I attended the Specialized Information Publishers Association (SIPA) meeting this week. This group included publishers from around the world. Most publish some sort of electronic or print newsletters. One of the biggest issues on these publishers’ minds was how to get the business model right. How do we make money in this environment where so much is free? Here are 7 great ideas I heard:
- Webinars – Webinars are hot. If you have great content and a solid list, there are many opportunities to market live or pre-recorded Webinars. And, figuring out your own tested, solid marketing model is key (i.e. knowing what works and what doesn’t).
- Create packages – B2B prospects readily purchase a package of items when it appears to be a cohesive set of items which, if purchased separately, would cost a lot more.
- Audiocasts – like Webinars, podcasts can be a great warmer to for-fee Webinars.
- Market creatively – there are so many interactions to engage prospects – immediately after a purchase, right after a Webinar, soon after downloading a white paper. Don’t leave any stone unturned.
- Subscriptions – think about ways to make your products recurring subscriptions. Even if your product is currently a one-time purchase, position it in such a way that customers anticipate an update next year, and you just might see many more "renewals" next year when the next edition comes out.
- Marketing partners – find companies that sell complementary products, and try to get them to sell your products. No individual deal may grow revenue significantly, but, in total, you can yield some very solid, six-figure revenue gains.
- Test everything – as you market, don’t forget to test heavily and measure your results. Companies that track their results carefully are able to make much better decisions. For example, be sure you know which marketing channels work best for each different product or product type.