Losing a subscriber is so sad 8/22/17

By Lewis Floyd, senior associate, W.B. Grimes & Co.

A four-page wrap provided a lighthearted approach to subscriber renewals: blank space to illustrate what they would be missing without their local paper.

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Calculating your purchase price 7/24/17

By Lewis Floyd, senior associate, W.B. Grimes & Co.

Regardless of how a buyer and seller come to terms, even if the value seems to be there, there is one more factor a buyer should consider – can this business repay my investment in a timely manner or make loan payments – and still provide me with an income?

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Your publication's image helps sell your credibility 6/5/17

By Lewis Floyd, senior associate, W.B. Grimes & Co.

What factors comprise your publication's image? I believe your image is comprised of many factors, including – but not limited to – print quality, web presence, employee attire, employee attitude, your office cleanliness, the area outside your building, the racks you use to sell your publication (both coin and inside racks), your delivery and your editorial objectivity, just to mention some that top my list.

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Calculating your best revenue area for new subscribers 3/28/17

By Lewis Floyd, senior associate, WB Grimes & Co.

There was a time when we went after circulation with an attitude of "damn the expense – full subscriptions ahead." The understanding was the cost of delivery was offset by ad revenue. Then, advertisers decided that "all circulation was not equal." As more advertisers came to this conclusion, ads or inserts declined as advertisers sought only the areas they believed worked best for them.

As revenue declined, expenses were cut and – in, some cases, publications pulled out of areas not generating ad revenue. In other cases, subscribers quit because of a lack of advertising or due to things being dropped from the publication that they liked.

In response to these declines, publications cut more expenses, increased subscription rates, and the circle began again with more cut backs from advertisers. To survive, this is a cycle we must stop. So, how do we go about it?

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Drawing readers to your publication with email 3/6/17

By Lewis Floyd, senior associate, WB Grimes & Co.

A recent article in the Daily Clips, entitled "5 Ways Email Will Evolve in 2017," caught my attention. While all five areas will not apply to media publications, some of the concepts should.

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Prospecting with your local Chamber of Commerce 1/24/17

By Lewis Floyd, senior associate, WB Grimes & Co.

Is your publication's goal to reach newcomers quickly and to become relevant to them in their new home? If so, here's a win-win for you and your local Chamber of Commerce.

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Could this be the best sampling program ever? 12/13/16

By Lewis Floyd, senior associate, WB Grimes & Co.

Here is what I consider the best sampling program – ever: hospital delivery. This could be sponsored by an advertiser, or from public donations, or you can make it your community contribution. You can do any or all of these – just do the delivery and let the sponsorships come in.

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Are you ready to move from manager to owner? 10/28/16

By Lewis Floyd, senior associate, WB Grimes & Co.

When you sign the back of a check you are a manager working for someone else who takes the risks, whereas if you become the owner you are accepting the risks of failure or success, but you will proudly be signing the front of your checks.

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Is there such a thing as 'too local'? 10/11/16

By Lewis Floyd, senior associate, WB Grimes & Co.

Local coverage is not just city hall. It includes school activities, social events, summer sports leagues, church services and events, Boy Scouts, Girl Scouts, Civic Clubs – whatever is important and linked to your community ... your market. Get your editor to start thinking a little like a salesman – what would make someone want to read my column?

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Be your buyer to determine your selling price 8/2/16

By Lewis Floyd, senior associate, W.B. Grimes & Co.

Almost every owner has a selling price he or she would like for the business, including publishers. The publishing industry has used many methods to determine a publication's value; the most common method now used is a multiple of cash flow. However, often sellers set a price by what their business is worth to them, and sometimes it is based on what they need, which is rarely related to the value.

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