Scott Jamieson Talks About Building Annex Business Media
Mar 11, 2024
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A CEO discusses growing a Canadian B2B media company, revenue shift from print to digital, challenges in the print industry, lead driver marketing campaigns, evolving revenue strategies, client reporting improvements, future growth strategy, and building a strong leadership team.
Annex Business Media shifted focus from print to digital revenue sources due to changing consumer behavior.
Building audience revenue through events and webinars is prioritized over traditional subscriptions for growth.
Automation of operational processes is a key strategy at Annex Business Media to improve efficiency and streamline workflows.
Deep dives
Diversifying Revenue Sources at Annex Business Media
Annex Business Media's COO, Scott Jamison, discusses the intentional diversification of the company's revenue sources from print to digital channels. This transition, accelerated by the shift in consumer behavior during the pandemic, led to significant changes in revenue distribution, with a noticeable shift towards digital revenue sources.
Focus on Audience Development and Marketing Services
Annex Business Media emphasizes building audience revenue through events and paid webinars, highlighting the growth potential in these segments as compared to traditional subscriptions. The company's strategic approach includes content-led events and marketing services, aiming to enhance engagement and generate revenue from multiple touch points with their audiences.
Automating Operational Processes for Efficiency
A key focus at Annex Business Media is automating operational processes to enhance efficiency and streamline internal workflows. By utilizing technologies like Domo for automated reporting and developing internal tools like E-Builder for E-news creation, the company aims to reduce manual tasks and increase productivity across various departments.
Strategic Acquisitions and Growth Plans
Annex Business Media plans to continue strategic acquisitions that enhance margins and add value to the existing business model. The company's growth strategy includes acquiring underperforming niche publications to leverage their strengths within Annex's operational framework. Additionally, the focus on succession planning and building a strong leadership team is crucial for sustained growth.
Emphasizing Leadership Development and Team Alignment
A key piece of advice for media operators looking to grow their businesses is to focus on developing a strong leadership team that aligns with the company's vision and values. Building bench strength at the executive and managerial levels ensures that the entire organization moves cohesively towards shared goals, fostering a culture of innovation and collaboration.
Enhanced Client Reporting and Automation
To address client feedback and enhance reporting capabilities, Annex Business Media has implemented automated reporting systems to provide clients with detailed insights on campaign performance. By leveraging technology solutions and a client-centric approach, the company aims to streamline communication, deliver actionable data, and drive value for clients in a more efficient and transparent manner.
Scott Jamieson is the CEO (COO when recording) of Annex Business Media, a network of b2b publications headquartered in Canada. In this episode, we talked about how Annex came to be along with him finding himself running the business, how the brands of Annex are stronger when united, and how they have made the transition from being predominately print to offering some very innovative digital ad products.
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