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Tag: monetizing social media

Social Media, Magazines a Match on Experimentation

Social media: Magazines know they must have a presence, but the problem comes in fully achieving it. For instance, when, why, how, and where to post? Or, alternately, do you just hand over all of your content to Facebook Instant Articles and call it a day?

As with any other component of your multiplatform strategy, you must have a plan, but you must also leave enough wriggle room in that plan to experiment.

MinOnline.com recently ran a great interview with a leading executive on social media analytics, monetizing social media, and publishing social media. Let’s start there this week!

Monetizing Social Media: Bloomberg’s Strategy

Monetizing social media by converting side-door traffic into subscribers is one of the most important challenges publishers currently face. Convincing curious visitors to sign on as customers via quality content that’s skillfully distributed and diversely packaged requires patience, experimentation, and diligence, but it’s well worth the effort when those additional revenues start rolling in. Remember: It’s not the number of likes that define social media strategies; it’s the the level of audience development that will drive true reader engagement. Easier said than done, of course, but let’s take a look at how a legacy publisher like Bloomberg pulls it off, via Digiday, along with some other relevant recent articles.

SIPA Member Profile: Nicholas Follows Lighthouse to Smooth Sailing

Don Nicholas, CEO, Mequoda Group, Hopkinton, Mass.

What was your first job out of college and how did you get into this business?

I was 27 when I graduated from college. As my sons, Scott and Ryan, like to say, I was on the 10-year plan. I had gone back to school full-time two years earlier, after spending four years in the Navy and about four years in publishing and marketing. Once I did graduate, I did what all my friends were doing in 1983 and started a software company. Lighthouse Software created and supported a financial forecasting system for magazine and newsletter publishers. Within five years, ours was the number one product in the industry. With more than 800 clients, I made a lot of relationships that have lasted my entire career.

How Print Magazines are Utilizing Social Media

7 ways to increase engagement

Using social media to build relationships has been a strategy many print publishers have adopted.

As digital content becomes more popular, bridging the gap between print and digital is imperative for magazines. Not doing so may result in a loss of audience members.

“Social media has a supply and demand problem” says ZDNet’s Larry Dignan

Well it looks like News Corp. and Google didn’t do their homework when they bought MySpace (News Corp.) and YouTube (Google).

Yesterday in OPA’s Intelligence Report, they had a story on how they are struggling to meet their revenue goals after acquiring the two social media empires in recent years.

According to the article, MySpace was snatched up by News Corp. and “trumpeted at being valued at $6 billion or more, yet the unit will fall short of its $1 billion revenue goal by 10%.“

News Corp. COO Peter Chernin gave three reasons why even their revenues have decreased by $23 million in sequential quarters