Publishers share their top money-making strategies at a recent industry conference; it’s like a primer for publishing in the new landscape.
The mood continued to be upbeat, reports Ron Matejko in Publishing Executive Magazine, as publishers gathered at the recent City and Regional Magazine Association Annual Conference in Denver last month.
As Matejko reports, members were “cautiously optimistic that business was improving with much of the focus on new business development.”
He cited seven specific strategies that are proving profitable for the niche:
- Partnering with Nonprofits – “Nonprofits can equal big profits for publishers while providing greater reach and access to new donors for the charitable organizations. Through special issues, custom publishing, and events, publishers are developing mutually beneficial opportunities to partner with local nonprofits,” Matejko explains.
- Custom Publishing – “The publishers who are pursuing custom publishing partnerships are generating new revenue by leveraging their expertise and infrastructure as well as lower print and mailing costs,” said Matejko.
- Multi-media Marketing Services for Advertisers – By leveraging existing social and online platforms, publishers are offering their advertisers far more than the typical “value added” add-ons…and advertisers are paying for the service.
- Local Events – From small to large scale, publishers that can make the plunge to hosting events are finding new audiences and new advertising sponsors.
- Leveraging Data for Revenue Opportunities – “Personalization and getting to know your audience is key. The push is toward researching your customer base via tools like Epsilon’s Abacus data-mining, or HubSpot’s Marketing Automation based on behavioral intelligence of audience lists,” Matejko explains.
- Direct Mail – Creative, personal and very specific, the new style of direct mail is “still the most successful way to grow your subscriber base,” says Matejko.
- Ongoing Innovation – “A few examples are happy hours with people who are new to the neighborhood, to introduce the brand as soon as they join the market, hosting grand openings for developments to connect with potential new residents, and partnering with local broadcast companies to reach subscribers who love philanthropy and the arts,” he continues.
As the publishing industry as a whole revamps the way we do business, the regional and city niche continues to provide solid examples of innovative thought, fearless leadership and a shift in the paradigm.