Faced with digitalisation, disruptive advertising models, new channels to market, and rapidly shifting consumer preferences, media professionals are having to constantly find solutions to help navigate the ever-changing media landscape. By immersing ourselves in our client’s businesses, Vendigital’s media consultants have been at the centre of this fundamental shift for over a decade.
Common Challenges
Most media companies are facing challenges of one form or another in todays environment. One common challenge is how to manage the transition from a legacy business model to a future one without compromising their core proposition. Media companies must optimise and streamline their organisation while maintaining their commitment to quality content.
This is even more true in print media where declines in circulation that are often terminal have led to lower sales revenue, creating additional challenges when looking to make significant changes such as migrating to a digital model.
With platforms such as Google and Facebook taking a significant share of advertising spend the task of optimising for monetization has become even more challenging. This, added to the proliferation of free content and less money reaching the creators of content, has meant that many media organisations need to make strategic changes to not only remain relevant but to simply survive.
Of course, where there are challenges there are also opportunities. People are spending more time and money on media content than ever before and the demand for high quality content has never been greater. But with the rise of digital, mobile and video-on-demand, media companies that rely on print and linear broadcasting are struggling to continue to produce high quality content and take advantage of the shift in consumer behaviour.
Traditional media companies, such as print and linear broadcast companies, need to respond to the changes in the market while continuing to produce the excellent content that is expected of them and this is where our expert media consultants can help.
Experience tells us that the successful organisations will be the ones which are able to become leaner, more agile and tuned in to the future demands of consumers. Rate and volume of data consumption and the ability to monetise this will be the key battle ground for all media companies.
Potential Solutions
Vendigital’s media consultants apply a number of key levers when working with a customer to transform their cost-base and operations. Using our experience, we can work with our customer to improve demand management, streamline internal processes and deliver procurement efficiencies. Our aim is to implement cost improvements but without any compromise to capability or product quality, ensuring our customers not only survive but thrive in this new environment.
Potential solutions include working with our customer, and their internal data, to identify areas of an organisation that either have high costs and a low return on investment or areas that have excess capacity. The savings that are made can then be used by our customer to release capital or as part of a wider strategic plan of reinvesting in the business, enabling that organisation to better compete in today’s landscape.
Our media consultants can also advise on diversification of revenue streams or how to increase return of investment on assets and leveraging portfolio while retaining brand identity. This could mean investing in digital, e-commerce or more traditional platforms such as events. Ultimately, the approach we take and the recommendations we give are based on the needs and desired outcomes of our customers.
The challenges facing the media sector are significant, however, our media consultants have the experience to guide our customers, allowing them to embrace new ways of working which will enable them to take advantage of the new opportunities.
The Vendigital Difference
Using a combination of industry benchmarking, complex data analysis and sector expertise to achieve both immediate and long-term cost transformation, our media consultants work alongside clients to quickly assess, recommend and implement effective changes that will deliver sustainable benefits.
Contact us to speak to one of our specialist media consultants and see how we can make a difference to your organisation today.
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