Digital transformation through data has been saved
Digital transformation through data
Deloitte Global Data Maturity report
A first in a series, Deloitte has produced a Global Data Maturity report that examines how companies can use data to increase user engagement on digital platforms and drive value through the monetisation of those platforms.
How can news and media companies use their unique audience insight to drive more value?
Digital innovation has reshaped the news and media industry. To capitalise on this evolution, news and media companies are harnessing the power of their digital platforms to generate insights on reader behaviour in ways that were never before possible. By applying these insights with increasing sophistication, companies are improving both reader engagement and online revenue performance.
We believe news and media companies collect, analyse, and activate audience data across three operational objectives:
Increase overall reader engagement: How can you generate an abundant and engaged readership in order to secure the subscription and advertising opportunities needed to survive?
Improve direct-paying relationships with readers: How can you successfully build valuable reader relationships to create recurring revenue streams and reduce long-term operating volatility?
Drive revenue from advertisers: How can you make the most of your data to expand the scope of your advertising campaigns and revenue?
Key findings from the report include:
- The report found more than 90 percent of news and media companies are lagging in data maturity. In addition, close to 75 percent of publishers have defined objectives for using audience data, but more than half are unable to realize the benefits.
- Mature news and media companies are seeing conversions increase by up to 30% on some non-core products and driving up to 20% more subscriptions than less mature companies, while others are building entirely new revenue streams (e.g. classifieds, events, gaming and e-commerce) based on insights into what readers are likely to buy.
- News and media companies adept at using audience engagement data can optimize cost per thousand impressions (CPM) across both direct and programmatic channels by up to 20% compared to less mature companies, as well as expand the scope of advertising campaigns based on rich reader insight.
About this report
Deloitte held interviews with more than 80 individuals across more than 50 news and media companies from 16 countries across the globe. Additionally, interviews were conducted with more than 20 technology providers, advertisers, and advertising agencies. Data maturity was measured by how far along companies are in leveraging data as insights to inform business decisions. Four maturity levels were observed: Level 1 (Nascent), Level 2 (Developing), Level 3 (Mature), and, the most advanced, Level 4 (Leading).
This report was commissioned by the Google News Initiative (GNI) and conducted by Deloitte. The findings were discussed with Google executives; however, Deloitte is responsible for the analysis and conclusions from the study.