You publish a digital magazine or media publication. It’s subscription only. Have you considered running digital advertising on your site in addition to subscription sales?
If not, here’s why you should:
- Digital advertising has become arguably the most important form of advertising with $171 billion spent in online advertising 2015 and $330 billion forecasted to be spent in 2021.
- The above discusses ad spend. What about revenue? How does revenue of $88 billion (2017) sound? (And that is revenue just for the U.S.)
You can capture your share of that revenue by using MagHub to sell digital advertising and manage your digital sales.
Of course, there’s a bit of a learning curve when it comes to mastering digital ad sales if your magazine has never before offered them. If this is the case for you, it’s wise to hire an experienced digital advertising professional to manage the actual sales process.
If your magazine is small and your budget doesn’t allow the hiring of an account or sales manager, here’s an extremely short primer to help you get started selling digital advertising/banner advertisements on your website.
But don’t stop at just banner advertisements, pop ups, and other forms of digital advertising. You may want to consider offering partnership opportunities with potential advertisers, such as custom content (akin to the print world’s advertorials) and even event sponsorships. If your digital publication is one that offers seminars, parties, conferences, travel opportunities for subscribers, etc., allowing an advertiser to sponsor a part of it not only will help you defray costs, you may make additional revenue above expenses.
Using software such as MagHub as you sell digital advertising helps you in several ways:
- You can create rate cards for different ad costs depending on their size, location in your digital, or even print publication.
- Once an ad is sold, you can create invoices and ad orders that can be sent automatically.
- The system’s CRM allows you to create prospect “folders” and contacts for your leads. The system logs emails and sales calls and prompts your account executives with next steps, to-do’s, client notes, and more.
Whether you’re simply looking for a digital program to manage your media publication’s subscribers/subscriptions and distribution and/or if you want to start selling digital advertising on your magazine’s website, MagHub can do it all for you and your team inexpensively (we start at just $60/month per user). In short, our system allows you to manage all aspects your magazine’s operations in one place.
Contact us for more information on how we can help streamline your digital advertising.