FolksView A monthly newsletter from the house of Folks Media Ventures October 28, 2011 V o l u me 1 , I s s u e 1 www.folksmediaventures.comMagSourcing™Redefining the rules of Editorial Process OutsourcingBusinessFolks Media Ventures through MagSourcing™ is poised to redefine the editorialprocess outsourcing business for the magazine publishers. Many of our clients arefinding MagSourcing™ not just “increasingly cost competitive” but even “qualityintensive”; all thanks to our unique business model. For more see page 3INSIDE THIS ISSUECEO’s Message Page 2Hymn for Inspiration Page 2Introducing FolksWriters™ Page 5New Appointment @ FMV Page 7
Page 2 FolksViewCEO’s MessageDear Reader,Greetings!It’s – indeed - my honor and pleasure to present forth global publishers. MagSourcing™ was a concreteyou the first issue of FolksView. effort in this regard.Folks Media Ventures, if you may know, is an It has been less than one month since we launchedupcoming media development and services enterprise MagSourcing™ and the results are vehementlywith keen competence in the areas of new media motivating; to say -the least. Our cover featurecontent as well as business development. We partner “MagSourcing™ vis-à-vis Editorial Outsourcing”with conventional media business and enable should give you a detailed view of the reason for thestrengthening their future prospects by helping them outstanding success of this model, in such a shortto take their publication(s) online. Besides, Folks span of time.Media Ventures also engages in strategic partnershipstowards developing publications for several niche You will also be introduced to our newly appointedbusiness segments at competitive propositions. Vice President for Health Care Publication Business along with FolksWriters™ - our yet another (or “toAt Folks Media Ventures, we believe that trust is built be”?) crown jewel.on commitment. We are committed to our employeesand our stakeholders. We also recognize our Until our next issue, do stay tuned and feel free tocommitments to free markets and to the global send in your suggestions and comments – they arecommunity, especially the public who use our contents truly valuable to us.for various purposes. These commitments form the With kind regards and best wishes,foundation of our business standards.Based in a remote area on the west coast of Indian U. Mahesh Prabhusubcontinent we realized – not so suddenly – that we Founder, CEO & Editor-in-chief,can offer world class editorial services at fair prices to Folks Media Ventures Hymn for Inspiration: Defeat No one is beat till he quits, Fate can slam him and bang him around, No one is through till he stops, And batter his frame till he’s sore. No matter how hard failure hits, But she can never say that he’s drown No matter how often he drops. While he bobs up serenely for more A fellow’s not down till he lies A fellow’s not dead till he dies, In the dust and refuses to rise Nor beat till no longer he tries. ~Edgar A Guest
Page 3 FolksView Behind the MagSourcing’s SuccessThrough MagSourcing™, Folks Media Ventures is all set to redefine thepropositions in media outsourcing business; specifically, for magazinepublishers. Many of our clients are finding us not just “increasingly costcompetitive” but even “quality intensive”; all thanks to our unique businessmodel.Publishing outsourcing business is becoming a like the World Wide Web and mobile devices. Of coursebillion dollar buzzword over the years; despite the this includes de rigueur services like editing, proofeconomic recession which isn’t making things any reading, graphic design and a host of other contentbetter for publishers already staring at their balance processing options which come with a scope that trulysheets – mostly marked in red. With margins being spans an end-to-end response to the problems of thesqueezed in an endless loop of falling circulations, publishing industry.merciless competition and rapidly morphingtechnology paradigms, magazine publishers around With its much vaunted and technically skilled Englishthe world are increasingly looking at MagSourcing™ speaking workforce, billable at a high benefit-cost ratio,as the silver bullet with a power to revive their India is poised to ride the publishing outsourcing wave.otherwise failing fortunes. In the palette of offerings that come with Indian Editorial Process Outsourcing package are creativeEditorial outsourcing had started off – essentially – services like page design, generation of graphics andas a near-shore outsourced operation. But with picture elements and presentations besides core servicesadvertisement and classified services already being like content creation through phone and mail interviews,delivered from cost-effective remote locations; case studies creation of reports and summaries, as welleditorial outsourcing, too, gained momentum to as research and analysis.become a remotely outsourced service. Thisphenomenon is attributed to improved off-shoring Yet, that’s just the tip of the iceberg. Some vendors havematurity of vendors, state-of-the-art infrastructure started handling an entire news bureau working at aand connectivity and innovation risk/rewards remote location, taking on end-to-end contentmodels. Riding on these trends a roadmap has generation and management, so that publishers canemerged pointing explicitly towards a huge wave of focus solely on their revenue upstream marketing andsuch editorial outsourcing towards Asian and advertising strategies. This is more so withEastern European nations. MagSourcing™ clients. [Editorial outsourcing hadA close look at the statistics for India, alone, suggeststhat publishing outsourcing market – at large - hasstacked up annual growth figures of 30 per cent withprofit margins in the range of 30 to 40 per cent. started off – essentially – as aFurthermore, the revenues from publishing off near-shore outsourced operation.shoring are slated to triple from $440 million in2006 to reach $1.46 billion in 2010. There were an But with advertisement andestimated 26,000 employees in this space in 2006 classified services already being delivered from cost-effectiveand this number is expected to grow to 74,000 by2010.Top on the outsourcing agenda for media houses are remote locations; editorialactivities like advertisement outsourcing, digitization outsourcing, too, gainedof magazines, entity/element extraction, editorialarchiving, format conversion (print to e-book/e- momentum to become amagazine, PDF, XML) and cross-compatibility and remotely outsourced service.]standardization of services across different media
Page 4 FolksViewBefore opting for MagSourcing™ for our clients, most benefits? Hence, is the outsourcing projectvendor engagement efforts were usually a meander viable?through a trial-and-err0r path (generally focusing onpilot projects); until a deal came through that turned out Answers to these decision points lead a publishingto be a “best-of-the-lot” solution rather than the best organization on a belief path as to whether it makessolution. Any successful engagement model – like that of sense to outsource or search for solutions in otherMagSourcing™ - transitions from conception until avenues; say, on a strategic or tactical front. Simulatedimplementation with a logical flow; like the following: project planning sessions and workshops can assist managers in seeking answers to these questions.Stage 1: Problem IdentificationWith MagSourcing™ we have realized that approaching [Before opting for MagSourcing™problems with a tunnel vision can hamper planning and, for our clients most vendorconsequently, implementation. A 360-degree approachto the pain point can help in identifying all the functions engagement efforts were usually aand variables that will become active during the meander through a trial-and-err0routsourcing process. Such an approach helps inanswering the following questions: path (generally focusing on pilot What is the objective of outsourcing? projects); until a deal came through that turned out to be a • • What are the business and/or operational pain points the proposed outsourcing is expected to resolve? “best-of-the-lot” solution rather • What are the functions and processes associated than the best solution.] with these pain points? • What is the business criticality of the functions Stage 3: Problem/Solution Articulation and processes? • What’s the degree of transformation required in To ensure that all prospective vendors are on the same the processes and functions? page, the principle of Occam’s razor can be put into • What will be the impact of future “ways of practice by shaving off irrelevant information while working” on internal operations and customer simultaneously communicating the publisher’s core satisfaction? requirements succinctly. It is the publisher’s • Have similar functions and processes been responsibility to ensure that potential vendors do not successfully outsourced in the past by industry get lost in a sea of information, losing valuable time peers and competitors? trying to tune in to the publisher’s requirements.Some frequently used tools and techniques which aid Streaming critical information in manageable bucketsproblem identification are benchmark comparisons, towards facilitating meaningful transfer ofprocess upgrades and SWOT analysis. These techniques information strikes the right balance betweenwill help ascertain impact of the problem and information overload and data insufficiency. Somesubsequent scale of benefits post outsourcing. basic dos and don’ts are:Stage 2: Solution Scope • Clearly describe the business objectives from editorial outsourcingStage two serves as a reality check on the problem • Summarize the current state while providingidentification stage. There are three issues at this point pointers to businesses, operations, people andof the decision-making process that would give a sense technology without dwelling on too manyof direction on the MagSourcing™ agenda: details. • Avoid recommending solutions. Rather, • What are the enablers (technology, knowledge provide high-level roadmap and direction. workers, infrastructure support) required to • Encourage vendor to participate in bring about a successful outsourcing assessment, due diligence and workshops – engagement? anything that can help to validate the solution • What would be the resource allocation (time, construct. human resources, money) required for future • Use proposed solution as indicator of vendor’s ways of working? success-ability at project commencement • Whether the total costs justify the projected
Page 5 FolksViewStage 4: Vendor Selection Stage 5: Project ManagementWith low differentiation in the range of services The goal at this stage should be to expect year-on-yearoffered, it is a challenge to choose the right fit productivity improvement. Publishers today areamong vendors. To begin with, most publishers look expected to provide “collaborative governance” to anat price as the key differentiator among vendors. outsourcing relationship. Hence defining criticalThis approach may not be the best bet for a success factors and ability to continuously steer themsuccessful long-term solution. The focus should be are important. Governance will help tackle possibleon these important issues: transition glitches at various levels – technological, cultural, knowledge transfer. • Does the vendor believe in your organizational ethos? Understand whether your outsourcing [Establishing a quick and efficient communication channels also • initiative is critical for the success of the becomes a necessary condition vendor or whether it is too small to make an impact on the latter’s business. • Evaluate the vendor’s ability to understand your problem space during the vendor selection • Validate existence of domain capabilities, process. So what’s the best process and operations excellence besides infrastructure, ability to ramp up quickly decision variable at this stage? and global footprint of the vendor. Here’s the answer: It is not the • Can the vendor bring about transformation beyond “business as usual” capabilities? price that the vendor quotes, but • Besides rewards, is the vendor willing to rather the value that is brought to share the risks? the table.]These questions don’t really come with easy answersas they can be put to a lot of subjective as well as By this stage, a working relationship has been set upobjective assessment. Each of them is, however, between the publisher and the partner. But thispertinent to the success of an outsourcing deal. Of relationship has to be transcending the buyer-sellercourse, there is another decision point, which is very matrix and moving into the realm of partnership tocritical to profitability: realize true synergies. That, truly, is the real deal. Conclusion: • Is the vendor’s offering really worth? The uncertain economic climate has driven manyFinancial engineering techniques can frame an publishers to re-assess their business operations andanswer for the last question. The costing should be consider the value of partnering with an offshore ITdone on a 360 degree platform, covering all relevant services company. Through years of experience,costs (publisher’s investment on governance, for outsourcing vendors in India have developed effectiveinstance) and revenue centers that will be impacted, processes, procedures and the skills to help publishingbesides dwelling on intangible benefits as well. companies overcome the obstacles and challenges of remaining competitive in a volatile industry that isEstablishing a quick and efficient communication constantly changing under the influence of newchannels also becomes a necessary condition during technologies and processes. Approaching an offthe vendor selection process. So what’s the best shoring partnership strategically, by looking for thedecision variable at this stage? Here’s the answer: It value the partnership will have on the bottom line, inis not the price that the vendor quotes, but rather both tangible and intangible ROI, is the key to athe value that is brought to the table. successful and profitable engagement – precisely what we do and achieve with MagSourcing™ for our ever growing numbers of our clientele.
Page 6 FolksView Introducing FolksWriters™With FolksWriters™ corporate houses get the best content developmentservices for making their organization, its products and/or services explicitas well as popular. Be it an article demonstrating their capabilities, a blogconveying genuine ideas, reviews depicting the strengths of products or abrochure; grooming contents has always been our forte.FolksWeb™ Corporate Dossiers Product BrochuresWebsites are, incontestably, public face of any Product/Services Case Studiesorganization on the internet. Given the fact that Whitepapersinternet is today amongst the most powerful medium PowerPoint Presentations– possibly, greater than the press – it has become Websitesimperative for organizations to have websites which Newslettersare not just designed well but also give the right Client Referencescontent, in the right language towards achieving the Client Proposal Templatesright impact. ROI CalculatorsFolksWeb™ has a holistic approach to achieve this Sales literature and tools we develop for our clientsobjective. Marked by thorough research, heedful play a pivotal role in their marketing campaigns. Theyquality assurance, constant analysis and relevant reinforce the brand image, and can, also, create aupdating – our content planning is foolproof and lasting impression. Good literature and tools aretherefore a solid choice for organizations of all sizes. tightly integrated with the sales process.Our skills in website content planning anddevelopment has greater impact upon the users. We FolksMarkets™ also enables our clients to evaluatefollow the following guidelines to make sure that their existing sales literature and tools, their roles,contents we deliver are optimally tuned for the right and their effectiveness. The right tools delivered atimpression: the right time improve marketing and selling effectiveness, thereby increasing revenue velocity and Analyze client’s requirements before outlining top line. suitable flow in contents. Ensure search engine friendliness of contents FolksTech™ for attracting target audiences. Reassessment and/or editing of existing Technical writing, at FolksWriters™, is considered as content and revamping if necessary. an art whose objective is to provide practical Ensuring usability standards of contents. information to end users. Technical writing is the Optimal maintenance of the live website most widely read form of written communication through engaging contents. around. It’s very different from advertising, though. In a general sense, technical writing includes the ‘howFolksMarkets™ to’ of a product. It consists of directions for operating a particular product.Successful marketers need good marketing tools alongwith solid ideas for achieving their sales target; Technical writing is arguably more difficult than otherthrough FolksMarkets™ we deliver this and much forms of writing because of the fact that it must bemore by focusing on productive results. Marketing clear and to the point. Good technical writing shouldliteratures and tools help organizations to not leave any room for imagination and it mustcommunicate as well as strengthen their message anticipate and answer any questions or problems thatthroughout the strategic marketing process. may arise. This aspect of technical writing is often seen in ‘Frequently Asked Questions’ and ‘TroubleAlso known as Marketing Communications or Shooting’.Collateral, they also include:
Page 7 FolksViewOur team has with it- not just skills, but also, exposure To say what people can’t say in the best way is whatwith experience to write, design and edit proposals, user we – at FolksCreatives™ – call Creative Writing.manuals, web pages, newsletter services and several Also, we consider creative writing as an art whichother types of professional documents. Rendering our helps our clients to put their ideas in perspective. Ourservices in technical writing makes definite sense creative writing services are best suited for:because writing technical guidelines and abouttechnical subjects is no cake walk and demands Copyrightingprofessional touch. Also, an effective technical content Brochuresrequires quality content, language format and more. Content for In-house MagazineThe following are our offerings: Corporate Blogs PR Materials Technical Documents Technical Reports The following are our domain areas where we excel in Corporate Presentations the business of creative writing: User Manuals Employee Manuals Travel & Travelogue Writing Corporate Proposals Food, also known as Culinary, WritingFolksCreatives™ Life Style & Health Entertainment Write-upsWriting, in itself, is creative to a great degree. Writers Finance Writingmust think of words to use, how to organize theirthoughts and how to appeal to an audience. However,creative writing tends to refer to writing specific types For more information contact:of things that include poetry, drama, short stories,personal essays, long and short fiction, and some non- U. Mahesh Prabhufiction. It does go beyond writing in certain formats like CEO & Editor-in-chiefjournalism or technical work, and there are sometimes Folks Media Venturesgrey areas where writing is both creative as well as email@example.com Voice: +1 217 960 4856 (USA)professional.New Appointments @ FMVPriyadarshini Pai Priyadarshini completed her undergraduate and post graduate studies from Manipal University and started offVice President (Healthcare Media Development) as a trainee researcher in reputed organizations like Biocon Ltd, India and Stem Cell Research Center, Manipal Hospital, Bangalore, India; working in key research interest areas like stem cell research, cancer biology, immunology and infectious diseases. She moved on to applying her knowledge as a research associate in Osteogenic Regenerative Medicine at KMC, Manipal. It was during this period that she realized the need for individuals to bring in high-end research for public interest in a comprehensible and applicable manner. She later joined Folks Media Ventures as the Vice President (healthcare media development) to help the healthcare clan scale new heights in the scientific horizon. As a visionary healthcare media developer, public healthcare awareness enthusiast and responsible medical scientist; she brings in loads of zeal, ideas and opportunities for transforming perspectives of public towards medical disorders, treatments and research andPriyadarshini P. Pai is an Indian medical biotechnologist, from development involved therein. Also, touching topics ofManipal. Being at the hub of medical research and ethics, rationale and philosophy in healthcare segments;development, she gathered an early impetus to pursue her she wishes to achieve better informed public anddream of improving the quality of human life. dependable healthcare professionals.
Masthead: About Folks Media Ventures Folks Media Ventures is an upcoming media development and services FolksView enterprise with keen competence in the areas of new media content as well as business development. Editors We partner with conventional media business and enable strengthening U. Mahesh Prabhu their future prospects; by helping them to take their publication(s) online. Priyadarshini P. Pai Besides, Folks Media Ventures also engages in strategic partnerships towards developing publications for several niche business segments at Advisors competitive propositions. Susheel Ladwa Dee Woo At Folks Media Ventures we believe that trust is built on commitment. We Stephen Schwartz are committed to our employees and our stakeholders. We also recognize Richard Benkin our commitments to free markets and to the global community, especially the public who use our contents for various purposes. Folks Media Ventures PO Box 6, Manipal, 576 104 Karnataka INDIA Phone: +91 820 257 0515 (India) Don’t forget to check out +1 217 960 4856 (USA) www.folksmediaventures.com E-Mail: firstname.lastname@example.orgFolks Media VenturesP.O. Box 6, Manipal, 576 104Karnataka, INDIA _____________________ _____________________ _____________________