Time Inc's Digital Hits and Misses
“There was a lack of understanding about what it takes to build a digital brand”Since its spin off Time Inc has worked hard to convince advertisers and anyone else who would listen that it is no longer a print media business. To help drive that message the company hastily rolled out digital offerings like Mimi a beauty site and the Snug a home DIY site to try and capture that all important millennial demo. But those sites never picked up steam and so they were recently "folded" into bigger websites like InStyle and Real Simple. These sites failed because according to one observer, Time Inc didn't put salespeople on it who understood it. They couldn't drive traffic to it and there were no paid social campaigns around the launches to help build the audiences needed. Also, advertisers pretty much ignored them. The company has also launched new digital products out of its creative content studio called The Foundry like TheDrive a site for car lovers and Extra Crispy a breakfast site for foodies. TheDrive is the only one of the two that barely meets Comscore's minimum for measurement with just under 800k visits in January, a 63% collapse compared to a year earlier. These launches were an effort to compete with the big digital media companies like Vice and Buzzfeed but apparently Time Inc was going about it all wrong. New COO Jen Wong thinks she may have found the formula the company should've been using all along which is to launch new digital products around topics within its core brands because according to Ms. Wong, Time Inc's core brands already have millennials on them and they have a lot of growth left in them.
Time Inc's Digital Hits and Misses Reviewed by Editor on Wednesday, March 15, 2017 Rating: