INMA launches Smart Data Initiative

Focuses on five key areas

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INMA
Photo: Burst on Unsplash

The International News Media Association (INMA) recently announced the launch of a premium initiative for members and the news industry aimed at sharing insights and best practices on creating value with data analytics for media companies and incorporating a data-positive culture.

The Smart Data Initiative is the third subject matter deep-dive endeavor by INMA after its popular 2-year-old Readers First Initiative and recently launched Product Initiative. Combined, the three INMA initiatives are designed to elevate the transformative intersection of subscriptions, data, and product at media companies.

The new data-focused initiative aims to focus on five key areas:

Tying data to business strategy: Data plays a critical role in accelerating digital transformation of news media. INMA surfaces the best ways to align data initiatives to editorial and business objectives and will build a business case for the investment in data infrastructure and partnerships.

Practical applications: Armed with data insights and through rigorous experimentation, news media companies aspire to engage audiences better, grow reader revenue, and reinvent advertising in the post-third-party cookie era. INMA will bring all data-focused best practices and benchmarks to bear.

Data fundamentals: New tech and data infrastructure is becoming a backbone for digital publishing. Understand the technology stack required to enable monetization. Learn how to register and log in your audiences to unlock the value.

Advances in data analytics: Thanks to machine learning and AI, media companies learn more about customers and their journeys, predict behaviors, and segment them to better fit their products, services, and their marketing mix. The Smart Data Initiative will unleash the potential of new methods and technologies.

Data-positive culture: As media companies reset their internal cultures around engagement, they democratize the use of data for decision-making and make it central to their day-to-day work. Share ideas and inspire change at your organization through this new initiative.

The Smart Data Initiative will have at least six deliverables for INMA members: a bi-weekly newsletter, a slack channel for data enthusiasts, bi-monthly meet-ups, reports, and a master class and summit for richer learnings.

Heading the Smart Data Initiative for INMA is Grzegorz (Greg) Piechota, the association’s researcher-in-residence. Former senior researcher at Harvard and Oxford universities, he started his career in journalism and led the newsroom of Gazeta Wyborcza in Poland. The book he wrote with Professor Thales Teixeira, Unlocking the Customer Value Chain, was recognized the Best Marketing Book of 2019 by Strategy+Business magazine. Piechota also heads INMA’s Readers First Initiative.

The Smart Data Initiative aspires to provide a blueprint for revolutionizing publishers’ value propositions, operating and monetization models while maintaining their missions and values,” said Earl J. Wilkinson, executive director, and chief executive officer of INMA. “We aim to transform the online news business and make journalism sustainable by helping publishers analyze and act on data in new and creative ways.”

The International News Media Association (INMA) is a global community of market-leading news media companies reinventing how they engage audiences and grow revenue in a multi-platform environment. The INMA community consists of more than 16,000 members at 850 media companies in 73 countries. INMA is the news media industry’s foremost ideas-sharing network with members connected via conferences, reports, webinars, virtual meetings, unparalleled archive of best practices, and initiatives dedicated to digital subscriptions, product, and data.

The Covid-19 pandemic led to the country-wide lockdown on 25 March 2020. It will be two years tomorrow as I write this. What have we learned in this time? Maybe the meaning of resilience since small companies like us have had to rely on our resources and the forbearance of our employees as we have struggled to produce our trade platforms.

The print and packaging industries have been fortunate, although the commercial printing industry is still to recover. We have learned more about the digital transformation that affects commercial printing and packaging. Ultimately digital will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future.

Web analytics show that we now have readership in North America and Europe amongst the 90 countries where our five platforms reach. Our traffic which more than doubled in 2020, has at times gone up by another 50% in 2021. And advertising which had fallen to pieces in 2020 and 2021, has started its return since January 2022.

As the economy approaches real growth with unevenness and shortages a given, we are looking forward to the PrintPack India exhibition in Greater Noida. We are again appointed to produce the Show Daily on all five days of the show from 26 to 30 May 2022.

It is the right time to support our high-impact reporting and authoritative and technical information with some of the best correspondents in the industry. Readers can power Indian Printer and Publisher’s balanced industry journalism and help sustain us by subscribing.

– Naresh Khanna

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