Partner Spotlight: Steve Yaeger
Partner Spotlight: Steve Yaeger, CMO & Sr. VP of Circulation at the Star Tribune
Love, Gravity & Legacy Revenue
Star Tribune’s Steve Yaeger says the three most powerful forces in the universe are “love, gravity, and legacy revenue.” His role as Chief Marketing Officer at the Star Tribune requires him to put a special emphasis on the reality of the third.
The Star Tribune has been delivering award-winning journalism to the people of Minnesota for more than 150 years, staying profitable primarily through subscriptions to its newspaper, printed and delivered daily through rain, shine and October snowstorm.
Given the chaotic news-cycle and ongoing pandemic, Steve and his team don’t have a lot of downtime to meditate on what-ifs or nice-to-haves. Serving readers with essential public health and safety information is priority number one, and the Star Tribune’s printed newspaper remains profitable, for now. But a couple of years ago, Steve found a rare moment to ponder the future and a troublesome, looming reality became clear. “The next generation of young people won’t subscribe to print,” Steve says.
Competition for readers’ attention will only increase. Unlike in decades past, the young people of today aren’t going to hit an age where they decide, “Now that I’m an independent adult who pays taxes, I should subscribe to the newspaper.” If this is the looming reality: How will the Star Tribune remain profitable, reducing its dependency on that legacy print revenue and delivering what consumers will want in coming years?
The Star Tribune 2030 Project
“An attachment to legacy-product revenue, even though it may be declining, often prevents businesses from boldly exploring what’s needed for long-term sustainability,” says Steve. “Businesses don’t want to disrupt that dependable revenue source, or confront the reality that the market is moving away from what historically has been their bread and butter. We can’t do that.” The acceleration of new technology and digital platforms has irrevocably altered how people find and consume news, forcing longstanding media brands like the Star Tribune to confront existential questions and undergo digital transformation. And though the digital takeover isn’t happening as quickly as many predicted it would in this new millennium —the death of print has been greatly exaggerated—it’s clear that the landscape has been reshaped.
In response, Steve Yaeger and his marketing team at the Star Tribune devised one way to better understand the forces at work in consumer news consumption: The Star Tribune 2030 Project, which was co-sponsored by Steve and the company’s Editor and Senior Vice President Rene Sanchez. Think of it less like a focus group and more like a strategic two-year conversation of shared insights. Members are young professionals who represent the diverse demographic the company serves in Minnesota. Among them is Creatis Marketing/Content Specialist Seth Conover, who has found incredible value in this ongoing cohort, learning much about himself as a consumer as well as the inner workings of the journalistic process.
The 2030 Project is in part an effort to “better understand the news habits and future needs of news consumers and subscribers” and to inspire these young professionals to “advocate for the role of trusted journalism in civic life.”
By extension, the insights and takeaways from the project will help the Star Tribune understand how to reach the next generation of readers and turn them into subscribers, not just through learning about their content interests, but in better understanding their expectations around digital experiences generally. Steve evokes an old dental PSA as an analogy, “Be good to your teeth or they will leave you.” He adds, “If you are not easy to find and work with, to consume, to pay, to interact with...your customer is going away.”
"In the Key of D" Podcast Episode with Steve Yaeger — Out Monday, November 2nd 
Creatis President/CEO Kathy Hollenhorst and Steve Yaeger have known each other for several years through peer groups like their CMO Roundtable, where they’ve shared professional insights and expertise with one another. Kathy invited Steve to join our “In the Key of D” podcast to discuss how he and the Star Tribune approach digital transformation and the future of the news industry. They get into a fascinating discussion about the business model of the Star Tribune, digital marketing strategy and take a deeper dive into customer acquisition and retention. Mark your calendars for Monday, November 2nd when the episode featuring Steve will be released!
Subscribe to the podcast here.
Learn more about Steve Yaeger’s background on LinkedIn here.
If you are in need of digital and marketing support, especially during the challenging era of COVID-19, Creatis offers flexible resourcing solutions so that you can get your work done on time. Please contact our Director of Business Development, Sandi Henrikson This email address is being protected from spambots. You need JavaScript enabled to view it..
