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)