Know-How Exchange : Strategy

OK, this is a brainstorming question. Don't worry, a lot of thought has already been put into this, so I'm not looking for basics, but I am looking for original ideas from people that are far more experienced that I! Perhaps someone out there can spot another opportunity?

Task
Marketing Magazine is Haymarkets flagship marketing title for professional marketers.
40,000 of its circulation is controlled (free), 4,200 paid subscriptions and 2,300 newstrade.
Its major competitor is Marketing Week but also competes with websites that offer marketing news.

Objectives
To increase Paid subscriptions to 4,500 with total revenue of £380,000 in 2005
To increase the renewal rate to 60% by the end of 2005

Task
1.You have £50,000 budget, how would you spend the budget in order to meet the above objectives?

Useful information

Þ The subscription full rate is £119
Þ As part of your paid subscription a subscriber also has free access to Brand Republic the online marketing information service from Haymarket. It combines the content from leading business titles, as well as dedicated editorial team to provide the marketing industry with business intelligence and essential information.
Þ Brand Republic is worth £110
Þ Marketing Paid renewals are 55%
Þ Haymarket publishes a wide range of business and consumer titles, ranging from PR, management, marketing and public sector

I think that tells you everything you need to know.

This is a favour for a friend who does not have internet access but does have an interview, of which this is the task. As I said, the basic ideas have already been thought out, such as 3 months free, free trials of sister mags, direct marketing emphasising BR value etc, all maths worked out. So it's not cheating, but just bouncing ideas around...

Thanks