5 easy ways to grow your online revenue! (and other get rich quick schemes)

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Presentation delivered for Magazines Canada Web Weekend workshops across Canada in 2008. Toronto, Calgary, Halifax, and Vancouver.

Business News & Politics

5 easy ways to grow your online revenue!
(and other get rich quick schemes)

Presented by Phillip Smith
Web Weekend, Nov 24th
www.communitybandwidth.ca

The cost of doing business on the Web is
INCREASING

Magazine publishers are asking
“WHAT IS AT THE END OF THE RAINBOW?”

Some days, it would be easier to just
pretend this “Web” thing DIDN’T EXIST

The reality is that the Web has done more
for magazines than the printing press

5 easy ways to grow your online revenue!
(and other get rich quick schemes)

1. Slow and steady wins the day

2. The realities haven’t changed that much

3. Simple strategies are sustainable strategies

… by figuring out what numbers are important

… by experimenting, and then let the results
speak for themselves

… by creating regular reports
on actionable information

Strategy #3: Focus on GOALS and
CONVERSIONS

… because all sites have goals (so track them!)

… because everything is measurable online

… ultimately, it’s the conversions that count

… because the online ad industry is
consolidating

… because the real-life numbers are
surprisingly low

Available inventory 100,000 views / impressions

Divided by 1000 (CPM) 100 units

Multiplied by your CPM rate $10 - $30

Equals $1000 - 3000 / month

… because the real-life numbers are
surprisingly low

… because subscriber acquisition, and
retention is less expensive

… because of expanded reach and potential
audience

… because feedback is instant and the
opportunity cost is low

… when you plan for a cost-neutral Web
operation

… when you are purposeful with online
marketing & promotions

… when you close the loop: going from offline
to online

SIMPLICITY: ISN’T IS SIMPLE?

Simple strategies are sustainable strategies

… by focusing on quality traffic, as well as quantity

… by using micro sites, blogs, and syndication (RSS)

Strategy #3: And -- finally! -- social networks
(Facebook, MySapce, etc.)

… because they’re Low-cost promotional vehicles, e.g.:
events, new issues, etc.

… because Lots of “Web 2.0” and media tools are
baked-in

…because SNS = traffic. And traffic equals….?

Will magazine publishers be able to finish
the marathon?

The opportunity is to move innovation from
projects to operations

What does your training program look like?

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5 easy ways to grow your online revenue! (and other get rich quick schemes)

1. 5 easy ways to grow your online revenue! (and other get rich quick schemes) Presented by Phillip Smith Web Weekend, Nov 24th www.communitybandwidth.ca

2. Why would anyone trust this guy?

3. You

5. The cost of doing business on the Web is INCREASING

6. Magazine publishers are asking “WHAT IS AT THE END OF THE RAINBOW?”

7. Some days, it would be easier to just pretend this “Web” thing DIDN’T EXIST

8. The reality is that the Web has done more for magazines than the printing press

9. The secret to online revenue is simple…

10. You must TRAIN to SUCEED.

11. 5 easy ways to grow your online revenue! (and other get rich quick schemes) 1. Slow and steady wins the day 2. The realities haven’t changed that much 3. Simple strategies are sustainable strategies

12. Slow and steady wins the day

13. Strategy #1: Establish your base

14. …by getting the right systems in place

15. …by getting the right systems in place

16. …by getting the right systems in place

17. …by getting the right systems in place

18. …by getting the right systems in place

19. …by getting the right systems in place

20. …by getting the right systems in place

21. …by getting the right systems in place

22. … by double-checking EVERYTHING

23. … by double-checking EVERYTHING

24. … by double-checking EVERYTHING

25. … by going for the big numbers

26. Strategy #2: Follow the TRENDS

27. … by figuring out what numbers are important

28. … by experimenting, and then let the results speak for themselves

29. … by creating regular reports on actionable information

30. Strategy #3: Focus on GOALS and CONVERSIONS

31. … because all sites have goals (so track them!)

32. … because all sites have goals (so track them!)

33. … because everything is measurable online

34. … because everything is measurable online

35. … because everything is measurable online

36. … because everything is measurable online

37. … ultimately, it’s the conversions that count

38. … ultimately, it’s the conversions that count

39. … ultimately, it’s the conversions that count

40. … ultimately, it’s the conversions that count

41. 5 easy ways to grow your online revenue! (and other get rich quick schemes) 1. Slow and steady wins the day 2. The realities haven’t changed that much 3. Simple strategies are sustainable strategies

42. The realities haven’t changed much

43. :-( First, the downside

44. …because CPM rates are static

45. …because CPM rates are static

46. …because CPM rates are static

47. … because the online ad industry is consolidating

48. … because the real-life numbers are surprisingly low

49. … because the real-life numbers are surprisingly low

50. Available inventory 100,000 views / impressions Divided by 1000 (CPM) 100 units Multiplied by your CPM rate $10 - $30 Equals $1000 - 3000 / month … because the real-life numbers are surprisingly low

51. :-) But, there’s an upside

52. … because subscriber acquisition, and retention is less expensive

53. … because subscriber acquisition, and retention is less expensive

54. … because subscriber acquisition, and retention is less expensive

55. … because of expanded reach and potential audience

56. … because feedback is instant and the opportunity cost is low

57. ;-) And … there are success stories

58. … when you plan for a cost-neutral Web operation

59. … when you are purposeful with online marketing & promotions

60. … when you are purposeful with online marketing & promotions

61. … when you close the loop: going from offline to online

62. … when you close the loop: going from offline to online

63. 5 easy ways to grow your online revenue! (and other get rich quick schemes) 1. Slow and steady wins the day 2. The realities haven’t changed that much 3. Simple strategies are sustainable strategies

64. SIMPLICITY: ISN’T IS SIMPLE? Simple strategies are sustainable strategies

65. Strategy #1: Evolve your Web traffic

66. … by focusing on quality traffic, as well as quantity

67. … by giving away your content

68. … by using micro sites, blogs, and syndication (RSS)

69. … by using microsites, blogs, and syndication (RSS)

70. … by using microsites, blogs, and syndication (RSS)

71. Strategy #2: Grow your lists

72. … because lists = relationships!

73. … because lists = relationships!

74. … because lists = relationships!

75. … because lists = relationships!

76. … because lists = relationships!

77. … by setting targets

78. … by setting targets

79. … by setting targets

80. …by keeping those subscribers

81. …by keeping those subscribers

82. Strategy #3: And -- finally! -- social networks (Facebook, MySapce, etc.)

83. … because they’re Low-cost promotional vehicles, e.g.: events, new issues, etc.

84. … because Lots of “Web 2.0” and media tools are baked-in

85. …because SNS = traffic. And traffic equals….?

86. …because SNS = traffic. And traffic equals….?

87. Will magazine publishers be able to finish the marathon?

88. The Web isn't going to go away

89. The opportunity is to move innovation from projects to operations

90. What does your training program look like?

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