With print-dollars declining for many, and “digital dimes” not necessarily filling in gaps left by the recession and shifts in marketing spend, it is quickly becoming an era of reinvention. Magazine-centric brands are expanding on strong foundations established by print roots and coming up with new ideas to serve their audiences while generating new revenue streams.
Publishing Executive spoke with executives whose companies have launched new products and services to boost the bottom line while building on the relationships with their customers—both target audiences and advertising clients. Here are 20 of their successful revenue-generating ideas:
Dwell Media’s website explains that “Through a rapidly expanding offering of media platforms, Dwell inspires its community with smart and thoughtful ideas for modern living.”
2. Sell your expertise as data/forecasting services.
“… We set out 10 years ago to function almost as a research company. … One of the things we wanted to launch in 2010 was the Dwell Insights Group, which is … a forecasting company, a division of Dwell run by David Cobb, all for the purpose of backing this [research project], ‘New Face of Affluence,’ [an examination of the buying habits of affluent consumers], which we studied in March 2010 and restudied in March 2011 to look at brand affinity and admiration, and values and reasons to purchase and why. And now we actually have a whole consulting piece of that group with several Fortune 500 clients.
The point being that because the internal discipline of the company was continually serving and researching and understanding in every way possible this community that we serve, … it really piqued our interest, and that’s why we’re also now consulting to other major brands. There are 10 that we’re doing special brand value scorecards for, which is a product we’ve developed.
… It’s been phenomenal to take an internal discipline and turn that into a profit-making platform.”
3. Take your “publication” regional and on tour, and partner with regional publications.
“[Another of our platforms is] … the home tours that we … have been doing for years in Los Angeles. They are now in Marin County, and we will be announcing three additional cities. Each of those comes with a mini magazine—not only about the homes, but about the area and community, Marin County, Los Angeles, East and West, etc. In L.A., we do not have a publishing partner. In Marin, Marin Magazine is our partner. We’re talking now to partners in the cities, so we’re considering [options] for our 2012 tour. …Our publishing partner will put our mini-magazine in their local magazine. So in San Diego, it might be San Diego Home and Design. We have such a successful partnership with Marin Magazine, so we’re looking to replicate that.”