically achieves underlying goals such as subscribers and turnover, is the idea.
Crystal ball or reality?
Are we really reading coffee grounds with these predictions? No. Anyone who works in (online) marketing or communication will undoubtedly recognize these trends. In fact, all the theories described above are already underway.
What do you think? Will we only look at datasets in twenty years, or will we seek connections with communities? Will we seek our profit in the long tail, or in blockbusters? What will our profession look like in the future? I am very curious about your ideas.
Employee advocacy goes beyond spreading the brand message. It only works if the employee spreads authentic messages and is actually active on the networks where he or she does so. More and more companies are therefore training their employees to use social media for structural business success.
As a possible cause for this, Elberse points to the concept of 'self-fulfilling prophecy'. Because a lot is invested, expectations are automatically high, many parties get involved and a buzz is created, as it were.
6. Keep investing in innovations, and don't just assess traditional KPIs
While other traditional media have had a hard time in recent years, The Washington Post has had good years. The secret? They immediately dived into all online channels. Shailesh Prakash, CFO of The Washington Post, says that many traditional media have long shied away from online channels. After all, you can't give your content away for free? At The Washington Post, they weren't afraid of that and they jumped headfirst into developing their own website and associated social channels.
The formula for success
The focus was always on excelling in technology and guaranteeing high-quality journalism. As soon as it became apparent that many visitors visited their website from mobile devices, they immediately switched to a responsive website. And instead of following every news flash, they continued to do solid journalistic research.
That turned out to be a successful formula. Visitors can read up to eight articles per month for free, and then have to take out a paid subscription.
Even now, the newspaper continues to innovate with techniques and algorithms that, for example, search for the best title for an article. But when you innovate so much, it is difficult to continue to judge yourself on traditional KPIs. That is why the newspaper decided a few years ago not to measure using lag measures, but to use lead measures instead.
At the newspaper, they therefore do not focus so much on the number of new subscribers, the number of page views or turnover. They do measure it of course, but pay more attention to how often they hotel email address list have a scoop per week and how visitors value their content. Whoever focuses on good performance, automatically achieves underlying goals such as subscribers and turnover, is the idea.
Crystal ball or reality?
Are we really reading coffee grounds with these predictions? No. Anyone who works in (online) marketing or communication will undoubtedly recognize these trends. In fact, all the theories described above are already underway.
What do you think? Will we only look at datasets in twenty years, or will we seek connections with communities? Will we seek our profit in the long tail, or in blockbusters? What will our profession look like in the future? I am very curious about your ideas.
Employee advocacy goes beyond spreading the brand message. It only works if the employee spreads authentic messages and is actually active on the networks where he or she does so. More and more companies are therefore training their employees to use social media for structural business success.