A Modern Strategy for 21st Century Publishing
3 min read
In August 2019, the Business Roundtable redefined a corporation, for the first time in over two decades. Nearly 200 U.S.-based corporate CEOs agreed that a corporation must serve employees, customers, communities, suppliers, as well as shareholders.
Some are skeptical that this will result in any real change, while others remain optimistic.
Either way, the underlying trends that led to this update have been underway for over a decade and will affect your publishing company, no matter what size. The good news is that you can get ahead of this shift.
Or you can join in later—when the best talent is taken, the most engaged readers’ attention is somewhere else, and your advertisers have jumped ship for your competitors.
Yes, it’s that serious.
Corporations have long supported their stakeholder communities, employee-driven initiatives, been philanthropic in their customers’ communities, and more recently reduced their environmental footprints. So what’s different now?
- Media technology has created demand for a new level of accountability, leadership, and transparency, one that is sometimes impossible. We don’t want slick and perfect; we value authentic voices.
- Speaking of values, these are changing, too. What worked on the farm or in the early days of the industrial revolution no longer suffice in our hypermodern reality.
- Younger customers and workers do not want to be cogs in your corporate machinery. Purpose, connection, and meaning matter. And by the way, Baby Boomers are tired of the grind and these long intractable societal problems, too.
Your publishing company can lead the way. You have a built in audience who loves your product. Help them connect with you in deeper ways. Provide opportunities for them to champion causes they care about with your publication at the helm. Shine the light on the humanity in your company by sharing what truly matters to your company, being generous, and inviting your readers to join in.
These are the actions you take by being a mission-driven company. And the benefits?
You’ll enhance your ability to attract and retain talent.
You’ll connect with your audiences on deeper levels than simply the transactional. They believe in you, and your publication becomes something bigger for them—a community, a social world, a trusted companion that is magnanimous, caring, and supportive.
Your revenue grows.
You make important contributions in the world or your slice of it.
Your visibility and reputation grow, allowing you to expand profitably.
You feel good supporting important initiatives and having a real impact.
This may sound ambitious, but consider a Gallup study. Only 4 in 10 employees feel connected to any sort of purpose that makes their position feel valuable. Just a 10 percent shift in employees’ connection to purpose results in improved safety, retention, and profits.
It all begins with making a commitment to your mission. Then leveraging it throughout the organization.
How will you be part of this 21st century shift?
By Gail Bower
Gail Bower helps nonprofits put more money in their missions and mid-size and larger businesses put more mission in their money. She is the founder and president of Bower & Co. Consulting LLC, a revenue strategy firm, working with organizations of all sizes and scope for over 25 years. Her clients have doubled, tripled, and quadrupled revenue sources in under a year. And that’s just the first year.
Trained as a futurist, Gail studies where society is headed and what trends may impact her clients’ businesses. Author of How to Jump-start Your Sponsorship Strategy in Tough Times and a frequent speaker, Gail has been interviewed about her work by the New York Times, the Wall St. Journal, Marketplace, Time magazine, U.S. News & World Report, and other media. To learn more, visit http://GailBower.com
