Tips For Future
Publishers
We frequently meet and talk to people who are thinking
of starting a new magazine. Often such people spend most
of their time worrying about how their publication will
LOOK, not how it will SELL. Sadly, more than two-thirds
of new publications started by first-time publishers flop
within a few months. Luckily, there are some simple steps
you can take to increase the odds that your own
publishing ideas will succeed.
1. Concentrate on markets that you know very
well.
For a small publisher with limited resources, the best
strategy is to stick to a market you already understand
very well. If you really know what you're talking about,
then your magazine is probably going to be useful to it's
readers. In addition, you'll find it easier to manage
your magazine business if you have a deep connection to
your field.
2. Listen to your readers and advertisers and
develop products responsive to their needs.
The worst mistake people make is this: They concentrate
on what they want to WRITE, not on what the audience
wants to READ. Of course, great communicators listen as
well as they speak. So give your customers plenty of
opportunities to tell you what they think. For example,
use polls or e-mail to solicit their comments and
suggestions. Study the information habits of your
audience before you design your magazine.
3. Aim for readers who have continuing information
needs.
It takes money to find new readers and earn their trust,
so look for people who will need you years from now as
much as they need you today. For example, you can
concentrate on divorce lawyers not individuals going
through a divorce.
4. Get help from experienced people.
The quicker you learn the magazine trade, the sooner you
can expect to succeed. Experienced people can help you
learn quickly. Sometimes you can get excellent advice for
free from people right in front of you like your magazine
printer or your banker. If you come across someone you
respect, don't be shy about asking them for business
suggestions. As soon as you can afford to do it, hire
people with magazine experience to advise you.
5. Adopt good ideas whenever you find them.
In other words, don't reinvent the printing press. Study
other magazines and get to know other publishers. One
fast way to master the business is to study what's
already working from other publishers and what is not.
For example, collect media kits from other magazines or
renewal promotion letters from other magazine and see if
you can borrow some good tactics from them.
6. Befriend influential people in the market you
are targeting and ask them to support your
magazine.
Key people in your field can support you in many ways:
sharing their thoughts in a column or interview,
introducing you to their colleagues, or simply helping
you understand trends and new developments. Reach out to
them!
7. Study the results of your actions.
Especially if you are new to magazine publishing you'll
learn much more quickly if you keep track of what you're
doing. Concentrate your efforts where you are most
effective. Code your subscription order forms, for
example, so that you can see which direct mail letter or
advertisement produces the most orders. Then concentrate
your money on the top producers.
8. Be prepared for change
Save some of your resources for the proverbial rainy day
and always consider alternative strategies ahead of time
because the one thing you can count on is change. New
competitors will come along, readers will change their
reading habits, and your organization will need to
continually evolve. Many inexperienced publishers lock
themselves into a single strategy and they fall apart
when their circumstances change. Can you keep publishing
even if a key editorial contributor decides to quit for
example? What ever happened to all those "Dot Com"
magazines?
9. Look for ancillary profit opportunities.
Once you've got a trusting relationship with advertisers
and subscribers, look for add-on or spin-off products you
can sell to the same customers. Many magazines make
profits from special reports, seminars, books, videos,
and other ancillary products.
10. Plan well before you leap into print.
Magazines are relatively easy to launch but hard to
maintain. Make sure you've chosen a subject that you care
about and that you're suited to a publisher's lifestyle.
The best insurance is to do a lot of homework before you
launch: learn as much as you can about publishing, study
your audience and your competitors, and carefully define
your own goals and aspirations. Don't go forward until
you've got a long-term plan you can live with.
If still decide to take the plunge visit our
"New Magazine Startup Guide"
for what to expect.
Questions?
If this page sparks additional questions or comments,
please feel free to direct them to: info@magazinepublisher.com
