CoPress

In college media, the tendency is to regard the Web as a mere afterthought in terms of revenue. For those of us at college news organizations, however, the time to start perfecting our online revenue system is now, not in five years — when it’s too late and you’re bankrupt.

Capturing value on the Web can be overwhelming because the audience and approach is different from what we’re used to with print. Chances are that your Web site users are parents and alumni, meaning that you can’t translate ads directly from print to the Web. Advertising online means leveraging resources like Google AdSense and Amazon Affiliate links and tailoring ads to match your user demographics, which you can track using an analytics service.

Making money online doesn’t only come in the form of advertisements — podcasts, minisites, events calendars and other features can be monetized through sponsors. Giving out promotional code coupons on certain days of the week is a way to both generate traffic and engage users with ads.

To dispel a myth about online advertising, we must realize that ads online are not all about generating clicks and traffic to advertisers’ sites. The point of having advertisements on a site is to build brand among readers. A study shows that when exposed to branded ads, the impact may not be direct or immediate, but “users engage better and transact more with brands once they’ve been exposed to them. ” Even if they don’t click the ad, they’re still building brand recognition and creating value in those online ads.

But the key to good money will always coincide with good journalism. The better the site content, the more eyes will come to our news sites. More eyes means more advertising potential, which ties into everything we’ve discussed before; investing in your staff, creating a web-native newsroom, and constantly innovating from within.

What is your approach to online advertising or how do you regard it? What steps can you take to improve your organization’s utilization of the medium? Sound off in the comments.

Experimentation in the newsroom is one of the best ways to learn new skills and discover full potential of your team. Now that you understand why it’s time to innovate, how to create a web-centric newsroom and how to invest in your staff, it’s time to start experimenting.

To get you thinking, this video presents a few ideas as a starting point for your next staff meeting.

If you still need a little more ammunition, CoPress’ summer design camp has a great series of discussions about news wikis, landing pages and article layouts, among other ideas to get you started.  Our blog and wiki also have resources  about setting up a Facebook fan page, e-mail newsletter, web-first workflow and open-source software.

These are just a few of the project ideas we’ve discussed at CoPress. Do you have a better one? If so, head on over to our forums or leave a comment on this post and let the community help you brainstorm.

Innovation can’t happen without a knowledgeable staff, but a knowledgeable staff isn’t born into existence — it takes training and education on everyone’s part.

That’s what this video is all about: invest in your staff and make sure they’re properly educated for the Web. Furthermore, make sure that their education is a continual process. You can do this by encouraging the knowledgeable people in your newsroom to lead lessons over pizza lunches or by teaming up staff to compete on specific projects.

Investing in your staff isn’t only a matter of training, but of hiring the right people. Newsrooms should have at least one or two Web developers who are proficient in HTML/CSS, PHP, and/or Python to continue developing your website. Be resourceful about it; look to your college’s computer science department for budding programmers who have the skills and the passion.

You’ll be surprised at how many good ideas will come when you all sit down together and brainstorm. Don’t underestimate the power of team planning with your staff. Figuring out how your newsroom is going to work and grow together is the foundation for innovation. If you need conversation starters, we have plenty of ideas to get you started and even more on the way.

Now that we’ve shared a few our our ideas, let’s see yours! With the above video in mind, put the information into action. In the upcoming weeks:

Week 1: Plan a brainstorming session. It can be in your newsroom or on a camping trip or at an editor’s house. Make it fun and have lots of food. Make a list of all of the best ideas for how you can better implement the Web in your newsroom. It’s important that everyone is involved in the process.

Specifically, figure out how to (1) Start a Web-first workflow for all articles to be posted in a 24-hour news cycle, and (2) Generate Web-specific content like videos, slideshows and Twitter/Facebook/SMS updates. You can start a staff blog this week and write your first post about the ideas you brainstormed.

Week 2: Help every editor and reporter set up Google alerts for their section or beat as well as create a Twitter account to reach out to readers. At every budget meeting, require an aspect of every article pitch be based on feedback from readers on the Web. Start to build a strong community with your audience online and make sure it’s a two-way dialogue.

If you already have a Twitter account, this can be the week when you set up a system for publishing your editorial calendar for public feedback.

Weeks 3-6: Get out of the habit of updating your site once a day after the newspaper is printing. This is a huge step, so you’ll have to start slow. During this week, try not to post your articles online at 10 p.m. See how early you can post everything (and subsequently tweet the headlines), then figure out how your staff needs to shift roles to have a continuous flow of news throughout the day. This could mean changing the hours of your copy editors, changing deadlines for reporters and training everyone how to use the CMS.

Week 6-9: Really take control of live and breaking coverage. This can be as simple as posting event recaps (e.g. sports games, debates, concerts) online within a few hours after they’re over, because that’s when people will be looking. During those same events, post pictures and tweets that your readers will be interested in, and make sure to keep an eye on feedback from your users too.

Do they have questions? “Is #46 on the bench?” “How many people are at the concert?” Answer those questions. For breaking news like fires, robberies or protests, post as much information as you can as soon as you can. If it’s incomplete, that’s OK — but be accurate. Post updates as you go. Be sure to tweet the information too.

Week 9-12: After your staff starts to get comfortable with the Web, take on a big project like creating a system for an open editorial calendar, a continually updated news wiki or an iPhone app for readers on the go. All of your projects will feed on the other skills you’ve acquired: covering breaking news, thinking Web-first and encouraging community involvement.

Last but not least, report back! Let your peers know how your experiment went and what lessons you learned.

We hear it over and over again – “Innovate, innovate, innovate!” But what does that really mean in the context of newspapers, and why is it necessary? Let’s start by stepping back to see where newspapers went wrong.

Like we’ve mentioned before, the newspaper industry is a lot like the railroad industry, which essentially stopped growing because it didn’t transform its mindset. Because they failed to see the train as a part of the transportation business, they lost their customers to highways and airlines.

Newspapers are falling into a similar trap, but college media can change course before it’s too late. We should be the ones experimenting and taking risks. The students should be leading the way.

To quote Jason Calacanis, “Innovation is all you have. Once you stop innovating you lose your talent and you lose the race. Never. Stop. Innovating. Never. Never. Never.”

What is innovation really, though? Innovation is experimenting and taking risks. Innovation is trying what’s radically new.

After you take a look at the video above, be the innovator in your newsroom. Play it at your next staff meeting, e-mail the link to them or even post it to their Facebook walls. We have an entire series of videos coming for you in the following weeks to help your entire newsroom understand how to step ahead.