An article in Ragan’s Grapevine gives corporate editors several tips on how to get an increase for the publication budget.
According to the article, a strategy plan is necessary in presenting a business case for the company publication. The strategic document needs the following key elements:
1. Sum up the top ten goals of the publication through a mission statement. To show the unique value of the publication, those goals that have not yet been covered by other communication vehicles should be emphasized. Short action-focused language should be used.
2. List and describe concrete results that the publication can achieve for the company, but keep the expectations realistic.
3. List and describe how the increase in the budget will be used to improve the publication, including new processes and procedures that may be availed of.
4. Include a timeline for all the suggested changes in the publication. This should be aligned with other corporate strategies.
5. Describe how you intend to measure the effectiveness of the changes to be made in the publication, and how you intend to act on feedback gathered.
6. List and describe where and how you can cut costs for the company in the publication in order to maximize the increased budget. Do your research on the cost effectiveness of changes in paper size, paper stock and even publishing deadlines. Survey various printers to gather competitive pricing.
7. Link your suggestions for the improvement of the publication to important company initiatives and the goals of other departments. Indicate concretely how your budget increase can also support certain areas of key departments in the company. Show, for instance, how your publication changes will generate more traffic for the corporate intranet, or decrease time spent by managers in explaining company changes to employees.
In other words, prove to management that the publication’s budget increase will be profitable for the company.