Question

Topic: Strategy

Need Creative Ways To Increase Capital W/ Magazine

Posted by Anonymous on 9/3/2008 at 2:55 PM ET 150 Points
Hey gurus,

It's been a minute since the last post, but I need your help. As some of you know, I own a free to the public Christian lifestyle mag that circulates in Houston and Baton Rouge. We make all of our revenue currently through ad sales as we have no subscription price but I need to see if you guys can come up with some creative ways for me to produce more revenue for with the magazine outside of selling ad space. I need to take some of the pressure of selling ads off just to pay for overhead costs.

As an addendum, we are more of an editorial styled mag and don't want to get into a lot of that community-styled content (i.e. cutest baby pic contests, etc.). It goes against the image we're seeking to establish.

We are a lifestyle mag so I would expect to get some responses such as charging a fee for restaurants and the like to be listed on a "best places to eat in..." section or something. Just not something chincy and amateur. Think of ideas that you would suggest to Esquire or Vogue or somebody established or classy.

I have gotten some great ideas from you guys on various subjects and I know you'll do me justice on this one. Thanks!
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RESPONSES

  • Posted by Frank Hurtte on 9/3/2008 at 3:01 PM Accepted
    I suggest sponsoring lifestyle events.... as a form of double dipping.
    You provide advertising in exchange for a cut of the profit.
    Example - Christian Business Meetings, Christian Business Networking, Christian CEO meetings.

    Develop your worn lines of high end lifestyle merchandise - bumper stickers, tshirts

    Develop a form of distributing messages - you advertise inspirational CD's, DVD's and make a profit on selling, shipping and handling.
  • Posted on 9/3/2008 at 3:09 PM Author
    Thanks Frank, actually I have been extensively mulling over starting a self contained affiliate program for my mag whereing we would take in something to the effect of 30% of the total profits on items sold via our site rather than the 6 - 12% currently taken in from the more established businesses we affiliate with currently (i.e. Barnes and Noble). As far as that idea about taking a cut of the profits from Christian business meetings, etc., please expound - I'm really interested in that aspect (i.e. how to market that, what % is fair for that, would the CEO's/ company execs pay to join the meetings then I take a cut?, etc).
  • Posted by CarolBlaha on 9/3/2008 at 3:32 PM Member
    How about an online version and selling banner ads?

    What Frank is suggesting isn't true sponsorship-- but more like a trade. You provide advertising and instead of the event paying you for advertising you get a cut of the take. You can do this for concerts, etc.

    Create a non commercial statement and offer to speak at certain venues. For example, Investing for Christians? You can certainly sell listing space as you say for preferred restaurants. This is really just like ad space- only you are selling a smaller space.

    Have any schwag? An online store? Product doesn't have to be exclusive to you, but as a dealer, you buy at wholesale and sell at retail.
  • Posted by Jay Hamilton-Roth on 9/4/2008 at 9:53 AM Accepted
    Team up with regional Christian magazines, offering subscriptions as value-added for their membership lists (regional magazines pay you).

    A local magazine has offered free subscriptions to their local magazine by (bulk) mail. It's increased their costs, but they get better demographics for use in targeting their advertisers.

    If your photos are great, offer them for sale separately in larger formats.
  • Posted on 9/4/2008 at 11:06 PM Accepted
    I am thinking of different areas of a person's lifestyles which you can explore and take advantage.
    1. Lifestyle at home: You can approach furniture companies, home improvement companies, renovators, and the likes to create a story line on how to create a serenity room, or a prayer room or how to create a peaceful ambiance at home. Since their company is getting free advertisement, then they should pay you for that. Their advice would improve their credibility.

    2. Another column topic would be Lifestyle and Money: Financial advisors and financial planners, investment advisors can have a column to advice on how to maximize and save money thru donations, charity work, investment options on Christian related investments, balancing goodwill and budget, etc. This is really effective for readers to think that these advisors are really good therefore would be beneficial to increase customer base.

    3. Another column topic would be "The Christian Entrepreneur": It can feature how prayer and devotion helped them become successfull people. Subtly, these entrepreneurs are also endorsing their business.

    Those who are still aspiring, those who want to be recognized, those who want to improve their image would want to pay to write on your magazine.

  • Posted on 9/5/2008 at 9:27 AM Author
    Man, you guys never seem to let me down. Not that I ever want you to!

    Your ideas are all very creative and quite unique (to me anyway). I could just end this from now, but I want to be greedy here for a while. Keep them coming, folks! You're all great.
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