While traditional advertising in newspapers remains under intense pressure, there are still opportunities to generate new print revenues.

Sandy MacLeod, vice president/consumer marketing & strategy at The Toronto Star, shared a number of print opportunities that may be applica­ble to your market.

 Some of those were:

• Utility products: “Starweek” and “That’s puzzling!” Instead of eliminating the TV Books from its portfolio, Toronto Star decided do a market research that proved 50% of people were still interested in reading these books. Of those, 90% were willing to pay for it.
  
  So the news media company created new TV books, which were 50% thicker. And 250,000 opted in to buy these titles. The only mistake they made? The price that was set too low.

• News products: Additional news product were created. They prepared a special New York Times 16-page section for the Saturday edition. Also, a new World section appeared in Saturday edition. Due to these enhancements, raising of the price of the product was rational and understood by consumers.

• Reverse publishing: Two years ago, Toronto Star purchased “The Kit,” an online magazine. Today, it is a multi-platform beauty and fashion magazine that includes interactive magazine app, Web site newsletter, and weekly newspaper section.

• Generating incremental revenue driven by producing event-specific newspapers. Because of special events, special dailies are produced for the time of festivals.

• Star Business Club: An integrated programme that combines print online and in-touch points. Sponsors are positioned as experts in the small business field.

Summarising his speech, MacLeod shared with delegates his thoughts on what it takes to win in print:

• Think consumer revenues as well as advertising.
  
  
• Use panel research as an inexpensive way to test the market for new products.
  
  
• Use focus groups to review concepts.
  
  
• Focus on the proper allocation of resources.
  
  
• Make room for innovation.
  
  
• Be critical with your business plan.
  
  
• Test, fail fast, and move on.

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