How TI Media is Using Data to Build Meaningful Relationships with 14 million Consumers
TI Media is the UK’s third-largest consumer magazine and digital publisher with more than 40 brands that reach 14.1 million UK adults monthly across print and digital. The company sells 117 million magazines per year and has 37 million global online users.
TI Media faced similar challenges to other consumer magazine publishers—an eventual drop in print readership and advertising revenues that couldn't be made up with online advertising. The company needed to generate more revenue from each customer that interacted with its brands in order to close this revenue gap.
But in the UK, only 20% of readers get their magazines through subscriptions, with the rest buying them at newsstands. This makes it impossible to capture customer data at the point of sale. Further, the move to digital formats means that the company’s customers consume content in myriad ways, including print, websites, digital editions, social media, video, apps, podcasts, and events, presenting further challenges for capturing customer data.
Creating a single customer view
The cornerstone of the TI Media data strategy is bringing together customer data, advertising data, content data, and online data all into one place where TI Media can analyze it faster and more easily.
TI Media chose to integrate all of its customer data into a cloud-based data lake. It implemented Talend Cloud Data Quality on a Snowflake database in Amazon Web Services (AWS). Talend enables TI Media to reduce time to onboard new data sources by 85% and shorten time to fix data quality issues by 90% —all without the help of IT. Data budgets have also been reduced by 50% in the first year, with further reductions expected.
"If we convert just one percent more of our readers coming to our websites to sales, we can gain £40 million of additional revenue. Data is the answer to drive revenues. "Lee Wilmore, Data Intelligence Director
And because the project had to be done in two months, speed was essential for TI Media. The new customer data domain has been built in just two months.
Content + context + data = results
Consumers interact with TI Media brands more than a quarter of a billion times a year. That’s over 10 meaningful interactions per second. With a holistic view of all customer data in one domain and clean customer data, TI Media can better target its customers while being GDPR compliant.
The company sends out 30 million emails per month in order to drive customers back to websites to engage with content online. Since implementing Talend, the company is executing marketing campaigns 10% faster and response rates increased by 5%. If TI Media converts just 1%more of their readers coming to their websites to sales, they can gain £40 million of additional revenue.
All of these benefits translate to reduced costs and increased revenue. The team at TI Media feel they have just scratched the surface of what the new system can provide. In addition to customer data, they are looking at how to use the data lake to improve revenues and reduce costs for other domains in the company.