The main source of income for a magazine or newspaper is subscriptions and advertisements. However there is a third source in which to generate income and increase sales and that would be by offering Add-ons.
An Add-on is an item, like a DVD or book, that is often sold with, or added onto, a magazine or newspaper.
Add-ons can consist of:
- Creating an editorial series or a collection of enticing gadgets or digital devices
- Offering it to readers at an attractive price by utilizing an advertising campaign
- Selling it with the magazine or newspaper as an added option for a discounted price
The magazine and newspaper business is different in every country, but every publication has:
- Strong brand awareness and credibility
- A huge distribution network
- The ability and power of self-advertising
These are all aspects that can be used to take advantage of the Add-on opportunity and be helped by it.
Why magazines and newspapers should offer Add-ons
- Promote sales – Add-on products will attract new customers that would not normally notice the magazine or newspaper. Furthermore, when the new customers begin buying the magazine or newspaper in order to receive the Add-on, a portion of them will want the entire series. Therefore they will continue buying the magazine or newspaper until they have the complete series. By then they will have fallen in love with all the features in your magazine or newspaper and continue to be a customer.
- Generate new income to increase profits – When selling an additional product you will receive added income depending on the profit margin. If you want to offer it for free it you may be able to obtain the product for free by convincing the supplier of the benefits of marketing both brands together. This way you won’t incur a loss.
- Enhance the perceived value of your brand – By choosing high quality or respected products as Add-ons, the perceived value of the magazine or newspaper’s brand is enhanced. Furthermore, when people get a good deal on a product they want, they will cherish the source of that deal, which adds to the magazine or newspaper credibility.
The value offered
The value proposition offered to the reader when choosing a book series as an Add-on would be:
- An impressive book collection, which is unique, original and exclusive
- Offered for at least half of the normal retail price or if at a similar retail price, with high added editorial value from your magazine or newspaper
The only condition: To receive the Add-on at the price or deal offered, customers must also buy the magazine or newspaper.
Check out these real life add-on campaigns:
- Add-on case 1 – Abril
- Add-on case 2 – Reader’s Digest USA (to be published)
- Add-on case 3 – Poland (to be published)
- Add-on case 4 – Hungary (to be published)