Journalism Today

Chapter 17: Handling Finances: Advertising and Business

Overview

The number of pages, color photos, or special features in an edition of the school newspaper may be dependent on revenue from any or all of the following sources: an activity fund, subscription sales, and advertising. Sometimes, advertising and subscription revenues are essential for a scholastic publication. Some publications may also hold fund-raising events to raise money for special features.

Student media are important to local businesses, linking the businesses with a student market that is known to have strong buying power. Attracting advertisers requires a thorough knowledge of the paper's readers. A market research study of the student body will provide important information that can help demonstrate to local businesses the value of advertising to the student market. In student publications, advertising rates are determined on the basis of an estimate of the money needed to print the publication and the space available for advertising.

Once advertising is sold, it has to be written and designed. Brainstorming techniques can help to identify the benefits of a product and so can firsthand experience with the product. It's also important to interview customers, as well as the seller, manufacturer, or distributor, about product attributes. When writing advertising copy, start with an outline. Then turn the outline into a letter to a friend telling him or her about the product. Develop several headlines that draw the reader into the ad; then select the best one. Write the ad copy and edit it several times. Pull readers into the copy with text that speaks to them personally, discussing benefits in owning the product or using the service. End the ad with a strong call to action—tell the reader what to do next. Remember to use words that are proven to sell. When designing the ad, place a strong headline or piece of art at the optical center, about one-third down from the top of the advertising space. That's where most readers will perceive the ad center to be and where their eyes will be drawn first. White space also helps draw attention to key layout elements.

Once the paper is printed, it must be distributed. Many publications are distributed by subscription—either directly or by mail. Businesses don't buy advertising unless they feel assured that the publication will reach its intended audience. Therefore, good recordkeeping is essential. Advertisers must receive timely invoices for their ad space so that the publication receives the funds needed to pay the printing, photography, or other bills. Good books and records must also be kept on all other income received in addition to advertising. A simple accounting system will ensure that each expenditure is carefully entered, that bills are paid on time, and that bills are not paid more than once. Be sure that school business procedures are carefully followed.