Magazine Publishing

According to the article Start Your Own Magazine, 1,000 new magazines are published each year. Of this number, 90% will fail, usually right after the first issue has been distributed. The remaining percentage acquires more success, allowing the owner to return a steady profit.
So, what makes the 10% of successful magazines different from the 90% of unsuccessful ones? Well, sometimes it’s an issue of budget and celebrity status. For example, the Magazine ‘O’ has received massive popularity. But, unlike most startup magazines, ‘O’ has the backup of a billionaire… Oprah Winfrey.
She has the money and fame to get it marketed through every advertising venue available. Beginning magazine owners just won’t have that type of pr power.
However, do not think that you have to be another Oprah Winfrey to publish a successful magazine. In fact, despite the difficulties associated with magazine publishing, there are still a few average people that are able to get their foot through the door. Yet, since they don’t have money or fame to promote themselves, they must use a different approach… niche marketing. What is niche marketing? Niche marketing occurs when you advertise to a more specialized audience… individuals who are not getting their needs or wants met by existing companies. As a result, you develop a high demand for your product… a demand that won’t have too much competition in its supply, (since obviously you will be the main supplier).
To better understand the power of this concept, consider the example of Simone Gold, an emergency physician who launched the magazine MedicaLife. Instead of focusing on a general market, Gold decided she would go niche and advertise to people working in the healthcare industry. Her approach worked wonders as now MedicaLife is one of the top magazines in its market.
You can make niche marketing even more powerful if you find niches within niches. Sound confusing? Well, it isn’t really. In fact, if you use Gold as an example, there are tons more niches within niches you could find. For instance, you could launch a magazine just for Emergency Technicians. You could make things even more niche by launching a magazine for Female Emergency Technicians. Ultimately, the list is endless.
Yet, keep in mind that this is just an example. Don’t create a magazine for Emergency Technicians if you have no knowledge or interest in the subject. This is especially the case if you don’t have the money to outsource your articles, (something you’ll learn about later on). Remember, readers want pieces that are as informative as they are heartfelt. If your market feels you are not truly writing for them, they’re not going to be interested in buying future subscriptions.