An exciting new player has entered the domestic magazine market, the interactive Growth Magazine
Year by year, the sales of daily and weekly newspapers available on the market are decreasing according to NMHH data, while the number of magazines published monthly and less frequently than every two months shows an increase.
Specific printed publications built around a particular theme provide quality content tailored to their target audience, which is why they are still in demand, as printed content is more tangible both physically and metaphorically.
Precisely for this reason, we were already thinking last summer about which magazine would be worth publishing content about an ABM (Account Based Marketing) strategy. Data-driven approaches are primary in our profession, so we measure everything we can, and where we can't, we find solutions. Therefore, we thought that we would not only make the article available in written form but also in an audio format. This idea came up in connection with our LISN project, where we essentially create podcasts from blog content. The rise of podcasts and audio marketing (which is still less widespread in our country) is becoming an increasingly popular tool in the Hungarian market, which is how our product idea emerged during Covid.
We initially started testing in PR appearances, but it proved to be too slow and expensive for testing. A printed PR article can cost anywhere from 200,000 to 300,000 HUF at a base level.
Then, driven by a sudden idea, we thought we would not place the desired article in an external magazine but would launch an unknown format. Moreover, all our competencies were in-house, so the only costs were for printing and distribution, which we had to solve from the price of a PR article. We wanted to create an interactive magazine where the reader can decide whether to read or listen to the articles.
Thus, we began the magazine production.
The topic was given, as organizational growth development is what we are passionate about, so we definitely wanted to share content not only about investment amounts and general topics but specifically about the difficulties and experiences associated with growth. The startup world is where this plays a particularly significant role, as such a business measures progress in months, not years. If there is a good idea that can be validated in a short time, scaling and addressing every aspect of growth must be solved at an accelerated pace. It is exciting to read about and observe how different organizations in the domestic market solve this. Anyone who has worked on a startup project knows exactly what we are talking about.
Thus, in the first issue, among others, Billingo, Munch, and Startup Hungary were happy to publish and try out the hybrid format. The magazine only featured introductions to the content, while the full articles could be listened to on a separate channel created for this project. Initially, we distributed the newspaper in co-working offices and to company leaders, then we observed what happened. We apply the Lean method in our projects, so we draw from the feedback.
The first official Growth Magazine was born.
Readers can read not just introductions but a good portion of the content in the magazine, but the second half of the articles will also only be made available in audio format. Thus, we placed a QR code next to each article, which, when scanned with a phone camera, directs the user to a web application where they can listen to the content, often in the authors“ own voices. Among the publishers are experienced podcasters like Adrián Sándorfy (Business Boys) and Gábor Nagy (Marketingpunk), but there are also those who are trying out this format for the first time. The authors really enjoyed the challenge, as they had never read their own articles in this way before. For readers, it is particularly exciting to get another small slice of the professionals and company leaders they only know ”statistically." They have seen them in pictures, read their posts and writings, but have not actually heard their voices.
In terms of experience, it's like sitting down to talk with the author of the article himself, sharing valuable insights, thoughts, and knowledge with you. Each such experience contains years, millions, failures, and successes, which are extremely valuable, as we often pay a significant amount for such advice. Because what hasn't been mentioned yet is the content itself. The contents published in Growth Magazine are created by authors who are credible in the field and have gained sufficient knowledge and experience from what their content is about. And we have elevated credibility to a higher level by having most of them read their own content. Of course, there are times when someone cannot or is unable to provide a voice track, in which case a professional actor does the reading. Let’s not forget that most of them are company leaders, founders, experts, and perhaps time is the one thing they have the least of.
Many interpret it as a podcast at first, but these contents have less conversation and no small talk. The listener receives the value in a condensed form, so instead of 1-2 hour podcasts, they get quickly consumable audio material that lasts only 5-15 minutes but is much more substantial.
What is worth talking about?
This year's goal of Growth Magazine is to showcase as many businesses and startups as possible from which it is worth learning, and that do not necessarily make it into mainstream media, even though they are working on exciting projects and may already have international successes to their name. One such current startup is featured on motivac.io. The Innonic team presented the product to us, and we immediately knew they had to be featured. They work at a high quality, yet approach the project humbly, modestly, and with hard work every day. Finding such an unpolished diamond is particularly exciting for us. There are startups that are still bootstrapping, meaning they do not follow the popular approach of having an idea and immediately pulling in investment, but rather build without sparing energy and savings. Often, only those who receive significant investments make it into the media, even though investment alone is not success, in fact, it is not. From that point on, it is no longer our company. We sold it, and in the following years, we have to put everything into it, there is no exit, and in return, if we do well, we can pay everyone, and in the end, perhaps something will remain for us, all of this, of course, in 5-10 years. However, this incredible momentum continuously brings micro-innovations, moreover, it can bring out things from people, teams, and companies that everyone can benefit from. What is worth talking about if not this?
But it is important to note that Growth Magazine is not just for startups. A large company, like an oil tanker, moves slowly, as it has an inertia due to its size. The processes and culture are different, yet they all want the same thing: to develop, grow, and stay dynamic. This is the common language that connects us all. In the latest issue, readers/listeners of the magazine can experience a case study of the revival of a company founded 40 years ago.
Who dares to think in printed media today?
However, our answer to this is very simple. Our goal this year is to take this format to the international market and show Hungarian startups to VCs abroad, while also drawing attention to international projects at home that are worth learning from or can provide inspiration. The contents of Growth Magazine will be available in multiple languages, precisely so that everyone can consume them in their own language. We will not increase the page numbers in terms of multilingualism either, as the goal is not paper consumption, but a habit-forming activity, the end product of which is an online magazine based on audio articles up to 100%. But, as I said, this is the music of the future, as it takes time to establish habits.
Our ultimate goal is nothing less than to reform the magazine market in order to deliver interactive, personalized, and as much valuable information as possible to users. The content in its entirety would correspond to a 90-page magazine, but with this technique, we have maintained 50 pages, which has almost halved our paper usage while providing not a decrease in quality and user experience, but an exclusive experience. Other magazines have also recognized the potential in the technology, so if someone, for example, wanders into a Café Frei café, they can already listen to special stories in the voice of Tamás Frei.
A little teaser from the Q1 contents:
A Growth Magazine On its homepage, Krisztián Kölkedi and HSUP, or from talent management to the international market.
Additional content:
- Imre Hild Entering the international market, or a leap into the unknown
- Eszter Szabo Woman Business Angel – The impact of business angel investors on Central and Eastern European startups
- Dalma Berkovics Get to know the Microsoft for Startups program
- Zoltán Dr. Németh, DTM How much is a Pitch worth?
- Maria Balogh-Mazi, PMP Dreamjo.bs case study – We grew from a startup to a business together with our clients
Let's get professional:
- Balázs Tóth Headshot, or the 5 secrets of a convincing portrait photo
- Adrián Sándorfy Podcast, the untapped tool for employer branding
- Ágnes Hűvös – SME management consulting Find money between the lines
- Gábor Nagy 😎🤘 marketingpunk: Why brand building is important for startups
- Zoltan Dallos: The seven greatest advantages of video making
Three promising startups have also found a place in the magazine:
- motivation
- Hacktify
- EDUardo
The answer to the original question is simple: is the magazine market dead?
No, it just transforms.
