In today’s media marketplace, media companies are challenged to find new ways to stand out to attract advertisers and audiences in an environment crowded with content and ads from social media, influencers and ad tech platforms.
But B2B media companies are doing just that by developing valuable content, first-party data and diverse product offerings.
For the latest edition of AAM Media Matters, Tony Silber, managing director of B2B media organization SIIA, shares findings from his group’s B2B Media Benchmark Report 2024 including how companies have adapted to industry changes, revenue trends and an outlook for the industry.
Seventy-three percent of respondents said they expected revenue to increase this year.
“Several respondents said they expect substantial growth, which was more bullish than I anticipated,” he said. “But on the other hand, this doesn’t surprise me since B2B media is well insulated from competition and threats of disruption.”
B2B media have become resilient because of their diverse offerings in digital advertising, lead generation and events. "These companies have effectively built a moat around their businesses."
Silber discussed key revenue drivers.
“Digital advertising remains strong, but event revenue is also increasing,” Silber said. “Events bounced back from the pandemic and then some.”
Print advertising continues to be relevant with 24% of respondents citing print as a top source of revenue, which was nearly the same percentage as last year.
“Print advertising has held its own. As long as print’s making money, companies will produce it.”
As signal loss continues, B2B companies are uniquely positioned to offer advertisers targeted audiences through first-party data.
“B2B media have done a good job of building their own first-party data to offer advertisers rich information from which they can segment their audiences,” Silber said. “Because of this, digital advertising can now be used as a source for lead generation.”
Many respondents said it's too soon to tell what the long-term impact of artificial intelligence will be on their businesses.
“In the near term, I think it’s almost universal that people are using AI to improve efficiency,” said Silber, adding that many companies are using AI for content creation, data and research, and business analytics. “I expect by the first quarter of next year, we’ll have a better sense of what the impact of AI might be on revenue.”
There are many opportunities for B2B media companies to stand out.
“Quality content is the price of entry,” Silber said. “But there are other variables including the strength of the brand, positioning and the ability to develop first-party data."
Companies can also differentiate themselves through the types of products available and their ability to scale those products to provide greater value.
“A company might look at their events and develop intelligence about the attendees, whether they subscribe to the print magazine or email newsletters, and how much they engage with content. It’s about creating quality content and then doing something tangible with it.”
While the industry has changed dramatically over the last few decades, one guiding principle for B2B media is to serve audiences quality information that helps them do their jobs.
“Whether you provide research, trends, news or events, the more of those things you can provide to become the single source of information in your market, the stronger you are.”