Monday, August 07, 2006

Non-suggested reading

If you have a lot of time on your hands, you could read the piece in the New Yorker criticizing citizen journalism. It's written by Nick Lemann, dean of Columbia University's Journalism school.
But I can't recommend it. There's nothing in it that you haven't seen before.
Instead, I'd suggest that you read Andrew Cline's piece about Lemann's article. Andrew does a great job of dissecting the rhetorical devices in Lemann's piece and how they add up to arrogance.
I'd also suggest that you read what Rebecca Mackinnon says about Lemann's article. She unveils the personal dispute that lurks in the background of Lemann's essay.
And I'd urge you to take a look what Jay Rosen, who works at New York University -- about 100 blocks south and a world away from Lemann -- has to say. No one -- no one -- thinks more clearly than Jay about where citizen journalism came from and where it may be heading.

For some of my thoughts on citizen journalism and B2B, see earlier posts here, here, here and here.

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Tuesday, August 01, 2006

That's ridiculous, according to published reports

Yesterday I wrote about my belief that journalists should embrace the agnostic link -- pointing readers to interesting content no matter where it was published.
And longtime readers of this blog know that time and time again I've complained that some B2B publishers still haven't learned to insert any links, let alone agnostic ones.
Today I want to take this a little further and voice my dismay at an even more annoying practice.

Take a look at this piece in today's Investment News. It talks about a stock index fund that may be of interest to NASCAR fans. Look closely and you'll see that none of the material in the piece appears to be based on any reporting by Investment News. Rather everything in the article is attributed to "published reports."
Now the truth of the matter is this. The story isn't based on "reports" at all. It's based on a single report -- a piece of original reporting by the New York Times' J. Alex Tarquinio.

Now think about that.
I understand that many folks in our industry are afraid to link outside their own sites. I disagree. But I understand. But I absolutely do not understand why a publication would be afraid to attribute something. Lots of us do summaries of other published material. That's a well-established and valuable service that many press outlets offer to their readers.
But what could possibly justify withholding the single most important piece of information about a summary from our readers?

Attribution is one of the ways we let our readers know how much faith they can place in a piece of information. If we publish a sentence that says "'The sky is falling,' according to a guy on the street." We don't expect to be taken seriously. But if we publish something that says "'The sky is falling,' according to the director of the U.S. Weather Service," we're letting our readers know they should start panicking now. The same is true if we publish something that says "'The sky is falling, according to the New York Times, which cited an official with the National Weather Service."
But we're not telling anyone anything when we say "The sky is falling,' according to published reports."

But there is something else worth noting about the "according to published reports" phenomenon. And it is ugly.
The simple, unavoidable fact is that the phrase "according to published reports" is often a lie. If you've read one report and then attributed your story to multiple "reports" you are misleading your audience. It's similar to interviewing one person and then masking your laziness behind the use of the phrase "according to sources." Or publishing an unedited press release and calling it an exclusive news story.
And there is no room in journalism for a lie.

(Note: I singled out Investment News in this post because the use of the phrase "according to published reports" is a veritable plague at that publication. A search for the phrase on the site yields 11670 results. A search for the phrase on Google News yields 1,230 citations...and four of the first 10 are from Investment News. A good portion of those citations actually refer to actual reports, i.e. more than one news story. And sometimes, as in this story, Investment News cites the N.Y. Times or other sources by name. But Investment News routinely uses the phrase "according to published reports" when it's just plain silly to do so. Check out this story from today, which is based on this story from the Atlanta Journal Constitution.)

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Monday, July 31, 2006

Learning to believe in the agnostic link

Of the subjects I like to discuss with B2B journalists -- ethics, multimedia, writing for the Web, reporting skills, etc. -- nothing causes as much anger as when I talk about "agnostic" hyperlinks. I've been called "stupid" for suggesting that a magazine link to a rival. I've been yelled at, scoffed at and walked out on. I've had myriad eyeballs rolled at me.
And it's all because I believe that journalists have an obligation as journalists to point to information of value no matter where they find it.

Two weeks ago I raised this subject briefly in a presentation to the ASBPE in Chicago in which I urged journalists to become more "blog-like" -- embracing the culture of blogging by becoming more passionate, adding feedback functions and linking outside their own publications. "If your readers should know about it," I said, "link to it -- no matter who published it." And much to my joy and relief, no one threw anything at me.

That could be testimony to the good manners of the folks at ASBPE. Or it could be an indication that attitudes about links are changing. Certainly today's news that the Washington Post has embraced the agnostic link would suggest that the mainstream press has begun to act more blog-like. So perhaps the B2B press will too.

On the other hand, as I noted just a few days ago, some B2B publishers haven't even learned to link anywhere, let alone link to competitors.

For more on the value of linking, read this earlier post.

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Thursday, July 27, 2006

How your Web site will look in the near future

Earlier today I downloaded the beta version of Internet Explorer 7, the next generation of Web browsers from Microsoft.
And after a just a few minutes of playing around, I can tell you that Version 7 is far superior to earlier versions. And that shouldn't be a surprise. Version 7's primary purpose seems to be duplicating the features and functions that made Mozilla's Firefox browser so superior to IE.

Longtime readers of this blog know that I'm a big fan of Firefox. And it seems that the developers at Microsoft are too. The new IE comes complete with the two most interesting features of Firefox -- tabbed browsing, which lets you look at multiple Web sites in a single window, and built-in RSS capability.

Why should you care? Think about this: as great as Firefox is, and as quickly as it has grown, its market share remains small. But Microsoft's IE is the king of the browser world. It won't always be that way, I'm sure. Things are changing quickly, and new user interfaces are coming. But until that day arrives, IE rules. So sometime in the next few months, IE 7 will become the way readers experience your online products. And you need to know what that will mean.

Download IE 7 today. You can do so here.
Take a look at how your site and the sites of your rivals look. One interesting feature of IE 7 is that the interface is smaller -- allowing users to see more of the Web pages they visit. Your Web designers should be considering what that means for your pages.
Then take a look at the little RSS icon that appears in the upper right hand corner of the browser. If the site you visit has an RSS feed, the icon will light up in orange. If not, the icon remains a dull gray. (Don't have an RSS feed yet? Perhaps that hasn't been a problem so far. But RSS is a superior experience for users. And billions of computer users are about to find that out. So trust me on this -- when IE 7 starts appearing on desktops around the globe, you don't want to be the only publication in your space that users can't access through RSS.)

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Tuesday, July 25, 2006

Magazines of the year

I'm back from the ASBPE Editorial Conference in Chicago, where I had the good fortune to meet with some of the smarter, nicer and more interesting folks in our business.
While I was there, ASBPE announced the winners of its annual "Magazine of the Year" awards. And it was no surprise to me that both winners were IDG products -- Computerworld and CSO.

Longtime readers of this blog know that I'm a fan of much of what IDG does (DISCLOSURE: IDG is a client of mine.) And both Computerworld and CSO are truly wonderful publications in both print and online. I'm particularly impressed by how both publications have navigated the new media world. Although the designs of both sites are a little too cluttered for my tastes, Computerworld and CSO have a little bit of everything that makes for compelling online content -- graphics, feedback, podcasts, interactive tools, webcasts and hyperlinks. Congratulations to all involved.

For more on this year's winners, check out the blog of the Boston chapter of the ASBPE, which is run by my friend and ASBPE co-panelist Martha Spizziri (we served on a panel about blogging.) For more on this year's conference, take a look at the blog of my other friend and co-panelist, David Shaw.

You may also want to check out BtoB magazine's coverage of the keynote speech by Rance Crain, in which he calls for editors to stop looking across the "digital divide with fear and trepidation."
It's worth remarking that Rance is the president and editorial director of Crain Communications, owner of BtoB magazine. And although Rance seems to embrace new media, BtoB magazine still struggles with the most basic of new-media concepts. There's not a single link in the story about Rance. Nor, for that matter, is there a single link in any BtoB story. And as I've mentioned before, I find that's a common shortcoming at Crain publications.)
For more on why publications should link, take a look at this post at Reinventing College Media.

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Monday, July 24, 2006

Personalities for journalism, business

Longtime readers of this blog know that I've been predicting a surge in new businesses launched by established journalists. Now the New York Times has made note of the phenomenon.
The Times piece has its flaws. There's no mention, for example, of what role easy-to-use blogging software is playing. But there are some interesting insights here, particularly that business journalists tend to be "risk-averse."

The Times article focuses on Nina Munk, a former writer for Fortune and a stereotypically neurotic journalist "filled with self-doubt" who became "acutely aware of the personality traits required for success in business."
Take a look at the Times article here.
Then, before you launch your own business, take a Myers-Briggs test and spend a little time learning about the strength and flaws of your own personality type. I, for example, am an ENFJ. We are communicators and teachers by nature. There are lots of us in journalism. And we tend to have a "longing for the perfect" and to "experience some degree of restlessness" in our jobs. And although we can excel at any "people-to-people occupation," we tend to have problems with accounting (which explains why the biggest challenge I face in my business is balancing the checkbook.)

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Monday, July 17, 2006

Journalists and poets

I enjoyed reading the interview in CJR Daily with Priscilla Long, the writer who won this year's National Magazine Award for feature writing. There are some wonderful ideas in the piece -- particularly that journalists could benefit from reading poetry.
Yet I hesitated to link to the interview.
My concern -- born of experience -- is that the writers most interested in producing stories that read like poetry are seldom talented enough to do so. The result is too many magazines with too many awful stories by reporters in love with their own tortured prose.
And I don't want to link to anything that could possibly lead to more overwritten stories.

Yet there are those few journalists ... gifted, open to learning ... who can be taught to write like poets. And to them, I say, read this interview.
(I'd like to link to Long's award-winning essay, "Genome Tome," which appeared in the American Scholar. But it's not available online.)

For an earlier post of mine on poetry, click here.

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Wednesday, July 12, 2006

Looking at online video

I'd be hard-pressed to think of a style of content that has grown as quickly as short-form video. YouTube is certainly the most interesting company in the space, but new competitors are emerging.
But despite the enormous popularity of short-form clips online, few B2B publishers have offering video on their sites. There are exceptions -- mostly the larger players that cover the media business such as Variety and AdWeek.
If you're thinking about online video, or if you already offer some on your site, take a look at this commentary from MediaPost. It does a pretty good job of explaining what not to do.

For an earlier post about online video, click here.

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Tuesday, July 11, 2006

Sources as competitors

There's no doubt in my mind that the greatest challenge traditional publishers face from blogging is that news sources can now be news competitors -- producing compelling content at little cost.
And it seems that most every day I find someone else who has found his voice ... and found a way to bypass the traditional press.
Take a look at this site, written by an employee at Birds Eye, about the pea harvest.
Or take a look at this blog about the beer industry from Miller Brewing.
I've written about this phenomenon before in posts such as this. And it was a year ago this month that I predicted a "surge in B2B news produced by B2B news sources."
And that has turned out to be one of the most accurate predictions I've ever made.

Yet many of the B2B journalists and publishers I run into seem unconcerned. They believe that something -- tradition, brand name, familiarity -- makes them a more trusted source of information than any non-media company can be.
That's a mistake.
In a world where anyone can be a publisher, it's time to rethink our mission, our role and our business plans.

For more on this subject, check out what my friend Chuck has to say about the Miller Brewing blog.

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Monday, July 10, 2006

Complaints and compliments

Now this is the sort of complaint I wouldn't mind hearing more of. Folio magazine's Tony Silber is upset that I don't publish this blog more often. It would seem that Tony thinks this blog (and one written by my friend David Shaw) are "excellent" but "way too infrequent."

I'll admit to having fallen behind in my productivity of late. Heck, I'll admit to having fallen behind in everything. Since the birth of my daughter a few weeks ago, I sometimes go the entire day without even washing my face. I'm learning the hard way that 47 is far too old to be a first-time father. So I wasn't even aware of Tony's remarks until my friend and fellow blogger Matt Mullen posted a comment to this blog to tell me about it. (It was Matt who graciously suggested that I could take an infrequency "complaint as a compliment, i.e. readers actually read your stuff and want to see more." And I decided to adopt Matt's glass-half-full interpretation.)

So what is the frequency of this blog? and does it matter?
A quick look at my publishing software shows that I've posted an average of 17 items a month to this blog since it began in late 2004. That's a pretty decent level of productivity, I figure. But those numbers have dropped considerably in recent weeks. In May I posted only nine items. In June I posted only seven.
Now I can argue that quality is more important than quantity in blogging. And some of the items in recent weeks have been pretty good, if I do say so myself. But user stats don't lie, and it's clear that the drop in frequency has an impact -- page views in the second quarter were 15.4% lower than in the first quarter.

David, Martha Spizziri and I will be speaking about blogging next week at the ASBPE National Conference. I'm sure that frequency will be among the topics we'll address.
In the meantime, I'm going to have to face one key fact -- I have too much going on these days. Something is going to have to give. But I promise it won't be this blog.

For David's reaction to the Folio piece, click here.
To see what Rex, who has no problems with frequency, said, click here.

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Thursday, July 06, 2006

Even more congratulations are in order

Just a few hours after offering my congratulations to the B2B magazines that picked up nominations for ASBPE's Magazine of the Year awards, I find it's time to pat a few more folks on the back.
Trade, Association and Business Publications International, known as TABPI, has announced the winners of its 2006 Tabbie Awards.
Take a look at the complete list of winners here. And note that many of the publications that picked up a Tabbie -- Computerworld, Builder, CIO Decisions, etc. -- are also finalists for ASBPE's awards.
My congratulations to everyone involved.

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More congratulations are in order

The American Society of Business Publication Editors has released the list of finalists for the Magazine of the Year awards.
It's no surprise to me that two of the 10 finalists in the large-circulation division, CIO and Computerword, and one of the 10 in the small-circulation category, CSO, are IDG publications. Nor am I surprised to see that CFO is also a finalist among the large-circ pubs. Longtime readers of this blog know that I'm a fan of much that IDG does. And regular readers also know I adore CFO. (FULL DISCLOSURE: IDG is a client of mine, and I once worked at the parent company of CFO.)
For the full list of finalists, click here.
Congratulations to all involved.

For my comments on last year's winners, click here.

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Friday, June 30, 2006

Celebrating change this holiday weekend

I was talking to an old friend earlier this week. This guy is a brilliant reporter, a gifted writer and a truly inspirational editor. He's in the big time...leading a team of journalists at one of the most prestigious newspapers in the world.
And he's depressed.
My friend is convinced that he will be "obsolete" within a few years. He's worried that there's just no room left in the business for someone who does what he does.

His fear, or course, is new media. And I wish I could be more sympathetic. But this fear that something dark and ominous is sweeping across the industry annoys me to no end. I know that change is coming. Heck, the change has already come. But the change is positive. Journalism is a far, far, far more interesting place to be now than it was just a few years ago. What was once a narrow field dominated by one-way lectures and single-medium storytelling has evolved into a bigger, more open, more participatory, more glorious place to work.

Besides, as I tried to tell my friend, there's nothing about new media that's difficult to learn. This ain't brain surgery. It's not even Biology 101. It's new media. And mastering the basics of new media is not an insurmountable task. It's fun. It's easy. And it will make you a better storyteller. And I promise you -- although print-only journalists will be obsolete soon, there will always be room in this industry for people willing to learn new skills, new styles and new ways of telling a tale.

A year ago this week, I suggested that the long holiday weekend was a good time to try and catch up with some of the changes in journalism. And I suggested that readers of this blog take some time over the July Fourth holiday to learn RSS.
If you're still unfamiliar with RSS, I don't know what to say. You're way, way behind. Try to catch up.
The same is true if you're one of those many journalists I meet who can't work in html.
Html isn't that hard. No one expects you to become a programmer. But you should be able to do some basic work on a Web page. How about digital photography? Or audio files? If your new media skills are lacking, take some time this weekend to poke around the J-learning site.

If you're already a multimedia master, I applaud you. But I would still suggest this is no time to rest. New media is about more than media, it's about a cultural shift. It's a fundamental change in how people interact with each other and with content.
As I tried to tell my friend, journalists need to do more than change the way we work. We need to change our minds. We need to change our lives.
So take some time this weekend to join a few social networking sites and virtual communities. Check out MySpace. Look at Friendster. Try Flickr. Sign up for Second Life, build an avatar, fly around, make a friend and buy a house.

And when the holiday has passed and you're back at your desk, find a new way to let your readers engage with you, your work and each other.
For more on fostering community and conversation, read this piece by Steve Outing and this piece by the Online Journalism Review at USC.

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Tuesday, June 27, 2006

Sites that work and those that don't

Bloomberg News this morning unveiled a redesign of its Web site. It's worth taking a look at, no matter what your beat. Bloomberg operates television and radio networks in addition to its signature "professional service," the subscription-only news and information service. And that makes them the king of convergence. Few companies produce more print, audio and video content (the BBC, perhaps? ) And certainly no one has done it better or more profitably. And it's always worth remembering that before there was Web journalism, Bloomberg was making money sending news to users' computer screens.

Regular readers of this blog know I'm a big fan of the professional service, and I've argued it serves as a useful guide for the next generation of user interfaces. But don't expect anything quite so grand from the Web site. Bloomberg offers very little for free. So the new and improved site is less than compelling.

However, B2B journalists should make note of two things about the redesign. First, Bloomberg is giving far more prominent space to its video content. Every journalist at Bloomberg is required to have some basic audio and video skills. And I expect that will soon be true of every journalist everywhere.

Second, the site features an unusual gold-on-black design. I love the look, which evokes computer screens of old. More importantly, the site is a welcome relief from the tiny-text, multiple-headline mess that I see on so many news sites.

I expect to see even better things soon at CNBC, which has hired Webby winner Meredith Stark to run its Web site. Stark joins the news network from Gartner, where she was group vice president, product platforms.

But amid this positive news about the Web sites of our financial-news brothers, there is more disappointing news about the Web sites of B2B. A new report from Jakob Nielsen and the Nielsen Norman Group says B2B sites are plagued by lengthy registration forms and bad design. B2B sites "haven't realized yet that the web has reversed the relationship between companies and their customers, where most interactions are demand-driven and you either give people what they want or see them abandon your site for the competition," the report says.

Granted, the study is about B2B sites in general, not just B2B media sites. But take a look at this article on the report. Then look at your sites -- news, data, whatever -- and ask if you 're truly serving your users.

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Monday, June 26, 2006

More bad news about B2B news

I've put off writing about this for a few days now. It's just too depressing to think about. But PR Week has published a story that will break your heart if you care about journalistic integrity. According to a poll by Manning Selvage & Lee and the magazine, nearly half of the marketing executives surveyed say they have paid to get news coverage.
PR Week keeps its material behind a password-protected firewall, so only subscribers can read the original article. But you can read the New York Times take here. Or check out Paul Gillin's blog for his opinion and links to other coverage by clicking here.

The article isn't solely about B2B. Rather it appears that marketers are paying to play in a variety of publications. And I think most folks in our industry assume that some genres -- particularly fashion and shopping magazines -- are filled with this nonsense.
And it's possible that the survey isn't an accurate representation of the truth. An optimist might say the marketers are simply bragging -- claiming to have influence that they don't actually have.

But I'm not much of an optimist. I've seen too many publications engage in shocking or cheap behavior. So I'm walking around today with my head hung low.

For a look at the ASBPE's rewritten ethics guidelines, read this earlier post.
For my advice on how to handle pressure to behave unethically, read this earlier post.

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Thursday, June 22, 2006

That which we call RSS, by any other word would smell as sweet

Jakob Nielsen, the Web design guru extraordinaire, thinks people like me should stop talking about RSS, because it's confusing to anyone who is not an obsessive information junkie. Nielsen tells the Wall Street Journal that one of his "real strong recommendations is to stop calling it 'RSS' and start calling it 'news feeds,' because that explains what it does."
Point taken.

So...I was reading news feeds in my news reader this morning when I saw that Jakob Nielsen, the Web design guru extraordinaire, prefers email newsletters to news feeds. Longtime readers of this blog know that I've grown less than fond of email news. And although I don't recommend that publishers exit the email-newsletter game -- there's still too much money to be made --I do suggest that they add news feeds now and prepare for the inevitable end of email news.

One interesting note -- in the Journal interview, Nielsen points to an example of the sort of targeted email newsletter that "people really look forward to getting." It's called "Your baby this week," and it serves new parents. And I have to admit that a newsletter like that does have an appeal to someone like me. Just days ago I became a first-time father. So my obsessive information gathering has taken on a new level of frantic energy. So I signed up for "Your baby this week," published by BabyCentre, even though it appears to be very similar to the email newsletter I already get from American Baby magazine.
Then I returned to my news reader, where I subscribe to a dozen news feeds for parents, including The Blogfathers and Older Father.
And that about sums it up: 12 feeds versus 2 newsletters. I apparently like news feeds about six times as much as I like email newsletters.

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Saturday, June 17, 2006

Can you Digg it? Hugo starts a new site for B2B

Digg is among the more interesting experiments in community journalism. If you aren't familiar with it, you should be. In brief, Digg is sort of new version of Slashdot, the online community pioneer. As remarkable as Slashdot was and is, Digg took things a little further by allowing readers to "rank" the importance of stories. Suddenly there was a news site where the "front page" was selected by readers, rather than by editors (like every publication you've ever seen) or algorithms (like Google News.)
Spinoffs emerged quickly. The most popular of those is probably Hugg, a Digg-like site about the environmental movement.

Now my friend and fellow B2B blogger Hugo Martin as created a Digg-like site about B2B media. Check it out. Read the stories. Submit new stories that you find interesting. Vote for the things you like. Share. Participate. Enjoy.

It's worth noting that AOL this week relaunched the Netscape site in Digg style. Check out Rex's thoughts on the change here.
For some of my ideas on building community online, see this earlier post.

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Friday, June 16, 2006

Congratulations are in order

When I head to Chicago next month to speak at the American Society of Business
Publication Editors conference, I'll have to try and make a point to meet Anthony Fletcher and Natalia Thomson. They're the winners of this year's TABPI Young Leaders Scholarships -- an honor which wins them a ticket to the conference as well as my heartfelt admiration.

The scholarships are sponsored by ASBPE and Trade, Association and Business Publications International. And although I'm fairly sure that ASBPE has additional scholarships for U.S.-based editors. I haven't seen a list of those winners yet. But perhaps I missed an announcement. Regardless, details about the show can be found by following the links at the ASBPE site.

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Tuesday, June 06, 2006

Bad news about B2B news

Today is not a good day for B2B journalism.

First there is the depressing study by research firm Outsell, which says that "press releases have surpassed trade journals as the leading source of information for knowledge workers."
I've long bemoaned that too many of our peers blur the lines between press releases and original reporting. But now, if the Outsell report is to be believed, readers in at least one B2B space are saying they use press releases more than they use our publications. And that is simply heartbreaking.
Certainly some of this can be traced to the immediacy of the Web. Companies that once needed us to distribute their press releases can now communicate directly with their target audience. And as I've said before, in a world where anyone can be a publisher, we must find a new role to replace that of gatekeeper.

The other piece of bad news today is that "Amusement Business" has closed down. It's almost always sad to see a magazine close. But the death of "Amusement Business" is particularly tough to swallow. The publication had a history, a significance, worth noting. "Amusement Business" debuted in 1894 as "Billboard Advertising." And like many a B2B publication, it morphed and grew, eventually spinning off one of the bigger names in our industry -- "Billboard" magazine.
Take a few minutes today to bow your head, mourn the loss, and read this story about the death of "Amusement Business" in BtoB magazine.

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Thursday, May 25, 2006

Getting readers to do the writing


There's an interesting piece in Wired magazine about the rise of "crowsdsourcing," the Web-based phenomenon of "everyday people using their spare cycles to create content, solve problems, even do corporate R & D" for companies. Click here to read the article. And pay particular attention to the discussion of iStockPhoto, the marketplace for amateur photographers.
Publishers and editors should be familiar with iStockPhoto if for no other reason that that it can cut costs dramatically. This "massive collection of royalty-free images" is an alternative to pricier services such as the one run by Getty Images, which, by the way, bought out iStockPhoto three months ago. (iStockPhoto's user agreement on royalty-free images is here. And it seems clear to this non-legal mind that magazines are permitted to reproduce the photos.)
But I don't so much want to talk about iStockPhoto as I want to talk about what it represents -- a system of user-generated content that can supplement, or even replace, traditional content.

Yesterday I spoke to the publisher of a B2B magazine that covers a specialized section of the financial-services market. There's nothing unusual about the magazine other than that it has nice, round numbers that I want to use to illustrate a point.
According to the publisher, his magazine has a controlled circulation of 70,000. That gives the magazine almost exactly 70% penetration of a vertical market he estimates at 100,000.
Now consider the possibility of asking that audience to create content in the crowdsourcing model. If we assume a modest participation rate of just 1%, the magazine would be awash in user-created material. If 1% of the industry was willing to write something just once a year, that would generate 1,000 articles. If we stick with existing subscribers, a 1% participation rate would yield 700 articles a year -- more than two pieces a day.

Consider the possibilities here. These readers are, by definition, interested in and familar with the subjects covered by the magazine. Furthermore, the readers work in a highly competitive field where careers can be made by "fame." The best-known people get the most clients. So there's a built-in incentive to participate in something that can "get your name out there."
Most importantly, this particular magazine serves a professional and educated readership. We can assume that a good portion of these people are capable of creating at least moderately good material prior to editing.
I'm not talking about news here. News requires a commitment of time that most readers cannot make (although any single reader armed with the new publishing technology can become a news competitor.) I'm talking about analysis. I'm talking about essays, thought pieces, best-practices, how-I-landed-my-biggest-sale feature stories, etc.
Think about the power of such content. Think about the sheer volume of it.
And then ask this question: Can you say with any certainty that the efforts of the professional journalists at your magazine -- those three, four or five poorly paid writers -- would be superior in quality or quantity to the work produced by 1,000 readers?

For some magazines, certainly, the answer is yes. Publications that serve a less-educated audience would be hard-pressed to find talented content creators among the readers. If you work at "Bread Wrap, the monthly magazine serving the men and women who seal bread in plastic bags with twisties," you probably don't need to concern yourself with crowdsourcing. But if you work at "Industrial Baking Technician" or "Twistie Engineer," you may want to read that Wired article again.

(NOTE: I paid $3 to iStockPhoto for the photo at the top of this post. That's a great deal no matter how you look at it. But before you spend even that tiny amount, check photo-sharing site Flickr to see if any of the free content suits your needs.)

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