I already showed you the basics of my MA magazine project and what it is going to be, but now I can show you a lot more and share with you the business plan and the media pack for the project. This goes into a lot more detail about the different areas I have covered and thought about when it comes to this magazine.
When the magazine has been marked I will upload it, I may post little sneak peaks as well to show how the magazine is progressing.
Teal magazine Media pack
TEAL, which stands for travel, eating and living, will be about travel and food with lifestyle pieces designed for millennials with a lower income who want to travel and experience new things.
TEAL is a monthly consumer magazine and is priced at £2.50 per issue.
The target market is the younger generation who wants to travel and experience new food and see amazing places but are not able to do so as they do not have a lot of disposable money. The age bracket will be 18-30 who are DC2C1B but will aim to be in the ABC1 demographic.
The magazine will be intelligent because 47% of all 17-30 year-olds in the UK, according to the GOV department of Business, Innovation and Skills, have attended some form of higher education in 2014. So despite the lower income bracket there will still be articles suited for intelligent people as they have been to university.
There is also a tend that Millennials would more rather spend their money on ‘experiences’ and holidays rather than owning things. Eventbrite, showed this in a survey in 2014, that 3 in 4 millennials would more rather spend money on experiences than save money. This is linked to the Fear of Missing Out, FOMO, feeling which was increased with social media. Millennials would go to an event because they don’t like seeing others on social media having a good time and not being included. The magazine will use this and promote experience more than material things.
The survey that was taken shows that the majority would love to travel yet do not have enough money and would like to find ways to save money and not have the FOMO.
Emily is twenty-five-year-old and graduate with degree in business management. She is working in the city for a large business firm. She lives in a small rented apartment because she wants to save up for travelling and eating out with her friends. She regularly uses social media to document her life and loves reading bloggers and seeing other people’s experiences.
The magazine will be split in to four sections: travel, food, features and regulars.
Each month there will be a place or a country that the magazine will focus on. This will be the main cover photo and will also be in the centre of the magazine as well. The three-page article will have details about the country in terms of what to do as a tourist but also focus on the culture and history of the place. Then there will be three pages after dedicated to the food of the country.
There will also be sections for cheep holidays or UK based place to travel as an affordable option. Also some of the food articles will be about how to create food from the other side of the world with the view that even if you cannot travel there you can still experience the food.
With the millennial demographic which TEAL is trying to hit will mean that interviewees about food and travel will be more from the blogger and YouTuber community rather than the classic route of chefs that most food magazines take. Technology and apps will also feature as well as parts about photography as the target audience would love to photograph certain aspects of their lives.
There will be a section of the magazine that will be topical and uses current events or hard-hitting topics as a talking point. Most of this will be opinion based and cover things like culture, politics and things to keep in mind when travelling around the world.
For a break down of the first magazine and the flat plan with proposed articles:
The style of the magazine will be very minimal with big white spaces giving it a sleek modern look. The colours pop of each page will be from the photos of that article so the colours and photos all merge in to one.
The magazine will be printed on A4 using a matt uncoated paper and will be 70gsm. This will keep the cost down and make it more accessible to people.
Research and survey
We carried out a survey on Survey Monkey at: http://www.surveymonkey.co.uk/r/XDDWB8S and was taken by 43 people. This was to give an idea of what our target audience would want to see from our magazine.
Current travel magazines like Food and Travel and Wonderlust tend to focus on expensive luxury holidays and dining experiences that is not really attainable for 18-30 year olds who are just starting out in working life.
Food magazines like Olive, Good Food, and Delicious also are aimed at the higher end of the market with the foods that are featured and the chefs that are interviewed.
The magazines in both food and travel sectors tend to aim towards to ABC1 demographic with a higher income. They are possible for millennials to read but more as aspirational than attainable. TEAL intends to show experiences that are possible for anyone living on a budget.
The competition for online food and travel websites is huge with a mix of both professionals and bloggers meaning there is a flooded market to do with food and travel. However the magazine will help bring in brand loyalty with the cross-platforming elements of the magazine to the website. They will promote each other to make the readers be interested in both aspects of the brand.
Social media and online content
With the target reader being so active on social media, like the survey shows, there needs to be a high presence on social media. The website and social media platforms will follow the same philosophy of the print magazine but they will include multimedia pieces including video.
The social media will include: Twitter, Facebook, Instagram, and YouTube.
YouTube will be the main format for video productions. These will have longer, in-depth videos about travel destinations and recipes. Shorter recipe videos with just background music will appear on Instagram and Facebook, as this is more common for these formats.
The website will host more recipes than the magazine. From the survey we found that the readers will go to Internet for recipes more than a magazine or a cookbook. So there will be an archive catalogue of recipes both in video and written from.
Social media like Facebook and Twitter will be mainly used to push out content from the website and video platforms. Instagram will be heavily used but focus on just food and travel aspects with minimal captions that just give a snapshot of a particular place or food.
Circulation and readership strategy
For the first three months of the brands life there will be no print magazine. There will be an emphasis on online aspects and building up a relationship with the readers though social media and the website. After the three months the magazine will launch. This will mean that people will want to buy the physical magazine as they already have loyalty through the website and social media.
We aim to have a circulation of around 33,000 within the first year of the print magazine being published. The magazine will be sold in the newsstands.
There will also be a cross-platforming strategy by using the print magazine to promote the digital and the digital to tease content that will appear in the magazine or provide a different format to a piece in the magazine through a multimedia production. Promoting each other like this will make the reader engage with both digital and online articles.
The brand extensions for TEAL will mainly be a show that will be held annually that will cover both food and travel aspects.
Speakers we will choose if they already have a fan base so that they can drive people towards the show; this will include bloggers or high influencers on social media. This will mean there will be both TEAL readers and those who follow the speakers who will bring more people to the brand.
Over first few years, after there have been a considerable amount of recipes and travel locations featured, there will be development of a food and travel book that feature the locations and cuisine explored in the magazine in more depth.
There will be a subscription service available for readers that will offer the magazine at a cheaper rate with a complementary digital download.
||Price Per Issue
The advertising will be a split between middle to high price products. The majority of the food and travel related adverts will be more at the mid-ranged price with travel companies or websites like Air B&B or hostels. As well as food companies such as Tesco or supermarket products being featured as well.
However we will target higher rated items to do with technology such as cameras, phones, and laptops, which are an expense that millennials are willing to pay out for. We also aim to keep the adverts gender neutral as the target market involves all genders.
The high-end advertisers will want to advertise because it will help people become familiar with the brand so even if the reader cannot afford to pay for those products they would be aspirational products.
There will also be advertising in the website and through sponsorship deals to promote and review products or destinations on social media.