Alpha #3 has been out a week and early indications from newsagents I speak with is that it is not selling as well as issue #2. While I’m no expert on these things I’d say Alpha is in trouble. Consumers are confused by the low price ($2.00) and by the requirement to buy the local News Ltd Newspaper. Newsagents are bearing the brunt of consumer frustration when they want to purchase the magazine and are told that they have to buy a newspaper as well. There is strong anecdotal evidence supporting my views not only from across my own counter but also from other newsagents.
Alpha is a great product but it needs urgent surgery to succeed. By the way, ther have an excellent blog for the magazine.
This is what I wrote a few weeks ago and what I still believe today:
If I were in charge of Alpha I would increase the cover price to $7.95 – the quality of the product supports such a price; I would include teaser articles some of the features in the News Ltd newspapers with a coupon at the bottom of the article encouraging an Alpha purchase for $5.95 discount.
This approach does two things. First, it pitches the price of the product where it should be based on quality. Second, rewards the consumer for their interest.
Okay, since the magazine is published by a newspaper publisher I’d do something else. My third strategy would be to offer a competition entry with purchase of the magazine and I’d promote this on the coupon in the newspaper. Maybe a car giveaway each issue or a holiday or a hit out with a tennis star or a training run with a footy club. Who knows what the prize should be?
As it stands Alpha will die unless there is a more integrated and considered marketing strategy. Newsagents are working hard but the $2.00 cover price and lack of support for building what is a new niche is making it challenging. I want it to work.
On a pocket return basis I have Alpha taking 10 pockets at present and the return I anticipate for the month is $55.00. That does not pay the cost of the real-estate. A higher cover price with a lower sell through would be better economically.