Know-How Exchange : Strategy

I'm going to answer the unasked question here:

Should you submit a marketing plan as part of a job interview?

I think the answer is no for two reasons:

1. You don't know enough about the company and its publications to do anything but give the employer something to find fault with.

2. Why would you give away the work product of your thinking and experience this way: how easy it will be for the employer to gather together all this good thinking from you and others, and then either pass it on to whomever they actually hire, or go ahead and figure they have enough information to hire either nobody or someone at a lower level.

I understand they've asked for it and you might not even get past interview round one without it, but my advice is to craft something that displays your capability without giving away the store.

As you know, advertising costs increase as the number of subscribers increase.

Printing and mailing costs are minimal if the subscriber base produces the advertising revenue you would like to receive.

Since we don't know much about the magazine, let's talk about two types of magazines.

First, generic or non-trade magazines. The subscriber base is diverse with some modest percentage of the subscriber base being targeted. For example, we can safely assume that subscribers of Forbes are interested in financial products. Subscribers of Time would be less targeted because that magazine is news focused and of interest to a much more diverse readership than Forbes. So, for the generic magazine, you need to have paid subscribers.

Second, trade or industry magazines. The subscriber base is extremely targeted. For example, Dr. Dobbs Journal is for computer programmers. Extended Retail Solutions has a targeted readership of Fortune 500 CFOs, CIOs and CTOs. These magazines are free to the subscriber and paid for by the advertiser.

So, which way do you need to go with increasing your subscriber base? The real answer lies in the type of magazine you're interviewing with. The exercise they want you to go through is valid to the point that they want to ensure you understand the business and competition.

Examine their competition. Develop a brief plan on what you would to do compensate for their efforts. Don't be afraid to say that you would give free subscriptions, but also follow that with placing the magazine in bookstores or magazine stables for people to pay for a subscription. Give free subscriptions to business owners who meet your desired target audience profile.