Niche publishers from around the country met in Nashville a couple of weeks ago at the Niche CEO Summit to get inspired, hear about new innovations, network and learn from their peers. It’s always a good sign when the sessions would end and the conversations kept on going. No one wanted to leave. We call that a great success!
Here are some of insights from the Roundtable discussions:
- You should always view your existing events (and the new ones you create) as revenue-generating, NOT break-even.
- If you have a great event, event guru Bennie DiCecca encouraged publishers to expand it with a concept called “Road Shows.” That’s right, niche your event to a smaller scale and take it on the road. Bonus: It’s great for lead-gen too.
- If you have panel discussions at your events, have conflicting viewpoints. It’s much more interesting for the audience.
- Live events are hot, hot, hot! How can you create more live opportunities for your readers? Did you know there’s a “live knitting event” that draws 650 attendees every year?
- If you have a successful festival, make sure you own it. One publisher lost the one he started when the vendors basically took it over.
- Niche your niche and niche it again. There are so many ways to create exclusive events and promotions. You already have the audience.
- Partner up! Many publishers talked about the successful partnerships they’ve formed—even unlikely ones—with CVB’s car dealers, health organizations, sports teams and more.
- Take the time to find the right salespeople, said CIO Don Harkey. Think beyond the potluck and create a company culture that rocks! Most publishers talked about the challenges in attracting high-performing salespeople. Sales compensation greatly varies, so it’s important to pay attention to what’s working in your niche.
- From finance expert Phil Binkow: The best first question to ask when considering the sale of your media company is “Is this a strategic buy for you?” Strategic buyers always pay higher multiples as they have the company initiative and staff already in place.
- Custom publishing opportunities abound for niche media companies. Speaker and San Francisco magazine publisher Paul Reulbach told publishers to look for ways to turn a one-off publication into a long-term client.
- The fine lines of native advertising continue to be a hot topic for publishers. You have to constantly review and update your internal policy. More here: Native, Custom and Relevance
- Successfully leveraging your audience data is key. CEO Krystle Kopacz talked about focusing in on demographics and lifestyle vs name and zip code. Look for ways to glean information unique to your niche audience.
Overall, niche media companies are thriving and constantly looking for new opportunities to increase revenues. The good news is those opportunities are out there!
P.S. You can download the presentation slides from our “FAB 5” speakers here: Session Slides
About this blogger: Diana Landau is the Content Wrangler for Niche Media. A former sales director and corporate marketing hack, she has now found nirvana in writing and wrangling quality content. Diana is a food, wine, art and SF Giants enthusiast…who sometimes gets carried away.
Niche Media has created super niched-out events specifically for magazine publishers for over 12 years. We’ve helped pave the way for the era of boutique events that connect specific audiences and provide great educational, friendly and super-fun environments! Check out the all new Super Niche event, March 27-29, 2017!
Image from freedigitalphotos.net