5 easy ways to grow your online revenue! (and other get rich quick schemes)

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Presentation delivered for Magazines Canada Web Weekend workshops across Canada in 2008. Toronto, Calgary, Halifax, and Vancouver.

Business Actualités & Politique

5 easy ways to grow your online revenue!
(and other get rich quick schemes)

Presented by Phillip Smith
Web Weekend, Nov 24th
www.communitybandwidth.ca

The cost of doing business on the Web is
INCREASING

Magazine publishers are asking
“WHAT IS AT THE END OF THE RAINBOW?”

Some days, it would be easier to just
pretend this “Web” thing DIDN’T EXIST

The reality is that the Web has done more
for magazines than the printing press

5 easy ways to grow your online revenue!
(and other get rich quick schemes)

1. Slow and steady wins the day

2. The realities haven’t changed that much

3. Simple strategies are sustainable strategies

… by figuring out what numbers are important

… by experimenting, and then let the results
speak for themselves

… by creating regular reports
on actionable information

Strategy #3: Focus on GOALS and
CONVERSIONS

… because all sites have goals (so track them!)

… because everything is measurable online

… ultimately, it’s the conversions that count

… because the online ad industry is
consolidating

… because the real-life numbers are
surprisingly low

Available inventory 100,000 views / impressions

Divided by 1000 (CPM) 100 units

Multiplied by your CPM rate $10 - $30

Equals $1000 - 3000 / month

… because the real-life numbers are
surprisingly low

… because subscriber acquisition, and
retention is less expensive

… because of expanded reach and potential
audience

… because feedback is instant and the
opportunity cost is low

… when you plan for a cost-neutral Web
operation

… when you are purposeful with online
marketing & promotions

… when you close the loop: going from offline
to online

SIMPLICITY: ISN’T IS SIMPLE?

Simple strategies are sustainable strategies

… by focusing on quality traffic, as well as quantity

… by using micro sites, blogs, and syndication (RSS)

Strategy #3: And -- finally! -- social networks
(Facebook, MySapce, etc.)

… because they’re Low-cost promotional vehicles, e.g.:
events, new issues, etc.

… because Lots of “Web 2.0” and media tools are
baked-in

…because SNS = traffic. And traffic equals….?

Will magazine publishers be able to finish
the marathon?

The opportunity is to move innovation from
projects to operations

What does your training program look like?

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