Traditionally, conferences and events were the domain of B2B publishing, where revenue from events has been surpassing print and ad revenue for some time now. However, consumer publishers are discovering that events are an important diversification strategy in their market as well.
Getting creative with events
From pop culture festivals organized by the likes of New York Magazine and Entertainment Weekly, to kid expos and bridal shows set up by local news publishers, events allow publishers to get creative. In the UK, Time Inc. is branching out into cycling events to complement its titles Cycle Sport and Cycling Active while in the US, The Atlantic presents the Aspen Ideas Festival. Near our AdvantageCS headquarters, the Detroit Free Press even sponsors the Detroit Marathon. As diverse as these events are, the key is to create an experience that fits the publisher's brand and audience.
The most obvious reason to expand into the event space is that events can generate robust revenue. Events expand a publisher's platform not just for readers, but also for advertisers, and can be monetized through registration fees and corporate sponsorships. But beyond direct revenue, events have wide-reaching benefits. They create brand awareness outside of a publisher's normal readership, boost reader engagement and can be used to give subscribers or members special access. And events aren't just a platform for sponsors---they generate content and at the same time, subscriptions can be sold directly at the event.
According to Jason Taylor of Gatehouse Media, publishers should play to their strengths when they devise their events strategy. Leveraging market penetration, brand recognition and community partnerships is key to a successful start. The American Press Institute also recommends a strategic approach that includes a thorough analysis of the market and competition, as well as a comprehensive promotional strategy for events.
Event planning would not be complete without selecting software to promote the event, to handle registration, invoicing and reporting. AdvantageCS offers powerful conference and event functionality that is seamlessly integrated with our solutions for subscription management, campaign management and customer service, and allows attendees to sign up directly via our eCommerce platform Cider. If you are interested in how AdvantageCS can power your events, contact us and we will be happy to schedule a free demonstration.