Introduction on how to start an Online Magazine Business in India: For several decades, India has been publishing papers and magazines. Today, most Indians can no longer enjoy the luxury of taking their morning cup of tea with newspaper, magazine, and other reading material in front of them. It prompted experts to come up with a different solution. Thus, online magazine formats are becoming increasingly popular in the Indian market.
Benefits of Online Magazine Business
Perseverance – As long as there is enough content to publish, the online magazines will continue to operate. The content from portal-based publications is always accessible, and they are also preserved for eternity.
Interactive – Online magazines have a strong impact on individuals. In these online versions, readers will find several links that redirect them to other sites.
Eco-friendly – Printing a magazine traditionally requires paper. Paper manufacturing is not eco-friendly since a large number of trees need to be cut down to manufacture it. It is therefore the most practical and environmentally friendly alternative to go online.
Cost-effective – Since online magazines have an expanded audience and readership, the subscription cost can be reduced by the publishers. This makes e-publications more affordable and cost-effective than printed publications.
A step-by-step guide on how to start an Online Magazine Business
Pre-production plans for Online Magazine Business
Craft a business plan – Regardless of the business you would like to launch, you need to formulate a strong business plan. The first step is crucial, and if this is not handled properly, failure will ensue. Your business plan contains guiding principles for figuring out the aims you would like to achieve and the ways you plan to reach them.
Gather information about target readers – Prior to beginning work on publishing an online magazine, thorough research should be conducted. It will provide you with data that can assist you in targeting your readership. In accordance with your target audience, you should tailor the type of content you will publish.
Analyze market potential – It is very important to keep up to date with your competitors in the market. They will be your direct competitors. Taking a close look at their business model and the content will give you insight into a portal-based magazine business.
Gathering required funds – Large as well as small magazines require adequate funding. In comparison to a print publication, there are fewer requirements. If you lack financial resources to meet the demands alone, you should make arrangements to acquire financing.
Create representation for the Online Magazine Business
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Select a proper name – As soon as you’ve done the planning part, you can begin your search for the perfect name. The selection of a name requires some thorough research since it should not only match the content type and target customers but also be unique.
Getting a domain name – An online website is a necessity for any virtual entity. A unique and catchy domain name is required to create a website. The first step to create a website is to register a domain name and in India, there are several domain registries and hosting providers like GoDaddy that provide hosting spaces for websites. You need to log on to the website, to verify whether the chosen name is available otherwise, you will need to start using a new name. Depending on your requirements and availability, you can receive a domain name between .com, .in, and .co.in. Depending on the site, domain packages can cost between Rs 500 to Rs 1000.
Attain hosting space – Once the domain name is registered, the next step will be to buy hosting space. Many companies that register domains also offer hosting services. Activating a website requires server space and is offered by the hosting providers. An annual subscription to this service can cost anywhere from Rs. 900 to Rs. 1500.
Desirable team for starting the Online Magazine Business
Once you have completed your business plan, your funding, and your market research, it is time to focus on the human resources department. It is impossible for an online publication to succeed without the dedication of its team. A team of writers, editors, photographers, proofreaders, and photo editors works on the project. Besides these, you need marketing experts, publication managers, sales managers, etc.
Content creation and posting in Online Magazine Business
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Writing the contents – A magazine needs to provide readers with rich, informative content, whether it is online or printed. There will be no stories written by themselves. A magazine’s popularity is determined by the quality of its contents. Hence, a copywriter’s job is to create stories that are entertaining and engaging. This makes writing the first and foremost step in production.
Proofreaders or copyreaders – While writing the story, the writers may make typo errors. A copy of the finalized content will be provided to the proofreaders. These people are also known as copy readers. Besides having profound knowledge of grammar, these experts are very familiar with a large number of words. So they read the copy, make sure it has no errors, correct it and send it to the editor.
Making final corrections – When the copy reaches the desk of the editor, it is decided whether it will be accepted or rejected. Ultimately, the editor makes the call. The copy will be sent to the appropriate department if he/she decides that it should be posted. In the event that the editor needs to make further corrections, the paper will be sent back to the writer.
Providing photo evidence – It isn’t just the content that attracts readers to a magazine, but also the colorful pictures that accompany the articles. For every magazine, full-time staff photographers are responsible for capturing the right photographs to accompany the content.
Designing the page for a better influence – Newspapers are traditional and formal in appearance. Online magazines, on the other hand, are informal. The page layout designer gets the contents and photographs after they have been selected. He is responsible for adding visually appealing elements and strategically positioning each content.
Creation of final prototype – Creating the final prototype is the second most important step in producing a product. The prototype will give you a glimpse of the final look of the online publication. Upon approval of the prototype by the editors, the next step would be digitizing the contents.
Digitization of the contents – Various software programs can assist in the creation of the prototype, in making corrections, and in designing. For example, WordPress, Contentful, and BuzzSprout can be helpful when digitizing and posting content on the site. The final step to launching the magazine in the right manner is digitizing the file according to these specifications.
No permits required for Online Magazine Business
Newspapers and magazines have a long and complicated registration process. The Registrar of Newspapers for India (RNI) is the apex authority that issues registration certificates. At present, however, there are no laws that highlight the need to register publications that operate only virtually. There is only one thing you can do: get the name registered so no other online magazine can name their website the same.
Employees required for Online Magazine Business
If you have an enthusiastic team that coordinates and collaborates, you can operate an online magazine from home. Online magazines are typically operated by several employees. In the beginning, you can have as many as three to five people working on the magazine, depending on its size and the content you plan to publish. To run the operation successfully, you will need content creators, editors, photographers, and web designers. In addition to editing, editors can also proofread the content. As the business grows, they may hire others to produce content that they originally created.
Revenue generation in Online Magazine Business
A majority of online magazines work on an agenda to make money. There are multiple ways to earn money from online magazines businesses. There are many magazines with a subscription structure where readers pay subscription fees each month or annually. It is not enough to rely on subscriptions alone. Online advertisements can add to your bottom line. If your magazine has a blog section, then blog-specific promotional messages can earn you some money. Reaching out directly to any company will also help. Your site will be perceived as a potential marketing tool if you have enough traffic. Having the online ads appear on your website will generate a sufficient amount for you. Affiliate marketing can also generate revenue. You can post affiliate links on your magazine pages. You will receive a certain percentage of sales that people make after clicking on these links.
Investment required for Online Magazine Business
It is not necessary to spend a lot of money on an online magazine on a small scale if you wish to start one. Purchasing a domain and hosting space will cost you around 3,000. Both payments need to be made annually. You might have to make a separate budget for paying a very small team of just three members, as a most domain name and hosting space providers charge around Rs. 900 each (depending on the package.) In other words, you can launch a portal-based magazine with as little as low as Rs. 40,000 to Rs. 50,000.
Profits in Online Magazine Business
The profits won’t come right away. Audiences are attracted by quality content, and advertisers are attracted by traffic. If your readers like the content and you receive a good amount of traffic, it will be easy to secure advertisements and sponsorships. If they feel that the magazine has potential, readers will not hesitate to pay a subscription fee. During the first few months, you can expect to make a 15% to 18% profit. The use of multiplatform methods will lead to increased revenues over time.
Risks involved in Online Magazine Business
An online representation may be all you need to start. Nevertheless, diversifying is a necessity if you wish to swim with the big fish in the pond. Having only an online magazine page won’t suffice if you do not have any print versions and no website. It is imperative to develop a multiplatform approach to marketing.
If you want your content to be of the highest quality, then you must do everything you can to ensure it. If the quality dips, your revenues will also drop. Make sure you stay in touch with readers and sponsors. Keeping track of what your readers and sponsors want from your magazine is important.
Marketing and advertising tips for Online Magazine Business
Traditional promotion – A successful business depends on proper promotion. It is vital that you make the magazine known if you want it to achieve the desired audience. The traditional means of advertising, such as pamphlets on the back of cars, newspaper and magazine ads, and radio and television ads, will help your cause.
Social media tools – Create and maintain accounts on all social platforms. By linking your content to these profiles, your readers will always be aware of the latest news. Using it, you will be able to decide which clients to work with, in line with the content you offer. You will immediately be able to reach more people. You can ask friends and family to post the link on their personal profiles so that more people can learn about the magazine.
Email marketing process – If you have enough readers you can also use email marketing as part of your marketing strategy. In addition to sending them relevant messages, it will also give them a sense that they are part of a positive experience.
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