Magazine Money Makers
When times are tough, it pays to consider new ways of generating revenue. After attending sessions at MagazineTech 2001 in New York City recently, the following tips were suggested by successful magazine publishing professionals.
1. Digital ads: Film costs money to buy, process and print. Never mind that we live in a digital world, there are still many advertisers who are sending film, publishers who aren't requesting otherwise and standards that have yet to be established to make everyone's job easier. To get the ball rolling, communications between all parts of the publishing puzzle need to be examined. If so, digital ads will become the norm.
2. Reprints: As a kid selling lemonade, wouldn't it have been great to be able to sell the same cup to more than one customer? The same can be said for content. With electronic publishing and digitization being what it is, it's possible to make money from preexisting content. Republish it! More and more customers are requesting new forms of reprints in electronic form. If you have the content, you might as well reuse it. Think of it as recycling: everyone wins.
3. Web publishing: You can only sell so many ads in a magazine, despite what even the most successful salesperson says. But there's nothing stopping you from also developing a top-notch Web site for repurposing some of your content for revenue's sake. Web publishing enables a publisher to reach wider audiences, not to mention snag new advertisers and readers. Online content acts like teasers to print publications. Plus, with enough people driven online, in addition to magazines, advertisers may be very willing to tap into this new outlet—especially if it can also drive traffic to their own Web sites.
4. E-newsletters: We're addicted to them, whether we like it or not. E-mail has replaced the phone calls and faxes that once characterized the office place. So, while we're logged in, why not create a value-added service for readers? E-mail newsletters create the opportunity to reach a diverse cross-section of readers right on their desktops, as well as opens the door for sponsorship opportunities. It's a publishers way of giving something back, as well as getting more and faster exposure.