LunchByte | What District Technology Leaders Want with Guest Lenny Schad

This episode of LunchByte features host – Jill Abbott, Senior Vice President and Managing Director of ETIN as she speaks with Lenny Schad.

Host

Jill Abbott is currently the Senior Vice President and Managing Director of ETIN. Her passion centers on education and helping people reach their maximum potential. With this inspiration and insights gained from a comprehensive background in education reform, personalized learning, assessment, curriculum design, and policy and program development. She is a seasoned executive in education holding local, regional, state, national, and international roles in improving education through transformative practices.

 

Special Guest

Lenny Schad has been in the technology sector for 28 years, spending time in hospitality, government, oil and gas, investment banking and education—including managing and leading technology departments for the 1991 Economic Summit of Industrialized Nations and the 1992 Republican National Convention. Schad moved to the school sector in 2003, and successfully led implementations of BYOD and 1-to-1 initiatives in both Katy and Houston.

 

The LunchByte is the podcast for the Education Division, ETIN, of SIIA This series provides you with access to leaders in the education industry and private enterprise.

Learn from leaders what:

·        The new topics in education are,

·        They are thinking about for the next wave of technology,

·        The greatest trends in sales and marketing involve, and Much more.

 

News update. Vector digital news, online newspaper concept. Site editing, content updating illustration. Newsletter and newspaper, communication and news online

Tips for Increasing Your Subscriber Base

“Be thoughtful about what you’re giving away for free and why. Freemium and free trials are all the rage, and virtually every digital news organization has some content that’s not behind the paywall. Great. But make sure you understand the return on this investment. A free trial is a taste of something to prove it’s as good as you said and to help someone new to understand what it ‘tastes like.’ But once they’ve tasted, they don’t need to taste it again. Too many readers game the system, clearing cookies and rotating through devices and news sources each month to avoid paying.”

That quote comes from best-selling author and speaker Robbie Kellman Baxter—she even keynoted a past SIPA Conference—in an article she wrote for the site What’s New in Publishing titled What Publishers Can Learn From Other Sectors.

A recent report from the Shorenstein Center at Harvard and Lenfest Institute agreed with her. Most publishers are too generous and need to stop more readers to force conversion, the report said. It spoke about the importance of having a high stop rate—the percentage of all digital users who are “stopped” by a subscription prompt, a paywall or a meter limit. The report found that the organizations that are stopping more people have stronger digital businesses.

Here are more audience and content tips from Kellman Baxter and others:

“Don’t hide the cancel button or lock-in membership,” writes Kellman Baxter. “Netflix takes this to an extreme, in the best way. You can only subscribe monthly—there is no ‘annual’ option, and every time they change the model or raise prices, they remind subscribers that they are free to ‘cancel anytime.’ Why? Besides being the ethical approach, members who feel locked in will eventually break free. When they do, they will loudly share their story, and they’re unlikely to return. Make it easy to leave and easy to return.”

Make your content valuable and affordable. “If [one of your customers] doesn’t want to buy your content because [she] says it’s too expensive, then maybe you need to do some soul searching in your content,” said Grey Montgomery, president, data & research division, Farm Journal. “My audience in a lot of ways can’t afford it but they do because we also pitch back, for example, ‘If you follow all of our hedging strategies with your size crop, this is how much you would have made. Therefore by investing the $500 you’ll make $5,000.'”

Work on your welcome message. “30% of onsite digital subscriptions originate from ‘welcome’ messages that provide an introduction to new readers, and ‘warn’ messages that serve as reminders as the reader approaches the meter limit,” the Shorenstein report said. They urge you to test multiple strategies to determine the most effective marketing messages. “Browser overlays and customized warnings have proven effective, particularly those that underscore meter limits for individual users and offer customized options for unique subscriptions based on the reader’s profile and viewing history.”

“Start with customer experience and work backwards to the technology,” Steve Jobs told a large audience in 1997. “You can’t start with the technology and figure out where you’re going to sell out. I’ve made this mistake maybe more than anyone else in this room… And as we have tried to come up with a strategy and a vision for Apple, it started with, ‘What incredible benefits can we give to the customer? Where can we take the customer?’ Not let’s start with sitting down with the engineers and figure out what awesome technology we have and how we’re going to market that.”

“Be willing to cut even as you add,” writes Kellman Baxter. “Many publishers are organized based on what was (and maybe no longer is) the best bundling of value for readers. For example, a regional paper might have a little world news, a little national, a little politics, and a smattering of lifestyle, sports and business. Today, [audiences] have so many choices, and the freedom to get deep expertise in the areas that matter most. If you can’t provide differentiated content worth paying for in every department, consider dropping that content.”

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January Member News

Reorg Announces Partnership With the European Leveraged Finance Association (ELFA)

Reorg, a financial media and technology company, recently announced its partnership with the European Leveraged Finance Association (ELFA). ELFA is a trade association for European leveraged finance investors, and works to establish and enhance industry best practices by promoting education as well as advocating for increased market transparency.

Kent Collier, founder and CEO of Reorg said, “We are delighted to enter into this partnership. Our reporters, analysts and legal experts, who together make up the ‘Reorg Trifecta,’ have deep expertise in the leveraged finance and distressed debt market, and we look forward to engaging with ELFA and its members to contribute to its mission of providing more transparency to the European credit market.”


BoardIQ/Ignites, Money-Media Publications, Hire Garcia as New Data Reporter

Adrian Garcia has taken on the post of data reporter at BoardIQ and Ignites at Money-Media, a Financial Times company, Talking Biz News reports. Previously, Garcia was a contributor at Marijuana Business Daily. Before that, he was at Bankrate working as a data journalist and analyst where he covered credit cards and personal finance.


SIPA Member Newsletter Assets for Sale

After being a SIPA member for several years, Monique Leahy of Wordsworth Law Publications Inc. has decided to cut back her subscription newsletter business and put her assets up for sale. She would be happy to assist with any transition. “Current law and medical writers [are] willing to work for new owner producing new content.”

These assets include:

Digital medical/law reports and companion newsletter archives. The publications provide vital medical and litigation analysis and practice materials for the risk management, attorney, physician, insurance, and related markets and have great potential for the right buyer.

Content comprises 95 reports (55+ pages each) on medical litigation topics plus top-tier expert guidance and topic-specific medical and law information. “Content has significant potential as a fold-in or new vertical.”

There is no broker involved, and the archives are being offered directly from the current owner. Reply to mleahy@wordsworthlaw.com or 212.213.0222.


BlueConic Lands $13 Million in Series B Funding

BlueConic, provider of a customer data platform, has pulled in $13 million in Series B funding, bringing its total financing to $25 million. The round was led by new investor Spring Lake Equity Partners with participation from existing backer Sigma Prime Ventures and angel investors. Dan MacKeigan, founding partner of Spring Lake, has joined the BlueConic board.

The company says it is equipped to help brands improve their marketing while complying with the California Consumer Protection Act (CCPA) and other laws.

“In an era of consumer privacy regulations like GDPR and CCPA, brands are unprepared to orchestrate individualized marketing for every stage of the customer lifecycle while also respecting individual privacy,” states BlueConic CEO and co-founder Bart Heilbron.


RIP Horace Hildreth Jr., Former CEO, Diversified Communications

Horace Augustus Hildreth Jr., “Hoddy”, died Dec. 12, 2019, at his home in Falmouth, with his family by his side. He was 87.

From the Portland Press Herald: “The family business, Diversified Communications, became a strong broadcasting and trade show company under his leadership. He became CEO in 1980, and his approach was to focus on people and strategy. With his leadership team, he built a culture of excellent business performance, good communication, treating employees well, and good corporate citizenship. He believed strongly in empowering people, and was known for the phrase, ‘Hire good people and get out of their way.'” A former Maine state senator, he had a passion for the conservation of Maine lands.


RIP Nathaniel Parsons, Former SIPA Employee

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Nat Parsons worked for SIPA when I started here in 2009. He was always in a good mood, talked gloriously about his dogs and worked hard to help SIPA.

Nat passed away late last month—he had moved to the Denver area a few years ago. I saw the announcement on Facebook accompanied by many loving tributes. This one came from Abbey Parsons:

“I can’t express how heartbroken we all are at this time. Your sense of humor was unmatched and always needed to lighten the mood during stressful situations. I knew I could always get support from you to pursue my dream of being a veterinarian from our shared love of animals. We love you so much.”


If you have any news, hirings, transactions, awards or anything else you’d like fellow members to know about, please email me at rlevine@siia.net. Thank you and happy new year!

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Starting a Podcast? Here Are Steps to Consider.

When it comes to podcasts, “don’t skimp on your own home on your site or content hub,” Chris Blose, VP of content for Imagination, told us last year in a session on what it takes to start a podcast. “Build a mobile-optimized podcast page with show notes, speaker bios and links, and relevant resources for listeners.”

(A separate tip I received is to set up a specific URL for your podcast to maximize the brand and make it easy for people to find. Spidell does this for their California Minute podcast with the url www.caltaxminute.com.)

Access Intelligence’s AdExchanger hosts two podcasts: AdExchanger Talks and The Big Story. On their site there’s an introduction—”Listen in as AdExchanger, the leading voice in ad tech, explores the evolution of data-driven digital media and marketing in a series of podcast interviews…”—followed by titles and brief summaries of all 161 episodes. (The Big Story “only” has 75.) The word “episode” denotes that it’s part of a bigger storyline and you need to come back.

Here are more of Blose’s recommendations for starting a podcast:

Make it mobile friendly. Almost 70% of people who listen to podcasts do so on their mobile phones. Almost half listen at home and about a fourth listen in their car.

Know your purpose. Blose quoted from Mitch Joel’s Six Pixels of Separation: “Podcasting is not for direct response or lead gen. It’s about social proof and showing competence in the market.”

Define your goals. “Do you have data on what audience you are trying to reach? Are you trying to demonstrate thought leadership in your field or industry? That will determine the type of guests you have. How specific will each episode be?

Find your format.

  • The free-for-all is almost all discussion with little narrative and editing.
  • The serial is narrative-drive and ongoing.
  • The high concept has an overarching theme and basic structure.
  • The hybrid mixes those forms. (NPR’s It’s Been a Minute With Sam Sanders does that.)

Consider who your host will be. I’ve heard shows with all combinations of hosts, and they do set the tone for the content to come. Maybe you have someone or two on staff who would be good. I would probably avoid the Oscars’ decision today to go host-less for a second consecutive year.

Pre-plan multiple episodes for launch. It will help you get past any pilot jitters. I also read a social media conversation about the TV show The Marvelous Mrs. Maisel, and each person talked about binging. It’s what we do now. So be ready.

Decide on the right type of guests. “The answer depends on the topic,” said Blose. “Source a podcast very much like you’d source a magazine or digital feature story. Who can speak eloquently, and who represents the issue best?”

Use a pre-interview. It can be a short call with sources before the actual recording. It’s beneficial both for reporting and for putting sources at ease. Also, it will give you a chance to test the sound if you’re doing the real interview by phone or skype.

Choose your music wisely. “Music matters,” said Blose. “Think about your audience. You can’t please everyone, but aim for something that matches the tone of the discussion.”

Leave time for editing. Never underestimate the power of editing.

Plan enough time in advance to ensure you can be placed in iTunes, GooglePlay, etc. And find out first if your organization already has accounts with them. Blose said it’s a little bit like the wild west out there now with where you can be. Even Spotify and Stitcher are possibilities.

Mention relevant old episodes in current episodes wherever possible. “To make this more likely, the host should have an updated cliff’s notes of past episodes, who was in them, what # podcast it was, and what ‘short’ URL they can send listeners to when referencing an old episode on the fly.”

Send to your existing email list, both as a preview and in ongoing form with each episode. You can even use your podcast to help build your list.

Send an email to all guests of the show once it’s live encouraging them to:

  • Share it on social (short-term traffic and listens);
  • Link to the episode URL from their blog if they have one;
  • Share on appropriate social channels multiple times since only a small percentage of audience sees any single post.

Track your performance (e.g. downloads) everywhere your podcast lives: iTunes, GooglePlay, your website, etc. How long are people listening? Are they dropping off? Studies say that 23 minutes is the point when people start to lose interest.

Ask. “Chances are good you’re performing reader research for other properties—add the podcast to the mix,” said Blose.

Include these four key elements:

  • Powerful storytelling—a phrase we hear often today;
  • A hook to re-engage—does anything today truly end? Episodic storytelling creates loyalty and engagement.
  • Industry expertise—”Your insider knowledge is critical to success,” Blose said.
  • Strong calls to action—”We need to inspire the audience to take action.
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Life Annuity Specialist’s One-Click Trial Success

The original trial sign-up page for Money-Media’s Life Annuity Specialist looked a bit intimidating. It had several boxes to fill out, a password to create, enter and re-enter, and many asterisks which usually isn’t good. Then there was a testimonial, a confirmation box, “privacy and cookie policies,” and finally the Sign Up button at the bottom. Whew!

“The marketing team noticed the structure of the trial sign-up page meant that while Life Annuity Specialist’s content was generating a lot of interest and clicks, the sign-up completion rate was low,” wrote Chelsea Bona, marketing associate at Life Annuity Specialist, in her entry that won a 2019 first-place SIPAward for Best Success Story. “The hypothesis was if prospects could get to the content quicker by filling out fewer fields, and saw a more modern-looking page they’d be more likely to trust, Life Annuity Specialist would see more trial sign-ups.”

And so a new trial sign-up page was created—a small white box over the larger homepage. The box contained 5 lines:

  • The Life Annuity Specialist logo
  • “Welcome to Life Annuity Specialist”
  • “Enjoy a free, full-access trial of all articles for 30 days”
  • [box] “confirm I have read agree to the terms and conditions”
  • A [Start Reading] button

“The team saw an immediate change, with an unprecedented 584 trial sign-ups that closed three sales from the one-click trial marketing campaign,” wrote Bona. “This marketing technique fundamentally changed how all Life Annuity Specialist campaigns have been run since. More importantly, it launched the product to more than double the number of subscribers it had at the start of the year, making the product an undeniable success.”

The subject of free trials recently came up on the SIPA Discussion ForumRob Lawson of Credit Today LLC pointed to SurveyGizmo’s trial page. They invite you to “test drive any feedback collection plan risk free. No credit card required. To test-drive SurveyGizmo, select the feedback collection solution that’s best for you (Full Access, Professional, Collaborator).” (Each has a “Start Free Trial” button.)

Jay Campbell of The Company Dime wrote that their “one-time trial is about giving [their customers] a chance to see what we can do and maybe getting them on our free email list… Once they’re getting the emails, hopefully there will be another article down the line that they’ll want to pay to access.”

Another respondent wrote that instead of free trials, “offer free webinars that require people to register. Then you have their email address and can continue to cultivate them. A free two-week trial is a great reward for those who have watched the webinar.” (SIPA has a webinar coming up next Thursday titled, How to Develop Free Webinars and Other Virtual Events that Generate Qualified Leads—and Convert Them to Paying Customers. Register here.)

Here are more reasons for Life Annuity Specialist’s success:

It reaches an underserved audience. Life Annuity Specialist was officially launched in 2018 as a full publication from the Financial Times. It’s the first business intelligence service that’s written for executives at life insurance carriers and annuity providers—an underserved group—as opposed to insurance agents

It’s designed as a one-stop source for original reporting and efficient aggregation of industry news.

The editorial team was fortified, adding a managing editor and an associate editor. “By expanding the editorial team, Life Annuity Specialist had experts who could contribute more original stories from the product manufacturer’s perspective.”

They looked at what subscribers were reading and doubled down. The editorial team monitored what was being read most and shifted the content focus to what subscribers showed most interest in, helping to increase readership.

They added new elements. Content offerings expanded to include charts and graphics, Q&As with CEOs, and webcasts, which brought brand awareness to new audiences. The first webcast alone led to 95 new trialists and partnerships with prominent insurance organizations like LIMRA.

A sales director and marketing associate were brought in.