CASE: Kristeligt Dagblad
Reinforced circulation trough performance
Today, Kristeligt Dagblad is the fastest-growing newspaper and one of the most quoted in Denmark. The newspaper was founded in 1896 and its primary focus has since been faith, ethics and existence.
Kristeligt Dagblad wanted to introduce more efficient and detailed performance management and therefore contacted Subscrybe to build a model and process for monitoring customer movements and their derived financial impacts.
Kristeligt Dagblad wanted a tool that initially should be used to prepare budgets. They also wanted to introduce a monthly estimation process with an accompanying reporting package, so that they could keep a keen eye on the business development. Additionally, Kristeligt Dagblad wanted the model to be used as a simulation tool for making feasibility studies on new initiatives.
The solution was a customised customer-oriented financial model built in Excel. This provided the opportunity to continuously adjust the model when the business had new requirements for products or other initiatives.
The new model was created through a thorough process that involved:
- Interviews with relevant employees about the requirements for the model
- Analysis of which data set should be utilised to build and update the model
- Validation of data and structure of data sets from the subscription system
- Construction of an economic model and an accompanying reporting package
- Updating the model with historical data
- Balancing existing KPI reporting and financial reporting
- Review of the model with organisational stakeholders
- Adjustment and commission of the model and procedure for update and analysis
- Transfer to the organisation
With the new economic model, it has been possible to explain financial deviations in relation to the budget to the slightest detail. Consequently, Kristeligt Dagblad will continually know, where to concentrate their efforts in order to reach their goals. A monthly follow-up process has been integrated to ensure that action is taken in relation to the lessons learned from the follow-up.
Furthermore, Kristeligt Dagblad has requested that Subscrybe is kept close to the process, and therefore a fixed collaboration has been established. Subscrybe is currently helping with further development of the model and used as a sounding board in relation to the development and optimisation of the business.
The project and the model have given Kristeligt Dagblad confidence in the process of following the business’ movements and when to invest in new initiatives.
Commercial Director of Kristeligt Dagblad, Hans-Christian Kock, says: “Subscrybe and Claus Wamsler-Nielsen are fantastic to work with. Their excessive knowledge within subscriptions and their flair for performance management are outstanding. They easily understand our business needs and they provide solutions that create value, and which we can use on a regular basis. I highly recommend Subscrybe to all subscription businesses, whether it’s a question of subscription development or more detailed performance management reporting.”
If you would like to hear more about this case, please contact CEO Morten Suhr Hansen on tel. +45 40 29 45 34.