Stratton Publishing - Smart Publishing Summer 2009

Smart Publishing | Summer 2009 | Vol. 9, No. 3

Auditing Your Resources

Each day, many associations spend thousands of dollars on resources no one really wants, while overlooking those they do. Bottom line: you have to know what members want and then deliver it.

sp_special1 A Strategic Publications Audit or a broader Communications Audit--whether conducted by you in house or by an outside consultant--helps assess priorities and resource allocation--whether you're spending too little on design and too much on freelance articles; whether your publications are truly valued and your market niche is clearly defined; whether a big opportunity is waiting at the door; and so much more. Learning whether valuable resources are appropriately aligned to each of your organization's publications is critical to success.

Because technology enables publishers to launch new e-pubs daily if they wanted to, it's easy to create a new publication with little thought to strategic needs: For instance, a board member thinks members need more information about a particular topic, so based on one person’s opinion, a new e-newsletter is launched. When resources are misallocated, the whole organization can suffer.

A publication audit—or a broader communications audit—can stop the bleeding by gathering intelligence and assessing operations, including a publication’s value to readers; how well it fits the whole publications mix; whether the publication has clearly defined goals and missions; how it’s staffed and underwritten; and more. The audit then determines whether financial resources and staff time are balanced to ensure the most critical issues and publications get the most attention.

Follow these steps to audit your publications:

Review your publication’s financials for the past year. Look for areas of potential savings and/or waste. Assess expense categories (editorial, design, production, advertising, etc.) as a percentage of revenue to see where the money’s going. Consider whether staffing is appropriately allocated.
Study competitors. Assess your media kit, message, brand, and market positioning with your major competitors. Identify your market strengths and weaknesses.
Critically assess the last three to six issues of your publication. Be honest and look at what you’re doing right and where you can improve. Assess how well you speak to the audience, how well design enhances the reading and your overall brand, and whether you’re giving readers something they can’t get anywhere else.
Assess your electronic offerings and revenue potential. Compare your offerings with your competitors. Be sure you aren’t leaving money on the table.

Affordable Content

"Editors of association publications can do a lot without spending mountains of money on writing," says Chris Murphy, senior director, publications, for NAFSA-Association of International Educators, Washington, DC, which publishes International Educator magazine.

He's right. You can easily develop new feature and department content without breaking the bank with a few smart strategies. Among them: sharing resources among publications and reprinting strategically.

Try these tips to develop quality editorial content without breaking the bank.

Gang-Up the Work. Particularly if you have an established relationship with a freelancer you like, or even if you're working with a new writer for hire, negotiate rates for several assignments at once. For example, pay an economical flat rate per story with a six-story guarantee for the publishing year. The association gets the best bang for the buck and the freelancer has guaranteed work. This strategy can also help staff develop their editorial plans earlier.
Invite Outsiders to Contribute. Consider a Q&A with the keynote speaker or other high-profile speaker from your annual conference. Ask provocative questions that matter to your members-or ask the speaker to contribute an article. Perspectives from outside your industry or profession also make for fresh editorial.
Get Out the Red Pen. Make sure editors have enough time as well as the authority to effectively edit materials that are contributed by members and other volunteer writers. A publication's editorial policy should let contributors know up front that published materials will be edited to meet publications standards and style.
Share and Reprint Strategically. Make sure the organization's publications are all sharing resources and content. For example, can you repurpose e-newsletter content in the print magazine's news department? And consider reprinting an article-or part of an article-from another publication.

Market Intelligence Checklist

How much do you know about your readers? To ensure potential advertisers have the sp_special2 information they need to make a decision about your publication, you need data on several key measures. Miss one, and you may give the competition the edge.

To effectively market to advertisers, here’s what you need to know about your audience:

Readers' purchasing preferences and habits
Readers' buying power
How much money your readers spend on specific products
The timing of your readers' annual purchases
Value ratings and the usefulness of your publication to your readers
How your publication compares to others in the field.