This session, run by two faculty from the Iowa State Daily, Charlie Weaver and Annette Forbes, discussed ideas about how to generate maximum revenue for student newspapers.
The Pendulum does not have a representative from the ad team at the convention, so I thought that my position of multimedia editor still lent itself to this topic. Also, in light of The Pendulum’s new location, the staff needs to develop new ideas to generate revenue. I thought Weaver and Forbes offered great ideas that blended a web presence with traditional print journalism ad sales.
They showed examples of successful niche publications associated with the Iowa State Daily, including a dining guide that contained photo galleries, links directly to a restaurant’s website, summaries, directions and expanded menus. This page provokes advertisers to purchase ads in the print publication to promote the listing page affiliated with the respective restaurant.
Other ideas included “Flavors,” a food website and a fashion page. They also created a website that functions similarly to the dining guide, but features house rentals.
Forbes cautioned students not to sell ads without a multimedia package. According to her, the idea of multimedia packaging is providing the client with a 24/7 presence.
Cooperation from both the ad reps and editorial team is vital. In order to develop a niche media website that successfully generates revenue one needs to understand the needs and demands of the community and students.
“Don’t build something that someone else is already doing successfully,” Forbes said.