the media consortium 2014 conference: revenue panel
Post on 13-Sep-2014
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This deck was shared with participants at The Media Consortium's Annual Meeting end of February, beginning of March of 2014. Three panelists rounded out the revenue talk, Pat Kitano of the Breaking news network talked about his #Support News crowdfunding platform, Mike Antares of TX Observer brought fresh ideas and proven methods that have sustained the Observer for decades, and mwa - Lisa Skube - offered this deck to launch the discussion - a transformative perspective for indies to start with an audience "service design" with tips & ideas how to diversify the revenue mix. An inspiring collection of publishers, producers, ethnic media makers and social change agents. Networking, conversation, breakouts and beer parties brought high impact indie news together for collaboration and learning. There was even a two hour conversation with Julian Assange (by Skype).TRANSCRIPT
Revenue 5.0? Let’s start with 2.0!
JournalismAccelerator.com
2014 Annual Conference: Chicago Revenue Panel
“How to make money”
@lskube | JournalismAccelerator.com
“…best news about the news business is the gigantic expansion of the addressable market…
…total addressable market for news by 2020 is around 5 billion people worldwide…”
“How to make money”
“…we all have to get more sophisticated about defining and segmenting markets. It is critical to really understand the
who, where, when, and why to serve that massive market effectively.”
@lskube | JournalismAccelerator.com
@lskube | JournalismAccelerator.com
• Vet Demand = Articulate Value • CMS/CRM = Optimize Equity • Ask & Incentivize = Intel/Iterate • Future Proofing = Look Ahead • Expectations & Risk = Readiness • Diversify $ Mix = Sustainability
Game Strategy! More $
@lskube | JournalismAccelerator.com
Vet Demand: Product
Principles of product:
Understand how your product is used, of value, shared & extends identity
@lskube | JournalismAccelerator.com
Vet Demand: Product
Principles of product:
How to understand?
ASK
@lskube | JournalismAccelerator.com
Vet Demand: Product
Principles of product:
Why Ask?
To understand product requirements To fine tune community “touch points”
To deepen connection = lasting relationship = tapping the love
@lskube | JournalismAccelerator.com
Articulate Value Principles of practice/service:
Holding power accountable
Principles of product:
Serve the public ahead of any other interest
@lskube | JournalismAccelerator.com
Articulate Value
Value Proposition: journalism impact?
Sustainable democracy
Value propositions are also referred
to as “the customer promise”
@lskube | JournalismAccelerator.com
Articulate Value
Product and service combined:
Q: What is my identity?
of your
BRAND
@lskube | JournalismAccelerator.com
A:
Articulate Value Brand identity attributes: Access Experienced through touch points
Newsletter or Alerts or email or social (e.g. Ask for mobile # -- gain ability to share text)
Comment threads, turn them into forums! Events --- be creative !!! (online & offline)
Panels (online & offline) Website (integrate offline with online)
@lskube | JournalismAccelerator.com
Ask & Incentivize “When you’re running a nonprofit news organization, it can seem like you’re always asking people for money.
The reality is, you might not be asking them often enough.
We made significant strides with our membership program at the San Francisco Public Press this year. Along the way, we learned that we weren’t giving our supporters enough different opportunities to support our brand of local public-interest journalism.”
Lila LaHood, Publisher, SF Public Press
@lskube | JournalismAccelerator.com
Ask & Incentivize Survey Readers – let them weigh in on editorial focus
Pop Quiz – leverage humor or data in ways that engage readers
Poll Readers – to show power where the readers stand on a topic and post the poll results
Invite Feedback – to let readers know you think they’re smart and appreciate their perspective
Host Conversation –features or stories that are complex or critical to community, vet questions for a fixed period of time, invite questions from readers in advance - are they angry or hopeful? Fulfill civic promise, serve as “tour guide”
@lskube | JournalismAccelerator.com
Ask & Incentivize Create Revenue programs (!!!)
Referred to as campaigns, initiatives, outreach
What are your communities pride points?
Your publication/org is a “town square”
Events, panels, beloved civic leaders, music, affinity brands, other media
producers, other community groups?
@lskube | JournalismAccelerator.com
Ask & Incentivize Create Revenue programs (!!!)
Social Community: Convert to customer Subscription: Renew community w/impact Membership: Renew community w/ identity • “Affinity” Ambassadors – Brand Advocates • “Whistle Blower” – Build Feedback Channels • “Rewards Programs” – Track Kindness
• Participants in panels, events, source • Programs are expressions of identity
@lskube | JournalismAccelerator.com
Ask & Incentivize
Source here
@lskube | JournalismAccelerator.com
Ask & Incentivize
@lskube | JournalismAccelerator.com
Source here
CRM: Track & Optimize
“PauPress – a commercial CRM initiative built on top of the open source WordPress platform, designed specifically for content-rich workflows that are aligned with many of the needs of non-profits and journalists in mind: http://paupress.com/ “
@lskube | JournalismAccelerator.com
CRM: Optimize http://paupress.com/
@lskube | JournalismAccelerator.com
CRM: Super Power Future Proofing = Look Ahead Expectations & Risk = Readiness
Trusted Advisors You are “the source”
Know your community They will reward you
@lskube | JournalismAccelerator.com
$ Mix = Sustainability Chasing Sustainability on the Net (collection of 69) The Jbusinessmodels101.com database reflects 1) business models and production concepts, 2) work processes, and 3) journalistic identities
@lskube | JournalismAccelerator.com
$ Mix = Sustainability
http://e-benchmarksstudy.com/
@lskube | JournalismAccelerator.com
$ Mix = Sustainability
http://e-benchmarksstudy.com/
@lskube | JournalismAccelerator.com
@lskube | JournalismAccelerator.com
A “neutral arbiter,” the JA brings online collaborative capabilities, serving as “connective
tissue” across siloed news efforts where communities share a common stake. Hosting a
shared conversation, showcasing emerging practices, analysis, resources and business
models.
Who’s JA?
JA design explored during a RJI Fellowship & seed funded by The Patterson Foundation.
@lskube | JournalismAccelerator.com
www.journalismaccelerator.com @journaccel facebook linked in storify
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