Charlie Magazine, based in Charleston, South Carolina, isn't asking its readers to subscribe to everything. Instead, Charlie is inviting readers to something very specific. For example, take Charlie's weekly online feature, "Get Happy Hour,"
Sometimes I just have to put the tequila aside and deliver a sobering report to the industry to offset some irrational exuberance. I do this because I love the magazine media industry, and I don't want anyone to misinterpret the facts and true conditions of our industry.
For the past two weeks, Publishers Paradox has focused on rethinking our email strategies. Thanks to a reader comment we've already addressed the fact that email is an interpersonal medium. Now it's time to rethink the opportunity to drive higher revenues with an email strategy that's people-powered.
The Paradox: Email is an interpersonal communication medium but publishers treat it like a broadcast medium.
Last week our Publisher's Paradox focused on the fact that most publishers haven't changed the content they deliver via email to reflect the changes in their audiences' content consumption behavior.
Today, few premium publishers can compete with the rest of the Internet. But being the most trusted source of news and information for each of its users, and being able to funnel to readers the content that interests and engages them—now that's something.
While the mantra of the publishing industry was once "content, content, content," today's refrain might as well be "data, data, data." Sophisticated analytics programs have provided unprecedented amounts of information about readers and their habits across different websites, providing publishers new insights and opportunities to innovate.
In the midst of the incremental collapse of our antiquated magazine distribution system, there are bright lights here and there, people who are trying out new things, bringing unexpected solutions to the marketplace.
One of them is REMAG, the program that uses coupons to create incentives for recycling magazines. REMAG's program draws together publishers, retailers, packaged goods companies, and the public through its supermarket-based kiosk locations.
The Paradox: While publishers are desperate to be more "social" they ignore their biggest "social" asset: their journalists.
Put the Social back in Social Media
In the social media world, everyone has an audience. Your journalists, your editors, your sales staff, your CEO, all have the ability to attract fans, followers and friends. In the social media world, fans, followers, and friends are all versions of a subscription. Your "subscribers" have opted-in to your status updates, shared links, photo posts, and video shares.
Reed Phillips is co-founder of DeSilva+Phillips, one of the leading M&A advisors to the media and marketing industries. DeSilva+Phillips have advised and invested in our industry on more than 250 transactions valued at over $8.5 billion.
When it comes to the publishing world, Reed is an advisor to media kings, sometimes known as publishers, and is always worth listening to.
Today, we present our media buyers and marketing executives with a plethora of options. Sure, you can still buy a print ad or a display opportunity, but we also offer video ads, placement in our podcast, social media inclusion, promotional campaigns, contests, native advertising, lead-gen campaigns...the list goes on and on.
With every new opportunity to spend money with our media brand we create a confusing landscape that doesn't necessarily drive new revenue, it just splits the pie more ways.