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<em><strong>Go deep, not wide, in content and audience.</strong> That's my quick overall takeaway from today, Day Two of our forum on sustainable journalism. <a href="http://www.journalismaccelerator.com/questions/community/niche-news-startups-how-do-you-make-it-work-financially/">Today's conversation</a> focused on particular opportunities for niche sites.</em>

Let’s start with <a href="http://www.journalismaccelerator.com/questions/community/niche-news-startups-how-do-you-make-it-work-financially/#comment-1744">this question</a>, and a thanks to the Oregonian News Network’s <a href="http://www.journalismaccelerator.com/members/corneliusswart/">Cornelius Swart</a> for posing it:
<blockquote>Who if any have done or understood the demographics of their audience before they launched their projects. Of those out there in the niche world, who has done a media audit since they launched? Are people just pricing products and seeing if they take off? Do people have a sense of audience/customer base in terms of income and consumer habits/values?"</blockquote>
That’s still open to answer on the <a href="http://www.journalismaccelerator.com/questions/community/niche-news-startups-how-do-you-make-it-work-financially/">forum thread</a>. <strong>Based on comments throughout the conversation, niche news sites have particular opportunities to build tight relationships with their audiences – and that is key to bringing in revenue</strong>. <a href="http://www.journalismaccelerator.com/members/rcoats/">Rusty Coats</a> put it <a href="http://www.journalismaccelerator.com/questions/community/niche-news-startups-how-do-you-make-it-work-financially/#comment-1735">this way</a>: To monetize deep content, own the master narrative.
<blockquote>That is, become the voice of authority (through your coverage, of course) on a subject matter – and work diligently to hone that subject matter so that it isn’t too horizontal. Deep coverage is vertical. Readers and underwriters appreciate the focus – and that helps weed out who is NOT your audience or underwriter community." <!--more--></blockquote>

Whether in pursuit of ads, audience, or content, <strong>an approach that works for one niche site won’t necessarily for another</strong>, <a href="http://www.journalismaccelerator.com/questions/community/niche-news-startups-how-do-you-make-it-work-financially/#comment-1642">notes</a> Street Fight’s <a href="http://www.journalismaccelerator.com/members/david-hirschman/">David Hirschman</a>. <strong>But there are plenty of tips in this thread to learn from and maybe mimic</strong>. For example:
<ul>
	<li><strong><a href="http://www.journalismaccelerator.com/questions/community/niche-news-startups-how-do-you-make-it-work-financially/#comment-1653">Pre-sell</a> new potential revenue ideas</strong>, suggests <a href="http://www.journalismaccelerator.com/members/bbuderi/">Bob Buderi</a> of Xconomy.</li>
	<li>Sell <strong>ads for set blocks of time</strong>, three months for example, <a href="http://www.journalismaccelerator.com/questions/community/niche-news-startups-how-do-you-make-it-work-financially/#comment-1621">says</a> Oakland Local founder <a href="http://www.journalismaccelerator.com/members/susanmernit/">Susan Mernit</a>.</li>
	<li>Think of <strong>CRM as your day job</strong> <a href="http://www.journalismaccelerator.com/questions/community/niche-news-startups-how-do-you-make-it-work-financially/#comment-1676">advises</a> Rusty Coats.</li>
	<li><strong>Try financial models that are unusual for news</strong>, like the <a href="http://www.journalismaccelerator.com/questions/community/niche-news-startups-how-do-you-make-it-work-financially/#comment-1652">for profit co-op</a> that <a href="http://www.journalismaccelerator.com/members/ikaikahussey/">Ikaika Hussey</a> is starting.</li>
</ul>
The conversation makes it clear <strong>ads alone are not a revenue source to rely on</strong>. <strong>But if you want to get some advertising, be ready to work</strong> at it, <a href="http://www.journalismaccelerator.com/questions/community/niche-news-startups-how-do-you-make-it-work-financially/#comment-1658">says</a> INN’s <a href="http://www.journalismaccelerator.com/members/kljdavis/">Kevin Davis</a>.
<blockquote>… publishers need to be aware…a) that there are a number of well financed competitors that are fighting for local advertising dollars (both traditionally and non traditionally) and that b) that as a result local businesses are getting more sophisticated and c) its going to increasingly be a dogfight so be prepared to tackle this revenue stream wholeheartedly, with dedicated resources and a good plan of attack."</blockquote>
<strong>Bottom line?</strong> <a href="http://www.journalismaccelerator.com/members/dianelund-muzikant/">Diane Lund</a> of The Lund Report <a href="http://www.journalismaccelerator.com/questions/community/niche-news-startups-how-do-you-make-it-work-financially/#comment-1672">says</a> "<strong>we need to convince readers that news isn’t free</strong>.”

<strong>How?</strong> <a href="http://www.journalismaccelerator.com/members/andrenatta/">Andre Natta</a> of Birmingham’s The Terminal says <strong>ask for support</strong>! <a href="http://www.journalismaccelerator.com/questions/community/niche-news-startups-how-do-you-make-it-work-financially/#comment-1699">Let readers know</a> all the ways they can support you. And to sell content for cash instead of exposure, co-director of the New England Center for Investigative Reporting <a href="http://www.journalismaccelerator.com/members/bergantinojoe2/">Joe Bergantino</a> offers <a href="http://www.journalismaccelerator.com/questions/community/niche-news-startups-how-do-you-make-it-work-financially/#comment-1693">this</a>: "<strong>The first step is truly believing your work is worth money</strong>."

<strong>The <a href="http://www.journalismaccelerator.com/questions/community/niche-news-startups-how-do-you-make-it-work-financially/">entire thread</a> is well worth a read, offering comparisons of ad platforms, discussions of premium content, and evaluations of training and social media consulting as sources of revenue</strong>. We’ll parse more from both today’s conversation and <a href="http://www.journalismaccelerator.com/questions/community/local-news-startups-how-do-you-make-it-work-financially/">Tuesday’s forum</a> on local news sites, noting themes that deserve more conversation and research.