Working Mother Media President Carol Evans: Building a Major Brand Into a Franchise
Skodzinski: What percentage of your revenue is driven by newsstand sales, and how have your newsstand sales fared during the past two years? To what do you attribute this?
Evans: As an entrepreneur, I decided not to compete on the newsstand, and so far, Bonnier has continued this policy. We have a few thousand copies available at Barnes & Noble and Borders.
Skodzinski: What about subscription revenue?
Evans: Our subscriptions have held steady at 825,000, which is a level we feel is appropriate for a targeted magazine that is aimed at an educated, career-oriented mom.
Skodzinski: What percent of your total revenue is driven by digital (Web, e-newsletters, etc.)?
Evans: Our digital revenue is currently small, but with Bonnier's SEO and development teams working on our websites, we expect increases to ramp up soon. We will have an iPad edition of "Working Mother's 100 Best Companies" in time to celebrate the 25th anniversary of the list in October.
Skodzinski: What about event revenue?
Evans: Working Mother Media's event revenue has risen steadily over the years. This year we hosted four major conferences and 18 events, including two events in Beijing, China, in November.
Our events are b-to-b and involve more than 300 major companies sponsoring, hosting, sending employees and collaborating with us to move our mutual interests forward. We also have some fun specialty events: Next week we host our biannual event for members of Congress called "Best of Congress."
Skodzinski: Are you currently doing any virtual events (webinars or trade shows)?
Evans: We host web seminars nearly every month, but they are communication vehicles for us more than revenue drivers. Our corporate membership organization, Diversity Best Practices, offers webinars as part of our member benefits package.
Skodzinski: You also have a book out. Have you published other books or plan to? Has this contributed significantly to the bottom line?
Evans: My book "This Is How We Do it; The Working Mother's Manifesto" was published in 2006, so it's time for me to start working on my next one. The book had a tremendous impact on Working Mother Media as it gave us a different platform to express our expertise in the mom market. It also allowed me to codify my own thinking about the best solutions for working moms-personally and professionally. I am still giving speeches using the book as my core material.