Harvard Case - Media Industry: The Road Ahead for Sanmarg Hindi Language Daily
"Media Industry: The Road Ahead for Sanmarg Hindi Language Daily" Harvard business case study is written by Rituparna Basu, Neena Sondhi. It deals with the challenges in the field of Sales. The case study is 18 page(s) long and it was first published on : Dec 1, 2016
This case study solution recommends a comprehensive sales strategy for Sanmarg, focusing on digital transformation, customer-centricity, and data-driven decision making. The strategy aims to revitalize Sanmarg's revenue generation, expand its customer base, and solidify its position as a leading Hindi language daily in the digital age.
2. Background
Sanmarg, a leading Hindi language daily newspaper in India, faces a declining readership and advertising revenue due to the rise of digital media. The case study highlights the challenges of transitioning to a digital-first approach while maintaining a strong print presence. The main protagonists are the Sanmarg management team, who are tasked with developing a strategy to navigate this challenging landscape.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong brand recognition and established readership in the Hindi-speaking market.
- Experienced editorial team with a deep understanding of the target audience.
- Existing infrastructure for print production and distribution.
Weaknesses:
- Declining print readership and advertising revenue.
- Limited digital presence and engagement.
- Lack of a robust customer relationship management (CRM) system.
Opportunities:
- Growing digital media consumption in India.
- Potential for targeted advertising and content monetization.
- Expansion into new digital platforms and formats.
Threats:
- Competition from established digital news outlets.
- Changing consumer habits and media consumption patterns.
- Economic uncertainty and potential advertising budget cuts.
Porter's Five Forces Analysis:
- Threat of new entrants: High, due to the ease of setting up online news platforms.
- Bargaining power of buyers: High, as readers have numerous alternative news sources.
- Bargaining power of suppliers: Low, as content creation and distribution are relatively inexpensive.
- Threat of substitute products: High, as digital media platforms offer diverse content and formats.
- Competitive rivalry: High, with established players and emerging startups vying for market share.
4. Recommendations
1. Digital Transformation:
- Develop a comprehensive digital strategy: Invest in a robust website, mobile app, and social media presence.
- Create high-quality, engaging digital content: Focus on multimedia storytelling, interactive features, and personalized content.
- Leverage data analytics: Track website traffic, user engagement, and content performance to optimize content strategy.
- Explore new digital revenue streams: Implement paywalls, subscriptions, and targeted advertising.
2. Customer-Centric Approach:
- Enhance customer experience: Offer seamless digital access, personalized content recommendations, and interactive features.
- Build a strong online community: Engage with readers through social media, forums, and online events.
- Develop a robust CRM system: Track customer preferences, purchase history, and engagement data to personalize communication.
- Implement a customer feedback loop: Gather insights from readers to continuously improve products and services.
3. Sales and Marketing Strategy:
- Focus on digital marketing: Utilize search engine optimization (SEO), social media marketing, and targeted advertising to reach new audiences.
- Develop a strong value proposition: Highlight Sanmarg's unique brand positioning, editorial expertise, and commitment to quality journalism.
- Implement a data-driven sales approach: Utilize sales analytics to identify key customer segments, track sales pipeline performance, and optimize lead qualification.
- Invest in sales enablement: Provide sales teams with the tools, training, and resources they need to succeed.
4. Sales Process Optimization:
- Streamline the sales funnel: Identify and eliminate bottlenecks in the sales process to improve efficiency.
- Implement sales automation tools: Automate tasks such as lead generation, email marketing, and follow-up to free up sales team time.
- Develop effective closing techniques: Train sales teams on persuasive communication, objection handling, and negotiation skills.
- Track key performance indicators (KPIs): Monitor metrics such as lead conversion rates, sales cycle length, and customer retention to measure progress and identify areas for improvement.
5. Basis of Recommendations
- Core competencies and consistency with mission: The recommendations align with Sanmarg's core competencies in journalism and its mission to provide high-quality news and information to its readers.
- External customers and internal clients: The recommendations prioritize customer needs and provide sales teams with the tools and support they need to succeed.
- Competitors: The recommendations address the competitive landscape by emphasizing digital innovation, customer-centricity, and data-driven decision making.
- Attractiveness – quantitative measures: The recommendations are expected to drive revenue growth, improve customer engagement, and enhance brand value.
6. Conclusion
By embracing digital transformation, adopting a customer-centric approach, and implementing a data-driven sales strategy, Sanmarg can effectively navigate the evolving media landscape and secure its position as a leading Hindi language daily in the digital age.
7. Discussion
Alternatives not selected:
- Focusing solely on print: This would likely lead to further decline in readership and revenue.
- Acquiring a digital news platform: This could be expensive and may not align with Sanmarg's brand identity.
Risks and key assumptions:
- Rapidly changing technology: The digital landscape is constantly evolving, requiring continuous adaptation and investment.
- Consumer behavior: Predicting future consumer preferences and media consumption patterns is challenging.
- Competition: The digital media space is highly competitive, requiring a strong value proposition and effective marketing strategies.
8. Next Steps
- Develop a detailed implementation plan: Outline specific projects, timelines, and resource allocation.
- Invest in technology and infrastructure: Acquire necessary software, hardware, and digital tools.
- Train and empower sales teams: Provide training on digital marketing, sales automation, and customer relationship management.
- Monitor progress and make adjustments: Regularly review KPIs and make necessary adjustments to the strategy.
By taking these steps, Sanmarg can effectively transition to a digital-first approach, revitalize its revenue generation, and solidify its position as a leading Hindi language daily in the digital age.
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Case Description
The case presents the dilemma of Vivek Gupta, director Sanmarg pvt limited as he contemplates the road ahead for the 70 year old Hindi daily-Sanmarg. Headquartered in Kolkata and catering to the Hindi literate of west Bengal, Sanmarg also came out with state level editions from Bihar, Orissa and Jharkhand. The 16 page daily newspaper had stayed constant in its offering and only lately had come out with an on-line version. Was this consistency a strength or did the customer seek variety? Was it time to reinvent the newspaper? Or would it be easier to tap the untapped potential of neighboring states? Digital new age media and English dailies eying the language market demanded quick action. Makeover or market expansion, what was the right path for Sanmarg?
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