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Welcome to Next Steps Marketing News & Notes. This issue, paper expert Dr. Joe Webb offers advice on how to combat rising paper costs. Dr. Webb is the Director of WhatTheyThink.com’s Economic and Research Center. In this role he analyzes trends in the economy, technology and the publishing industry.
If there are any topics you’d like us to discuss, or if you need support with any of your publishing needs please contact me at 415.773.2044 or at maire@nextstepsmarketing.com
Sincerely,
Máire P. Walsh, Client Services Director
2007 Industry Calendar |
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Folio Show, September 24-26, NYC
www.folioshow.com |
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American Magazine Conference, October 28-30, Boca Ranton, FL www.magazine.org |
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Circ Day LA, October 4th, LA, CA www.circdayla.org Come see NSM team members present sessions on “Newsstand Marketing” and get “50 tips for increasing renewal and pay-up percentages”. |
Industry News
New Channel for Distribution
Magazines are now available on the iPhone including a Next Steps Marketing client MAKE Magazine. How this new channel will affect the market remains to be seen. For a demonstration http://www.youtube.com/watch?v=lN1ZVO4_Neg
Who Still Reads Magazines?
A recent article in Advertising Age focused on a research study that determined that user generated content spans all ages. “Consumers from age 13-60 said they enjoy reading magazines and indicated that they had a greater receptivity to print ads vs. web ads”.
UK Market Meltdown?
There have been big drops in men's magazines and even celebrity titles are witnessing declines in the UK market. TV advertising is a big factor in marketing efforts but efforts like this are unable to combat the decline in this market.
5 Tips to Combat Rising Paper
Costs
by Dr. Joe Webb
While online continues to grow for many media companies from 50-100% annually, most report that revenue generated from their print magazines still contributes the lion's share of overall revenue. The recent paper increases may have just eaten a little further into that bottom line but Dr. Webb presents some practical tips for reducing your paper costs.
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| 1. | Frequency- 10x a year—the new monthly! Many “monthly “ magazines come out 10x a year (sort of like red is the new black). If you reduce frequency can you offer some added value? Is there a mix of digital and hard copy that maintains and builds the brand, while creating revenue opportunities? |
| 2. | Circulation- more than enough can be too much!
Are you serving more copies than you need to be? Marginally interested recipients may make the rate base look good, but those readers and influencers may be better served in other formats. Consider digital.
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| 3. | Format: Examine the physical characteristics and dimensions of your publication. Changing size, and paper grades, may take better advantage of postal regulations, but can be an opportunity for a more viable strategic direction. The New York Times will save $10 million per year because of its recent switch in format. How much can you save with a format change? |
| 4. | Comp List: Review the copies you are sending out to your edit and advertising contacts. Classify them as A,B, and C prospects or remove them altogether. |
| 5. | Ask basic questions: What is it that we, and our audience, expect from being in print? What attracts advertisers/communicators to pay for reaching our audience? What format today, and in the future, will retain, nurture, and build that audience? Does the print version have a brand presence that develops other revenue streams? These revenues should not be considered “add-on” revenue, but as the core of the publishing enterprise, essential to coping with increasing costs of traditional media. |
The information marketplace is changing. Question everything. Leverage your paper investment as a springboard to other revenues.
Key Staff |
 Thea Selby 415.773.1841 |
 Lisa Thomas 908.479.4636 |
 Máire Walsh 415.773.2044 |
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