Bloomberg Media using test to support ad and subscription business
To support Bloomberg Media’s advertising business via its subscription business and vice versa, the company’s ad operations team has begun using an A/B testing tool called ABBA, originally built in-house to support Bloomberg’s subscription business, to support the ad team’s work of optimizing its products and campaigns.
The data infrastructure tool used to identify audience segments for campaigns is now used to build segments used to market to would-be subscribers.
Product teams are also developing internal dashboards, focused on helping both groups understand the impact their products or changes will have on both lines of business.
Previously, ad product, ad tech and ad operations had operated out of Bloomberg Media’s sales group. Now, the resultant changes are due in part by the fact that the company brought these teams under chief product officer Julia Beizer, at the end of last year.
Additionally, focus on ad optimization has played a key role in the growth of Bloomberg’s subscription business, which recently launched its first marketing campaign to support its subscription product.
Bloomberg Media now has over 100,000 subscribers paying at least $40 per month, with a quarter of its subscribers are on an annual plan, which costs $475 a year for unlimited access to its content.