The Right Business Model Helps Magazines Harness Industry Trends

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AccuList’s business periodical clients will face challenges and opportunities in the fast-moving currents of publishing in 2020. The good news for printed magazines: Print is not only viable but thriving in many cases, with 64% of printing industry members telling Quocirca’s Global Print 2025 study that print will remain important well into 2025. At the same time, surveys show that digital subscriptions, advertising and content are increasingly necessary drivers of the bottom line.

Publishers Invest More in Digital and Content Marketing

In fact, worldwide news publishers surveyed now say digital publishing subscriptions are their top revenue stream. Given mobile and social audience trends, publishers also say they are increasing efforts to recreate quick-loading content for any device and are using more digital content, including videos and podcasts, to drive audience development–and that includes distribution via social media networks. At the start of the year, a What’s New in Publishing post by magazine consultant Mary Hogarth suggested that the best way to navigate the challenges of digital expansion, content innovation and multi-channel audience-building is to develop a solid business model. Periodicals need a model that will  keep cash flow strong to fund reinvention, she notes, citing cash drivers such as subscription sales, pre-paid ads and advertising space series, timely payment systems and expenditure discipline. However, it’s even more important for a magazine model to focus on expanding revenue streams across print and digital channels. 

A Smart Business Model Will Expand Revenue Streams

Of course, these revenue growth efforts are where AccuList’s targeted lists and direct marketing services can be of greatest use in adding subscribers, advertisers, members or event attendees. Among Hogarth’s suggestions for boosting revenue streams:

  • Brand extensions, such as digital editions, sister publications, books, events, conferences, courses and festivals;
  • Advertising sales strategy innovations, for example selling online plus print advertising as one package;
  • Expanding sponsorships/promotions and services by facilitating strategic partnerships or third-party sponsorship of in-house events, plus selling design and content packaging services;
  • Increased copy sales via digital/print magazines on newsstands, subscription growth, in-house back issue sales, and direct sales to partners/advertisers if appropriate;
  • Memberships schemes that can help cash-flow and likely increase audience reach and reader loyalty;
  • Online content/paywalls, such as using a micro-payment system to sell additional content;
  • Product licensing, such as selling the rights to content to be re-purposed in an existing title, or licensing the brand in terms of merchandising.

See the complete article on magazine business models for more detail.

 

Industry, Marketing Trends Help Grow Printed Business Publications

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New print publishing trends and innovative marketing options offer good news for AccuList’s many business periodical clients seeking to boost subscribers and advertising.

Printed Business Magazines Are Alive & Well in the Digital Age

The growth of digital readership has not doomed all printed periodicals to declining circulation and revenues, as some predicted. In fact, a recent What’s New in Publishing article cites multiple ways print magazines are adapting for growth. For example, publishers are focusing on niche audiences willing to pay more for a higher grade product and cutting down on frequency. Consider the Harvard Business Review: It grew its subscriber base 10% by reducing print frequency from 10 issues to 6 a year and using smart positioning, creative new digital benefits, and heavier investment in the quality of the six print issues to increase audience appeal. Printed information is also seen as more reliable by readers and advertisers, according to research, creating a “halo effect” for business publishers with a print edition. “The good news for printed business magazines is that their credibility has a halo effect on their websites, too, which gives them a competitive advantage over digital-only competitors. People may be buying fewer magazines, but they still associate them with quality and reliability,” explains the publishing industry’s Dead Tree Edition blog. Plus, despite fears that younger business readers were turning mainly to digital sources and social media for information, publishers can take advantage of continued print readership popularity. For example, the Association of Magazine Media’s “Magazine Media Factbook 2018-2019″ shows that, in the United States, “the top 25 print magazines reach more adults and teens than the top 25 prime time shows.”

Business Publishers Can Leverage New Marketing Trends

New print technologies and a revival of traditional marketing tools offer business periodicals options for boosting audience and advertiser appeal. A recent article from media agency Mediaspace Solutions cites some ideas that publishers can leverage. With the digital space crowded, noisy and less trusted by potential readers, direct mail campaigns have increased in effectiveness, the post notes. Plus, many publishers have returned to sending printed newsletters to subscribers. Print technologies (QR codes, augmented reality, etc.) are not only tools for better direct mail response but also a way to attract print advertisers by boosting print advertising effectiveness, the post points out. For example, augmented print uses an application that stacks digital content over a print ad so that when the print ad is scanned by a smartphone, a new digital ad springs to life. Personalization is a must in today’s marketing, and business publishers can combine list segmentation and targeting with variable data printing to personalize direct mail campaigns for audience building. Plus, subscriber list segmentation can be offered to print advertisers to help them craft more targeted messages. For more ideas, see the Mediaspace Solutions post.

Business Periodicals Retain Digital & Print Influence

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A recent blog post from B2B marketing agency Weidert argues that trade publications remain vital to B2B marketing, which should be encouraging news for AccuList USA’s many business periodical marketing clients. Whether online or in print, trade magazines retain reputation and authority with their vertical audiences, and many people trust information from these niche publications more than any other source, says Weidert blog author Tammy Borden.

Digital Offsets Print Declines for Trade Pubs

Borden notes that while circulation and ad spending for printed magazines may have dipped, digital editions are thriving. That contention is borne out by the latest PwC ad spending forecast, which sees an upward five-year path for trade magazine ad revenues from 2018 to 2022, albeit slight at 0.6%. The overall positive trend is because digital ad growth (9.3%) will offset print losses (-8.4%). In fact, PwC predicts that the digital ad spend will overtake print spending this year.

Digital Audiences on a Growth Path

Borden cites the multiple attractions of digital trade publications for business marketers, such as a growing readership: According to the 2018 Mequoda Magazine Consumer Study, 42.4% of U.S. adults read at least one digital magazine per month — a 15% increase in three years. Plus, there are also now digital magazine marketplaces like Magzter and Zinio that allow readers to access thousands of B2B trade titles in one place, further expanding audience reach.  For content marketers, digital content in business magazines is especially appealing because it can not only link to websites but can be SEO-optimized to leverage online impact.

Printed Business Magazines Retain Clout

Despite the growth of online readership and content, Borden still touts the marketing value of printed trade periodicals. She points to a survey finding that more than 32% subscribe to one or two print magazines compared with only 18% for digital publications. Plus, the print version of a publication (like direct mail) offers a richer sensory experience (visual and tactile) and a shelf life unmatched by digital. With the option to place advertising or content in both print and digital versions of a respected business periodical, marketers can maximize audience preferences and reach.

Check out the overall PwC media advertising outlook.

2019 Marketing Creative: Simple, Bold, Interactive Design

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A new year brings new marketing creative inspirations for AccuList USA’s direct marketing clients, for both digital and printed promotions. Some interesting trends are shaping up, per graphics and ad agency experts.

Simplified Design, Bold Colors & Retro Vibes Win in 2019

The Ballantine and Brand Shouter agencies and the Digital Agency Network suggest some key digital creative trends to embrace this year, many of which can also be applied to direct mail and print advertising. This year, expect more clean, minimalist designs and less use of borders, bars and boxes to separate elements, all say. At the same time, minimalist doesn’t mean drab; more designers are forecast to embrace bright colors and bold color transitions and gradients with black or white text. And speaking of type, Brand Shouter foresees more beautiful, complimentary, brand-consistent typography as well, especially since marketers are shifting toward more text-only designs, while DAN forecasts more use of multicolored vector fonts. Plus, thanks to print technology advances, metallics will rise in popularity to pop in simplified designs, per DAN. Meanwhile, the minimalist flat look, which works well in mobile presentations, also can be livened with the inclusion of 3D elements, as Apple is doing, notes Brand Shouter. And since everything old is new again at some point, several retro trends are forecast. DAN sees use of the bold duotone graphics of the 1970s as well as vintage fonts and motifs, while Ballantine thinks the bright colors and funky designs of the 1990s and early 2000s, which remind many of today’s designers and target buyers of childhood, will reappear to leverage nostalgia. Finally, hand-drawn illustrations will be used to create that feeling of originality and authenticity, predicts DAN.

Story-telling, Video and Mobile Will Be Ubiquitous

Ballantine underscores three ubiquitous trends for creative this year. Video will only continue its impact in marketing, especially in social media, now that 54% of Internet users watch social media videos at least monthly and 65% of ad impressions on Instagram come from video ads, making video a necessary part of most creative budgets. Story-telling over selling is another general trend, especially in social media advertising, where story ads are designed to reflect a platform’s personal user experience rather than slick promotion, mimicking a post from a friend. Finally, marketing design must cater to mobile users now that 57% of online searches originate on mobile devices, almost 50% of web page views worldwide occur on mobile devices, and 95% of Americans own a cellphone and 57% own a smartphone. Any creative that is not mobile-optimized is sacrificing a huge market.

Watch for Interactivity and Diversity to Break New Ground

A Marketing Week article goes beyond colors, fonts and platforms to highlight other underlying trends likely to impact 2019 creative. For example, the rise of voice-enabled technology creates a push for sonic branding to complement visual creative across platforms, channels and media. Look for brands to begin to weave sound into interactive video, chatbots and voice recognition software. Visa, for example, spent a year working on a signature “chime,” heard whenever customers pay through their phones, to evoke a sense of security and efficiency. Meanwhile, the growing demand for diversity within organizations and their outreach to customers will push marketing creative beyond stock photos of diverse employees or graphics of multicolored hands, suggests Marketing Week. In fact, businesses can use creative development as a non-confrontational, thought-provoking, story-led effort to honestly address concerns. For example, multinational food services and facilities management firm Sodexo launched a campaign supporting its disability inclusion commitment with new creative that presented people as tennis coaches, parents and musicians, rather than focusing on their disabilities.

Check out this useful infographic that includes many of these marketing design predictions at https://venngage.com/blog/graphic-design-trends/

 

Museum Mates Social, Video and Events in New Campaign

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AccuList USA’s museum marketing clients are always looking for innovative ways to reach the target audience. A recent article in the Chicago Business Journal spotlights how the Museum of Contemporary Art (MCA) Chicago dove into innovative multi-channel marketing after 20 years without an advertising campaign.

Videos Pack Punch in 6-Second Bouts

Lauren Smallwood, MCA’s director of communications, had a story to tell about exciting changes at the museum: a new restaurant, a new artist’s exhibition, a new “social engagement space,” and a program offering event rental space. The question was how to best leverage that story to entice audience. The museum and its agency decided to harness the proven marketing power of video. They developed a series of visually-arresting 6-second videos that both grab attention and prompt curiosity about, and exploration of, the changes at MCA Chicago.

Social Media Leads Multi-Channel Outreach

The videos are to being disseminated primarily through social media channels, with no plans for more expensive TV airing. However, the social media campaign also is reinforced by digital, print and out-of-home advertising that plays on the look and feel of the high-energy video campaign, titled “Made You Look.” The museum also added two large signs to its facade, with soft yellow lights intended to serve as welcoming beacons for visitors.

Pop-up Events Seek to Entice Interest

Another first for MCA is the use of pop-up events. For example, an April weekend event in storefront space sought to engage visitors in the music, art and pop culture of 1979, a pivotal year in the career of artist Howardena Pindell, whose exhibition at MCA was being simultaneously promoted in the video-led campaign.

To read more and see the videos, go to https://www.bizjournals.com/chicago/news/2018/04/04/museum-of-contemporary-art-short-marketing-message.html

2018 Offers New Growth Opportunities for Publishing Marketers

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There’s no doubt that AccuList USA’s business and consumer publishing clients face some pivotal audience- and revenue-building challenges in both print and digital marketing, but there are also growth opportunities in 2018. We note three potential positives recently highlighted by Publishing Executive magazine.

Quality Content Over Free Content

Audiences are increasing their demand for quality content, and advertisers are seeking publishers who can deliver that quality. There is a lot of untapped revenue potential for publishers who commit to quality, especially since the free-information era is ending as readers become wary of free but low-value content and increasingly willing to pay for reliable quality. For digital publishers, the downside of a shift to paid quality content can be a shrinkage of circulation, forcing them to balance potential gains in subscription revenue against lower page-views for ads. The Publishing Executive article offers various mitigating tactics: leaky paywalls; metered paywalls; charging only for premium content; allowing only paid subscribers to comment or participate in an online community; early access to certain articles for paid subscribers; access to paywalled content for subscription to a free newsletter, etc.

It’s All About Niches

With consumer access to vast amounts of information spewing into print, online, media and social every day, mass-market-oriented print and digital publications have been struggling, and niche publishers proliferating. Readers want to focus on what’s relevant to their specific interests, and many advertisers want to reach the right pool of people more than just the largest pool of people. The trick for publications is to embrace niche demand without sacrificing too much circulation. The Publishing Executive article offers some suggestions. Digital publications can create a product-within-a-product on the website, for example, with content targeted to a subset of the normal audience and attractive to new sponsors who want to reach that specific audience. For print publications, there are niche-targeted inserts, bonus sections, customized covers, polybagged special reports, or ad packages that combine a full-page ad in the magazine with a more in-depth cover wrap or insert for a special event or audience.

Demand for Brand Safety Grows

Brand advertisers have become concerned about aligning with publishers who tolerate fake news, violence, extremism, or other offensive content. The Association of Magazine Media recognized the danger and the opportunity in 2017 and released an ad campaign (“Better. Believe it.”) to highlight magazines’ quality content and brand safety. This means that respected publishers can court advertising revenue (and circulation) in 2018 by stressing brand quality and safety in their promotions. On that point, Publishing Executive quotes from an Advertising Age piece in which Shelagh Daly Miller of AARP declared: “Only when brands partner with reputable publishers can they have full confidence in where their ads are being placed. That’s a message that should be all over our industry’s media kits. And tattooed onto the foreheads of our ad reps.”

For more on publishing growth opportunities in 2018, read http://www.pubexec.com/post/6-growth-opportunities-publishers-2018/

Survey: Mismatches in Event Marketing Channels, Attendee Interest

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Where should trade show and conference marketers go fishing for potential audience? In a multi-channel world, it can be challenging to balance online, e-mail, print and social media for best results. Now a recent survey by XING Events, as reported by MarketingProfs, shows interesting gaps between where event marketers are casting their nets and where potential attendees pool to research events.

Event Attendees Are Drawn by Word-of-Mouth & E-mail

According the the XING Events study, which is based on a global survey of 2,621 event attendees and 1,630 event organizers, event attendees most often learn about work-related events through word-of-mouth mention by friends and acquaintances (66%) and via e-mail newsletters (59%). Fewer event attendees (20%) report being influenced by ads for print and online professional publishing. Online search has more impact when the audience is already aware of the event; for example, 49% say they use online search to find details about trade shows or conferences they already have heard about (via word-of-mouth, e-mail or print). Just 22% learn about an event by doing keyword searches. However, an even smaller portion (16%) of event attendees report that they use social media to research events.

Event Marketers Focus on Websites, E-mail & Social Media

Event marketers don’t exactly mirror attendees’ preferences. About 89% of surveyed event organizers say they market their events through their own websites, culling search traffic. Some 76% say they market through e-mail newsletters, which is in line with attendee activity. The surprise is that 73% of event pros say they promote via social media even though it is not where most of the audience is currently looking for event information.  And about 47% use traditional print channels.

Event Planners Foresee Social Media Expansion

Despite its current lower usage among event attendees, social media is the marketing channel that most event marketers plan to grow in future. Some 65% of organizers say they would like to use social media more frequently in the future. The next most popular target for expanded investment is their own websites (48%) and e-mail (41%). Although “influencer marketing” is a trendy topic, only 33% of event pros plan to increase influencer or multiplicator marketing to pump word-of-mouth.

For more study results, see https://www.marketingprofs.com/charts/2017/32765/how-events-are-marketed-to-and-found-by-attendees?adref=nlt091817