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True Magazine

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Analysis of "TRUE" Magazine Case

Analysis of "TRUE" Magazine Case

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  • 1. [TRUE] Magazine
     Presented by:
    Ling Jiang, Matthew Kesthely , Chris McGean, Christine Schweitzer , WeiweiZou 
  • 2. Company Overview
    [TRUE] magazine is New Brunswick’s urban alternative weekly publication. This newspaper hits stands every Thursday in greater Saint John, Fredericton and Moncton areas.
    Mission:
    To reflect & enrich the cultural & economic life of urban New Brunswick.
  • 3. Key Strategic Issue
    [TRUE] needs to determine how to maximize their return on investment and increase revenue through innovative media alternatives.
  • 4. Situational Analysis-Key Trends
    + Community newspaper
    74% readership
    + Advertising in print
    27% pay full attention
    + /- Newspaper website
    Behaviour tracking
    + /- Smartphone/Social network
    1 of 7 people own a Smartphone in N.B.
    70.4% of Canadian Facebook users are 20-45 years of age
  • 5. Situational Analysis-Key Success Factors
    Content
    Marketing
    Promotion, distribution, client relationships
    Innovation
  • 6. Situational Analysis
    Core competencies
    Niche contents
    Company structure
    Easy to communicate
    Provincial News Ltd.
    Areas of IMPROVEMENT
    Below targeted advertising revenues
    Fluctuation of pick-up rate/readership
    Target market: 20-35 years old
    Innovation
  • 7. Situational Analysis
  • 8. Situational Analysis
  • 9. Key Strategic Issue
    [TRUE] needs to determine how to maximize their return on investment and increase revenue through innovative media alternatives.
    • Time Frame: 6-8 months
    • 10. Decision Makers: Sandy, VP of PNL and Director of Sales for PNL
  • Strategic Alternatives
    1 = fair, 2 = satisfied, 3 = excellent
  • 11. Recommendation Overview
    Jul. 2011
    Jul. 2013
    Jul. 2016
  • 12. Recommendation-Maximize the Core
    Jul. 2011
    • Start: July 2011
    • 13. Time Frame: 2 years
    • 14. Financial Projection: +$350,171
    Action Plans:
    Adjust the content
    Increase readership
    Enhance advertiser relationships
    2 years
    Jul. 2013
    Jul. 2016
  • 15. Maximize the Core:1. Adjust the content
    Jul.2011
    Jul.2013
    Jul.2016
    New:
    News Contests/Surveys
    Opinion Events/Festivals
    Listings Reviews
    Profiles Music
    HumourStyle
    Movies Food
    Theatre Job Postings
    Current :
    News Contests/Surveys
    Opinion Events/Festivals
    Listings Reviews
    Profiles Music
    HumourPolitics
    Movies
    Theatre
  • 16. Maximize the Core:2. Increase Readership
    Jul.2011
    Jul.2013
    Jul.2016
    Broaden the target market (Exhibit 2)
    Industry Standard: 3.34 readers-per-copy
    Source: Statistics Canada, 2006
  • 17. Maximize the Core:2. Increase readership
    Jul.2011
    Jul.2013
    Jul.2016
    Build community relationships
    Fundraising and sponsorship
    eg. The GSJ Community Foundation
    Weekly coupons
    10% off main-course for Pumphouse Brewery
    Collaboration with CareerBeacon and Times & Transcript
    Job postings section (Exhibit 3)
  • 18. Maximize the Core:3. Enhance Advertiser Relationships
    Jul.2011
    Jul.2013
    Jul.2016
    Sales representatives
    15 - 20% Sales Commission
    Look through the eyes of advertisers
    Job-to-be-done questions (Exhibit 4)
    Long-term advertisers (HMV, H&M, Wacky Wheatley’s, etc)
  • 19. Maximize the Core:-Financial Projections
    Jul. 2011
    Increase readership: 60%
    Increase advertising revenues:
    • First year(25%): $141,349
    • 20. Second year(25%): $ 176,686
    • 21. Job postings: $20,800/year
    Sponsorship cost: $4,732/year
    Total: + $350,171 over two years
    2 years
    Jul. 2013
    Jul. 2016
  • 22. Recommendation-Create Innovative Structures
    Jul. 2011
    • Start: July 2013
    • 23. Time Frame: 3 years
    • 24. Financial Projections: +$756,000
    Action Plans:
    Adjust the website
    Facebook/Twitter
    Create smartphone application
    Jul. 2013
    3 years
    Jul. 2016
  • 25.
  • 26.
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  • 46.
  • 47. Create Innovative Structures-Smartphone Applications
    Jul.2011
    Jul.2013
    Jul.2016
    • Sponsorship
    • 48. Flash media advertising
    Your Ad Here
  • 49. Create Innovative Structures-Financial Projections
    Jul. 2011
    Increase readership: 50%
    Increase advertising revenues:
    • Facebook: $60,000/year
    • 50. Sponsorship: $75,000/phone/year
    OR
    • Flash media advertising: $84000/phone/year
    Employee cost: $60,000/year
    Total: + $756,000 for three phones over three years
    Jul. 2013
    3 years
    Jul. 2016
  • 51. Stakeholder Analysis
  • 52. Conclusion
    [TRUE] needed to determine how to maximize their return on investment and increase revenue through innovative media alternatives.
    Maximize the core:
    Time Frame: 2 years
    • Increase readership: 60%
    • 53. + $350,171
    Create innovative structures:
    Time Frame: 3 years
    • Increase readership: 50%
    • 54. + $756,000
    Total : Revenues of more than $1.5 million within 5 years

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