Tag Archives: marketing

New at PBS MediaShift: Esquire’s Story Trailer

26 Feb

My story about Esquire’s creative new approach to marketing a major story – a video trailer – is now up at PBS MediaShift.

Though a few other folks have covered this story, I was able to get a little more behind-the-scenes info from the Esquire and Hearst Digital Media crew that put the trailer together. I also tried to give a bit more context for the development of trailers for magazine stories as perhaps the next step from book promotions using video.

Is this a promising new step in magazine marketing, or just a one-time success? Let me know what you think in the comments!

Photo mashup by me using film image by Travis Homung on Flickr.

Magazine Subscription Pricing: Communicating Value

8 Feb

Subscription cards from four of the magazines I receive: Sunset, Smithsonian, Triathlete and Make, all priced around $30/year.

Magazines have a serious dilemma in pricing subscriptions:

  1. What’s the maximum price readers will pay? (Or, how much is this magazine experience worth to them?)
  2. What’s the minimum price that will generate profit, or supplement advertising revenue adequately to add up to a profit?
  3. What’s the minimum price that still communicates that the product is quality and has value?

An interesting post recently at Ad Age suggests that, although low prices might appeal to readers, magazines that cut their subscription rates may not gain subscribers; they might even lose them.

As magazines have lost circulation dramatically of late, subscription revenue will likely become increasingly important to replace declining ad revenue. However, readers are slicing away unnecessary expenses themselves – with magazine and newspaper subscriptions likely among the casualties.

I’m certainly a magazine enthusiast, and when I find a subscription card offering me a magazine for $1 an issue, that $12 per year for a fresh magazine experience is pretty tempting.

What I’ve noticed, though, is that – as the Ad Age piece calls it – I often become part of the “marginal readership” of the magazine if I take the plunge and buy the cheap subscription. I haven’t invested enough to feel motivated to take the time to read the magazine unless it turns out to be quite appealing.

When I have spent a lot of money (for me) on a subscription, as with The New Yorker, I’ve felt serious guilt over not being able to read every issue faithfully. I feel like I’ve let down my “pledge” to become a reader and am disappointed in myself and my failure to follow through on my spending. (Yes, I tend to be hard on myself; can you tell?) So, the greater the subscription expense, the greater my desire to fully invest myself in that magazine experience. The expense isn’t the only determinant of my reading enthusiasm, of course, but it is a factor.

This phenomenon is one reason why I’d argue that many magazines should charge more for their content. I think readers “buy into” a magazine’s uniquely constructed experience and offerings, and want to become part of its community through reading. Undervaluing that experience by putting a small price tag on it also undermines the sense of worth that readers ascribe to their participation with the magazine – and, as side effects, could diminish their loyalty as subscribers and their attention to advertising messages within the magazine.

In these times, magazines need to do everything possible to maintain their existing subscribers and attract new ones. Counterintuitively, the best way to do that might be to keep subscription prices at current levels or raise them slightly.

Of course, I’d also be willing to spend more on magazines to fund better content and to liberate magazines from the many editorial constraints they experience as a result of their reliance on advertising. I’d also like customizable magazines and other innovations. And, of course, it would be great to see magazines on iPads that are awesomely designed. I’ve written about all those things here. And if publishers want to have the funding to make those things happen, they need to communicate to the audience that their monetary investment is necessary to continue the creation of terrific magazine products.

My one nagging question, though, is whether it’s fair to raise subscription prices and inevitably price some readers out of the opportunity to participate in magazine readership. Would raising prices create a certain elitism around magazine subscriptions? (Maybe that already exists?)

Perhaps the growing field of print-on-demand magazines, along with the digitizing of magazines, eventually will lead to such efficiency in the publishing and distribution process that prices will adjust accordingly and remain accessible to a variety of readers. It may be that as these new approaches develop, the act of subscribing to a magazine will look so different that these concerns are no longer relevant.

Teaching Personal Branding

13 Nov
profiles

Nice, but what's behind the profiles? Image by M. Keefe on Flickr.

Journalism and media students – and, in fact, all soon-to-be college graduates – are faced with a depressing job market and intense competition for the positions that are available. It might seem obligatory for faculty to do everything possible to help their students succeed professionally when they leave the university. But I am concerned about the growing emphasis on personal branding as a means of achieving that success and its consequences for students’ personal and intellectual growth.

Personal branding is increasingly touted as a way to conceptualize your everyday work, to delimit the projects you undertake, and to market yourself as a producer of unique projects that reflect your distinctive mindset and skill set.

This strategy is often mentioned these days as a way for journalists – and students hoping to enter the media professions – to distinguish themselves from their competitors for jobs and freelance assignments in an insecure and limited market.

I’m planning to discuss this concept with students in my media classes next semester. I know many other journalism and media professors are doing the same: encouraging students to envision themselves as experts in a particular area that they both like and see as marketable; to pursue more knowledge in that area; and then to market themselves as unique resources on that topic through blogging, for example. I’m struggling a bit, though, with the ethical ramifications of doing that.

Dan Schawbel, who runs a personal branding blog and wrote a book on it, has this advice for college students:

College student: A college student is interested in either getting an internship, starting a business or getting a corporate job upon graduation. They have to compete on experience and network extremely hard in order to get a job. They need to position themselves as superior relative to their peers. This means, becoming a leader in college organizations, meeting as many people as you can, forming a personal branding toolkit and starting when you’re a freshman are critical to your success.

So, according to Schawbel, this personal branding process begins with someone who is about 18 and who is probably still figuring out what major to pursue, not to mention what to do with his or her life. (Schawbel actually says high school students should have been working on personal branding already, especially for college applications.)

game

Teaching more than the rules of the game...what's the game for and about, anyway? Image by Intersection Consulting on Flickr.

I had the luxury of entering the university as an undergraduate with a semester and a half of Advanced Placement credit. I worked part-time off campus, but still had the opportunity to take more courses for fun in a broad variety of areas than many of my peers did. I took Italian. I took fencing. I took geology. I did a minor in Medieval and Renaissance Studies. Useful? Not so much. But really fun, and personally enriching.

Had someone I respected – e.g., a faculty member – strongly encouraged me to narrow down my self-concept and pursuit of knowledge, and told me I was unlikely to get a job in my desired profession otherwise, I don’t know if I’d have felt as willing to experiment with a variety of courses and ideas. Already, students at our university are having to whittle their coursework down to the bare minimum due to budget cuts, tuition increases and restricted course offerings. Is it fair for me to suggest that they confine their intellectual pursuits even further?

Clearly, there needs to be a balance between preparing students for the job market (what’s left of it, anyway) and encouraging them to think of themselves as more than employees or producers of stuff. They need to realize they are also thoughtful individuals with intellectual contributions to make as well. Simply forming students into products with distinctive brands – yet more commodities to be bought and sold – diminishes the act of teaching and the nature of the university as a place that values critical insight and deep thinking.

Although we all want students to graduate and embark on personally and professionally satisfying careers, can we address the challenge of “marketing yourself” in a way that retains the intellectual substance and personal satisfaction that are found through experiencing all the university has to offer? Particularly, students still need courses and assignments that cause them to think critically about the professions they hope to enter so that they aren’t simply becoming marketable automatons who produce whatever is most in demand at the moment, without regard for their work’s greater ramifications.

I think that for me, this balance will take the form of continuing to teach a critical perspective on media and journalism, inherent to all my courses, and also assigning tasks specific to helping students understand how they will attempt to position themselves personally in the media professions. These tasks would involve sincere reflection on the nature of the work they want to do and its fit with their beliefs, motivations, and desires. They need to be sure they actually fully understand their work and the consequences of their “brand,” and that they aren’t entering a profession or marketing themselves in a way that is in fact contrary to their personal beliefs. Such projects might intervene in students’ push for professional achievement so that they become thoughtful, ethical professionals who will ultimately be proud of their life’s work and will have made a contribution to their communities and society at large.

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