News and Business Intelligence for B2B Media
/Excerpted from the SIIA Media Alert Newsletter of Dec. 19, 2024. Republished in BoSacks Media Intelligence™ Heard on the Web newsletter on Jan. 5, 2025
Dec. 19, 2024
Two B2B media leaders update a Q&A from seven years ago, in anticipation of their BIMS 2025 session.
By Ronn Levine
At the BIMS 2025 Pre-Conference in New Orleans on March 26, Jim Elliott, president, James G. Elliott Co., and John French, CEO, owner, French LLC, will present "The BIMS Revenue Accelerator.” While planning the session, Elliott asked French to update answers he gave in a 2017 article in the Ads and Ideas newsletter, titled “Hydrate and Never Give Up.”
Jim Elliott: How have your views changed about the importance of audience development?
John French: What I've seen change dramatically is how we view audience development. When I was running things, it always got the short end of the stick. It's where I went for another 10% cut, so I could do other projects. In retrospect that wasn't correct, and it's still not. Now it's all about smart audience engagement. A CEO recently raised an interesting point with me about this constant cry from advertisers for “more leads.” But what really matters now is quality, not quantity. Publishers need to focus on delivering real value through quality engagement, not just raw numbers. We’ll demonstrate that at BIMS.
In 2017, you said, “Treat all revenue the same. Don't run away from print or data products.” Still true?
Yes, leave print alone! I still have clients who are making good money in print. Back then, there was a danger of being labeled a dinosaur. But it's still alive. Another CEO with a big portfolio told me that his decline in print is 4.5%. That's not bad. He's still making a lot of money on it.
You spoke then about your son’s Army Ranger training. What did you learn?
Army Ranger training pushes you to your absolute limits. A Ranger buddy gave him two key pieces of advice: Stay hydrated 24/7 and never give up. I've applied these principles to business. “Hydrating” means constantly learning—going to conferences like BIMS, meeting industry peers, and getting outside your bubble. And some of my best successes looked like failures at first. When I took over Cygnus in 2009, the original owners walked away, leaving it to Goldman Sachs and GE Capital. I had to navigate the company through bankruptcy. After six years, we eventually split up the company and sold it successfully.
You mentioned fear in sales management back then. I still see managers frozen on tough decisions about their salesforce.
I used to run these revenue roundtables with B2B publishers. I’d ask them, “If you could fire your entire sales team today legally with no strings and rehire tomorrow, what percentage would you hire back?” Consistently, they’d say only about a third. “So why keep the other two-thirds?” It always came down to fear of losing big accounts or not being able to replace people. But I’ve never seen an account disappear when we changed salespeople.
In 2017 you said, “The CEO must set the course, have vision and be half a step ahead on new technology and its impact on sales.”
It's still true. The role of a CEO hasn't changed; it’s the technology that has. CEOs need to stay ahead of that curve. The smart ones understand enough to either go to the right people to get this advice or formulate revenue based on what they've learned. Good CEOs must have some type of foot in the technology arena. We'll talk more about that in the pre-conference.
Thanks John. See you in New Orleans!
John French served as President of Primedia B2B Division, and CEO of PRISM and Penton Media, then the largest B2B media company. As CEO of Cygnus, he successfully broke up and sold the company. Today, he is Senior Advisor, Oaklins DeSilva+Phillips investment bank. And, as CEO of French LLC, John advises some of the most successful companies in the B2B industry. johngfrench@frenchllc.com
Jim Elliott is President of the James G. Elliott Co., Inc., a major outsourced media and event sales company. With extensive experience leading sales teams in consumer, association and B2B media, Jim also advises media owners and top management of media organizations. j.elliott@jgeco.com