Hi all,
I assembled a panel of publishing contacts and other minds to discuss the future of Book of Lists, and ways to increase engagement and revenue. We had a lively discussion, exploring the model from top to bottom and trading best practices.
Video Link:
Link: https://us06web.zoom.us/rec/share/BzfhwDyQeyoi5Y2ZwZU7Zp399LqXnkiJasKparkTFzGEqeoKXyy3KAhoyUYMraGP.cQb4T7u6n7HVE_U8
Passcode: Wh#x4Ei5
Purpose/Vision:
To conceptualize “The Book of Lists of the Future.” To analyze the strengths and weaknesses to come up with tangible ways to change and improve the model.
The goal was "One good idea for measurable progress."
This was ideation (big picture), not details of execution. The details will be hashed out after the fact in an online forum format. Make sure to leave at least ONE COMMENT on this post!
Partners
I invited the following partners to weigh in:
Zach Gemingnani - Juice Analyticis - Data Visualization Expert. https://www.linkedin.com/in/zachgemignani/
Jacob Fogg - CopperPress - Tech Consulting and Development - https://www.linkedin.com/in/jacob-n-fogg/
Danielle Jongewaard & Brian Chilton - Punching the Plaque Scalpers in the Face with Integrity - https://www.linkedin.com/in/danielle-jongewaard-b3b727256/
Nuggets:
What’s the value of Book of Lists?
B-to-B sales bible. (Contact list for sellers)
(more intangible) Serves the community by TELLING THE STORY of the business community. Celebrates achievement.
The first value proposition is going away, as contact data becomes more and more ubiquitous. If we don’t press into the second proposition, the value will continue to declie.
The BOL needs a refreshing look and feel and experience. Print is limited to create the level of interactivity needed to create engagement. Enter Zach, who gave a great sample of what is possible in terms of filtering.
I jumped up and down on my bandwagon that all publishers needs to CHOOSE their primary model. You can’t have both at the top. You can have both, but ONE will always overshadow the other, and make it less effective.
Ad / Sponsor Supported Model. Needs to be freely accessible and valuable to as many people as possible. Lots of eyes. More advertisers.
Data Subscription Model. The super-user pays a fee to access the data, and is able to freely search and filter the data to mine for insight.
I didn’t ask this question, but meant to. When I asked the question, early on, about how much revenue comes from SMBs, everyone said that local SMBs are the vast majority of advertisers and supporters. But in the current revenue/employee ranked model, those SMBs are exactly the people that can get pushed to the bottom and off the list. How many of these entities don’t participate because they have no possibility of making the list? Aren’t we missing a massive engagement opportunity? I have some ideas, but I first want some confirmation on this assessement. Make a comment, please!
Key Ideas:
Turnkey Plaque Commemoration (Popmount). This was the idea of creating and marketing generic plaques with just the BOL cover and the list name, not the rank.
Researcher Revisualization. Integrating the research team with the editorial team to increase engagement and generate stories. Teaching the researcher to maximize the one-to-one opportunity to get a better pulse on the companies.
Online Filtering Mechanism for power users. This was the site that Zach showcased. You can click here to play with it: https://explore.myjuicebox.io/a/aba_law_schools/
Online Directory = not a data filtering, deep insight tool. It's a storytelling tool. Does not replace your Data Subscription site. See sample: https://directory.phoenixmag.com/city-guide/home
Economic Yearbook Model. Richard Foster and Virginia Business take this approach. Richard, can you share some examples of how you supplement the lists with other market intelligence?
Book of Lists App. Jason Martin shared this idea about creating an interactive app that can be accessed on the fly. Anyone been down this road at all?
Customer Subscription / BOL / Sales Contact Integration. JR shared about his corporate initiative to integrate databases across the enterprise — including Book of Lists — to create personalization opportunities.
Other Ideas (I didn’t share these, but want to see if any have legs.):
“Experts” model. For each list, editorial generates a question for the top executives that reflects something of interest in their particular industry (ex. law firms). There are five slots. A Top Executive from any company can pay $1,000 to answer the question. The five that opt in get published with mugshot and their 3-5 sentence answer. They get to be one of the “Experts” in the conversation.
"Honorable Mention" Model (Worthy of Note). This is a way to rope in the smaller SMBs that would never make the list. If they participate, and they meet one of the criteria, (Revenue growth more than 10%. Employee growth more than 10%. Expansion, etc.) then they get mentioned on a separate page with a list of other “newsmakers.”
BOL Event? Who does a BOL event? How can this be revitalized?
For Further Discussion:
I don’t want this round table to be the end of the discussion, but the beginning. There’s only so much you can do in an hour. So I’ll leave you all with a few questions and an action item.
Action Item: Please leave at least ONE comment!
Here are some prompts for your comment:
If it was useful to you, please say so! Tell us your big takeaway!
Of all that was shared in the session, which idea seems most viable? Which one idea seems most like it has the “seed of greatness” in it?
What would have to be true for engagement to double this year?
Is there anybody who should be added to this conversation? Share this post!
Thanks for being on the journey with us!
Thanks, Johnny. Valuable conversation. Just getting an opportunity to dive into the Substack and look over your notes... big thanks for introducing Pop Mount as a turnkey plaque solution. The big takeaway is the BOL concept will need to evolve in order to remain relevant, and as publishers, we have a great opportunity to push the envelope to make this product even more beneficial to subscribers.
My big takeaway was confirmation. This conversation is long overdue, and I can feel the energy around this topic!