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A Market Diversification and Expansion Lesson from eMagazines
There comes a time in a company’s life when it can expand across markets and generate sustainable, profitable growth for its stakeholders and clients. Entrepreneurs and CEOs tend to overlook this rite of passage because they think that it is too ambitious or they fail to see how their model can apply to different sectors. SanjeevAhuja, CEO of eMagazines, is boldly taking the company to the next step and gives us a peek at the process.
eMagazines provides critical tracking and analytics of marketing effectiveness, primarily for consumer publishing giants like Bonnier Corp (Popular Science), Future PLC (MacLife, PC Gamer), and IPC Media (Woman & Home, Golf Monthly) to name just a few. eMagazines has built a global platform, with seven of the top 10 publishers in the United States and four of the top 10 publishers in Europe using the software. Recently, Sanjeev noticed that multi-level marketing organizations, companies with large distributed sales forces, universities, and professional and social associations like AARP and AAA began expressing interest in deploying eMagazines’ software to fit their industries - and thus diversification was born.
Prior to expanding across markets, eMagazines established important relationships with Adobe and other digital production platforms to foster the company’s growth. Overall, from tracking and analyzing the effectiveness of marketing efforts, to using the software to deploy tactics, to optimizing their media, and more, eMagazines can help marketers get the biggest bang for their marketing bucks and help membership organizations save $4 to $5 per subscribed member — that is where eMagazines provides value to its clients.
Think of a publication like AARP that has 47 million readers. If only 10 percent of readers opt out of the print edition and read the magazine digitally, that is more than 4.7 million readers using the tablet edition. AARP can easily and instantly save millions of dollars in fulfillment costs. Operators in several other industries and countries have been approaching eMagazines to become resellers of the company’s software to their own clients, too, with the company in the process of setting up partnerships in the UK, Netherlands and the U.S.
Sanjeev says that eMagazines’ success can be attributed at least in part to its configurable product and end-to-end solution spanning analytics, enablement, and optimization. At its core, eMagazines is a sales and marketing effectiveness product, aimed at helping enterprises run smarter marketing and sales.
Knowing when the time is right to expand your market base takes awareness, constant testing, and a little luck, says Sanjeev. Being aware, active and lucky creates opportunities for eMagazines in the healthcare, pharmaceutical, financial services, and insurance industries. eMagazines is keeping up by developing more robust enablement features, customizing dashboards based on industry, and more. “Ultimately, the product needs to be of value for each individual vertical industry and provide solutions for each of their unique sales and marketing effectiveness challenges,” says Sanjeev.
Internally, eMagazines is investing in expanding its sales and engineering team and also sharpening its marketing efforts by targeting large companies in different vertical industries. It’s an exciting time for this Chicago-based mobile analytics company as it leads the way in providing enterprises with the insight they need to make mobile an integral part of their go-to-market strategy.
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