CoPress

The Yale Daily News hosted the “Conference for Newspaper Business at Yale”  Friday and Saturday, gathering the student leaders of the business sides of a bunch of college newspapers. Representatives from Yale, Brown, Stanford, Columbia, Cornell, Tufts, Duke, Georgetown, Boston College gathered, including myself representing CoPress and Penn.

Over the two days, we heard from speakers working in the media and marketing industries. But the most valuable part of the conference was the roundtable discussions and workshops discussing the common problems and solutions that college newspapers face. Far too little communication happens between different college newspapers, and that means that the practices and strategies that work well at one place aren’t passed on to other papers.

That’s why conferences that bring together people from different publications are so valuable, and that’s part of what CoPress is trying to do by connecting people from different schools to share their questions and solutions.

As it turns out, we all face a lot of similar problems.

Ideas and topics discussed at Yale

Chief among the topics of discussion was how to make more money and how to make more money online. In the sessions I went to we explored alternative sources of revenue, ways of improving local advertising and website projects.

Among the alternative sources of revenue, many schools explored raising funds from alumni donations and selling subscriptions to parents and alumni of students. This allows many of them to maintain an endowment which can provide steady funding even when the advertising market suffers. Several were exploring a store selling branded merchandise and prints of photos and the paper. Another popular feature is graduation announcements, where parents can buy something similar to a yearbook announcement in the final issue of the paper.

But of course, advertising is still the core source of funding for any newspaper. Roger Lee, a co-founder of PaperG, gave a presentation on how to engage local advertisers. One of the key points of his presentation was to bundle print and online ads together. Since print ads still command higher rates, this prevents online advertising from cannibalizing print revenue.

Online, papers are looking to expand in several ways. Many want to move beyond news and multimedia to providing more types of information to students. Among those ideas include:

• Creating guides to local restaurants and businesses
• Listings of campus events
• Professor ratings
• Selling prints and licenses of photos (with this though, it’s careful to avoid running afoul of NCAA rules for photos.)

What other ideas do you have to make your student publication more profitable and more successful? Or what do you want to know about how other student papers operate? Let us know in the comments!

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.

Recommended links for the weekend:

• It’s the season of new sites. On Wednesday, we helped Brian Manzullo take the new CM Life live. He has since written a thoughtful post to the community, as well as a more detailed post about the new features of the site. Late last night, a new, more Drupally Daily Tar Heel went online. Andrew Dunn, Sara Gregory, and other staffers give a short introduction and talk about their plans for the upcoming year.
• Bigger Isn’t Necessarily Better When It Comes To Online Ad Formats – “The study, which was based on 2,390 online display campaigns running over the past three years, found that so-called “half banners” (those measuring 234 x 60) and rectangles (180 x 150) were more effective than ads that frame the page such as high profile leaderboards and skyscrapers.” (tks Joey Baker)
• Will Davis deserves significant props for the amount of work he’s been doing to improve the wiki. The focus of what he’s doing is configuring Semantic MediaWiki to make all of the semi-structured data on a newspaper profile available in aggregate form. We now have over 120 newspapers listed in the directory; if you see that yours is missing detailed information, please add to it!
• Max Cutler would like to see a “feature matrix with links for college news sites.” I’d like to see that, as well as a page on the wiki dedicated to just brainstorming and listing out new ideas. For instance, in the forum, Brian asked about a “breaking news” box that could occasionally appear on the home page, as well as ideas for sweet author pages. It would be great if we could capture these on the wiki in such a fashion that, if I wanted to get some inspiration for author pages regardless of CMS, I could go to that page to see what other people have done.

Help us out with the curation process by joining the CoPress Newsgroup.

College media is a funny beast. It seems to lag about a year to three years behind the mainstream media. This applies web-first thinking, blogging, web site design, and monetization. So, this weekend, when the CoPress forum became an active discussion of CPM vs CPC vs CPD ad models, I couldn’t help but grin twice.

First, because this is a conversation that the rest of the media had a few years ago (and has never resolved), and second, because this struck on a particular passion of mine – monetizing online media. (Go figure, the Business Director is interested in monetization)

The following post is an expansion of my forum comments, and still worth a read if you’ve already been through the forum.

The Current System

There are really three ways for advertisers: by impression, by click, and by time period (usually day). Of course, there are hybrids of all three models, which the top ad networks utilize (Facebook, Google). The issue, is that all of these models have some inherent flaw. CPM doesn’t reward for the effectiveness of an ad, CPC necessarily reward high traffic, and CPD, while it guarantees a nice minimum about you can make, has both of the same issues.
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Eric Ulken has a forward-thinking post on OJR about how BusinessWeek is going beyond page views and unique visitors to define their audience. Internal metrics, things like the number of comments on a story, number of return commenters, and so on, could be exponentially more powerful if you managed them with a CRM database tied to your CMS; that is, not only keeping track of the blind numbers, but also associating those numbers with people, or your community.

There’s a related discussion on advertising rates in the forum right now. Just think about how you could sell advertising much more intelligently with better data and you’ll begin to get the picture.

The background

College news organizations need to move beyond advertising. Now.

Hold that thought.

Some background: The topic of generating revenue to sustain news organizations has begun to consume my thoughts about journalism. There are a number of reasons why, but this mostly came after a little meetup last Saturday in DC called RevenueTwoPointZero (Rev2oh on Twitter).

This isn’t the first time our humble CoPress crew is talking about the business side of journalism. Namely, check out Joey Baker‘s post from December, “But we make all our money from newsprint!”.

But why? Aren’t we just about technology and college news sites?

No. That’s a main theme, but we would be remiss if we left revenue off the table. It’s hard to run a news site without money, unless you’re an exception.

Actually, one of our three main goals directly relates to making money: We want student news organizations to generate more online revenue by having full control over their sites.

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Host: Bryan Murley

Guests: Brad Arendt, Boise State Arbiter; Kevin Schwartz, Daily Tar Heel; Max Cutler, Yale Daily News; Joey Baker, Daily Orange

Summary: A comprehensive introduction to the current state of online newspaper monetization. Most student newspapers make less than 10% of their overall revenue from online, and the limitations seem to be a lack of infrastructure and inventory. The Daily Tar Heel has had success with Heels Housing, an interactive student housing guide, and Max Cutler recommends Google Ad Manager over OpenX because of its relative ease of use.

Related: Forum discussing strategies for monetizing online

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We’ve got a problem at The Daily Orange: our ad revenue is shrinking.

Sound familiar? A newspaper that’s having trouble making ends meet!?

We were having such difficulty balancing our budget, that we cut our print Friday edition (we still publish online).

The Daily Orange is an independent student newspaper. “Independent” means that we receive no money from the academic institution that we cover (well… they don’t charge us rent; but, that’s the only help we get). We pay a heavy price for the freedom to set our editorial content – we rely on print advertising for nearly all of our income.

This is a problem. As we’re forced to slowly transition toward an online newsroom, we risk abandoning the money making print edition. This scares our business manager to death. It frightens our board. We all know that the internet is the future, but can’t see a way to monetize online content.

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