Digital magazines not only make content more accessible; they offer additional ways to generate revenue
Have the changes in digital magazine publishing created new revenue generating opportunities for you?
Those opportunities may exist for many digital publishers, even if they don’t realize it due to other priorities.
Here are five options for generating revenue that you may not have considered.
[text_ad]
How digital magazine publishing can lead to new revenue streams
Add events to your brand wheel: Many publishers are launching their own events.
Live event sponsorship creates multiple revenue stream opportunities. You can promote these events within digital magazine publishing initiatives such as your email newsletter, online press releases, social media, and search engine optimization. In addition, because live events offer the highest level of enthusiasm and fidelity in your audience, advertising rates for programs and a myriad of accessories are consequently higher than those in your magazine or website.
[text_ad]
Sell advertising sponsorships:
Positioning is key when it comes to advertising sponsorships. Advertisers want prime real estate and are willing to pay for it. Sponsorships are the most effective advertising strategy generator we know of: We call it the SEA strategy. It offers scarcity of content on your website or in your magazine; exclusivity that you offer the sponsor of entire content categories; and alignment with content related to their products.
Use listings to generate profit:
Listings are valuable because they drive website traffic. After getting the traffic to your site, providing additional content, like featured articles, will keep users coming back. A good example of generating revenue by selling listings is mediabistro.com, where roughly 1,351 listings per month at the lowest price of $239 each adds up to a healthy $3.87M.
Sell subscriptions:
Today, some publishers are using universal digital access as a selling point for both print and digital subscribers. At Mequoda, we advocate selling subscriptions to your website and/or archive as a third option, which allows you to leverage decoy or contrast pricing. Here’s how it works:
- Web magazine: $19.97
- Magazine library: $29.97
- Both products bundled: $34.97
Our research says this kind of offer drives 70% of buyers to the highest price, and also generates more orders.
Maximize sponsor revenue through leads:
Third-party advertisers aren’t just interested in mere impressions, they want users to take action. If you provide an active community, your sponsors have a great opportunity to get the ROI they expect. Forums and comment-enabled blogs are Mequoda Best Practices for this reason.
Do you have a new way to generate revenue that you’d like to share? Let us know in the comments.
This post was originally published in 2014 and has been updated.
