This is part six of a series of summaries from the Niche Digital Conference held in Nashville, Tenn. The conference is focused on online revenue strategies for niche publications.
Niche your niche for fun and profit. Here are Grand Poobah Carl Landau’s ways you can niche your niche.
Carlism #1 – Love The One You’re With
Take Full advantage of your magazine’s brand. You have an estabilished brand, and that is much easier to sell. This also means that you have several opportunities right under your nose.
Carlism #2 – Keep Niche Weird
Be weird. Be different. Anybody can be boring, and that doesn’t motivate anyone. The reason people tend to shy away from fun ideas, or new ideas is because they are afraid. Take a chance on something weird, because it just might work.
Carlism #3 – The More Carls, The Better
Niche your properties. Readers are more interested in what you have because it’s something they want. Advertisers will pay a premium for this valuable audience. It’s OK to have mutliple newsletters, blogs, websites, and events.
Carlism #4 – Provide Useful Content And You’ve Made A Customer For Life
It’s all about content marketing. Focus on help, not hype because it really works. It’s important to have someone that is dedicated to content marketing, and they need to see the value in what they are doing. (www.nichemediahq.com)
Carlism #5 – Google Increases Online Revenue, And You Only Get What Google Wants To Sell
Now is the time to look at native advertising (clearly labeled, of course). The banner ad is a dying breed. Look at new ways to increase online revenue with webinars, podcasts, and blogs. Then make sure you understand SEO. Make it work.
Carlism #6 – Events
Live events are at an all-time high because of social media, as in real social media. At an event you actually talk to a human being and advertisers like that. The typical magazine profit margin is anywhere from 10 to 20 percent, but a typical event profit margin is 40 to 60 percent. Look to create new events, niche existing events, and remember that small is the new big.
Carlism #7 – Niche Is The New Black
Keep on niching. Keep segmenting lists, because they are your lifeblood.
Carlism #8 – Advice For Editors
Editors drive new online audience development and revenue, and gracious with their spelling tips. However, the days of editorial direction is over because audiences now direct editorial. Editors can help the big picture by understanding SEO, helping to build social audiences, and help engage with readers.
Carlism #9 – Advice For Sales Reps
Media sales is the highest for of sales. You are selling ideas. Be an industry expert, not just a sales person. Embrace technology, instead of buck the system because it’s not going anywhere. Think about branding yourself with an advertiser e-newsletter, or blog. Build custom programs, and stick to the price. Period.
Carlism #10 – Advice For Publishers/CEO
Anybody can be a CEO, but there is only one Grand Poobah. Make work fun to keep your team inspired. One idea is one-on-one lunches once or twice a month. Pick an employee, take them to lunch and get to know them – and what they do. Some of the best ideas come from the least likely of places. Remember that media is going integrated, and that means you may have to change the way you look at things. You have to reach your reader however they want to reach you.
Carlism #12 – Niche Test Launch
Test ideas! Startups are fun and easy in the digital age. Look at new ideas for magazines, events, and blogs. Look at online testing only, or through social media and don’t’ forget to collect logs of feedback.
Carlism #13 – Boring Does Not Equal Professional
It’s OK to have fun at work. Dive into what your brand stands for. What do your employees think it stands for? Have you ever bothered to find out? Fiind out. What makes your brand one-in-a-million instead of just one of millions.