Sure, most magazines fail within the first 10 years of operation. But there are things you can do to help make sure your magazine won’t be one of the casualties. Here are five checkpoints to consider as you look at the future of your magazine.
1. Checkpoint One: Your magazine’s mission and editorial, marketing, and design philosophy. How long has it been since you’ve reviewed your magazine’s mission? Does everyone on the staff know why your magazine exists and what purpose it was designed to serve? A clearly and tightly focused mission will help you to stay on track as you make day to day decisions, selecting articles, designing pages, and marketing your magazine.
2. Checkpoint Two: Know your audience. Do you know who your audience is and who you want it to be? One American magazine for college students was alarmed to find some 15 years after it was founded that the declining audience was composed mainly of people in their late 20s and early 30s. What happened? As the editorial and design staff aged, they failed to keep up with the tastes and issues faced by their supposed audience, and little by little the magazine grew older with the staff. Do you really know the audience you’re trying to reach? The more you know about your audience, the better equipped you will be to produce a magazine they will want to read.
3. Checkpoint Three: Your marketing plan. Are you continuing to look for new ways to get your magazine to your prospective readers? Have you explored new options as they’ve become available? Especially with a small staff, it’s easy to focus on producing the magazine and to forget to budget time to consider how you will get your wonderful product into the hands of readers.
4. Checkpoint Four: Your financial situation. Do you have a budget and are you keeping track of expenses? Do you have a fairly good idea of how much it will cost to produce your magazine next year and how many subscribers, advertisers, or donors you will need in order to continue to produce the kind of publication you now have or would like to have? A carefully-prepared budget and financial plan will make it possible to gauge your progress throughout the year and will alert you to potential problems or the need for an infusion of cash or a course correction.
5. Checkpoint Five: Are you continuing to learn your craft? Magazine publishing is changing rapidly. Are you keeping up with trends in magazine publishing and those that affect your audience? Design styles are changing and the expectations of consumers are changing, as well. It’s easy just to continue doing what you’ve always done and the way you’ve done it. However, those who continue to learn, whether through formal training or keen observation will be better equipped to produce a quality publication that continues to appeal to its market..