[TRUE] Magazine Presented by: Ling Jiang, Matthew Kesthely , Chris McGean, Christine Schweitzer , WeiweiZou
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.
Key Strategic Issue [TRUE] needs to determine how to maximize their return on investment and increase revenue through innovative media alternatives.
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
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
Action Plans: Adjust the content Increase readership Enhance advertiser relationships 2 years Jul. 2013 Jul. 2016
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
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
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)
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)