So Which Is It...Custom Publishing or Content Marketing?

The subject of this post is really a trick question...Simply because custom publishing and content marketing can be the same thing.

'Says Joe Pulizzi, founder of content marketing specialists Junta42: “We decided to go with ‘content marketing’ because brands didn’t get it—they automatically thought book publishing or print. The idea is that marketers need to be publishers today. When you talk to a brand, they get it right away.”'

The golden nugget in all things publishing has, is and always will be "King Content"...I've drilled this fact into many posts and other presentations. Success will be predicated on how we can mold, massage and present content...for whatever purpose.

FOLIO magazine presents these details by Matt Kinsman and Tony Silber:

The Content Marketing Revolution
How is content marketing a different business for publishers?

Each year the publishing world seems to become enamored with a new strategy that will redefine the industry. In 2011, that’s marketing services. Last month, Penton Media bought Washington, DC-based EyeTraffic Media, an online marketing firm, and in April is expected to announce a company-wide shift toward marketing services.

“If you look at Outsell, they say 60 percent of a marketer’s internal spend is going to their Web site and that it’s the biggest pain point,” says Penton senior vice president of marketing services Kim Paulsen. “We want to help companies do a much better job of utilizing their Web sites with great content and understanding social media. Companies all say they need a Facebook page or a Twitter feed, but they’re not sure what to do with it.”

Under the umbrella of marketing services comes “content marketing,” which really isn’t much different from custom publishing, it just sounds sexier (and more dotcom-friendly). “If you look at branded and custom content, it’s all the same,” says Joe Pulizzi, founder of content marketing specialists Junta42. “We decided to go with ‘content marketing’ because brands didn’t get it—they automatically thought book publishing or print. The idea is that marketers need to be publishers today. When you talk to a brand, they get it right away.”

Three big factors are driving the content marketing boom—brands’ focus on social media, search engine optimization and lead generation. “You need unique content for any of those three to work well,” says Pulizzi.

WATT Publishing is seeing dollars go to three particular areas online: ROI Integrated Marketing Programs (“After three long years of evangelizing measuring programs, we’re seeing traction,” says director of e-strategy and marketing Jeff Miller); virtual events; and custom programs/content creative that includes social networking and video. “We are providing a variety of new services including ‘ghost blogging’ and producing content intended to boost SEO,” says Miller.

A New Business Model

But while publishers may have offered successful custom publishing services in the past, content marketing as a business can be radically different from traditional publishing, from the client relationship to pricing and sales cycles.

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Converting Content Into 'Paid' Content (Oh, Brother!)

Paid content is actually growing in popularity...I could hardly believe it!

But, how do you monetize good content? There are several models for paid content that are being experimented with...and successfully at that...

This from FOLIO magazine's Executive Editor, Matt Kinsman:

Building a Business on Content Sales
Publishers explore different pricing models, products

The appeal of paid content is growing. Last month, The New York Times embarked on one of the largest tests yet around paid content, introducing a subscription plan for the heaviest users of its site. The plan offers three digital subscription options across a variety of devices. All Digital Access-Web site, tablet, smartphone-costs $35 per month.

Meanwhile, printer R.R. Donnelley acquired Journalism Online and its Press+ service, which enables publishers to offer a variety of paid and metered content plans as well as mobile/tablet access, enhanced site functionality, and out-of-market-access.

However, paid content is far from a slam-dunk. The Atlantic has backed away from the launch of The Atlantic Premium, which would have offered a daily bundle of its online content for a monthly fee. "We're taking a step back on our entire mobile/digital strategy and revisiting everything right now," says president Justin Smith. "We're looking at the data from our apps so far and it begs the strategic question of whether we would consider any kind of metered model on the Web site. We're not ready to make that decision at this point. Our current high-CPM, ad-supported model is working."

The New York Times recently announced a 26-week deep discount to try to get readers behind the new paywall (The Times says that more than 100,000 users are paying so far).

Manageable Solutions

Smaller publishers are getting onboard as well. U.K.-based luxury title Lusso Magazine has introduced micropayment options for online premium content at its Web site that offer access to full-length features across up to five different devices. The payments will be processed through PayPal. While purchases are only made on the Web site (which receives about 40,000 unique visitors per month), a user can re-enter a supplied voucher code to read it on another device.
While b-to-b publishing historically has been built around the premise of free content, it also has the best chance for converting to a paid model.

And not everything requires paywalls or metered programs. Last fall, UBM Electronics' EE Times launched EE Times Confidential, a premium, subscription-based intelligence report. The report is a downloadable PDF that is currently published monthly and will increase to twice per month later in 2011 (a Web site offering current issues and archives will also be launched).

"When ad money is dwindling and whatever we do is defined by how much money we can bring in, [editors] are in a difficult situation to justify our existence," says EE Times content chief Junko Yoshida. "We've grown up in a world where the information is given away for free. We decided we wanted to change the game."

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The Economics of Content Marketing and Custom Publishing

The new growth business in the online publishing industry is a new strategy (perhaps just a revamped strategy) called 'marketing services'

New marketing services businesses, such as Outsell (and soon Penton Media), offer an array of flexible services to help publishers and commercial information providers identify and grow markets and revenue.

Custom marketing means something totally different in modern publishing than it did in traditional publishing (TP) and that's why TP people still don't get the importance of the newer business model concepts that can grow online money with lower margins than existed under the old TP models.

I just love reading about and understanding (when possible) the inside numbers and strategies that make a business (especially the publishing biz) go (or fail). I admit, upfront, that I'm no expert in this territory; but Matt Kinsman, managing editor of FOLIO magazine, has a lot of answers with this post in FOLIO:

The Content Marketing Revolution
Content marketing is hot but how does it compare as a business?

Each year the publishing world seems to become enamored with a new strategy that will redefine the industry. In 2011, that's marketing services. Last month, Penton Media bought Washington, DC-based EyeTraffic Media, an online marketing firm, and in April is expected to announce a company-wide shift toward marketing services.

"If you look at Outsell, they say 60 percent of a marketer's internal spend is going to their Web site and that it's the biggest pain point," says Penton senior vice president of marketing services Kim Paulsen. "We want to help companies do a much better job of utilizing their Web sites with great content and understanding social media. Companies all say they need a Facebook page or a Twitter feed, but they're not sure what to do with it."

Under the umbrella of marketing services comes "content marketing," which really isn't much different from custom publishing, it just sounds sexier (and more dotcom-friendly). "If you look at branded and custom content, it's all the same," says Joe Pulizzi, founder of content marketing specialists Junta42. "We decided to go with ‘content marketing' because brands didn't get 'custom publishing'---they automatically thought book publishing or print. The idea is that marketers need to be publishers today. When you talk to a brand now, they get it right away."

While print still dominates the custom market ($24 billion was spent on print production and distribution in 2010, compared to $3.6 billion spent on other forms of content according to a new report from the Custom Content Council and ContentWise), three big factors are driving the content marketing boom today--social media, search engine optimization and lead generation. "You need unique content for any of those three to work well," says Pulizzi.

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Digital Magazine Covers Now Mini-Movies!

And the world of complex content moves ever onward. At the recent MPA Digital E-Reading event, Esquire magazine introduced some of its unique covers that actually come to life as videos if you press the play button.

The already unique Esquire covers have become what I term "action-unique"...

Matt Kinsman of FOLIO magazine shares more detail:

VIDEO: Esquire's Mini-Movie iPad Covers

At the MPA Digital E-Reading event yesterday, several publishers shared "Two-Minute Drilldowns" of some of their best app ideas. Esquire associate editor Julian Sancton shared how the magazine has turned some of its iPad covers into almost "mini-movies," including live action direction of its subjects, such as "Sexiest Woman Alive" Minka Kelly doing her thing and actor Liam Neeson (a former boxer) throwing a couple shots at the cover/screen. (Sorry about the obligatory sponsor message but it's worth the wait.)

Read and learn more AND view a video "action-unique" cover

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More on Apple's Dictatorial Asininity

Please read my two posts on the Publishing/Writing: Insights, News, Intrigue Blog RE specific Apple issues with publishers' content management for background on this post.

Apple is further restricting access apps for other than Apple devices (e-readers, tablets, etc) to read mags and newspapers to be offered through their iStore...even to the point of forcing some to have to buy Apple's own iPad tablet if they want to read the iStore offerings.

At least, that is the way this humble boob interprets the situation.

In my past posts, referenced above, I discussed Apple's outrageous fee (30%) charged to publishers who want to sell their content through the iStore, AND the fact that Apple did not want to share the subscribers data with the publishers...A BIG mistake.

Me thinks Apple is getting too big for it's britches...and they should stick to selling devices and not messing with content and all it derives.

Wonder if Apple's deal with Rupert Murdoch's "The Daily" has influenced the "money-grabbing" messy management?

Apple is definitely not the only kid on the tablet block anymore (and probably doesn't even have the best tablet computer!) with the introduction of Motorola's Xoom among others.

I believe Apple is managing itself into the cellar...and they will need a completely "new device" to start over again. They are taking the bite out of their own apple!

Matt Kinsman, managing editor of FOLIO magazine, has more details RE Apple's tightening grip on content sales:

Apple Rejects Sony Reader App, Tightens Grip on Content Sales
From now on, all in-app purchases must go through Apple.

Apple has reportedly rejected Sony's reader app from the App store for selling content within the app and letting customers make purchases outside the App store (such as within the Sony Reader Store, according to The New York Times.

From now on, all in-app purchases have to go through Apple, according to Steve Haber, president of Sony's digital reading division. "It's the opposite of what we wanted to bring to the market," Haber is quoted as saying by The Drum. "We always wanted to bring the content to as many devices as possible, not one device to one store."

The news comes the day before Apple and News Corp. are supposed to debut News Corp.'s new digital magazine The Daily, and many observers predict Apple will use that opportunity to unveil a new subscription system.

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Who Controls Social Media?

From outside the publisher's world, no one should control social media from my blurred point of view. Speaking just as an outsider (my specialty) and everyday web surfer, I like to think everything "internet" is open and free with no underbelly of strategic plotting behind every damn piece of content to "hook" me into doing something that I probably really don't want to do in the first place.

Just let social media develop naturally and be formed (and, yes, controlled...if there must be any control) by those visiting for their own enjoyment and seeking like-minded folks.

But, realizing that many things (if not all) on the web are free due to a secret source of monetization coming from some damn hidden place, I have to put on my magic pragmatic glasses and peer into the sucky-sucky world of internet control for money, money, money. You know, advertising and marketing...with actual content coming in last most of the time.

So, going undercover inside the publisher's world with my magic glasses, I found some interesting insights into this topic from Matt Kinsman, executive editor at FOLIO magazine...Insight further honed from his attendance at the MPA's (Magazine Publishers of America) Social Media conference yesterday:

For Publishers, Who Are the Gatekeepers of Social Media?
Who gets the keys to the engine, edit, sales or marketing?

Ten years ago, as the prospect of monetizing Web sites started becoming a reality for publishers, different departments butted heads over prime real estate: editorial wanted it for content; sales wanted it for advertising; marketing wanted it for promotion.

Today, as the emphasis shifts away from publishers serving their audience on their own Web domain into places that are daily destinations (such as Twitter and Facebook), publishers are again faced with the question of who controls what (and it's even more important today because social media offers the chance to directly engage with--or alienate--your audience).

That was a key debate at MPA's Social Media conference yesterday. "Should all stakeholders be given the capability to tweet?" asked Matthew Milner, vice president of social media at Hearst, and moderator of a session called Who Controls Social Media at Your Magazine Brand? "And is the ultimate stakeholder necessarily editorial, or marketing, or could it even be the technology department, which may ultimately own the cost of social media?"

For Time Inc., social media is very much an editorial enterprise (last fall, a survey by The Wrap found that five of the 10 magazines with the most Twitter followers were Time Inc. brands). The publisher even maintains a team dedicated to fine-tuning Twitter captions. "Social platforms can be remade in your own image," said Jim Frederick, managing editor of Time.com and executive editor of Time.

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Mag Publishers Branching Out

In order to save money, and also seek new revenue in non-traditional functions, magazine publishers are taking on related tasks usually contracted out to vendors. Actually they are strengthening their own vertical (business model) in-house capability.

These tasks include such things as launching all kinds of media products, from Web sites to custom publishing, virtual events, databases, books, supplements and spinoffs...Afterall, if you're going to branch out you might as well stick to your core business and who knows what a publisher needs more than a publisher?

This magazine publishing branch-out (or in-house vertical strengthening, as I like to call it) kind of reminds me of what writers (novel writers as well as others) have had to do to break loose from traditional publishing "slush piles" and non-action by learning and taking on more of the tasks performed by publishing houses in the past...This all was made more possible and easier through the new digital technology. Let's all drink a scotch on the rocks to that!

Tony Silber and Matt Kinsman, reporting for FOLIO magazine, analyze it this way:

When Publishers Become Vendors

Dave Schankweiler, CEO and publisher of Journal Publications Inc., a Harrisburg, Pennsylvania regional publisher, remembers the day he became not just a publisher, but a vendor to publishers too.

Back in 2004, the company, which publishes the Central Penn Business Journal, Central Penn Parent, and NJ Biz, launched a new survey, called Best Companies in Pennsylvania. It used an outside survey firm to do the first report. The night the winners were presented was a huge success. "That night," Schankweiler remembers, "it was loud, and there was a countdown and a lot of excitement. And that's exactly when we decided to change the company, because we were coming down from the high of the event. We said, ‘Why don't we take this out into the market and do it as a service to other publishing companies?' "

Magazine publishers are by nature entrepreneurial types. They like to tinker with their businesses. They're incessantly launching all kinds of media products, from Web sites to custom publishing, events, databases, books, supplements, spinoffs. But there aren't a lot like Dave Schankweiler. Most media companies tend to stick to their knitting and limit their creative impulses to media products.

Some companies, though, are transforming themselves into a different kind of hybrid, media companies that have branched out into businesses traditionally occupied by publishing-industry vendors. Gulfstream Media, the Fort Lauderdale, Florida-based regional publisher is one. Gulfstream is the parent company of Magazine Manager, a popular ad-sales management software. UBM's TechWeb is another. TechWeb created UBM Studios, which develops in-house virtual events for tech publisher UBM as well as for external clients.

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E-Media Revenue Numbers - A Reality Check for Mags

Since the intro and explosion of digital media and publishing, how are the e-media revenues shaping up?

How are the profit margins changing?

What are the current realized earnings for small to large publishing firms now riding on the digital pony in the internet rodeo?

Well, for those who like charts and numbers (and interesting they are), I am presenting a great layout by Matt Kinsman, Executive Editor, at FOLIO magazine:

Digital is the priority for most publishers, yet many executives have had to re-adjust their e-media forecasts just as they did with more traditional revenue streams such as print and events. Online ad spending in the U.S. dropped 5 percent to $5.5 billion in the first quarter of 2009 and 7 percent to $6.2 billion in the second quarter, according to market analyst IDC.

Digital revenue remains relatively small, despite massive percentage growth in recent years (and massive slumps in traditional revenue streams). “Those who have been aggressively pursuing digital will likely see it between 8 percent and 15 percent of the overall revenue mix,” Deborah Esayian, co-president of Emmis Interactive told FOLIO: recently.



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Advertorials Pump Life Into Print

Marketing diguised as editorial or legitimate content is finding more receptive publishers who need the money to survive. But, these marketing advertorials should be clearly identified as commercials so as not to fool the naive and gullible.

Advertisers love this venue and are gaining more freedom of advertising control when they throw in the dollars. So, readers, as the old adage goes: "Believe nothing you read and only half of what you see!"

A few of these type of advertising models are springing up and getting around the accepted norm of clearly marking them with "advertising tags". One example given in the following article by Matt Kinsman, Executive Editor of Folio magazine, is Worth magazine:

Advertorials Give New Life to Print
But not labeling them as such is a mistake.
By Matt Kinsman 12/01/2009

Advertorials—the original "paid content"—are no stranger to magazines (FOLIO: does it too. See an example here.) Marketing that looks like content is always attractive to advertisers and as publishers agonize over plummeting print revenue and clients starting to do their own branded Webinars/events/lead gen, advertorials are a way to lure them back and maybe even hit budget for the first time this year.

Reader’s Digest’s Taste of Home recently said it will produce custom editorial columns that are more "synergistic" with advertisers’ promotional goals. Taste of Home created custom in-book sections that feature branded recipe cards for client Jimmy Dean that run next to the magazine’s own recipe cards section. According to RDA’s Taste of Home and Home & Garden Media Group vp and publisher Lora Gier, these sections are clearly marked as advertising and all advertroasial sections are "new pages" that don’t take away from existing editorial pages.

"The conversations we have are very strategic versus just discussing demographics and rates," Gier told FOLIO:. "We are winning exclusive business through these partnerships."

Advertorials Without the "Advertising" Tag

However, other publishers are pushing the boundaries of advertorials. A recent RIA Biz article gave a comprehensive look at a new advertorial program from Worth magazine, which was acquired by Sandow Media in 2008.

Worth charges financial advisors $2,495 per month or about $30,000 per year (the minimum commitment) to receive two-page profiles in six issues, free reprints, magazine subscriptions worth up to $11,000 for the advisor’s clients and a hard cover book with advisor profiles.

The article quotes Worth publisher Patrick Williams as saying, "Fifty-one million of assets under management just for the first issue. People say print media is dead but I have $51 million that says they are wrong." [It’s funny how marketers' complaints about print seem to disappear when they get to control the message.]

However, Worth isn’t labeling profiles as "advertising" but includes a sentence in the preamble of the profile section indicating they are paid for.

I’m all for vendor content and realize publishers (and editors) need to work more closely with advertisers but I don’t agree with advertorials that are anything less than clearly marked.

In 2006, FOLIO: did a cover story on the rise of Schofield Media Group, a publisher which at the time had grown to 10 magazines in the U.K., 14 in the U.S. and $40 million in revenue, thanks to a model that includes selling editorial case studies.

At the time, then Penton Media group publisher Terri Mollison said of Schofield's model, "How can any market derive what key trends or 'hot companies’ are worth reading about when the only criteria to select those companies is which vendors and distributors who are willing to pony up money to have accolades written about them?"

I wonder how many publishers are willing to take that same stand today.