Now that you’ve made a financial profile of your magazine and figured our where to cut costs, it’s time to gauge your ROI. At our recent Niche Magazine Conference, we learned from Jim 4 key areas to focus on for increased ROI.
Here are Jim’s 4 key areas to investigate and evaluate to improve ROI for YOUR niche magazine:
1. Audience development: Use premium content to get users to register. This gets names which can be used for lead generation. Clean up your reader files to reduce excess distribution of controlled circulation issues.
2. Production: There is quite a lot here. If you have not re-bid your print contract for several years (3+) then you are leaving money on the table. Since 2009/2010 prices have dropped dramatically. For example, re-bidding a 5 year only contract can yield savings of 15% – 20%.
3. Trim Size: Everyone looked at this in the last downturn. Being able to reduce means less paper is used, and postage is lower.
4. Co-mailing: This yields a savings of between 5% and 10%. Many publishers don’t want to try this for fear it will delay getting the magazine out, but that isn’t necessarily the case. Ask your printer to do a “co-mailing study” for you. Printers such as Quad, Donnelley, and Brown have excellent equipment to use for co-mailing. Other printers may or may not do this for you.
Now: Jim Zielinski is founder of Zielinski Financial Advisors, LLC, an independent financial consultancy. The firm’s focus is on acquisitions, bank financing, profit and performance improvement, and preparing your company for sale.
Past Life: Jim worked in banking and equity investing at Chase Manhattan Bank, N.A. and Bankers Trust Company for over 20 years.In 1997, Jim became CFO for Hanley Wood, LLC, a business to business media company, where he was an owner, director, and executive directing the financial affairs of the company until its sale in 2005. Jim is a member of the Board of Managers of Virgo Publishing, LLC, Athletic Business Publications, and MedTech Media.
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! Plus, Carl Landau – Niche Media’s Grand Poobah – just launched a blog all about creating and marketing targeted events – blog.NicheEventNation.com Check it out!
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