If there were just three things you could do today to increase your audience, revenue, and profits, what would they be?
In today’s Strategy Spotlight, Don Nicholas, Chairman & CEO of Mequoda shares a strategy for each.
It’s a sneak peek at a session titled 37 Proven Ways to Build your Internet Audience, Revenue and Profits from our upcoming Digital Revenue Summit. This event is held in Boston, in just two weeks. I hope we’ll see you there. Register now.
Quick Strategy Tip of the Day from Don
Want to know a secret? The smartest people I know in publishing don’t try to increase their audience or their revenue or their profits. That’s because you need to tackle them in order, together, not separately. Increasing your audience leads to increased revenue, which leads to increased profits. They aren’t all separate objectives, and if you try to make them that way, that’s where you’ll end up working harder, not smarter.
So my tip today isn’t how to increase your audience, or how to increase your revenue, and not even directly how to increase your profits. Instead let’s focus on how one funnel feeds the next.
Increase your audience
By increasing your audience, you are putting your brand, magazine, and products in front of more people. If you focus 100% of your time and effort on audience development, you will increase revenues by default.
Tip: If the two single things you do to increase your audience include writing search-optimized website portal posts daily and building an email list by giving away a free eBook, then you’re on the path to success. Remember, building an audience comes first in this syntax.
Increase your revenue
Once you are in front of a larger audience, you’ll improve your revenues through more timely communications. Trying to turn every one-shot visitor into an immediate buyer will give you dismal conversion rates. That’s why giving away a free product in order to build an email list is a more reliable way to improve revenues. Once you engage and build a relationship with visitors over a period of time through email, you can begin to ask them to spend money with you.
Tip: Stay in contact with your email list regularly. A daily email newsletter that shares the most recently published content on your free Portal is the best way to keep people engaged and on your list. You can include product promotions in editorial email newsletters, and segment your list to send dedicated Spotlight emails for your magazine and products.
Increase your profits
In order to increase revenue, you need to build an audience, engage that audience, and convince them to become buyers. In order to increase profits, create products that cost less to produce and distribute. This includes paid digital handbooks, or in the case of a craft magazine, these may be paid knitting patterns. You can also create a magazine library of old issues as an upsell when you sell subscriptions to your magazine.
Tip: Recycle content whenever possible. That’s the best way to not only increase revenues, but also lower expenses and boost profit margins.
Want to learn 37 ways to increase magazine circulation based on the principles above? Our session, 37 Proven Ways to Build your Internet Audience, Revenue and Profits at the Digital Revenue Summit will fill you in.
Don’t wait to register, registration closes next week.
In 37 Proven Ways to Build your Internet Audience, Revenue and Profits at the Digital Revenue Summit, you’ll learn how to use content marketing, search engine optimization, social media and content syndication to build an audience that is five or even 10 times the size of your largest paid subscription audience. Bonus: This can all be done using your existing content, so it’s like found money!
You’ll also discover at the Digital Revenue Summit how a simple Internet portal is the key to online audience development, and the myriad ways in which it can be leveraged to build a large and loyal audience. Our consulting team will take you through an exhaustive checklist of Internet proven, profitable marketing opportunities from America’s Test Kitchen and Golf Vacation Insider to Indian Country Media Network and Vida Y Salud.
Each session of the Digital Revenue Summit is suitable for use with either B2C or B2B audiences, and delivers multiple tested, proven techniques for improving your revenues. Choose one or choose them all – each one will dramatically increase your revenue, by at least 20%.
Don’t wait to register. Registration closes soon. Read through the agenda. Read the testimonials from your fellow publishers. Check your calendar. When you’re through, I’m confident you’ll be ready to register.
I’m looking forward to talking with you. Let’s chat more about your publishing business over one of the networking breakfasts, lunches or the reception that’s included with the price of your seat. Register now.
