Niche Publishing Success: Information & Relationships
Oct 23rd, 2006 by Dan Blank
Marketwatch reports on the progress that magazines have made in their viewpoints on the value of the web:
“Publishers now routinely brag to me about how much their sites are being budgeted to contribute to the bottom line — one leading magazine executive was bursting with pride when he told me that his site will account for one/FIFTH of the magazine company’s numbers in 2007. I half-expected the man to pass out cigars, in triumph. The industry is no longer being dragged, kicking and screaming, into the 21st century.”
Scott Karp reflects on the strength that large media companies have in the market, despite an increase in competition:
“We are defined by the devices and applications we used as much as by the content we consumer… It all comes back to brand. There may be new drivers of brand loyalty in media, and the barriers to building a brand may have fallen away. But brands still rule.”
Matt McAlister asks this question, “How is a niche publisher to compete?
“First, catalyze relationships with and amongst people. Second, leverage the value chain as it is to your advantage. Paying more per word for content that is slow, static and hard to get to is a recipe for failure online.”
“What publishers do understand well is the role a media brand can play in facilitating meaningful activity in a community. The nature of the relationships with and amongst the community members have clearly changed. And high quality editorial is a piece of that relationship, one that reinforces trust and understanding, particularly in niche publishing where it’s harder to find good information.”
“The easy mistake to make is believing that because you have good information people will come. They might, and they’ll just as quickly leave if you don’t give them a reason to create a relationship with you or other members of your community.”