Why invest in digital publishing and start your own digital magazine?
Digital publishing and eMagazine markets are flourishing. Revenue in the "eMagazine" segment amounts to US$1,784m in 2017 and is expected to show an annual growth rate (CAGR 2017-2021) of 13.8 %, resulting in a predicted market volume of US$2,990m in 2021. The numbers show no sign of flagging as the average revenue per user (ARPU) currently amounts to US$18.37.
Apart from the numbers that clearly indicate a good future, publishers are able to capture data about readers that they have never seen before. An argument which is clearly strong enough in itself, as it means that the readership can be one of the biggest assets of a company or a brand. Data should help you to transform your readership to a community which results in long-term commitment, customer engagement and brand loyalty.
Still, digital publishing and digital magazines can be something brands struggle with. But there are a couple of certainties - magazines are personal, they offer a unique voice and address subjects of individual interest. Everything that is in line with today’s sales trends and typical customer behaviour.
There are a couple more reasons why publishing a digital magazine is a smart business move. Firstly, people have always loved magazines. Now this traditional media connection allows you to subscribe to many more titles online. Secondly, content – imagine being able to say everything you have always wanted to about your brand. Still, one should always keep in mind that a high quality publication should have a meaningful structure and include content relevant for its readers. Finally, the connection – not only with your readers, but also the connection between the opinion leaders featured within each issue and your customers – by creating a space and having a community it makes sense to find some synergies and find appropriate advertisers that would fit with your publication. A great example of an interactive digital magazine that have increased readership and engagement with good content, versatility, creativity and forward thinking is Back to School magazine (see a case study here).
Traditionally, a magazine is an incredible way to forge new collaborations, it’s an outlet for creativity, and a powerful way to showcase stories. Why should it be any other way online? Furthermore, a digital magazine is essentially a channel that can keep your customers engaged all the time, enables them to share your content, and ultimately drive them to your website and into your sales funnel faster and more efficiently. And by using smart tools, it is also a channel that can be completely personalized in terms or branding and content.
Ultimately, knowing your customers, what they want, their individual preferences and engagement data is what all is about. So investing in digital publishing and digital magazines is a great way to reach and get to know them.