Here’s an idea to steal and adapt: As a local news organization, you can solicit drawings from children and publish a special section thanking essential employees who have kept your community going throughout the pandemic. It’s a great way to provide some positive news — and generate ad revenue along the way.
Drive audience growth and profitability from a “mini-publisher” perspectiveSubscribe to Updates Drive growth and profitability in your chosen target audience segments and key publishing platforms by developing cross-functional “mini-publisher” teams and team leaders who use a general management perspective and strong sense of ownership and accountability to drive performance. Expand the scope of these teams’ responsibility beyond content creation, content distribution and audience development to include revenue generation, financial contribution and brand development.
Big Picture A primer on why you should use a "mini-publisher" perspective to drive audience growth and revenue
The competitive challenges confronting metro, local and regional news enterprises demand general management perspective and skill across the newsroom.
Plan Understand the gaps in your news organization and how to close them
Here’s an idea to steal and adapt: The Indianapolis Star created a playbook that helps journalists build a business plan for multimedia projects, including how to engage target audiences, acquire subscribers and increase advertising and sponsorships.
Three ways newsrooms can reorient toward getting content in front of the right audiences.
What gaps do you have in using the mini-publisher perspective? Use these tools to find out.
In order to overcome them, first understand the barriers to success at driving audience growth and profitability from a “mini-publisher” perspective.
Success demands shifting your news organization away from the church/state functional structure of the newspaper past to a portfolio of general manager led, audience-first, and platform-driven businesses – all of which are guided by senior leaders whose time and attention is rebalanced toward medium and longer term transformation requirements.
Bring together all the elements of success and sustainability in a mini-publisher “P&L scorecard.” The scorecard for a mini-publisher team has three parts: audience growth and value, market growth and share, and financial contribution.
Do Actions to close the gap
The criteria should combine assessing the audiences/platforms with the greatest revenue potential and the most readiness. Most importantly: deferring ‘getting going’ in favor of analysis runs a risk of not getting going soon enough. And, mini-publisher leaders and teams learn a lot by ‘just doing it’ – by learning about mini-publishing by being mini-publishers.
Legacy metros, locals and regionals have too few general managers overseeing too few businesses, products and services. Mini-publisher teams help close that gap.
There are four keys to success: Give mini-publisher teams a charter and ask them to put together plans needed for team success; regularly review and manage team performance; require mini-publisher teams to use the team discipline for performance; and provide mini-publisher teams with the background and support they need to master “economics for journalists” basics
Today, the most important job of senior newsroom leaders is to transform their newsrooms by putting the Table Stakes in place. Absent this, the newsroom – indeed, the whole organization – cannot escape decline into irrelevance and even extinction.