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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.

 

Targeted E-mail Expands Museums’ Direct Marketing Options

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While previous AccuList posts focused on direct mail strategies for our museum marketing clients, e-mail marketing is also an area where our expertise can help museums reach new members, event participants, or donors, as well as improve the performance of existing e-mail databases.

Study Museum E-mail Benchmarks and Success Stories

Evidence that e-mail can be a successful player in museums’ multi-channel campaigns comes from Constant Contact’s March 2019 e-mail statistics for house databases in the arts, culture and entertainment vertical (including museums and galleries), which show overall e-mail open rates averaging 17.54%, and click-through rates averaging 6.81% for the vertical. Those results are better than the all-industries averages of 16.74% open rate and 7.43% click-through rate, plus ahead of all but 13 of the 34 verticals tracked, and far ahead of some verticals, such as technology (e.g. web developers), automotive services, salons, retail and consulting. Marketers can also use e-mail to prospect for new members, donors and event participants. For example, marketers report success with event audience building via a series of e-mails that start with a promotion linked to ticket purchase, RSVP and/or social-sharing request, then follow up with reminders prior to the event, and finish with a post-event thanks e-mail that includes a request for an online review. Other successful e-mail series reward loyalty or re-engage dormant supporters by offering special perks (such as discounts). E-mail automation can make contact strategy even easier with programmed triggers, such as a re-engagement e-mail automatically sent six months after a last visit. For some creative inspiration, check out this nonprofit e-mail gallery and Pinterest grouping of museum e-mails.

Invest in Clean, Targeted E-mail Lists

Earning response to a house database or prospect list requires a few e-mail basics: 1) personalized, targeted messaging; 2) a brief subject line that inspires opens and engaging CAN SPAM-compliant creative content that inspires click-throughs; 3) mobile optimization of the e-mail with a clear call-to-action linked to a mobile-optimized digital landing page; and 4) an updated, clean opt-in e-mail list to avoid spam filters. As data experts, AccuList’s services especially focus on the last point. For responsive, targeted prospects, AccuList’s proprietary research has identified the top choices among opt-in e-mail rental lists (plus telemarketing and direct mail lists), including lists of museum members/donors, lists of museum mail-order buyers, and lists by type of museum and collection (download our free compilation of top list datacards). For clean, targeted house lists, AccuList points marketers toward database enhancement and hygiene, including identification of recent e-mail address changes through Electronic Change of Address (ECOA) lists, enhanced targeting by adding demographics from outside lists, and expanded e-mail reach by appending opt-in e-mails to postal records.

Pair Mobile-Optimized E-mail and Landing Pages

Every e-mail—regardless of target audience—needs a clear call-to-action linked to an online page that makes that action easy to accomplish. For fundraising e-mails, check out these best practices suggested by online fundraising software provider DonorBox: 1) include a prominent Donate Now button in the e-mail with a link to an online landing page, either one page for general donations or a page per specific project; 2) include suggested donation amounts on the landing page and tie those amounts to outcomes that show how they will improve the museum and visitors’ experiences; 3) optimize the e-mail and landing page for desktop computers, mobile phones and tablets; 4) include recurring giving options on the online page for higher donor retention; 5) if appropriate include a donation “thermometer” or other graphic of progress on the donation page to encourage more donations; 6) allow for multiple secure payment gateways, such as Apple Pay, Google Pay and PayPal in addition to credit cards; 7) and, finally, make sure the donation form and its processes are as simple, clear and quick as possible.

Combine Social Media Engagement With E-mail Targeting

E-mail can be a natural complement to social media campaigns, which is why social media networks themselves use e-mail marketing for customer retention. Museums can pair social media’s ability to engage and build brand, community and web traffic with e-mail’s advantage in delivering highly targeted and personalized messages, enhancing the power of both channels. Social media apps and forms can be used to capture new e-mail opt-in subscribers, for example. With platforms like Facebook, house e-mail data can be matched with the huge social audience to deliver demographics- and interest-targeted ads and promoted posts to existing names and lookalikes. Social media also is good at soliciting user-generated content (reviews, images, videos and posts), which can be used (with permission) in e-mails to boost response. And both social media and e-mail targets can be matched with direct mail for multi-channel power. Check out AccuList’s social media user lists, Facebook match and target options, and Digital2Direct programs combining direct mail with Facebook or e-mail lists.


Today’s Zoo Marketing Embraces Conservation, Digital

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AccuList USA helps a number of museums and zoos with marketing to members, donors and visitors. A 2017 report on the U.S. market for museums, historical sites, zoos and parks, worth $14.5 billion annually, noted that some of the most significant changes are occurring in the zoo market. Consumers’ rising concerns about conservation and ethical treatment of animals have been a driving force. As the public loses its appetite for viewing animals in cages, zoos are initiating a new stress on realistic exhibits and conservation–and their marketing is reflecting that shift.

Zoo Marketing Wins by Stressing Conservation and Natural Habitats

A recent Platform Magazine article on the new wave in zoo marketing, noted to its PR-pro readers that the winning zoo marketing strategy seems to lie in finding the middle ground between promoting conservation and creating entertainment. Many zoos do this by creating exhibits that mimic animals’ natural habitats. For example, the Woodland Park Zoo in Seattle, Washington, promotes exhibits for jaguars, penguins and grizzly bears, which have won exhibit design awards. Meanwhile, the Houston Zoo not only advertises the fact that it shares part of the money from each ticket with conservation programs but plans to build a new exhibit to showcase the Texas Wetlands, which have a large variety of animal and plant life.  The Platform article also cites Zoo Atlanta’s strategy for merging consumer experiences and conservation by promoting its contributions to the Association of Zoos and Aquariums’ Species Survival Plan (SSP) with new animals’ births that help “maintain healthy, genetically diverse and self-sustaining animal populations within North American zoos.”

Zoos Use Digital Marketing to Stretch Budgets

However, one marketing challenge for nonprofit zoos like Zoo Atlanta is stretching “our limited advertising budget,” Vice President of Marketing and Membership Tracy Lott acknowledges. And digital media investments are one way her zoo stretches those marketing resources. For zoos following Zoo Atlanta’s lead by starting or expanding a digital marketing strategy, Search Influence, a digital marketing agency, suggests five key steps to success.  Efforts need to begin with planning, with an emphasis on defining member/donor/visitor profiles for targeting. Then local prospects, loyal members and tourists can be sent the different messaging that will resonate and drive response. Next comes a polished website to showcase attention-getting content and provide a platform for sales and donations, supported by a traffic-building investment in search optimization and paid search. Third, zoos need a curated content-marketing strategy for website, social media and paid digital advertising to promote unique draws, from exhibits and events to conservation and education. Leveraging that great content then requires a targeted digital advertising strategy. Since 90% of time online is spent outside of search, mainly on Facebook, Instagram and other social platforms, one focus should be social media ads with enticing video, graphics and messaging. These ads can be targeted by interests, location, family status, buying behavior and more to boost response. These also can be tied into a multi-channel strategy that includes direct mail; for example, our Digital2Direct program serves Facebook ads to selected “matched” postal records.  Finally, to maximize ROI, marketers need analytics with defined KPIs per platform, including use of Google Analytics and Google Tag Manager to track multiple e-commerce platforms and websites.