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New Revenue for News Organizations


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New Revenue for News Organizations

  1. 1. New Revenue Models Paul Gillin American Press Institute May 23, 2011
  2. 2. “ The number one thing we do as an organization is provide marketing services. If building a Flickr account will help a client’s business, we’ll do that for them. “Most of our sales are coming from social media work, events and services.” -Ben Ilfeld, Founder Advertising now comprises less than 50% of revenue. How Sacramento Press Does It
  3. 3. Today’s Revenue Model (Not to scale)
  4. 4. Revenue of the Future (Not to scale)
  5. 5. 50 Revenue Streams Banners Scrolling banner Micro-sites Topical sections [email_address] @pgillin
  6. 6. Newsletters Syndication Text links Downloads [email_address] @pgillin
  7. 7. White papers Topical sections [email_address] @pgillin
  8. 8. Why Let Them Have All the Fun? Local advertising is a $25 billion annual market in the US. No one owns it. [email_address] @pgillin
  9. 9. How Local Merchants Advertise Can You Do More? [email_address] @pgillin
  10. 10. What Are You Doing to Help This Guy?
  11. 11. Beyond Classifieds What can we do to facilitate the sale beyond running the ad? [email_address] @pgillin
  12. 12. “ Reinventing newspaper classifieds means becoming more active in the selling process. Your job now is to help people sell cars, homes, bicycles; rent apartments; sell homes; find people jobs, and dates, and handymen. ” -Christopher Ryan and Steve Outing [email_address] @pgillin
  13. 13. Demonstrate Expertise [email_address] @pgillin
  14. 14. Take Part In the Sale [email_address] @pgillin Book with Contribute your review! $39.95 with coupon! Special Coupon Book For Our Readers! In partnership with
  15. 15. Event Promotion [email_address] @pgillin
  16. 16. Event Promotion Some b-to-b publishers are events companies disguised as magazines [email_address] @pgillin
  17. 18. Leverage Demographics and Psychographics Know More About the Customer
  18. 19. Demographics for Social Recommendations
  19. 20. Help Businesses Publish [email_address] @pgillin
  20. 21. Transaction Fees [email_address] @pgillin
  21. 22. Membership Has Its Rewards <ul><li>Chat with local sports figures </li></ul><ul><li>Discounts at local businesses </li></ul><ul><li>Affinity programs </li></ul><ul><li>Education/training credits </li></ul><ul><li>Buyers clubs </li></ul><ul><li>Backstage passes </li></ul><ul><li>Advance screenings </li></ul><ul><li>Golf lessons </li></ul>[email_address] @pgillin
  22. 23. What Craigslist Can’t Do <ul><li>Contextualize </li></ul><ul><li>Compare </li></ul><ul><li>Tier Services </li></ul><ul><li>Advise </li></ul><ul><li>Give Back </li></ul><ul><li>Market </li></ul><ul><li>Review </li></ul><ul><li>Design </li></ul><ul><li>Rate </li></ul><ul><li>Package </li></ul><ul><li>Create Storefronts </li></ul>Craigslist is freakin’ text ads. You can’t beat Craigslist at its own game. You must change the rules! [email_address] @pgillin
  23. 24. Can Paid Subscriptions Work? They’re Working For These Guys The key is to provide a high level of perceived value. You can’t sell subscriptions to a commodity. And is the tradeoff really worth it? [email_address] @pgillin
  24. 25. How About Micropayments? Ubiquitous A successful system must be: Drop-dead simple Rechargeable Can you enable this for your small business customers? [email_address] @pgillin
  25. 26. Seek Inspiration From Models That Work Customer ratings Personal profiles Comparative ratings Contextual advertising Local connections [email_address] @pgillin
  26. 27. How Starbucks Could Be a News Powerhouse Customer defines interests online… Presents affinity card at point of sale Back-room printer turns out custom newspaper… For customer to take to work. Payment by subscription fee or affinity program [email_address] @pgillin