You’re a publisher. You publish a magazine or newsletter (online and/or print). You sell advertising, not tchotchkes. You sell subscriptions, you don’t put on events.
Or do you?
More bluntly: if you’re not engaging in e-commerce and selling back issues, soft goods (such as t-shirts with your magazine logo printed on them), hard goods (coffee mugs with your logo), and host events, you’re losing out on a great deal of revenue as well as opportunities to build your brand and solidify your relationship with your potential and current subscribers and advertisers.
Need proof? We got your proof: Conde Nast reported that its e-commerce revenue just about doubled in October and November of 2018 compared to the same period in 2017. The article linked calls this the “marriage of content and commerce” and it can mean a nice amount of additional revenue for you: U.S. e-commerce sales grew 15 percent last year (2018), with consumers spending $517.36 billion online with U.S. merchants. What would it mean to your bottom line if you got even a teeny piece of that? Many of your fellow publishers already are!
Or, as the Folio piece linked to above put it:
Publishers are “looking zealously to diversify revenue away from shaky ad support, and….dreaming of getting a piece of the online purchases that their editorial inspires.”
What’s more, your subscribers – or shall we say rabid fans? – want to buy your swag, your t-shirts and coffee mugs, they want to come to a conference or seminar you host and purchase past issues. Selling items and putting on events not only will help fill your virtual cash register, it will help subscribers and advertisers bond with you: they identify with you and they want to be a part of something outside themselves, even if that includes a relationship with the companies from which they purchase products and services….and subscriptions. In fact, your subscribers – even your advertisers – are hungry for community. Your publication can help them feel a part of your community by selling logo-ed items, hosting events, and so on.
The e-commerce module of MagHub’s ERP platform helps you easily sell hard and soft goods, as well as tickets to events, back issues, ads within your publication, and more. You may already be doing so, yet our platform streamlines this process.
We walk our talk, by the way: Check out our own e-commerce store and then click on the menu tabs to see the different things we sell there, including logo-ed mugs and t-shirts and even old-school pocket notebooks and socks. (We’ve found one can never have too many socks!) We’re also selling tickets to our MagHub Fall Forum 2019 as well as different MagHub/Aysling training opportunities and additional support services.
To see another view of an e-commerce site, take a look at what we believe is an example of a solid e-commerce storefront. And it was completely built within the MagHub/Aysling ERP platform.
Ready to open up a new and lucrative stream of revenue and branding opportunities? Then contact us about how our e-commerce module can help you build a great online store. You also may call us at 844-696-2448 or 734-997-9500.