jeff joseph - what this niche magazine man learned
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23 Things this Niche Magazine Man Learned
about New Media, Older Editors &
“Pulp Bait” Publishing PUBLISHERS’CONCLAVE
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Who am I?Why am I here?
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How I became a financial publisher
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How I ended up here at the Conclave
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“PUBLISHERS’CONCLAVE
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— The Print Magazine Industry & the Enemy Within (Bo Sacks — January)
“seasoned entrepreneurs and operators know that if the goal is to have a bigger piece of the pie, it is a good long term strategy to work together to bake a bigger pie…in addition to trying to sneak a slice or two from the others at the table.”
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— The Print Magazine Industry & the Enemy Within (Bo Sacks — January)
Identify the weaknesses in your business
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#1
Identify the weaknesses in your business
…and then direct the majority of your time & energy addressing those weaknesses.
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#1
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➤ Key man dependence
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➤ Key man dependence➤ One revenue source
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➤ Key man dependence➤ One revenue source➤ Concentration of advertisers
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➤ Key man dependence➤ One revenue source➤ Concentration of advertisers➤ Narrow audience
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➤ Key man dependence➤ One revenue source➤ Concentration of advertisers➤ Narrow audience➤ Extensive digital competition
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➤ Key man dependence➤ One revenue source➤ Concentration of advertisers➤ Narrow audience➤ Extensive digital competition➤ Poor packaging & design
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Understand the business challenge of periodical
publishingPUBLISHERS’CONCLAVE
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#2
Understand the business challenge of periodical
publishing…so you can manage your time & content strategy accordingly
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#2
No time for (old) rules
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#3
No time for (old) rules
…”who gives a f#*k about an oxford comma” — Vampire Weekend PUBLISHERS’
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#3
Steve Forbes’s Obsession
or Steve Forbes’
Obsession PUBLISHERS’CONCLAVE
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No separation between editorial & sales
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#4
No separation between editorial & sales
…we don't sell our editorial, but we do give some away to our marketing partners PUBLISHERS’
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#4
Negotiate everything
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#5
Negotiate everything
…everythingPUBLISHERS’CONCLAVE
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#5
Make every meeting & every phone call count
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#6
Make every meeting & every phone call count
…know your “asks”PUBLISHERS’CONCLAVE
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#6
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➤ Subscription sales wisdom & partners
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➤ Subscription sales wisdom & partners➤ Independent luxury ad sales reps
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➤ Subscription sales wisdom & partners➤ Independent luxury ad sales reps➤ Low cost editorial photo library options
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➤ Subscription sales wisdom & partners➤ Independent luxury ad sales reps➤ Low cost editorial photo library options➤ A CMS platform that better integrates print,
digital & mobilePUBLISHERS’CONCLAVE
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It isn’t content if nobody reads it
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#7
It isn’t content if nobody reads it
…yes, covers, headlines, teasers, readouts, pull quotes and graphics are indeed as important as the text
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#7
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“Data have turned journalism into a commodity, something to be marketed, tested, calibrated. Perhaps people in the media have always thought this way. But if that impulse existed, it was at least buffered. Journalism’s leaders were vigilant about separating the church of editorial from the secular concerns of business. We can now see the cause for fanaticism about building such a thick wall between the two.” PUBLISHERS’
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— Franklin Foer (The Atlantic, Sept 2017)
Three headlines per story
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#8
Three headlines per story
…and split-test as often as you canPUBLISHERS’CONCLAVE
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#8
How To Make That One Thing Go Viral
— Upworthy, 2012,
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➤ Don't be shrill. Don't form an opinion for the end user. Let them do that.
➤ Be clever. But not too clever.➤ Don't give it all away in the headline
(the “curiosity gap”)
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Social score your editorial subjects
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#9
Social score your editorial subjects
…target celebrityPUBLISHERS’CONCLAVE
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#9
The package is as important as the product
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#10
The package is as important as the product
…so budget accordinglyPUBLISHERS’CONCLAVE
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#10
The package is as important as the product
…so budget accordingly…invest in look & feel PUBLISHERS’
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#10
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41Timely Trade Ideas 45th Anniversary
Year15 Perspectives on Gold & Bitcoin6Power Trading
Techniques
12.17 • issue 538 moderntrader.com
Jim RogersTyler & Cameron Winklevoss& more
Will Bitcoin Eclipse Gold?
2017’s Best of Beer, Wine, Whisky & Song
Unfiltered views of market totality since 1972 “Best Business Magazine”— Niche Media Awards 2017
Don’t (over)pay for contributed content
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#11
Don’t (over)pay for contributed content
…those days are overPUBLISHERS’CONCLAVE
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#11
Develop an editorial voice
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#12
Develop an editorial voice
…be a vocal advocate and stand for something that your audience cares deeply about PUBLISHERS’
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#12
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Know your audience
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#13
Know your audience
…survey often & let them know who they are PUBLISHERS’
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#13
Think outside your audience
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#14
Think outside your audience
…who else could/should be reading your publication? PUBLISHERS’
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#14
Revenue first
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#15
Revenue first
…every dayPUBLISHERS’CONCLAVE
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#15
Commission only sales
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#16
Commission only sales
…eat-what-you-kill culturePUBLISHERS’CONCLAVE
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#16
Commission only sales
…eat-what-you-kill culture…tier the book PUBLISHERS’
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#16
Sell non-endemic editorial
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#17
Sell non-endemic editorial
…your audience won't hold it against youPUBLISHERS’CONCLAVE
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#17
Employ “helicopter” sales management
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#18
Employ “helicopter” sales management
…meet 2-3 times per week
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#18
Employ “helicopter” sales management
…meet 2-3 times per week…read their emails
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#18
Employ “helicopter” sales management
…meet 2-3 times per week…read their emails…have quotas PUBLISHERS’
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#18
Employ “helicopter” sales management
…meet 2-3 times per week…read their emails…have quotas…require bcc on all new prospecting and client proposals
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#18
Seek out new affinity group partners & distribution points
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#19
Seek out new affinity group partners & distribution points
…coordinate editorial with events for audience development PUBLISHERS’
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#19
Develop alternative revenue sources to monetize your audience
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#20
Develop alternative revenue sources to monetize your audience
…think beyond advertising and/or subscription revenue
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#20
Develop alternative revenue sources to monetize your audience
…think beyond advertising and/or subscription revenue…train your audience to buy PUBLISHERS’
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#20
Micro manage
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#21
Micro manage
…to a milestonePUBLISHERS’CONCLAVE
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#21
“Today, for every real micromanager…there are dozens of abdication managers. These are the people who know little about what their direct reports are working on, and defend their approach by citing their own busy schedules, or worse yet, by proudly using words like trust, autonomy and empowerment.”
— Dr. Travis BradberryPUBLISHERS’CONCLAVE
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It is not about age
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#22
It is not about age
…it is about attitudePUBLISHERS’CONCLAVE
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#22
Odd numbered cover lines are more compelling than
even numberedPUBLISHERS’CONCLAVE
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#23
Thank you!
➤ Subscription sales wisdom & partners➤ Independent luxury ad sales reps➤ Low cost editorial photo library options➤ A CMS platform that better integrates
print, digital & mobile
PUBLISHERS’CONCLAVE
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jj@alphapages.com
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