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"It's not about getting a model that performs 0.5 percent better in certain use cases. It's actually about using data and AI to help our core fundamentals.”
Nino Tasca, Chief Product Officer at Northstar Travel Group, is spearheading a data transformation that's reshaping the landscape of B2B media in the travel industry. With a background that includes a decade at Google and extensive experience in media technology, Tasca brings a unique perspective to the challenges and opportunities facing B2B media companies today.
Harnessing Data for Business Growth
At Northstar Travel Group, data is not just a buzzword—it's the cornerstone of their strategy. Tasca emphasizes a 70-20-10 approach to prioritize the company's efforts in data and technology initiatives:
- 70% of resources are focused on core business needs and improving existing products
- 20% is allocated to future-oriented experimentation and innovation
- 10% is dedicated to employee skill development in AI and data
This structured approach allows Northstar to leverage data effectively while maintaining a balance between immediate business needs, innovation, and workforce development. "We're spending 70 percent of our effort focusing on this core need and how do we actually prove the value that Northstar provides through data," Tasca explains.
The company is building a comprehensive data warehouse to support its full suite of products, aiming to enhance user experiences and provide more value to advertisers. This data-first initiative is driving improvements across all aspects of the business, from event planning to digital content delivery.
Nino Tasca will be sharing his insights on data-driven strategies at RevvedUP, taking place February 25-27 at the Art Ovation Hotel in Sarasota. This exclusive event brings together C-suite executives from media, events, and marketplace industries to explore how data and AI-driven strategies can fuel enterprise growth. Tasca's experience in implementing data transformation at Northstar Travel Group will provide valuable perspectives for attendees looking to leverage data for business success in their own organizations. Learn more here.
The Role of AI in B2B Media and Events
While AI is a hot topic, Northstar's approach is pragmatic and focused on tangible results. Tasca notes, "We're experimenting with different products that can be data and AI first, more generative... integrating AI into these tools to create a better and new experience.”
Some key areas where AI is making an impact include:
1. Content optimization: AI-powered tools suggest headlines and topics based on current trends and user engagement data.
2. Personalization: Tailoring content and recommendations for individual users across Northstar's digital platforms.
3. Event planning: Using AI to match attendees with relevant sessions and networking opportunities.
However, Tasca cautions against getting caught up in AI hype. "It's not about getting a model that performs 0.5 percent better in certain use cases. It's actually about using data and AI to help our core fundamentals," he emphasizes.
Measurement and ROI in B2B Media Advertising
One of the most significant challenges—and opportunities—in B2B media is proving the value of advertising to clients. Northstar is tackling this head-on with innovative approaches to measurement and ROI tracking.
Tasca highlights the disparity in marketing spend: "Travel professionals influence as much as 45 percent of the spend of a 3 trillion market... but the marketing dollars that go into travel professionals budgets is a fraction, like 2 percent." This discrepancy underscores the potential for growth if B2B media companies can effectively demonstrate their value.
Northstar is developing multi-faceted measurement strategies:
1. Transactional data partnerships: Working with industry partners to track actual bookings resulting from advertising exposure.
2. Survey-based approaches: Similar to Brand Lift studies used in consumer advertising.
3. RFP tracking platforms: Creating tools for meeting planners to submit RFPs, allowing for direct attribution of business generated through Northstar's events and content.
"The mandate of proving the measurement as low to the bottom of the funnel as we can get remains to be true," Tasca states. This focus on concrete, revenue-based metrics is crucial for demonstrating the true value of B2B media advertising.
Lessons from Google to B2B Media
Tasca's experience at Google has provided valuable insights for his role at Northstar, but he emphasizes the need for a different approach in B2B media:
1. Faster execution: Unlike Google, who can take their time on execution given their massive revenue, B2B media companies like Northstar need to move quickly and get products to market faster. Tasca admits, "If I could start my time again at Northstar, I'd be more aggressive and try to get things done faster."
2. Focused investments: While Google can afford to make multiple bets, B2B media companies must be more strategic in their investments, focusing on core business needs. Tasca explains, "At Northstar, we don't have the ability to do that. So we have to be more mindful about how we're making investments."
3. Revenue focus: As a private equity-owned company, Northstar prioritizes revenue growth, meeting quarterly and annual objectives. This contrasts with Google's ability to prioritize getting things right over getting them fast due to its substantial revenue cushion.
New Roles and Skills for Data Transformation
As Northstar continues its data transformation journey, Tasca identifies key roles and skills needed:
1. Data scientists: To build models and derive insights from collected data.
2. UX professionals: To ensure data-driven products are user-friendly and intuitive.
3. Sales team evolution: Training existing sales teams and bringing in new talent with digital, data, and AI selling skills.
Looking Ahead
Tasca's approach, blending Silicon Valley innovation with B2B media expertise, offers valuable insights for other companies navigating similar transformations. By focusing on core business needs, embracing AI judiciously, and developing robust measurement strategies, B2B media companies can unlock new value for their clients and audiences alike.
As the industry continues to evolve, events like RevvedUP and initiatives like Revenue Room Connect provide platforms for knowledge sharing and networking among industry leaders. Tasca's involvement in these initiatives underscores the importance of collaboration and continuous learning in driving innovation in B2B media.
Northstar Travel Group's data transformation journey, led by Nino Tasca, exemplifies the potential for B2B media companies to leverage data and AI in meaningful ways. By focusing on core business needs, developing innovative measurement strategies, and adapting lessons from tech giants to the B2B context, Northstar is positioning itself at the forefront of the industry's digital evolution.
Revenue Room Connect
Revenue Room Connect, an initiative by H2K Labs, is a platform that brings together industry leaders to share knowledge and insights about data, digital, AI, and revenue strategies in the B2B media and events space. Nino Tasca's decision to join the Executive Advisory Board of Revenue Room Connect reflects his commitment to knowledge sharing and networking within the industry. As a board member, Tasca brings his unique blend of experience from both Google and traditional B2B media companies, offering valuable perspectives on data transformation and AI integration. The platform provides an opportunity for executives like Tasca to engage with other curious and innovative minds, fostering an environment of mutual learning and growth. Through initiatives like RevvedUP and Lunch Lab events, Revenue Room Connect aims to drive discussions and strategies that can help B2B media companies navigate the evolving landscape of data-driven business models and revenue acceleration.
