Time Inc began assigning employees who volunteers to participate in “task forces” to bring fresh ideas to drive revenue for the company. After working with CNNMoney.com in pushing them to implement Twitter and Facebook (with Twitter being the leading driver to CNNMoney.com), I was chosen to be a part of the Social Media Task Force. With weekly meetings, we would discuss and brainstorm ideas about what Time Inc could do with social media to drive many factors such as brand awareness, grow site visitation, or grow the subscription base.
The team felt it was pertinent to reach a younger generation of reader, but felt much of the material we focused on, Time, Fortune, and Money Magazines was meant for a college level or above reader. We then devised a college reporter program for Time.com. The basis was that each university would have a student chosen to be that school’s reporter for Time. Journalism schools and school newspapers could run a contest or nominate their reporter. Each school’s reporter’s contribution would be a twice weekly post for the site with links out to Facebook, Twitter, etc with strong potential for viral commenting. The program will create a revenue generation opportunity in the form of advertising sponsorships.
Tactics
- Learn about the social media landscape
- Identify lucrative opportunities for the Time Magazine brand
Results
- Present business plan to key executives
- Our idea received second place and would go into the process of going to market
Project DetailsDates: April 2010-July 2010