One of the most powerful and memorable moments of any LMA Innovation Mission is the sharing of critical insights, top takeaways, and potential action items as the trip draws to a close. It’s a collaborative, candid way to assimilate much of what was learned, and then communicate possible paths forward.
The Atlanta/Raleigh-Durham Innovation Mission put a noted focus on media transformation strategies — encompassing audience, revenue, culture, and more – highlighted by signature meetings with Cox Media Group, McClatchy, and WRAL. Attendees brought refreshing company and role diversity to the trip, with an even balance of broadcast, newspaper and R&D spread across audience, product and revenue responsibilities.
The IM debrief and sharing of takeaways is private, and all insights remain anonymous. However, here are a handful of prominent headlines that surfaced during the session.
“It’s very important for us to be able to say no. Our resources are limited. It’s inspiring to see so many companies doing so many things, but it’s just as valuable to be around peers that are at my level and having to make similar decisions.”
“I want to do a Net Promoter Score survey with all my customers and employees. We really need to drive that into our company and outside the company as well.”
“Penny Abernathy at UNC talked about identifying our top customer franchises. We need to be moving readers from engaged to loyal to attached. I realize how important it is to move them through that funnel and nurture our communities. We’re either solving their problems, or we are their problem.”
“Transformation is messy. Success isn’t a straight line, and that’s ok. We also need to continue to say no to incremental thinking.”
“We have to focus on results, not just process. I need to be able to go to my management and say ‘these are the things recently that have moved the needle.’ But to do that we have to know what metrics will matter with our senior management. That’s still a question mark.”
“Having a 5-year plan for growth is so important! It helps us to define what our culture is to then communicate out to our staffs and the community. It also ties into how I can recruit differently.”
“It’s great seeing audience-focused people at these companies. That’s something that is necessary for us to understand, particularly on digital platforms. We took our audience for granted for so long. Now we must serve them better.”
4 themes critical to media companies that will be front and center on the National Innovation Mission