How Publishers Can Increase Their Bottom Line with Social Media

A study conducted by the MPA (The Association of Magazine Media), shows that  Social Media Enhances Users’ Magazine Consumption and Engagement.

“Many readers utilize a magazine’s social media platforms for the same reason that they pick up the print edition in the first place–to enter contests, check out promotions, and cash in on coupons. What this breaks down to is that a publisher can share similar information across multiple interfaces (both print and social media), and users will remain interested and engaged. This is a strategy every publisher should take advantage of.” – Shweiki Media

This advice from Shweiki Media shouldn’t come as a surprise. Print has many limitations that are easily overcome with the use of social media.

First, it gives readers the opportunity to connect more often, especially when the print version is only available once per month, or worse once per quarter.

Second, it allows readers to come together to create a community and engage with the magazine they already love and with fellow readers that have similar interests.

Third, it allows the publisher to enrich the magazine experience by delivering interactive content that couldn’t be included in print.

Publishers need to embrace that digital is an extension of the print version of their magazines. They can and should play off each other, a strategy we call Print-to-Web. For example, an article in print that includes recipes could have an extension online where users can upload their own recipes to be voted on by their peers. This incentives sharing with social media and gently drives further engagement. You could even host a final event where prominent figures in the community judge the top 10 vote getters and pick a winner thereby using one article to reach your audience online, in print and in person. A win-win-win!

These types of promotions provide several opportunities to increase your bottom line both on and offline. You could:

• Sell a sponsorship for the contest (ex: The King Arthur Flour Baking Contest) or multiple sponsorships
• Sell an online advertorial (ex: A local bakery could provide 5 baking tips)
• Sell additional print advertising as an article add-on (ex: The same local bakery above could purchase an ad that would appear next to the original story that offers to answer questions online for the duration of the contest and also promotes their advertorial thereby branding themselves as the expert in the area)
• Work with a local restaurant to host the final judging event therefore driving business for them
• Sell banner ads to other business with complementary products or services (ex: grocery stores, home goods stores, cooking schools, etc.)

Regardless of the topic, publishers need to look at every article in print as an opportunity to connect, interact and engage with their readers online (and in person). The real bottom line is about building community and providing relevant information, entertainment and in some cases news. The rest will come naturally as long as you commit to thinking that digital is just as important as print.