News, Revenue streams

Take a strategic approach to advertising

My experience on the changes in advertising sales over the last decade has resulted in this latest article, How magazines can take a strategic approach to advertising, published in WNIP.

Researching this feature took me back to earlier in my career when the core magazine revenue came from copy sales and advertising.

So much has changed over the past couple of decades, yet I believe the fundamentals remain the same. Whether digital or print, advertisements must reflect the interests and values of the readership.

Therefore, to build a sustainable title with multiple revenue opportunities, a publisher must first develop a robust set of brand values – including trustworthiness – that puts the reader at the heart of everything. These values should then be strictly adhered to and applied across all aspects of the business.

Grow your ad revenue

To achieve growth in advertising sales publishers must adopt a reader-centric approach because to fully engage a readership, all copy must be relevant, valuable and trustworthy – whether it is advertising, editorial or sponsored content.

Bland and irrelevant content will result in a loss of engagement, which in turn will impact on advertising sales as well as advertiser retention figures. Moreover, irrelevant adverts are likely to be responsible for low response rates, causing the advertiser to move on to another source.

While there are certainly challenges surrounding advertising revenue, opportunities for growth are still aplenty. It just takes common sense and some insight.

“How would I counteract today’s decreasing advertising revenues? A few things would change, but the basic model of attracting the right advertiser to relevant products or services remains vital. Advertisers need high response rates, but these can only be achieved if adverts are targeted correctly.” Mary Hogarth

To find out more about my approach, read How magazines can take a strategic approach to advertising.