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C-SUITES decoding mindset and the drivers of news consumption
WHY C-SUITES? ELUSIVE AUDIENCE We know c-suites consume and engage with news media but we know little about why they choose one brand over another
OPINION AND ADVOCACY As opinion leaders, c-suites play an advocacy role not only for their industry but for the brands they consume
PERCEPTION V. REALITY Are perceptions about c-suites and their news consumption reality?
METHODOLOGY
41 interviews with senior executives*
across 9 markets
New York x 5 USA
Manila x 5 PHILIPPINES
Jakarta x 5 INDONESIA
*primarily C-level individuals such as CEO, CFO & CMOs. For larger companies, senior director level and above
Fieldwork: July – August 2014
Hamburg x 5 GERMANY
x 5 SINGAPORE
Sydney x 5 AUSTRALIA
Shanghai x 2 CHINA
x 4 HONG KONG
Kuala Lumpur x 5 MALAYSIA
PIVOTAL FACTORS IN NEWS CHOICE
Factors that had little bearing
on news consumption
AGE
GEOGRAPHY
Factors that had significant bearing on news consumption
JOB FUNCTION
MARKET DEVELOPMENT LEVEL
THE INFLUENCE OF JOB FUNCTION ON NEWS CONSUMPTON
Tend to approach news looking for stories that may help them to develop strategies for the future.
Tend to approach news looking for information that that will be able to use for their work today.
Much more interested in insights and in-depth coverage that can help to give them ideas for how to approach their work
Much more interested in gathering a wealth of data in real-time that can be used to track portfolio and financial performance
FINANCE PROFESSIONALS FINANCIAL ADVISORS, CFOs, etc.
OTHER PROFESSIONALS MARKETING, SALES, OPERATIONS, etc.
Rely on 1-3 core sources of news for regular updates
FEWER NEWS SOURCES
Refer to 4 or more sources of news for a wide range of topics
MORE NEWS SOURCES
CURATED REAL TIME
TACTICAL STRATEGIC
THE INFLUENCE OF MARKET DEVELOPMENT ON NEWS CONSUMPTON
Discusses and shares insight via face to face conversations with professional circles. Rarely shares actual content.
Shares links to interesting or relevant articles and videos with colleagues, inviting them to learn more directly from the source.
Much more likely to limit themselves to a preferred media type (i.e. local newspaper or news channel) at specific times of the day
Much more likely to rely on a range of touch points on a regular basis in order to stay up-to-date on the news throughout the day.
DEVELOPED MARKETS AUSTRALIA, GERMANY, HONG KONG, SINGAPORE & USA
EMERGING MARKETS CHINA, INDONESIA, MALAYSIA & PHILIPPINES
Executives in emerging markets rely on traditional media for regular news consumption, particularly newspapers and television.
TRADITIONAL
Executives in developed markets use websites for long form news consumption. They use mobile apps for quick updates.
DIGITAL
SINGLE SCREEN MULTISCREEN
SHARING ARTICLES SHARING ANECDOTES
THE INTERPLAY BETWEEN MINDSET AND NEWS CONSUMPTION
ROUTINE
MINDSET
DEVICE CHOICE
The primary driver of news consumption
Looking for an overview on what is going on in the world. Desired information includes news on finance, politics, entertainment, etc.
EXPLORATORY
Looking to extract data points that will help them improve their role and business. Desired information includes stock exchange rates and pricing of products.
TACTICAL
Looking to identify opportunities for their role and business development. Desired information includes emerging markets and competitor activity.
STRATEGIC
NEWS CONSUMPTION MINDSETS
EXPLORATORY MINDSET
C-suites will be highly loyal, relying on their most trusted news brands for updates on what is going on in the world
C-suites are generally more open and less focussed (on specific activities) in this mindset, primarily skimming headlines for something interesting or relevant to their work. They look for breath as opposed to depth.
Most senior executives use this mindset on a regular basis, as keeping up with general news is important for any role or industry
State of Mind:
Curious & Open-minded
STRATEGIC MINDSET
C-suites will be highly loyal, relying on their most trusted news brands for strategic content
C-suites in this mindset will be highly engaged, trying to learn as much as possible about relevant topics
Non-finance professionals are more likely to approach news in this mindset, looking for stories that may help them to develop strategies for the future
State Of Mind:
Engaged & Receptive
TACTICAL MINDSET
C-suites in this mindset exhibit lower brand loyalty. They will turn to any source that has what they need, provided that the source is trustworthy
C-suites will be looking for a very specific piece of information that they need. Therefore, they will be highly engaged with relevant content
Finance professionals are more likely to have this mindset, looking for information that they will be able to use for their work today, i.e. stock and exchange rate updates
State Of Mind:
Task-driven & Time-pressed
THE ROLES OF ROUTINE AND DEVICE
ROUTINE
DEVICE CHOICE
MINDSET
MINDSET, ROUTINE AND DEVICE CHOICE
BEFORE WORK
EXPLORATORY Scanning headlines
to catch up on what is going on in the
world
STRATEGIC Reading articles to
get updates on particular markets,
industries or brands
EXPLORATORY Scanning headlines
to catch up on what happened during the
day
STRATEGIC Reading articles to
get updates on particular markets,
industries or brands
EXPLORATORY Scan the headlines
STRATEGIC Share articles with
colleagues
TACTICAL Looking for specific
updates
TACTICAL Looking for specific
updates
MID MORNING
DURING LUNCH
MID AFTERNOON
AFTER WORK A
MO
UN
T O
F N
EW
S C
ON
SUM
ED
OVER THE WEEKEND
LEVEL OF CONSUMPTION
DOMINANT MINDSETS
KEY TOUCH POINTS
Lower than usual Over the weekend, executives consume less news from fewer
sources, but with greater depth from each source.
Exploratory They are open to learning
something new, though they may concentrate on favourite topics.
TV and print They take the time to read longer
articles and watch a wider range of programs on their
favourite news channels.
DURING BUSINESS TRAVEL
LEVEL OF CONSUMPTION
DOMINANT MINDSETS
KEY TOUCH POINTS
Higher than usual With increased free time in the
mornings and evenings, they tend to catch up on more news
from a range of sources.
Exploratory and strategic
They will be open to whatever news is in front of them with a
focus on relevant industries or markets.
TV and website They will use websites to keep in touch with their favourite news
sources from home, and TV for a fresh perspective.
THE DRIVERS OF BRAND AFFINITY
BRAND AFFINITY
THE BRAND AFFINITY EQUATION
CONSISTENCY CREDIBILITY CONTENT
What brands do: consistent delivery
What brands say: facts vs opinions
How brands do it: scope of content
BRAND AFFINITY
CO
NSI
STEN
CY
CO
NSI
STEN
CY
CO
NSI
STEN
CY
CO
NSI
STEN
CY
CR
EDIB
ILIT
Y
CR
EDIB
ILIT
Y
CR
EDIB
ILIT
Y
CR
EDIB
ILIT
Y
CO
NT
ENT
CO
NT
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CO
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CO
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ENT
CONSISTENCY WITH BBC
BBC offers consistent news throughout the day, so that I can leave it on all day in my
office while I work. HEAD OF OPERATIONS,
PHILIPPINES
I think top executives prefer the BBC because it provides a global view and
very high level of journalism. DIRECTOR, GERMANY
I always watch the BBC when I travel for work. Where ever I am, I can usually count on BBC showing in my hotel.
HEAD OF IT, CHINA
BBC offers consistent quality
from all reporters for reliable coverage of news anywhere in the world
BBC delivers consistent standard of
programming throughout the day, so execs can tune in any time
BBC is consistently available everywhere that frequently traveling executives need to be
CREDIBILITY WITH BBC
I trust the quality of BBC’s content because its style is impartial. You don't get a
tremendously slanted view like you would on Fox or NBC.
SVP WEALTH MANAGEMENT, USA
It is more credible than the other news stations since it’s a state owned channel, so it isn’t associated with parties other
than the government. PRESIDENT, INDONESIA
The BBC is independent and trustworthy. It gives you an
independent look at the news. HEAD OF CONSULTANCY,
AUSTRALIA
BBC’s reputation as a public broadcasting company contributes to its reputation as a credible
brand
BBC’s style of reporting the news
is perceived as being more even and unbiased
than others
BBC’s reputation as trustworthy is
important in its establishing credibility
CONTENT WITH BBC
I prefer BBC for in-depth analysis of news. They provide
the necessary context to use the information strategically.
DIRECTOR OF IT AND TECHNOLOGY SINGAPORE
I can see more varieties of issues from BBC than other
news brands, like Bloomberg. It also provides more detailed
analysis than others. DIRECTOR HONG KONG
I used to watch CNN but its coverage is way too focused on American news. BBC has much better global coverage.
CFO AUSTRALIA
BBC reports on a wide range of topics, from politics
to business to human interest, which appeals to c-suites in the exploratory
and strategic mindsets
BBC is seen to offer a rich and interesting
content environment
BBC has truly global coverage, reporting a
relatively even spread of content from all regions
of the world
CNN, CNBC, and Bloomberg tend to report on the news in America, and the rest of the world is a bit of an add on.
CFO DISTRIBUTION, AUSTRALIA
I used to watch CNN but its coverage is way too focused on American news. BBC has much
better global coverage CFO, AUSTRALIA
I can see more varieties of issues from BBC than other
news brands, like Bloomberg. It also provides more detailed
analysis than others. DIRECTOR, HONG KONG
Country/regional focus Global perspective
Nic
he t
opic
W
ide
rang
e of
top
ics
Scope of content vs geographical coverage
CATEGORISATION OF NEWS CHANNEL DEPTH AND BREADTH OF CONTENT
THE FORMATION OF NEWS BRAND REPERTOIRE NEWS BRAND
REPERTOIRE
BRAND AFFINITY
MINDSET
NEWS BRAND REPERTOIRE
PRIMARY NEWS BRANDS Checked every day for the latest updates. A mix of local and global brands. C-suites would make an effort to not miss out any update these brands would provide that are relevant to their work. Credibility is the pre-requisite.
NEWS BRAND REPERTOIRE
SECONDARY NEWS BRANDS Referred to when looking for more in-depth information that they can’t get from their primary sources of brands. Also use on a regular basis, if not daily.
NEWS BRAND REPERTOIRE
TERTIARY NEWS BRANDS Used when searching for something they can’t find elsewhere. Tertiary brands still need to have some credibility to be trusted as a source for specific information. These brands provide information that c-suites need but are used more tactically on an occasional basis
THE BBC AS A PRIMARY OR SECONDARY BRAND The more important international business is to an individual’s job role, the more likely that BBC will be a primary brand
C-suites who use BBC as a
primary news brand have a day to day role that is
impacted by global activity.
In contrast, the day to day activities of c-suites that use BBC
as a secondary news are
inspired by global news.
WHY USE BBC AS A PRIMARY OR SECONDARY BRAND?
BBC delivers fast breaking news with context and implications to help executives take action
C-suites are thought leaders who use BBC to develop strategies for
their business
BBC delivers unbiased, factual accounts of the
news without inserting too many opinions
BBC’s in-depth analyses offer a deeper
understanding of issues than other news providers
BBC’s variety of content meets both aspirational
and work needs
REASONS FOR CHOOSING BBC OVER BUSINESS PRINT/BUSINESS TV
OFFERS SOMETHING OTHERS DON’T
INTERNATIONAL PERSPECTIVE
BBC
tv BBC
tv
TRUSTED CONTENT QUALITY
DEEP UNDERSTANDING ON ISSUES
BBC
tv BBC
tv
Source: Ledbury research
HOW NEWS BRAND AFFINITY TRANSLATES TO ADVERTISING
BBC runs mainly ads for high end products, luxury watches, high end whiskey,
etc. Aimed at the elite HEAD OF CONSULTANCY,
AUSTRALIA
Banks and investment firms advertise on the BBC, Along with established international brands DIRECTOR, GERMANY
I recall seeing ads for airlines and holiday destinations. Ads that frequent travelers
would be interested in CFO, AUSTRALIA
BBC runs more corporate and B2B ads than other
CNN. More focused towards businessmen
CEO, SINGAPORE
SUMMARY & TAKEOUT
SUMMARY
C-Suites have a distinct hierarchy of primary,
secondary and tertiary news brands that they
rely upon.
Consistency, credibility and content directly
impact the news brands C-Suites choose to
engage with.
Main driver influencing news consumption
behaviour and choice of news. Mindset was also
influenced by routine and device choice.
NEWS BRAND REPERTOIRE
MINDSET
BRAND AFFINITY
TAKEOUT
C-suites are seeking multi- dimensional news coverage
beyond breaking news and market updates. They
look for in-depth analysis and expect the news brand to cover a
wide variety of topics.
Regardless of their location or industry, a key factor
C-suites consider in their choice of primary and
secondary news brands is the ability to offer a global view of business news.
GLOBAL PERSPECTIVE
DEPTH AND BREADTH OF CONTENT
The impact of global news on their businesses is clearly seen by c-suites, therefore the credibility of a news source is paramount to these opinion leading
decision makers.
TRUSTED SOURCE
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