What Does Revenue Diversity Look Like?
April 17, 2015
You know you can’t truly be a BtoB, digital-first publisher without multiple revenue streams. And, it’s likely that you already have several in your pocket. However, it never hurts to take a little inventory so you can begin to think about what is working and how you might like to add something new.
Let’s look at eight revenue streams that provide a good indication of diversity and a little perspective on how you compare to other publishers.
Of course, at the base of all of this, you need a strong, well-managed data infrastructure—one that eliminates silos, integrates several sources and is constantly monitored for trends and updates.
1) Webinars. Webinars (and podcasts) are your base event offering. They are a great place to start and help you test and refine your approach to events. Your data will tell you what topics to start with, but make sure your host is a dynamic and competent presence with an existing audience rapport.
2) Videos. You know the power of visual content. Why not make it into something useful, as well as compelling. Again, you need a strong personality if you are using a host. If not, you need especially compelling visual storytelling to convey clear, useful info.
3) White Papers. These days, a lot of people treat white papers as an after-thought. They are actually an indication of forethought. This is a great way to collect registration information and provide useful content directly to your audience. It is often a door opener to a lasting relationship with your readership.
4) Live Events. As opposed to online events, live events get people in the room (or rooms) together and build synergy. Of course it’s intimidating to think about large-scale events and truthfully, you should only do that if there is a very clear need and demand for one. Start with niche events. Bring buyers and sellers together. Focus on a very specific theme and create circumstances that help strangers get acquainted and learn together. Decide if a conference, seminar, or awards event is the best way to start and go for it!
5) Third-Party Offers. If you aren’t employing a buyers guide or directory, it’s time to start. Then consider integrating third-party offers through your directory. Think about it this way: you want to be the comprehensive resource to readers in your industry. Often that means recognizing the value of what others have to offer and sharing it.
6) Reader Resources. Your registered readers deserve a little extra love. It’s true. So, make them special offers that expand their resources. Deepen the value of each issue of your publication by offering product and vendor information on those that were featured in a particular issue—or perhaps give them more background on a specific story: share the link to a full interview with the featured expert or an enhanced image gallery.
7) Spin-offs. Have a popular publication where certain topics are consistently hotter than others? Create a spin-off and watch it (rock and) roll . . .
8) Refine. Refine. Refine. Have you scrutinized your renewal processes, subscription approach and eNewsletters lately? Chances are there are tactics you can apply to improve the ROI on each.
These are just a few revenue streams that lie at the core of revenue diversity. Take some time to review and improve on those you have in place, then consider adding a couple more.