Reinventing the CIPD commercial model with a focus on relentless innovation
Challenge
In common with many professional associations, the CIPD has seen its commercial revenue base alter drastically in recent years, with a shift away from print and digital display advertising, a demand from industry partners for more immediate ROI and a focus on larger scale events. Against this backdrop, the CIPD wanted to ensure its funding of its media portfolio remained as low as possible, while also taking advantage of new opportunities for commercial activity that would deliver valuable content for members as well as satisfying clients.
Solution
Because the Wonderly commercial team sells right across the CIPD portfolio – encompassing live events, awards, print, digital and bespoke solutions – it can work closely with industry partners to co-create solutions with a scale, sense of innovation and focus on ROI that are truly market leading. We can also tap into the experience of the wider Haymarket Media Group, which works with some of the biggest names in business to deliver multi-channel campaigns.
Over the past three years, we have broadened the range of industry partners we work with to be more diverse than ever, looking beyond traditional areas such as software to include wellbeing, ED&I and employee engagement. Utilising our considerable industry knowledge and our relationship with the CIPD, we prioritised lead generation activity, moving beyond white papers and small scale live events to encompass webinars, immersive digital reports, dinners and other bespoke solutions. At the same time, we have transformed the CIPD events portfolio, introducing the Festival of Work, a highly immersive, two-day event attracting more than 5,000 visitors and offering a considerable uplift in sponsorship and exhibition stand revenue.
Solution
Because the Wonderly commercial team sells right across the CIPD portfolio – encompassing live events, awards, print, digital and bespoke solutions – it can work closely with industry partners to co-create solutions with a scale, sense of innovation and focus on ROI that are truly market leading. We can also tap into the experience of the wider Haymarket Media Group, which works with some of the biggest names in business to deliver multi-channel campaigns.
Over the past three years, we have broadened the range of industry partners we work with to be more diverse than ever, looking beyond traditional areas such as software to include wellbeing, ED&I and employee engagement. Utilising our considerable industry knowledge and our relationship with the CIPD, we prioritised lead generation activity, moving beyond white papers and small scale live events to encompass webinars, immersive digital reports, dinners and other bespoke solutions. At the same time, we have transformed the CIPD events portfolio, introducing the Festival of Work, a highly immersive, two-day event attracting more than 5,000 visitors and offering a considerable uplift in sponsorship and exhibition stand revenue.
Results
The CIPD portfolio is delivering impressive financial returns, has diversified its revenue base to be fit for a multi-channel future and, crucially, has delighted audiences with some genuinely engaging and useful content, from thrilling live events to engaging podcasts. Revenues from lead generation activity have more than doubled in the past five years, more than offsetting any decline in print advertising, and overall revenues across the portfolio exceeded budget by 70% in 2022.
