4 tips for finding alignment with funders to support journalism

This is a series on Better News to a) showcase innovative/experimental ideas that emerge from the Knight-Lenfest Newsroom Initiative and b) share replicable tactics that benefit the news industry as a whole. 

This piece features tips from Michael Grant, CEO and founder of Get Current Studio. These insights were shared during a live Q&A session with alumni of the Table Stakes Local News Transformation Program in July 2024.

It’s a common challenge for news leaders: finding revenue opportunities that also fit within their organization’s capacity and mission.

Through embracing emerging technologies and finding engaging local connections, news organizations can develop new products and secure funding to support them, according to Michael Grant. He is the CEO and founder of Get Current Studio, an editorial design, web development and storytelling studio that specializes in working with publishers of color and local media.

During a July 2024 virtual session with alumni of the Table Stakes Local News Transformation Program, Grant shared what news leaders should look for when it comes to finding alignment with funders to support your journalism.

1. Consider a range of digital offerings to grow revenue 

Grant says that it’s an exciting time in journalism because “newsrooms are more willing to explore what products mean to them and to their newsrooms,” while building in value to help reach audiences and grow revenue. Revenue-producing opportunities include:

• Shared promotion with partners
• Branded or sponsored content
• Membership-exclusive benefits and programs
• Creating lists and guides for local areas and niches

The Houston Defender, for example, developed a sponsor and advertiser opportunity to support its Year in Review product. The 2023 version featured a dynamic and user-friendly landing page where visitors can navigate among Top 10 lists, notable moments and profiles of community members. Staff also filmed video recaps for easy viewing on social platforms. Multimedia elements like these, along with article pages, can be packaged for advertising.

Grant also says the Houston Defender is dedicated to the idea of being “the paper of record for important life events for segments of their audience,” including obituaries. For other news organizations, these community updates could also expand to weddings, engagements, anniversaries and graduations.

“It’s great to see a return of this kind of approach to audiences at the hyperlocal level, because there are products that could stand up and support that kind of work really well today,” Grant says.

2. Validate product ideas with audiences first 

“It’s really hard to build really great products that serve everyone,” Grant says, “But being able to zero in on a segment of your audience and serve it allows you to develop products that are sticky – that really meet [your audience’s] interests and perhaps their needs.”

Grant suggests writing down the different segments of an audience that you may want to talk to. Surveys, interviews and focus groups can help you with the crucial step of gathering data. Inviting survey-takers for a follow-up conversation can be a “real game changer for news organizations,” Grant says, especially when newsrooms are building products for an audience that they want to serve.

“It can be an eye-opening exercise: having everyone on the team who’s going to be a participant in building this product really understand what the goals are, what the needs are of your audience member, and then start to imagine what the solutions are.”

3. Communicate alignment with funders

Grant says leaning into your storytelling skills as a journalist can help greatly in your search for support.

One important key to finding alignment with funders: Telling the story of the challenges you’re working to solve with the product — or using data to shine a light on the gains, pains and aspirations of the target audience you’re hoping to serve.

“It really gives them a starting point to meet you where you are in your mission, and then try to figure out ways to fund your project,” Grant says.

Communicating the impact and reach of your project will strengthen your case for funding when the time comes to pitch your project. These questions can help you gauge impact from a funder’s point of view:

• How many people do we think the product can engage?
• In what ways do we expect to draw people in?
• Does the project engage people in a new, compelling or seamless way?

Listing out potential funders could be an easy task for some products. But for projects with a wider reach, Grant suggests looking at different local and regional organizations to approach as a partner or a funder. Consider:

• Collaborating with other news organizations to attract a national campaign or brand
• Corporations with a philanthropic arm
• Hospital and health care groups
• Local government and utilities
• Mission-driven nonprofit organizations looking to reach the same audience

4. Develop your pitch to funders and partners

Crafting a compelling case for funding can be a logistical hurdle for teams working to build and maintain revenue-generating products.

Grant developed a guide and template for pitching prospective funders, partners and clients. These resources were created for the 2021 Listening & Sustainability Lab from the American Press Institute and the Racial Equity in Journalism Fund at Borealis Philanthropy.

The slide-by-slide guide is designed to help you prepare for a meeting with a prospective partner by customizing the template for your organization and the investment you’re seeking. This method streamlines your pitch, highlighting your product’s objectives, the key statistics and the benefits of participating.