Digital Media Strategy 2010
By Amanda MacArthur • 10/16/2009
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Financial success for online publishers begins with embracing the right content and revenue model.
In 2010, anyone with editorial content, or the capacity to create it, can become an online publisher.
- If you’re a blogger, with a passion for any niched, special-interest topic, you might be able to get paid for writing about it using an online publishing business model.
- If you’re the author of a printed book, or a successful public speaker, you can launch a one-person online publishing company.
- If you’re a traditional print newsletter, magazine or book publisher who wants to be an online publisher, you can quickly and easily create a separate profit center for online publishing.
Learn the digital media strategy for making money online in 2010!
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How Smart Online Publishers Use Banners, Text Ads and Sponsorships to Generate Online Advertising Revenue & Sell Premium Information Products (AKA: Paid Content)
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"The Mequoda Daily provides informative, and inspirational ideas—large or small—that help me think through the myriad of challenges we face in our online publishing efforts."
—Ed Coburn, Publishing Director, Harvard Health Publications
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Digital Media Strategy 2010 Take-Away #1: Decide whether you are user-driven (products), sponsor-driven (ads) or a hybrid (both)
A feasibility study, business plan and business development program can help your online publishing enterprise get started right. But regardless of the platform on which you launch your online publishing enterprise, and no matter the business model you eventually embrace, you must begin by making a fundamental decision.
Where will the revenue come from?
Digital Media Strategy 2010 Take-Away #2: Build a digital media pyramid to discover where your opportunities for new revenue lie
On the Mequoda Digital Media Pyramid, the online publisher’s periodical website (or blog) and email newsletter (which is tied lockstep to the blog), are both free. They are the marketing arm of the online publishing enterprise, designed to build an audience. Once you have used your free products to build a robust email subscriber list, you can then create new products, such as digital events, live events, subscriptions, memberships and more.
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Digital Media Strategy 2010 Take-Away #3: Pay attention to the metrics of a sponsor-driven online model the same way you would a print model
The metrics of digital media are similar to the traditional sponsorships for print magazine and newspaper publishing, i.e., they are based on measured circulation or readership plus the value of your brand environment and the implied endorsement you offer sponsors. The most common unit of sale used by sponsor-driven websites is CPM or cost per thousand impressions.
Digital Media Strategy 2010 Take-Away #4: Decide whether a hybrid model will work for your online publishing business
Hybrid periodical websites come in many variations. Magazine and newspaper publishers often build hub, retail subscription and membership functionality into a single user interface. That is, they charge users for some or all of their premium content, plus collect advertising revenue from sponsors. This is a tricky revenue model and requires careful attention to website architecture, or it can confuse and drive away users. However, it is doable.
Digital Media Strategy 2010 Take-Away #5: Discover which online publishers are already building robust digital product pyramids and how you can do it for your own business
The online publisher who includes at least one and up to five types of premium information products adds stability to their business by leveraging their online audience relationships across multiple media platforms.
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