Week 5 – Income models
During week 5, we analysed and researched the income models which magazines use to increase revenue. This is a necessity particularly for new magazines coming to the market, like The Yorkie. It is a key component for a magazine to succeed; it allows us to identify how the publication will be sold by developing and establishing the marketing plans.
The various income models may include:
• Display advertising – This encourages engagement from the reader by grabbing their attention through format of text, image, video etc. This increases overall brand awareness.
• Classified marketing – this is a form of advertising mainly produced in newspapers mainly. However, newspapers do not allow images to be printed therefore print classified advertising is on the rise. This is considerably cheaper than display advertising but may not be as effective.
• Native advertising/advertorial – This type of advertising is found mainly online and caters to the consumer. It allows brands to lend the publisher’s platform which in turn creates revenue for the publication. However, customers may feel it is unnecessary which could deter readers.
• Branded media – This is designed to strengthen the relationship between the sponsor and publication by customizing what goes into the sponsor.
• Online programmatic adverts – This refers to the use of software which purchases digital advertising.
• External/affiliate links – We could put a link to the Yorkie website onto a different domain, meaning when people click it will take them to our site. Visa versa.
• Subscriptions – Subscriptions are a simple and effective way of generating income, this provides the reader with up to date content in return of a price.
Looking at income models for The Yorkie:
Native advertising – “Native advertising is the use of paid ads that match the look, feel and function of the media format in which they appear. They are often made to look like part of the webpage without exposing itself as an ad, unlike display ads, native ads are ‘non-disruptive’.”
Display advertising – “Display advertising is a type of online advertising that comes in several forms, including banner ads, rich media and more. Unlike text-based ads, display advertising relies on elements such as images, audio and video to communicate an advertising message.”
From researching the income models, I believe The Yorkie would benefit from native advertising and display advertising. Due to the fact it is produced and published in York, it will encourage local businesses and trades to promote their services as the magazine will predominantly be locally circulated. Display advertising will also create more brand awareness. The Yorkie advertisement could appear on third party sites, for example, local business websites, restaurants, cafes, events etc. This would support the production of this publication. From this, we are promoting what is available within the local community, creating revenue in turn and increasing The Yorkie’s visibility.
Thinking about use of images…
We have decided on minimalist theme throughout the magazine. I am writing about the ‘unsung heroes’ of York, volunteers which don’t get much recognition. I may be invited to do an interview with the volunteers, if so, I will ask if I can take still portraits of them. Similar to a self-portrait, only with their permission. The idea is to promote the work they are doing and give them the recognition they deserve. However, if they decline, I will look online for images which display helping, or volunteering. I will ensure my images I choose are free from copyright, making sure I use the right credit.
Minimalist inspiration:
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