Every newspaper wants to generate $1m dollars upwards in new business revenues from its fixed cost base in the first 12 months and this is how you do it.
Define your premium package from featured, syndicated, print and voice and prepare your sales PDF - examples here
Step 1: Create a range of packages that offer the event premium services on subscription plans so tap in the various monthly budget in your local area.
- $150 - 'x' events per month - 12 months / subscription
- $250 - 'x' events per month - 12 months / subscription
- $500 - 'x' events per month - 12 months / subscription
- $1000 - 'x' events per month - 12 months / subscription
Step 2: Sell these packages on 12 months minimum monthly subscription contracts
Step 3: Allocate sales and marketing resource to achieve $12k in subscription revenue per month from the first month. Your options include dedicated and account sales reps directly selling and up-selling to supplied leads or key accounts.
- 4 reps at $3k per month
- 12 reps at $1k per month
- 22 reps at $500 per month
Here is how the model compounds over 12 months.
Once you have your first million dollars, retention and continued sales is key to getting to your next milestone of $2m.