BusinessWeek has been reinvented in the two years since Keith Fox was named president in April 2007. The magazine was redesigned that year, and its print and online sales, marketing and editorial departments were integrated. More recently, the brand has been focusing on increasing user engagement and interactivity in print as well as online.
Business Exchange, a section of BusinessWeek.com that debuted last fall, empowers “any member of the public to create, find and track relevant business topics,” Fox said. Content can come from anywhere on the Web, not just BusinessWeek.com. In the six months since its debut, about 1,500 active topics have been created on the exchange, Fox said.
“Business Exchange is probably the most interesting thing BusinessWeek is doing,” said Martha Cleary, VP-group account director at Carat.
Phone: (212) 512-2000
Traffic: 9.2 million unique monthly visitors++
Ad revenue (print): $236 million*
Ad revenue (online): $19 million
Ad rate (print): $112,200 for 1 page 4/C
Ad rate (online): $50 to $200 CPM
Comment: BusinessWeek has come on strong in transferring the brand power of its print edition to the Web, where it’s an innovator in employing user-generated content. Advertisers include business schools, such as Northwestern University’s Kellogg Graduate School of Management, and Verizon Wireless.
Frannie Danzinger, VP-media at GyroHSR, called Business Exchange an excellent example of BusinessWeek's ingenuity. “Although I don't have a client that has bought into Business Exchange yet, we have recommended it several times,” she said.
Cleary noted that BusinessWeek has a strong reputation with her clients outside the U.S. “They recognize the name and understand the value,” she said.
For Carat client Phillips' current campaign, “we wanted to get to high-level decision-makers, and BusinessWeek really works for that target audience,” Cleary said.
HSR client Pitney Bowes launched a multiplatform campaign in January that includes BusinessWeek. “The program takes advantage of BusinessWeek's Small Biz and ties in with an editorial piece they have called "Smart Answers,' ” Danzinger said. “We bought adjacencies next to that column in print and online. We've extended [the program] to an exclusive event that will be held this summer in Chicago.”
BusinessWeek has had success with a number of other multiple-platform programs, Fox said.
“For IBM [Corp.], we created the "Innovation Index,' an integrated, cross-platform program expanded around BusinessWeek's editorial franchise "The World's Most Innovative Companies,' ” he said. “In addition to print elements, we created a subchannel within BusinessWeek.com's Innovation channel, with videos and daily market performance updates of the most innovative companies by Standard & Poor's,” a sibling McGraw-Hill Cos. division.
Ted Kohnen, VP-interactive at Stein Rogan+Partners, whose clients include BusinessWeek parent McGraw-Hill, used BusinessWeek in a recent program for TransitCenter/TransitChek. “The quality of the leads among hard-to-reach C-suite executives and human resources decision-makers was very good,” he said.