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Mernit Building A Revenue Portfolio
 

Mernit Building A Revenue Portfolio

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Susan Mernit's presentation from the 2010 Media Consortium meeting in NYC.

Susan Mernit's presentation from the 2010 Media Consortium meeting in NYC.

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    Mernit Building A Revenue Portfolio Mernit Building A Revenue Portfolio Presentation Transcript

    • Building a Revenue Por0olio: New  models for a new age  Susan Mernit  Founder, Oakland Local, consultant &  web strategist  February 25, 2010 
    • Sustainability=$$  •  Non‐profit does not mean no income  •  Strategies used by non‐profit & for‐profit news  & community enLLes will look very much the  same  •  Revenue & earned income both require a  por0olio of approaches—and the knowledge  & staff to execute them 
    • Planning for $$  •  Build a revenue por0olio:  –  Sponsorships: organizaLons fund site, features,  programs  –  AdverLsing: Third‐party & you‐sell adverLsing  –  Donor/contributor program  –  FoundaLon support: GA, training programs,  reporLng  –  Other: consulLng, training, Merch, events,  research (pick one or two) 
    • $$: How do you know where to focus?  Strategy  Requirements  Risk  Model to look at  Third‐party ad  Need sales partner  O]en not very  Ode Magazine  revenue  & high traffic  lucraLve for niche  sites  Sponsorships  Need compelling  ROI must deliver  BlogHer  (across media,  offer & focused  value for sponsor  events)  salesperson  DonaLons  DonaLon  Donor pool  Texas Tribune  infrastructure  Merchandise,  Design,  MarkeLng: will they  collaterals  manufacturing  sell?  Events  Planning &  Profit or cost  BlogHer  markeLng team  center?  Training, consulLng  Something to sell  Does this align w/ Oakland Local  core mission  Crowd‐funding  Community‐funded  Right price?  Spot.us, Kickstarter 
    • MisconcepLons  •  “Our content is so good, we should just charge  for it.” FAIL=good enough is free  •  “If we can create X at a lower cost, Y will pay  us for it.” FAIL= recession killing old media  •  “We can make a lot of money if we have some  events.”  FAIL= profit margin is an issue  •  “Community foundaLons will fund us next.”  FAIL=Earned income or die 
    • RecommendaLons  •  Balance aggressive revenue strategy  development with Lght cost controls  •  Base expenses on most conservaLve  projecLons Lll new revenue streams kick in  •  Treat expenses of new revenue project as  priority but STILL manage aggressively  •  Structure new efforts so you can afford to  change cost 
    • Models to look at  •  Baristanet: Local adverLsing success in New  Jersey  •  Salon.com: Excellent moneLzaLon of niche  audience  •  Texas Tribune: Raise money from local patriots  & affluent friends  •  Oakland Local: Scrappy shoestring, high‐ quality work, community focus 
    • Resources to think about  •  Third party ad networks: Build your own with  Adify: New‐‐Sacramento Press SLOAN  •  Donor & giving campaigns: Donor Digital,  Network for Good  •  Crowd‐funded projects: Spot.us, Kickstarter,  Kachingle  •  Merchandise: Oaklandlish.com‐fund projects  with % of profits 
    • Happy to talk more  Susan Mernit  Susan@oaklandlocal.com