Are Your Digital Editions Making Money?
The launch of the iPad has put a renewed focus on digital media applications, and early evidence suggests the impact of Apple's new product on the digital editions market will be profound. With its portability, interactivity and high-resolution color screen, the iPad seems taylor-made for magazines, and audiences have responded enthusiastically—as widely reported, the most downloaded free news app in the wake of the tablet's launch was a magazine reader.
In light of this promising development, Publishing Executive sought tips from several publishers on what drives digital-editions revenue.
Ron Matejko, Owner, MVP Media (MVPToday.com)
Phoenix-based MVP Media produces its own digital-only sports magazines and provides custom digital publishing solutions.
1. Follow the news. "Stay on top of the latest and greatest things" in digital editions, Matejko says. "Almost every other week there is some new technology coming out. … If you … [have] a good grasp of what's happening in the digital world, you should … be able to make [a] connection between what you offer and what these new technologies are going to enable you to do to monetize it."
2. Avoid the "standard … ad mentality." Be creative with digital editions ads and supplements, thinking "multimedia," Matejko says. Allow users to click through to a catalog and then to the client's website, for instance. "I've found that advertisers are not only very willing … but impressed that you can come to them with that kind of approach," he says.
3. Encourage knowledgeable salespeople. Salespeople with a passion for digital media do the best job of conveying digital possibilities, Matejko suggests.
4. Cross promote your services. Digital editions provide an opportunity for cross-promotion. MVP Media provides third-party digital services to some media partners along with custom publishing, and has created catalogs for advertisers that could be featured as part of multimedia ad packages and for clients' independent use. "We're … almost acting … like an ad agency," Matejko says.