Each day this week I will post about magazines from an overall business perspective in newsagencies. I am doing this because some suppliers think my submission to the ACCC of the proposed trial of new magazine supply rules I made on behalf of newsXpress reflects a move against magazines. Nothing could be further from the truth. I am fighting for fairness because of believe in magazines for the long term.

How to make magazines more profitable in your newsagency.

1. Manage your space effectively – i.e. NOT full face for slow moving title. This works well in special interest areas.
2. Track theft – look at the discrepancy report when doing your returns. Act on titles being stolen from you.
3. Track and manage the time you spend on magazines. Automate all processes.
4. Do not label weeklies and high volume monthlies – save time and money.
5. Look for bulk sale opportunities: nursing homes, businesses, community groups.
6. Offer putaways. Cutaway magazine customers are the most valuable type of magazine customer.
7. Early return when warranted – don’t become a lender to publishers on titles you don’t make money.
8. Pitch outside your business to show off your point of difference.
9. Review your floor space allocation for magazines. Is the amount of space allocated appropriate? Is it in the right location in-store?
10. Work your magazine traffic by placing products at each entrance to magazine aisles which magazine shoppers could purchase on impulse.
11. Place other products next to magazines.
12. Only use magazine fixtures which can be used for other products. Do not have fixtures purpose made.

For too long newsagents have been treated by magazine publishers and distributors in a paternalistic way. Just because we ask for fair and equitable supply so we can compete with others selling magazines does not mean we want to turn our back on the category. It means the opposite. We see a bright future for magazines if we can achieve fair supply.

Footnote: I am calling this magazine week for no reason other than to label the series of posts.

Each day this week I will post about magazines from an overall business perspective in newsagencies. I am doing this because some suppliers think my submission to the ACCC of the proposed trial of new magazine supply rules I made on behalf of newsXpress reflects a move against magazines. Nothing could be further from the truth. I am fighting for fairness because of believe in magazines for the long term.

How to drive repeat magazine sales in the newsagency.

Whereas supermarkets, petrol outlets and convenience stores rely on impulse purchases of magazines and purchases with other destination items, magazines in newsagencies are more often themselves the destination purchase.

We have to work harder at getting more of the purchases. Around 50% of over the counter purchases of top selling titles (by value) are made outside our channel – according to data from some magazine publishers. The key for us earning more sales back to our channel comes down to what we do to drive repeat business.

Here are some suggestions on ways to bring shoppers back, was for them to think of your business ahead of others when it comes to magazines:

1. Loyalty offer #1. A simple magazine club card. For years I ran buy 11 over 8 weeks and get your 12th free up to the value of $10. This worked very well- helping the newsagency achieve better than average results with magazines.
2. Loyalty offer #2. Offer discount vouchers on all purchases (except lotteries). This will generate cash people can spend on magazines. Done right, discount vouchers cost you nothing. In my own newsagency now our sales are well above the channel average and I consider the discount vouchers to be a key factor in this. Indeed, I have the data to show the positive impact it has on behaviour.
3. Actively promote putaways. Setup right with professional processes in place using your newsagency software you can be sure of bringing shoppers back into the business. Cutaway customers are more likely to purchase other items than regular magazine customers.
4. Tell people what you have. People who come in for one or two titles regularly may not know the range you have, create a small A5 flyer and slip this into each magazine you sell. Attract them based on range.
5. Promote ‘subscriptions’. Make it each for customers to purchase a number of copies of a magazine as a gift which you keep aside (cutaway) for the gift recipient. You can be more flexible than a subscription which is usually for a year and where product can often come damaged through postal delivery.
6. Offer an alert service. To let customers when new issues are out.
7. Promote and promote. Use email marketing and social media to attract shoppers back with product knowledge no other retailer will invest time in.

I don’t suggest a points based loyalty offer and that is seen by shoppers as the same as the supermarket offer – not worth much.

I see it as critical for newsagents to do everything possible to be the first location thought of when anyone considers buying a magazine. the ideas in this post are designed to get you thinking about what could work in your shop to encourage this and to drive repeat magazine business.

For too long newsagents have been treated by magazine publishers and distributors in a paternalistic way. Just because we ask for fair and equitable supply so we can compete with others selling magazines does not mean we want to turn our back on the category. It means the opposite. We see a bright future for magazines if we can achieve fair supply.

Footnote: I am calling this magazine week for no reason other than to label the series of posts.

Each day this week I will post about magazines from an overall business perspective in newsagencies. I am doing this because some suppliers think my submission to the ACCC of the proposed trial of new magazine supply rules I made on behalf of newsXpress reflects a move against magazines. Nothing could be further from the truth. I am fighting for fairness because of believe in magazines for the long term.

How to promote magazines outside your newsagency.

For too long magazine marketing and promotion by newsagents has consisted of putting up posters and doing aisle end displays as requested by major publishers. Some newsagents have merchandisers who visit to do this. My view is this traditional approach is a waste of time. The sales numbers suggest as much.

If you want to make the most of magazines and break free from what is traditional in your business in terms of sales you need to break free from traditional marketing. Here are my suggestions:

1. Talk about content. Step away from mastheads and promote stories, especially those in titles unique to your business.
2. Use social media. Twitter, Facebook, Instagram and Pinterest lend themselves to our of store magazine marketing.
3. Have conversations.  In store and online with your customers about topics in magazines. Engage with them.
4. Leverage unique value. If you have a value proposition which is unique to your business, leverage it, promote it.
5. Focus on unique product. Consider window and other displays and promotions for the titles not available in nearby supermarkets.
6. New this week. Setup a display somewhere i-store to display issues of unique titles new this week.
7. Did you miss this. When you have returned a title check for any particularly interesting articles in titles outside those sole in supermarkets and put these on a noticeboard – promoting what your shoppers ay have missed.
8. Create a flyer. Every couple of months create a flyer listing titles you sell in several segments which are not sold in supermarkets. This promotes your depth of range and reinforces your position as the magazine specialist.
9. Staff picks. Get them to choose a title every week or fortnight and place a card with this explaining why they choose it as their favourite magazine.

Sure some of these ideas require additional effort. That’s the point – to act beyond what is usual or average, to uncover sales you do not currently achieve. I am confident we can grow magazines sales. While I think we ought to make more, I think we have to put revenue ahead of that argument for now as our suppliers appear immovable on the topic.

For too long newsagents have been treated by magazine publishers and distributors in a paternalistic way. Just because we ask for fair and equitable supply so we can compete with others selling magazines does not mean we want to turn our back on the category. It means the opposite. We see a bright future for magazines if we can achieve fair supply.

Footnote: I am calling this magazine week for no reason other than to label the series of posts.