Business Realisation: Rising by Dominika Rekas (quirkydom)

BUSINESS REALISATION DOMINIK A REK AS WORD COUNT: 7,949 N06960 75

CONTENTS

1. 7 8 9 10 12

3. 4

25 26 31 32 33 34 36 39

INTRODUCTION Introduction Project Justification Research Aim Key Insight Reflections Methodology

MARKET Macro Trend Micro Trends Magazine & Newspaper Market Digital Publications Youth Publications Social Enterprises Competitor Analysis Porterâ&#x20AC;&#x2122;s 5 Forces

2. 16 18 19 20 22 23

4. 41 42 46 47 48 50

OPPORTUNITY PESTLE The Problem The Gap Idea Generation The Big Idea Consumer Testing

BRAND DEVELOPMENT Brand Essence Brand DNA Distribution Membership Merchandise Consumer Segmentation

5. 54 55 55 56 57 60 61 63 72

7. 81 82 84 84 85

BRAND MANAGEMENT SWOT Objectives Ansoff Matrix Marketing Strategy Matketing Mix AIDA Advertising Campaigns Timeline

CONCLUSION KPIâ&#x20AC;&#x2122;s Risk Assessment Future Growth Objective Review Conclusion

6. 75 76 77 77 78 79

FINANCES Sales Forecast Startup Costs Profit & Loss Sensitivity Analysis Cash Flow Marketing Budget

APPENDIX 1. References 2. Bibliography 3. Image References 4. Ethical Statement 5. Consent Forms 6. Primary Research 7. Branding Exploration 8. Finances

INTRODUCTION PROJECT JUSTIFICATION KEY INSIGHT REFLECTIONS RESEARCH AIM METHODOLOGY

INTRODUCTION 6

“T he inve s t o r s o f t he future will be le s s obsesse d wit h s ho r t term ‘sh a r e ho ld e r va lu e ’ . Intangible s w ill m a tte r m ore, a nd o r ga nis a tio ns will be a s s e s s e d o n t he ir socia l a nd e nvir o nm e nt a l contribu t io ns . ”

INTRODUCTION

- ( Jo ne s , 2 00 0)

Following on from the Stage 1 research study ‘The Digital Self: Generation Z, Their Values & Social Media Activity’, Stage 2 will explore the business opportunity in social responsibility amongst Generation Z (23-year old and younger). The key insights identified are analysed in depth to understand the macro and micro environment defining the current zeitgeist. Based on the research, we live in a constant state of uncertainty specifically due to the political and environmental issues affecting the UK in 2019. Through brand development and brand management, the report will explore the business idea ‘Rising’, filling the gap in the market of social enterprises wanting to change the world for the better.

PROJECT JUSTIFICATION Based on the Stage 1 insights, this report will explore a new business venture exploring the opportunity in Generation Z’s awareness of social responsibility. In the previous research study, social responsibility and equality received a high rating of importance to the 18-23-year-old (refer to Stage 1). Market research analysis explores this growing activist generation questioning the status quo and justifying the area of business opportunity. The urgency of social issues such as climate change has shed light on the need for social change, specifically with data emerging suggesting that we only have 12 years left to change the climate and prevent a catastrophe (Watts, 2018) . Nonetheless, in the previous research study, some data suggested that not all Gen Z are the activist they wish to be with reasons being ‘fear of confrontation’ or ‘lack of confidence’. This insight further supports this business opportunity envisioning a socially active and responsible generation.

RESEARCH AIM The aim of this report is to explore a new business venture idea, supported by insights and primary research reassuring the feasibility. The business will be innovative and aim to fill a specific gap in the market and create a benefit to the society.

OBJECTIVES To analyse the Stage 1 main insights in an analytical manor and identify the opportunity within the gap in the market. To study the opportunities through an in-depth examination of the external environment through trends and marketing models. To understand the social enterprise market and the opportunity in social driven businesses To profile the socially responsible generation of youth in consumer segmentation (to understand their level of social responsibility) as well as the silent activist group which believes in causes however doesnâ&#x20AC;&#x2122;t act on this due to various reasons. To pitch an engaging communication strategy with social change at the heart of each campaign, with close consideration of the type of consumer that it targets To consider the risks and feasibility of the business plan and suggest effective factors to overcome these.

KEY INSIGHT REFLECTIONS Based on the stage 1 study, a variety of insights emerged as displayed which touched on the topics of health & wellbeing, social responsibility, generational expectations and the vast expansion of digital connectivity.

1. 2. 3. 4. 5.

GEN Z STRONGLY BELIEVE IN SOCIAL RESPONSIBILIT Y AND EQUALIT Y GEN Z SHOW EXTENDED/EX AGGERATED VERSIONS OF THEMSELVES ONLINE (THE BEST BITS) RATHER THAN COMPLETELY DIFFERENT PERSONAS GEN Z AREN’T ALL ENTREPRENEURIAL

THE OVERUSE OF SOCIAL MEDIA HAS A NEGATIVE IMPACT ON THE HEALTH & WELLBEING OF THE INDIVIDUAL , RATHER THAN MAKING ONE SELF-INVOLVED THERE IS A NEED TO JUSTIF Y OWN BELIEFS AND ACTIONS TO PEERS, ESPECIALLY IF IT DOESN’T FIT IN WITH THE NORM OR WHAT EVERYONE ELSE IS DOING

SOCIAL RESPONSIBILIT Y Gen Z strongly believe in social responsibility and equality according to research conducted in Stage 1. In a ranking of importance, social responsibility received an average of 4.1 out of 5 and equality received an average of 4.7 (out of 102 respondents) (refer to stage 1). One to one interviews in this study supported the online questionnaire with individuals stating they attended the #Youth4Climate protest for ‘change’ (see appendix 6.viii). As explored further in the report, Gen Z’ers don’t accept the world at face value and are prepared to some extent act on these beliefs. This can be as little as signing an online survey to attending a protest (refer to Stage 1).

CONFIDENCE According to the Stage 1 secondary research, Gen Z are ‘lazy, entitled narcissists, selfish and shallow’ growing up with technology right by their side, coining the name ‘digital native’ (Staiger, Unknown) . Primary research however showed that although Gen Z are very digitally active and can spend as much as 6 hours a day on their phones (refer to Stage 1), their confidence can be at an all-time low. Primary research found that the average confidence level of Gen Z is 6.4 out of 10 (100 respondents took part in the survey, see appendix 6.xiii). The exposure to so much negativity online, such as unrealistic body expectations, unrealistic lifestyle and a filtered reality, is creating an unconfident and insecure generation.

METHODOLOGY

PRIMARY METHOD

PURPOSE

KEY INSIGHT

LIMITATIONS

Interview with Matthew Gill – Raw Print owner & FCP lecturer

To gain a greater understanding on how to make money through publications, something Matt is likely to know due to running a Nottingham based indie publication Raw Print. I also wanted to gain a creative understanding of how to make a magazine from the theme to the content – keeping the publication consistent.

Matt suggested looking into magazines that are doing a similar thing to get visual inspiration including Positive News, No Man’s Land, Pop up magazine, Do lectures and Lever Hulme.

Matt specialises in niche publications (zines) therefore potentially has limited knowledge on bigger publications and their structure. Being a Fashion Communication and Promotion lecturer, Matt has a more creative outlook on publications and prioritises their visual features rather than have a business feasibility.

Interview with Julie Nightingale – Journalist and Magazine Journalism lecturer

To gain an initial insight into the magazine industry and pitch the idea. I wanted to get feedback from a professional working in the industry to get an initial feasibility check as well as understand further the opportunities for profit in publishing.

Julie suggested ways to improve the initial idea by narrowing it further to a specific niche such as politics as publications in this area are selling really well with the current zeitgeist. She helped me understand in a greater depth how magazines create revenue including non-traditional ways such as partnerships.

Julie’s speciality lies in journalism therefore she’s likely to have a more editorial approach rather than a business or creative one. Rising isn’t solely focused on making money but rather creating an impact in the community.

Ethnography: March 4 Women & #Youth 4 Climate

To actively place myself with the individuals driving social change and discuss their social responsibility.

At these events I spoke to individuals asking them what made them come to the event. At March4Women the individuals stated they came to use their privilege, because it’s important to speak about inequality and because they’re active in the communities hosting the event. At the #Youth4Climate protest the majority of individuals stated they came for change.

The chats were very informal and didn’t lead to exchange in contact details. The individuals that I spoke to were also a random selection.

Generation Z online survey

To fill gaps of knowledge about the type of consumer that I’m targeting with my business idea, Rising. This being focused around confidence, media consumption and relationship with publication.

The survey was really helpful in establishing the average confidence levels of gen z (6.4 out of 10) as well as how that impacts them (71% said yes to confidence stopping them from attending events). The survey also found the common political stance (Labour party) and the actions gen z are taking (or are willing to) towards social change.

The survey had mostly multiple answer questions which showed limitations in the depth of the answers.

Concept Testing online survey

To concept test the business idea amongst the target consumers and establish feasibility.

78% of the participants stated they would read the Rising Issue with 73% wanting to join the community through membership. 60% of participants however said they wouldn’t like to pay for the membership. With this in mind, Rising will have to make sure that the benefits of joining are clear throughout the whole branding and marketing.

Due to targeting a small age group, it was difficult to accumulate 100 responses in order to have reliable data. The survey was ultimately shared on my personal social media accounts which, specifically on Instagram, is predominantly female.

Focus group – Branding Concept Testing

To gain an understanding of what Gen Z find eye catching and appealing in print magazines. I wanted to concept test my big idea with the target consumers and understand if they would be interested in using it.

The focus group was very beneficial in terms of the branding and the type of creative direction they preferred. The focus group showed that Gen Z don’t like handwritten fonts, want to be told about current affairs as it is and not washed down through ‘pretty’ branding.

There were only 2 males present which meant there wasn’t a reliable enough male perspective on the creative direction. Another limitation is that the content reviewed was highly subjective as it was asking an individual’s preference on visuals which showed a variety of perspectives in the study.

The Big House Creatives Club event – Think Like a Fashion Designer & Be an Activist

Hear from Ann Priest, the visiting International Dean of Beijing Institute of Fashion Technology and her thoughts on activism. From listening to her voice her views on a Notts TV Debate about youth activism I wanted to learn more from her, specifically due to her experience with the youth.

Ann spoke about the implications of designing and how that impacts our planet. She spoke to business creatives about the importance of change and how we need to help the youth help themselves. In the Q&A I asked - With this need for activism to do good and make a change, how do you think we can encourage the younger generation to act?

A potential limitation is the presence of bias. Due to Priest working with the creative youth she is more likely to be exposed to socially responsible students representing this activist movement.

Interview with Alex Smith – Ideas on Paper store owner

To gain an insight from a book shop owner on the publications that are selling well and the concepts that are popular. I also wanted to understand the process of stocking a publication in a bookstore.

Popular publications covered topics including travel, football, music & food. However, it’s important that the publication is aesthetically appealing for it to succeed.

Alex’s perspective was very profit focused and although when business planning it’s key to create profit, the business may have an alternative aim such as aiding social change (like the Rising).

METHODOLOGY

SECONDARY METHOD

EXAMPLES

KEY FINDINGS

LIMITATIONS

Books

-The Big Idea: Today’s marketplace is a war of ideas (Jones, 2000) - The Psychological Meaning of Shapes in Logo Design (Sukhraj, 2017) - The Designer’s Dictionary of Colour (Adams, 2017) - The Psychology of Consumer Profiling in a Digital Age (Gunter, 2016)

Books were crucial in providing information on the marketing and branding theories and models that are used in business planning. The information helped to structure the report (for example using the SOSTAC model) as well as provide key information on branding (such as colour and logo symbolism).

Some of the literature used was slightly outdated with some books published in 2004 (Smith), 2005 (Ambrose, Harris) & 2000 (Jones).

Articles

-Students Skip School Across Europe to Demand Climate Action (Specia, 2019) - The Power to Change the World: A Teaching Unit on Student Activism in History and Today (Schulten, 2018) - How to tell sustainability stories on social media (Yeomans, 2014) - Here’s How Many People Participated in Women’s Marches This Year (Morris, 2018)

Articles were specifically used to understand the mainstream media and what topics are being covered by publications. The articles supported the micro trends emerging, as identified by reports with a higher reliability.

Publications specifically have an angle to their stories. Whether it’s for a political gain or a specific belief that resonates with the publication. It’s a known fact that publications can have a bias in the content that they share having a specific agenda (Strüver, 2016).

Reports

- Start Your Social Enterprise (Social Enterprise UK, 2017) -Be your own Activist (Deloitte, 2019) -Future 100: 2019 (J Walter Thompson Intelligence, 2019) -The Political Consumer (J Walter Thompson Intelligence, 2016) -The State of Fashion (BoF, 2019)

The purpose of using reports was to support primary research insights with substantial evidence. The reports were specifically helpful in identifying the micro trends (activism), as well as understanding the market my product will sit in (such as social enterprises).

Although the report may be backed by research and data, the company writing the reports may have a motive for producing the work. The primary research conducted can be biased with a specific outcome pre-anticipated.

Magazines

Weapons of Reason: Towards Superintelligence, Issue 6 Woman Kind, Issue 19 Boshemia, Issue 1,2, 3 &4 Shado, Issue 1 Sister: The Survivor Issue, Issue 10 Positive News, Issue 96 Caboodle, Issue 7 Crack, Issue 92 Gaffer, Issue 1

Due to creating a publication in the business plan, it was key to understand the magazine market. By analysis, these publications, their design style, articles and the content that is shared, paved the way for the branding of Rising by understanding what people find visually appealing. The publications were also crucial in understanding what articles people are writing about.

The biggest strain in this type of research was a financial one. With print magazines you have to purchase the copies to be able to take longer, more in depth reads of the content. There was also the possibility that although it’s in print and circulation, it doesn’t technically mean that it’s good journalism and design.

PESTLE THE PROBLEM THE GAP IDEA GENERATION THE BIG IDEA CONSUMER TESTING

OPPORTUNITY “W e live in a w orld not of a ns w ers bu t of qu e s tio n s . There’ s a n end em ic im pa t ience w it h the s tatu s qu o, a f everis h pu rs u it of t he next b ig t hing. ” Based on the stage 1 study, the opportunity chapter will outline in further depth the gap in the market supported by marketing models and consumer testing to ensure maximum feasibility.

– Jones , 2000

PESTLE The PESTLE model is used to understand the current zeitgeist and the external political, economic, social, technological, legal and environmental factors that need to be considered when mapping the business opportunities.

ISSUE:

Political disruption is at the heart of the UK government with Brexit negotiations continually dragging since 2016, with the vote to leave winning with 51.9% majority (BBC, 2016). The vote to leave the EU has created a lot of uncertainty for the UK population with “two thirds of Brits [being] more stressed overall than they were five years ago, with a third of people now citing current affairs like global warming, pollution and Brexit as a considerable source of that stress.” (Jones-Bell, 2018)

RELEVANCE: The growing level of uncertainty and distrust in the political system shows the trigger points for rebellion. With the current UK politics being split between leaving and remaining in the EU, as many as 670,000 people (in a single event) have gathered at protests to question and reject the current state of affairs (Rathi, 2018).

ISSUE:

The economy is at a major critical point following on from the political uncertainty in the UK. Since 2016 (vote to leave EU), the pound value has fallen by 12% (Reland, 2018) to the euro, meaning that the economy is slowing down and growing at a slower speed (The Telegraph, 2019). For businesses this means that consumers will have less disposable income and more prone to only buying the essentials or stock piling in the event of a crisis (BBC News, 2019). “The UK economy is beginning the process of adjusting to a new and as of yet uncertain economic relationship with the European Union.”(Watts, 2017) The trade specifically is at risk as there is no clear deal with the EU countries on how they will import and export goods post Brexit.

RELEVANCE: Again, this zeitgeist of uncertainty is creating confusion amongst the UK citizens meaning more people are retaliating and expressing their opinions on the current state of affairs. “Huge numbers [of young people are] at risk of 'a life of unemployment and poverty'.” (Merrick, 2018) For the youth this means that they have to start actively understanding the politics in the UK as it is directly affecting their future.

ISSUE: Social movements are increasingly relevant in today’s society with huge numbers of people coming together rallying and protesting the status quo. This was specifically seen in the recent march for the People’s Vote in London, with over 1 million people attending (Marsh, 2019) . Social change specifically is growing amongst the youth which is known to be a more empathetic generation, with 92% saying they care about social and environmental issues (Cone, 2017, pg 2).

RELEVANCE: This spur of social responsibility, especially amongst the youth, shows a potential area of exploration in aiding the individuals in making positive change happen. The social movements also suggest a certain rejection of the current state of affairs amongst the youth.

ISSUE:

The development of technology is exponentially growing with connectivity made easier than ever. Generation Z, also known as the Digital Natives, are the youngest generation that have grown up with technology by their side, spending almost 10 hours a day connected online (Cone, 2019, pg 14). Augmented reality is a recent development in technology, becoming more accessible to the general public for example, through social media apps like Instagram (Future Thinking, 2018, pg 14). Sound technology is another expanding development, with products such as Alexa and Google Home acting as the home assistant, able to play music, answer questions and connect to home devices such as heating and lighting.

RELEVANCE: The interconnectedness of the youth in 2019 means that information is demanded at a much higher pace. 92% of generation Z keep up with current affairs though social media (see appendix 6.xiii), meaning that in order to stand out amongst competitors, Rising needs to have a strong and engaging digital strategy to succeed. Omni channel communication is key to stay on Generation Z’s radar, with their average attention span being 8 seconds long (MediaCom, 2016).

ISSUE: The issue of data collection has faced lots of scrutiny in the past 5 years with the GDPR law passing in 2018. Consumers had to agree to brands holding their information, therefore many companies lost their databases.

RELEVANCE:

With Rising being a community, data collection will be an everyday activity, with data collected through the website and events. This will be in the form of an email to receive the newsletter, and occasionally home addresses for delivery of the print publication. It is important that the data collection complies with the law by making consumers opt in to receive information from us as well as being able to store their information.

ISSUE:

Environmental causes have had a recent push in urgency, with figures emerging that we only have a limited time on this earth (Watts, 2018). As mentioned in Social, climate change is one of the most popular social causes from plastic straw bans, to Blue Planet to President Trump stating it’s all a ‘hoax’. The recent #Youth4Climate movement led by teenagers is specifically having a major impact on the education of society because of the urgency of environmental change (Connect4Climate, Unknown) . While attending one of these protests for primary research, an attendee stated that their concern for climate change is a recent discovery as it’s been brought to their attention due to its urgency (appendix 6.viii).

RELEVANCE: Environmental issues have been affecting Generation Z specifically, as it’s a major influence on their futures and wellbeing. It has become an issue that they can stand for and actively take part in, whether that’s reducing the consumption of fast fashion, or take on the zero-waste lifestyle. Being the digital native, Gen Z are also actively promoting these changes through social media, keeping the cause in mainstream media and making other young individuals aware of the situation. In the fashion industry this can be reflected with the popularity of Depop, a second hand market app, amongst Generation Z (Butler, 2018).

THE PROBLEM PROBL EM THE There is a growing demand for social change, with political and environmental issues reaching an all-time level of urgency and uncertainty. Environmental issues were brought to society’s attention with claims such as ‘there are supposedly only 12 years left to change the climate and prevent a catastrophe’ (Watts, 2018). In the UK, political uncertainty is a key focus of the media which will inevitably reshape the futures of UK citizens (Tara,2019). The social decisions made now will inevitably affect the youth’s long-term futures, unlike the Baby Boomers (Willetts, 2010). 60% of the UK parliament is currently made up of Baby Boomers which arguably have different priorities to the youth (Statista, 2018). The rise of the social movements sheds light on the inequalities that society faces today, specifically when it comes to gender and race.

THE GAP GAP THE As explored through The Problem, weâ&#x20AC;&#x2122;re in a state of constant uncertainty. The youth are becoming more aware of the current affairs (92% through social media â&#x20AC;&#x201C; see appendix 6.xiii), and opposing through demonstrations. It seems as though the youth are trying to express their opinions and beliefs, as seen through marches and protests in the media. The gap lies in that platform for the youth to feel that they can be heard. The urgency for social change suggests that businesses have the social responsibility to act on this and make positive change in their communities. Maslowâ&#x20AC;&#x2122;s hierarchy of needs (see Stage 1) identifies the need for belonging, self-esteem and self-actualisation in all human beings which in the back bone to this business opportunity.

IDEA GENERATION

IDEA

Marketing agency specialising in making positive social change with brands

Social media platform connecting individuals passionate about social change

A social enterprise with the purpose of making positive social change in the community

IMPACT

COST

EASE

Scale: -5 (very detrimental) to +5 (very positive)

Scale: 1 (a lot) to 5 (not a lot)

Scale: 1 (very difficult) to 5 (very easy)

TOTAL

Based on the Stage 1 insights, the problem and gap in the market, 3 ideas have been developed varying in execution & having different aims. The ICE model is used to establish which idea is the most feasible based on impact, cost and ease.

AIM

RATIONALE

Create and build loyal customers with existing brands through value driven activities encouraging siding and acting on social change.

A key insight from stage 1 showed that Generation Z highly believe in equality and social responsibility, however don’t act on these beliefs. A potential area of exploration could be to use this information with existing brands. As brands now are working towards being relatable and relevant to their consumers with the rise of the authenticity trend, there is an opportunity to deliver this expertise.

AIM Helping Generation Z act on their beliefs through a community of individuals passionate about social change.

AIM Encouraging Generation Z to act on social change by providing them with a platform to express beliefs on societal issues.

RATIONALE A key insight from stage 1 showed that Generation Z highly believe in equality and social responsibility, however don’t act on these beliefs due to low confidence. In primary research respondents said, “I don’t want to get involved if there is confrontation” & “I am not confident to talk about my values, so I never acted on them” (refer to stage 1). Digital connectivity provides the youth this notion of acting without making too much effort, hence a platform would fulfil this need for social responsibility.

RATIONALE A key insight from stage 1 showed that Generation Z highly believe in equality and social responsibility, however, don’t act on these beliefs. The enterprise would aid Gen Z to act on social change making it easier and more accessible.

EXECUTION Businesses, instead of retraining their staff and dedicating larger marketing budgets to achieving this ‘authenticity’, could use an agency either on one off projects, long term relationships or training brands to deliver authentic content throughout their communication.

EXECUTION A social media platform for Gen Z (23 and younger) to socialise as well as make societal change. This would be through online activities such as signing petitions and joining up with other platforms to share cause driven content. As well as online, there would be opportunities offline such as local events including gigs, coffee mornings and workshops, all focused around helping gen z act as well as build up their confidence.

EXECUTION With multiple touch points to the young consumer, the brand could build an offline community (with online presence) and act on trending causes. The online presence would act as a way to keep in touch and educate about popular causes sharing facts, stories and perspectives. The offline activities would include events such as workshops, seminars and gatherings with a specific purpose.

THE BIG IDEA Upon evaluation of the Stage 1 insights and the idea generation, Idea 3 showed the biggest opportunity for success, being the most feasible with the most positive impact, low cost and ease of execution. With the social enterprise business model in place, the social cause will be at the heart of the mission, rather than an addition to a business which Ideas 1 and 2 suggested. Through an online and offline publication, Rising (Rising Issue for print edition) will give Generation Z a platform to share their stories around the political, social and environmental issues that are affecting them. This can vary from currently trending issues such as climate change, Brexit and knife crime, but also exploring a wide variety of topics as reflected in the attached magazine. These stories will be shared on the website throughout the year as well as a bi-annual print version showcasing a selection of articles and exclusive print articles (see visuals).

“It’s a mistake now to think ‘I’m going to launch a magazine’ because you now have to build a brand that’s going to talk to people who want to engage with that brand, and you need to do that through multiple channels. “ -Alex Smith, Ideas on Paper owner (appendix 6.iv)

CONSUMER TESTING To test the big idea, an online concept testing survey was undertaken to measure the likelihood of success and the level of readiness amongst the consumers (see appendix 6.xii). The paid membership was not perceived well with consumers meaning that the benefits of the community will have to be made clear throughout the communication plan.

78% OF THE PARTICIPANTS SAID THEY’D READ THE PUBLICATION

73% OF THE PARTICIPANTS SAID THEY’D CONSIDER JOINING THE COMMUNITY THROUGH MEMBERSHIP

60% SAID THEY WOULDN’T JOIN IF THE MEMBERSHIP CAME AT A CHARGE

MACRO TRENDS MICRO TRENDS MAGAZINE & NEWSPAPER MARKET DIGITAL PUBLICATIONS YOUTH PUBLICATIONS SOCIAL ENTERPRISES COMPETITOR ANALYSIS PORTERâ&#x20AC;&#x2122;S 5 FORCES

MARKET

MACRO ENVIRONMENT

DIGITAL CONNECTIVIT Y & HEALTH AND WELLBEING

Digital connectivity is developing exponentially with the rise of the ‘Internet of Things’ connecting all devices, meaning consumers are always connected to the online world, receiving information faster than ever (refer to Future Thinking). Recently however, the conversation around the consequences of the rise of digital connectivity has been circulating, linking the digital trend with health & wellbeing concerns. Social media wellbeing is a topic of conversation, with celebrities and influencers sharing the dangers of the overuse of social media.The youth specifically have found digital connectivity as one of the main sources for negative health and wellbeing. Social media has shown to cause mental unhappiness, anxiety and even depression.The study found that 34% of Generation Z were quitting social media permanently stating that it ‘tears apart their self-esteem’ (Green, 2019, pg 36).

MICRO TRENDS

RISE OF THE ZINE A zine is a publication, usually mass-produced by photocopying, with the means of telling a story (Urban Dictionary, 2003). Since emerging in the 1920s with amateur magazines such as The Comet celebrating the phenomenon of sci-fi (Welsh, 2012), it has entered mainstream culture with the likes of Kanye West producing a zine showcasing his Calabasas clothing collection (Sawyer, 2017), giving the fashion industry an innovative way to communicate the brand story. Local communities specifically celebrate this trend with ‘zine fests’ emerging to celebrate local artists and their work, through festival-like events selling handmade and digitally printed zines (see page 28 for Notts Zine Fest). Shutterstock acknowledged the rise of the zine culture in the 2019 Creative Trends report stating: “In the digital age, zine culture lives on in the decentralized mindset of social media where independent makers can share, and niche groups can discover.” (Shutterstock, 2019) The zine culture is using the vastly expanding digital connectivity to the digital landscape therefore becoming a more accessible medium.

ALABASAS COLLECTION

CALABASAS COLLECTION

NOTTS ZINE FEST

“ OVER THE PAST FIVE YEARS, CAMPAIGNS WITH A SOCIAL, ENVIRONMENTAL, OR

POLITICAL GOVERNANCE DEMAND HAVE RISEN STEADILY. SINCE 2014 THERE HAVE BEEN 253 CAMPAIGNS IN THE UNITED STATES SPANNING MULTIPLE INDUSTRIES.

“

(FACTSET, 2018)

ACTIVISM

The demand for socially responsible brands has become common in 2019, with the demand for authenticity and transparency amongst the consumers. Start-ups are now more likely to receive investment for cause driven business ideas, with investors searching for good returns and greater accountability from companies (Deloitte, 2019). The political situation in the UK specifically has seen a rise in activism due to the Brexit proceedings continuing for nearly 3 years (at the time of writing). The youth are now more aware of the political landscape, with 92% keeping up with current affairs through social media (see appendix 6.xiii). In March, around one million people gathered in London for a People’s Vote protest, with messages such as ‘the best deal is no Brexit’, ‘it’s my future that you’re ruining’ and ‘strong and stable together’ (Marsh, 2019). This rise of activism spans across various causes such as feminism and climate change, as seen through #March4Women and #Youth4Climate.

MAGA ZINE + NEWSPAPER MARKET The saying â&#x20AC;&#x2DC;magazines are deadâ&#x20AC;&#x2122; is often used in the business landscape (Odell, 2018) with the magazine market declining at a steady rate with few signs that it will accelerate or decelerate significantly (McGrath, Magazines: Market Size and Forecast, 2018). The circulation of print magazines is currently at 852 million (2018), and predicted to drop by 15% between 2018 and 2023 to 720 million (McGrath, Magazines: Market Size and Forecast, 2018). National newspaper sales have also seen a fall of 10% to 1.8 million (McGrath, National Newspapers: Market Size and Forecast, 2019). Although the overall sales of print magazines are declining, online readership is thriving. The Guardian for example received a daily average of 3,347 readers in 2018, compared to 741 print readers, suggesting digital content is potentially where the publication market is heading (News Works, 2018).

DIGITAL PUBLICATIONS Social media enables publications to reach greater audiences generating click-throughs to the website. Facebook specifically works as a news feed platform, bringing a variety of content and publications together. The Spectator is a publication that has successfully taken advantage of their digital platform, allowing people to read two Spectator articles a week without subscribing online. According to the magazine, once people are asked to subscribe, the majority then pick a print/digital bundle rather than simply the digital-only option, because they are entitled to a discounted three-month trial (McGrath, Market Segmentation, 2018). This tactic shows a potential way to acquire new customers for The Rising Issue.

YOUTH PUBLICATIONS Newspapers have recently started exploring ‘junior’ editions of their publication which has shown a growth in sales. “The Week – Junior, which targets 8-14-year-olds, has seen significant print growth since its launch in November 2015. The success of the title indicates there is a strong desire for high-quality, in-depth news reporting for younger people” (McGrath, Market Segmentation, 2018). It’s possible that due to the current zeitgeist (see PESTLE), the younger generations are demanding more content targeting them specifically to keep up with current affairs and be aware of what is happening in the society.

Primary researched showed the potential of print magazines with Alex Smith (Ideas on Paper store owner, appendix 6.iv) pointing out the success of a newly released magazine ‘Gaffer’. With a launch in February 2019, Gaffer already have 59.6K followers as well as multiple distribution channels including their website, Stack Magazines and bookstore stocking (e.g. Ideas on Paper).

SOCIAL ENTERPRISES The term ‘social enterprise’ is defined as being “all about combining business with social justice, and using business and enterprise as a force for good and a way of making change” (Social Enterprise UK, 2017). The key difference between a social enterprise and a charity, is charities often fund their good work through donations and fundraising, while social enterprises often sell products or services, in order to reinvest their profits (Gullands Solicitors, Unknown). Social enterprises are currently worth £60 billion to the UK economy which represents 3% of UK GDP as well as employing roughly 2 million people (Social Enterprise UK, 2018). Some examples of social enterprises in the UK include Johnson and Johnson, The Big Issue, NatWest and Santander.

CHARACTERISITICS Social Enterprises all have 5 characteristics in common They reinvest or give away more than 50% of their profits to further their social mission. They are transparent in how they report their social impact and how they operate They have a social mission written into their company They make more than 50% of their money from trading They are independent: owned and controlled in the interests of the social mission Source (Social Enterprise UK, 2017)

BUSINESS MODELS

The Community interest company (CIC) is a structure specifically created for social enterprises in 2005; there have been about 1000 registered each year since then. A CIC can either be a CLG or CLS, and it has additional protections in place: every CIC has to report on its social mission (‘community interest’) each year, there are limitations (for CLS) on profit distribution, and all CICs have a clause which means any assets are retained for community benefit. Because of these additional protections, CICs can often get access to some grant funding and are understood as being clearly a social enterprise.

Registered charities can be social enterprises, as long as the amount of income they earn from trading is more than 50%; the main difference from CICs or companies is that they are more heavily regulated (by the Charity Commission), you have a board of voluntary trustees (rather than directors), and there are some limitations on trading - it generally also takes longer to register. On the positive side, because of the heavier regulation, charities have greater access to tax reliefs (for example on business rates) and grants from foundations.

Source (Social Enterprise UK, 2017)

Co-operatives are the other most common form for social enterprises; co-operatives are more participative and democratic in their ownership models. As can be seen from the table below, there are two main types of co-operative, the community benefit society (CBS or ‘BenCom’) and the more standard industrial provident co-operative society (IPS). The CBS has social objectives built into its governing documents, so is often chosen, but an IPS can be a social enterprise too. Co-operatives are regulated by the Financial Conduct Authority (FCA).

Companies can either be Companies limited by guarantee (CLG) or Companies limited by shares (CLS); CLGs have no shareholders, only ‘members’ who cannot profit personally from the company. A CLS can be a social enterprise, but will often require adaptation (eg stating what will happen with profits, putting social mission in governing documents).

COMPETITORS

The direct competitors of Rising can be classed as publications with similar aims, as the main product of the brand is the magazine. Although Rising operates by having various activities such as events, the publications would be the direct competition. Competitors have been identified through primary research including visiting book stores as well as secondary research specifically observing the stockist website Stack, a subscription service for independent publications.

PUBLICATION

USP We represent the experimental, the new, the up-and-coming, the outspoken, the underrepresented. Boshemia is a space for the voices of womxn, nonbinary and queer folk to exist and express themselves unapologetically.

Positive News is the magazine for good journalism about the good things that are happening.

The School of Life is devoted to developing emotional intelligence. We offer a variety of programmes and services concerned with how to live wisely and well.

Weapons of Reason makes it easier to understand complex global issues, communicating them with ruthless simplicity while remaining impartial, sincere, and without agenda.

Shado is a collective and an online & print publication amplifying the voices of those at the frontline of political social and cultural change.

PUBLICATION

USP

A platform to capture the smart and defiant voices of Women everywhere.

The coolest magazine in the world.

Dazed magazine continues to champion radical fashion and youth culture, defining the times with a vanguard of next generation writers, stylists and image makers.

It has been recognized for its style of exploring subcultures as "entry points for articles about music, politics and places all over the world."

Oh Comely is a curious, honest and playful independent magazine. It's a place to meet strangers, hear their stories and look at life a little differently

MARKET POSITIONING The competitors have been positioned on a perceptual map based on how mainstream/niche their content is, against a money driven/cause driven overall business aim to establish the gap in the market as well as the potential saturation of it. These factors are key to Rising when establishing the USP.

MAINSTREAM Vice

Dazed

High Snobiety

The Tab Womankind

CAUSE DRIVEN

MONEY DRIVEN

The Big Issue Positive News Sister Boshemia

Huck

School of Life The Opal Club

No Manâ&#x20AC;&#x2122;s Land

Shado

The Earth Issue

NICHE 37

Secondary competitors are grouped into more niche organisations driven by a specific cause which are represented as complementors meaning although theyâ&#x20AC;&#x2122;re competitors they are potential collaborators for partnerships.

COMPLEMENTOR

KEY ACTIVITIES

An online community of young women discussing mainly mental health issues. GT host events, podcasts and sell own merchandise. Gurls Talk Thriving on ending period poverty by providing menstrual supplies to the less fortunate. Hosts fundraising events eg. clothing sales. Bloody Good Period

Nottingham based community striving to empower women. FFG have a website, host events and create a zine. Femme Fatale Gals Digital community built for ambitious women. Activities include publishing, podcast and video broadcasting as well as the foundation, offering funding to start-up business women. Girlboss A membership based online community for freelancers providing workshops and worksheets to take their business to the next level.

The Coven Girl Gang Online feminist content destination for and by women. FGRLS Club The Campaign Against Living Miserably (CALM) is leading a movement against male suicide, the single biggest killer of men under 45 in the UK.

CALM Extinction Rebellion is a socio-political movement which intends to utilise nonviolent resistance to avert climate breakdown, halt biodiversity loss, and minimise the risk of human extinction and ecological collapse.

Extinction Rebellion

PORTER’S 5 FORCES COMPETITIVE RIVALRY MODERATE The overall competitive rivalry can be classed as moderate, with the analysis of the threat of new entrants, buyer power, supplier power and threat of substitution. Although there are some high powers in the business forces, there is a substantial amount of control to ensure the power lies in the business.

THREAT OF NEW ENTRY

BUYER POWER

SUPPLIER POWER

THREAT OF SUBSTITUTION

MODERATE

MODERATE-HIGH

HIGH

MODERATE

The threat of new entrants can be considered as moderate as its likely new businesses driven by a social cause will emerge. However, due to Rising having a community focus, a new competitor won’t affect the extent of impact that the Rising can create. Instead it is more likely to create more opportunity for collaborations having a wider reach.

The buyer power can be considered b e t w e e n moderate and high due to the community aspect of the brand. If the community doesn’t interact with the brand by purchasing the publication, merchandise or signing up for a membership, then the Rising won’t function effectively by bringing in revenue and fulfil the brand mission. Nonetheless, it can be said that the supplier power is much greater than the buyer power.

The supplier power can be considered as high due to the reliance on collaborations and partnerships with local businesses. Rising relies on the printers to print the Rising Issue, businesses to book spaces for events and merchandise from artists and their suppliers for the online shop.

The threat of substitution can be considered as moderate as it is likely that a new business will emerge with a similar mission, however it’s not likely that they will have the same activities. The rise of authenticity and activism is likely to see businesses take advantage of this community of individuals eager to take action on social change, as reflected through complementors in the next section. Nonetheless, due to having various activities going on at the same time (such as publication, selling merchandise etc), it’s unlikely to be copied.

BRAND ESSENCE BRAND DNA MERCHANDISE MEMBERSHIP CONSUMER SEGMENTATION

BRAND DEVELOPMENT 40

BRAND ESSENCE The brand essence wheel has been used to represent the key components making up Rising, including the Vision, Mission and other characteristics reflecting what the product does for the consumer, how it can be described, how it makes the individual feel and how it looks.

VALUES

WHAT THE PRODUCT DOES FOR ME?

W STR er efu APL IN s rev e, re E olt sist &

HOW I WOULD DESCRIBE THE PRODUCT

We believe that by raising awareness of the everyday issues we face; we can change the world for future generations and live in a safe and equal society.

ON e RS ry nat PE Ang ssio ed pa l m oub Co Tr HOW THE BRAND MAKES ME LOOK

You NE OF VO ng, Info Confi ICE rma den tive t,

MISSION

The Rising starts conversations and educates on the everyday inequalities. We bring people together and make positive change happen now.

CONSUMER IDENTITY

VISION

UA l LANG ducationa nt E ed Urge pinionat O

caring, sociable, educated

Ris ITIO to com ing b NIN ge m r G po ther unit igs sit i i to es ch ve so mak an ge cial e

change, Positive social ucation community, ed

FUNCT ION BENEFI AL TS Co

m Inform munal, ative, C h Makin ange g

L NA O I S OT EM NEFIT al BE on

s t Per lmen fi Ful

HOW THE BRAND MAKES ME FEEL

BRAND DNA

‘RISING’ DEFINITION: getting extremely emotional (in a good way) about a subject. Source: Urban Dictionary

NAME The branding exploration (see appendix 7) started with a brainstorm of words resonating with the brand story and mission. A pattern of words beginning with R emerged, as portrayed through the collateral visual. To test the potential names, a selection was shown to a focus group to establish what they found appealing (see appendix 6.i for minutes). The variety of R’s were represented though Rrr Enterprise and ARrrr which the participants didn’t like, but suggested using the pattern as a potential strapline. A selection of other words from the brainstorming session was presented to the group including Rising Issue, Rethink, Whole and Emerge. Rising Issue was the most favourable with 7 out of 9 participants choosing the name. One participant suggested Raising Issue as an alternative which was tested through Instagram stories, however the majority (26 out of 46) chose Rising Issue (see appendix 6.xi).

“A LOGO IS A PICTURE THAT REPRESENTS THE COLLECTION OF EXPERIENCES THAT FORMS A PERCEPTION IN THE MIND OF THOSE WHO ENCOUNTER AN ORGANISATION.” (BUDELMANN, 2010)

LOGO LOGO

The notion of rising (or lifting) needed to be portrayed through the logo, being the symbol of the brand and the initial identifier of the business and all it stands for. The use of repetition resonated this motion of lifting well (see appendix 7 for logo exploration). Once establishing the font style and this notion of repetition, to have branding flexibility binding the brand name to a shape, meant that it can be easily adaptable, specifically in offline marketing eg. with the use of stickers. Circles represent ‘community, friendship, unity and attention’ (Sukhrai, 2017) , which was fitting with the brand vision.

COLOUR PALETTE

“

Pantone 114 C

Colours attach meaning, and our reaction to this will depend upon cultural associations, trends, age and individual preferences (Ambrose, G, & Harris, P 2005).

”

“It is universally regarded as cheerful, representing happiness, sunlight, optimism and creativity.” (Adams, 2017, pg 108)

Pantone 715 C

Pantone 326 C

“Orange has the positive attributes of heat, energy, youth and happiness. Orange is used to create a sense of immediacy.”

“Turquoise is the colour of communication, self-awareness and initiative. Its brightness creates a happy tone, similar to yellow.”

(Adams, 2017, pg 83)

(Adams, 2017, pg 181)

When considering the branding for Rising, it was really important to consider the values as well as the target consumers. With the business structure being a social enterprise, the aim to make social change had to be reflected through the content shared and the way Rising presents itself through omni channels. Colour symbolism and psychology plays a key part in branding and the way consumers view the brand. According to a stage 1 insight, Gen Z aren’t confident to act on social change. With this consumer in mind, yellow, orange and turquoise colours have been chosen to appeal and attract. Accompanying these colours, a red and blue have been chosen as the action colours used to attract attention and reflect urgency.

FONT

“Red is radical. It is extreme, representing passion, energy, fire, violence and anger.” (Adams, 2017, pg 83)

Pantone 2728 C

“It communicates honesty and loyalty. Blue is associated with the sky and water, power and authority.” (Adams, 2017, pg 129)

WEARETHERISING WEARETHERISING 0123456789!? WEARETHERISING WEARETHERISING WEARETHERISING WEARETHERISING WEARETHERISING WEARETHERISING WEARETHERISING WEARETHERISING WEARETHERISING WEARETHERISING

To reflect the urgency of the brand, a bold font has been chosen to represent this message. When testing fonts in the focus group, all the participants stated they would want to see a bold and powerful font with this brand rather than a handwritten style which although is on trend, according to participant 4, “it’s been done so many times”. The font ‘Impact’ has been chosen which will be used with capitals to reflect this urgency.

Pantone Warm Red

TONE OF VOICE -Urgent -Attention grabbing -Revolutionary

-Unapologetic -Demanding -Belonging

The below mood board has been created to represent the more urgent branding and consumer type. In the testing stages, this mood board along with a less urgent one (see appendix 7), was presented to a focus group (see appendix 6.i). As it was brought to my attention, the chosen mood board visually appeared more aggressive and less inviting. However, when testing this theory in the focus group, 7 out of 9 individuals preferred this mood board as it got to the point and didn’t wash these issues down; whereas mood board no. 2 was too generic and “done too many times”.

DISTRIBUTION

Source: Lewis, 2016

In magazine publishing, relationships with retailers and distributors is key. Rising will run a DIY distribution (Lewis, 2016, pg 92) in the first 3 years to reduce the costs.

In the first year Rising will aim to sell the publication through the website, subscription service, events (eg. zine fests) and one retailer, Ideas on Paper. With these distribution streams, the business owner will have to invest time in the relationships and promotion to ensure enough copies are sold. With the support of DBACE (Deutsche Bank Awards for Creative Entrepreneurs â&#x20AC;&#x201C; see finances chapter Cash Flow), Rising will receive support in exposure and funding to relieve the pressure of selling as many copies as possible each copy run.

Future potential distributors include: Stack Magazines, Rough Trade, Nottingham Contemporary and Five Leaves Book Shop.

MEMBERSHIP

Rising provides a subscription service (membership) enabling consumers to join on a monthly basis of ÂŁ3, or a yearly fee of ÂŁ15. Due to the extended payment option, it is likely that a big portion of the consumers will chose to pay monthly as it is more convenient, and it gives them the option to cancel at any point. The monthly members will enter a monthly contract which they can leave at any point and use until the end of the month. On a yearly contract the consumer can cancel at any point however due to the original one-off fee they will have access to all the perks until the end of the year. The benefits of joining the membership have been outlined below.

FEATURES

BENEFITS

Print + digital version of Rising Issue

Actionable events aiding in personal fulfilment by helping the community

Entry to events

15% discount on online shop

Monthly digital and bi-annual print content sharing the work of local creatives -educating you about the current trending social issues

Merchandise to reflect personal values through the form of association with Rising and everything that it stands for

MERCHANDISE

To create this community through the brand, Rising will sell merchandise online alongside the publication, enabling the consumers to reflect their values through style identity, by buying into the brand. Merchandise will ensure that the consumers arenâ&#x20AC;&#x2122;t just purchasing the publication and then forgetting about it. Wearing a tshirt or using a sustainable tote bag will mean the Rising products are used often, therefore staying relevant to the everyday consumer (see visuals for example designs).

The platform will also act as a marketplace for artist selling cause driven artwork eg. Miss Gloria Designs celebrating women through illustrations.

CONSUMER SEGMENTATION B2B COLLABORATORS

SUPPLIERS In the first year, one of the distribution streams Rising will use is stocking at Ideas on Paper, located in Nottingham city centre, with the possibility of other suppliers in the future. As a business, Rising will look to be stocked with independent businesses, building relationships and establishing itself as a local business. Suppliers such as Five Leaves Bookshop, Rough Trade, Nottingham Contemporary, Stack etc, will be approached regarding stocking Rising Issue. Some benefits the businesses will receive by stocking Rising, is the reputation that comes with the business, being sustainable and social change driven.

Collaborations will be at the heart of Rising activities, with the possibility of collaborating on a sustainable t-shirt with Mimm store (see appendix 6.x). The benefit of using collaborations is that both businesses gain something out of it, for example in this case Mimm can be associated with a social change driven publication, receive advertising and the Rising gets exposure from Mimm attaining their customers. Some other businesses in the future will include Zero Waste Maker, Thinx, as well as individual local artists (see magazine copy for examples).

B2C To understand the type of consumers the Rising is targeting, the below profiles have identified the common characteristics the individuals share from demographics to psychographics. “Consumers can be differentiated in terms of their psychological makeup, which can underpin and explain the consumer behaviour patterns they display, their motives for doing certain things and making certain choices, and the way they process information about the world around them.” (Gunter, 2016) The use of psychographics in consumer profiling provides a much deeper exploration of understanding, therefore a more accurate targeting is applied in branding and

THE DOER

THE SILENT PROTESTER

THE FEARER

DEMOGRAPHICS

- 16 to 19-year-old - Male and Female - Living in UK - LGBTQI+ member - NRS Socio Economic group: DE – full time student/ unemployed

- 16 to 23-year-old - Male and Female - Living in UK -Sexual orientation: straight - NRS Socio Economic group: DE – full time student/ unemployed

- 16-18-year-old - Male and Female - Living in UK - LGBTQI+ member - NRS Socio Economic group: DE – full time student/ unemployed

PSYCHOGRAPHICS

- Speak about the causes that are important to them though social media and word of mouth - Keen to take part in their communities through events -Likes to express their feelings through a form of art -Can be opinionated

-Shares petitions online -Will buy from brands that have a positive social responsibility (eg. cruelty free, vegan or toxin free) but want it to be a care free process -Enjoys spending time with friends mostly at a bar or café but also the student accommodation and library (see appendix 6.xiii)

- Lacks confidence - Will occasionally go to events if their friends go - Not interested in politics

SWOT OBJECTIVES ANSOFF MATRIX MARKETING STRATEGY MATKETING MIX COMMUNICATION PL AN AIDA & DRIP ADVERTISING CAMPAIGNS TIMELINE

BRAND MANAGEMENT 52

The purpose of a marketing strategy is to clearly articulate the opportunities an organisation has chosen to address, by focusing on specific set of target markets (Dibb, et al, 2006). The following chapter will outline the brand management tactics to ensure exposure and success. The SOSTAC model (Smith, 2004) is used to clearly outline the process to achieve marketing objectives and grow as a business.

WHERE ARE WE NOW?

SWOT STRENGTHS STRENGTHS

WEAKNESSES WEAKNESSES

-Driven by positive change -Trend driven (see micro trends) -Multiple revenue streams - Omni channel -A socially aware community of consumers

-Requires investment to reach the intended audience -Not money driven -Challenge in financial possibilities

OPPORTUNITIES OPPORTUNITIES

THREATS THREATS

-Working with established businesses to reach greater audiences -Collaborations on products -Developing more platforms for conversations with the consumer

-The youth wonâ&#x20AC;&#x2122;t engage or relate with the brand -Lack of contributors for the publication -Lack of attendees to events -Lack of publication readership (online +print) -Lack of impact on the community

ANALYSIS Based on the SWOT analysis of Rising, there are some key strengths and opportunities which can be implemented throughout the first 3 years of the marketing strategy. One of the key USP of Rising is a drive for positive change which differentiates it from other businesses, however, there are some threats that need to be considered in order to successfully function. The issue of funding is one of the biggest weaknesses of Rising which will have to be approached in the Cash Flow planning considering various types of investment in the first 2 years. The financial challenges will also be approached with the opportunities the business faces including potential collaborations with local businesses, as well as developing various conversation platforms eg. Rising podcast.

WHERE DO WE WANT TO BE? OBJECTIVES OBJECTIVES YEAR 1 Build brand awareness through social media marketing and offline promotion Create a community of socially responsible individuals, reflected through website readership, social media followers and membership Sell 160 print copies in the year

YEAR 2

YEAR 3

Build brand awareness to increase community membership and print sales

Strong push for memberships and raising awareness of the perks of joining the Rising community

Introduce a further extension to Rising through events organised for the members of the community

Collaborate with an established charity through event hosting, advertising and campaign promotion

Create links with universities to attract a wider audience wanting to do positive social change

Sell 370 print copies in the year

Sell 230 print copies in the year

ANSOFF MATRIX MARKET MARKET PENETRATION: PENETRATION: The Rising Issue publication will be the initial product of Rising aiming to provide a platform for Gen Z to tell their stories on social causes. It will aim to establish itself as a critical publication suggesting an alternative view on societal issues in the independent publications market. The first 3 years post launch will focus on establishment and building brand awareness.

MARKET MARKET DEVELOPMENT: DEVELOPMENT: Exploring new markets will be done through new stockists. The Rising Issue will originally be stocked on the website, at events (eg. Notts Zine Fest) and in Ideas on Paper, however there is potential to stock with less conventional stockists. This can include galleries, music shops etc, therefore tapping into other markets.

PRODUCT DEVELOPMENT:

DIVERSIFICATION

Rising development will take place with the introduction of new activities. In second year, Rising will aim to launch a podcast with other potential communication platforms developing in the following years.

Future development for Rising can be done through the form of collaborations enabling the brand to tap into new markets without the full risk. This can be done through collaborations with socially responsible brands in the fashion, beauty and lifestyle market for example in beauty Lush, striving to go packing free or The Body Shop, a cruelty free brand.

HOW DO WE GET THERE? STRATEGY

YEAR 1 - ENGAGEMENT Year 1 of the strategy will be focused around building brand awareness and engagement to acquire B2C and B2B business. A key aim of all the activities and communications will focus around creating a community thatâ&#x20AC;&#x2122;s invested in the mission.The communication will show consumers and partners the advantages of working with Rising and the positive impact it can have on the community, encouraging them to get involved.

YEAR 2 - NEW COMMUNICATION Itâ&#x20AC;&#x2122;s essential for Rising to stay relevant and report on trending topics though various platforms to ensure engagement. Year 2 will focus on a macro environment evaluation identifying trending topics, and potentially introducing new platforms to communicate these issues. A potential podcast introduction would enable Rising to reach wider audiences and discuss various trending topics.

YEAR 3 - COLLABORATION The 3rd year of Rising will have a strong push on collaboration with local and more established businesses. Having established a loyal audience by this point, Rising will be able to offer the partners more with a substantial following online as well as a paid membership community. The collaboration can take place by hosting larger scale events together, including a feature in Rising Issue or a partnership in a joint exclusive publication.

MARKETING MIX 59% OF RESPONDENTS IN AN ONLINE SURVEY STATED THEY WOULD BUY A PRODUCT FROM A CAUSE DRIVEN BRAND (SEE APPENDIX 6.XIII).

PRODUCT -Online publication -Bi-annual print editions (May & November) focusing around specific issues eg. climate change, feminism, racism etc: 40 pages, printed on recycled paper to reflect the brand values of sustainability - see attached example publication showing the potenital of Rising Issue - The publication serves as a platform to share perspectives, facts and own experiences of social causes through the form of articles, photography and artwork. -Paid membership is a subscription to the magazine but it also enables consumers to attend events, contribute to charities with similar goals to Rising and receive perks. -Selling merchandise through online platform eg. tote bags, tshirts, local artists work

PRICE PRODUCT

PRICE

BENEFIT

Publication (digital)

Free, open for donations

Free, on the go, educational content

£10 full price, £7 discounted

A compilation of the digital and exclusive articles focusing around specific social causes

£3 monthly or £15 for the year

2 copies of Rising Issue, entry to hosted events + external events, discounts on merchandise (15%)

Tshirts- Fruit of the loom £2.50 per tshirt (printed) for 100 – sold at £15 Tote bags- 100 bought at £1.36 sold at £5 Collaborations/Partnerships: Dependant on stockist – margin varying between 10% - 50% (see appendix 6.x)

Buying into a community that share similar beliefs (e.g. climate change, gender inequality etc.). Merchandise will enable consumers to represent their beliefs through their style.

Publication (print)

Rising Membership

Merchandise

PLACE ONLINE ONLINE

OFFLINE OFFLINE

-Website: online magazine, online store -Social media: Facebook page, Instagram page

-Online – Rising website -Physical copies at events (e.g. launch event, zine fests etc.) -Stores – Ideas on Paper

PROMOTION OFFLINE OFFLINE

ONLINE ONLINE

-Rising website featuring articles from contributors -Print promotion across independent Nottingham stores including Broadway Cinema, Mimm, Ideas on Paper etc, building the community presence -Presence at zine fests to target the specific customers passionate about print magazines

-Social media including Facebook page and Instagram page @risingissue

EDITOR IN CHIEF/DIRECTOR

PEOPLE CONTRIBUTORS 23 and under youth, passionate about social change aware of current affairs, college and university interns – ambassadors to the brand and crucial to Risings offline reputation – importance reflected in magazine contributors page

PROCESS 1. WEBSITE READERSHIP ACCESSED THROUGH SOCIAL MEDIA LINKS 2. DATA CAPTURE FOR NEWSLETTER, MEMBERSHIP AND PRINT ISSUE DELIVERY 3. PUBLICATION PURCHASE (SINGLE COPY OR MEMBERSHIP WHICH INCLUDES 2 COPIES) 4. PUBLICATION POSTAGE TO CUSTOMER 5. ATTENDING RISING EVENT 6. MERCHANDISE PURCHASE (TOTE BAG, TSHIRT ETC)

Dominika Rekas – the face of the brand and the liaison for any business activity including organising events, attending zine fests, hiring interns etc.

COLLABORATORS/PARTNERS/ STOCKISTS Local businesses that work with Rising from partnering with hosting events to product collaboration (eg. collaboration with Mimm on a sustainable tshirt sold on Rising website – see appendix 6.x)

PHYSICAL EVIDENCE -Print copy of Rising Issue -Merchandise including tote bags, tshirt, stickers etc -Print promotion including flyers, posters etc.

PLANET Rising is passionate about sustainability specifically, as it is one of the causes weâ&#x20AC;&#x2122;re keen to work on. Our target demographic, Generation Z, want to live in a world thatâ&#x20AC;&#x2122;s safe and still here in 20 or 50 years. Rising considers the environment in every activity that it runs including printing the publication on recycled paper.

HOW EXACTLY DO WE GET THERE?

AIDA B2C ATTENTION:

INTEREST:

With a strong digital strategy, Rising will gain awareness amongst the consumers though striking and urgent content about social causes.

Create relatable and engaging content shared through website and social media. As well as urgent the content will be aesthetically pleasing to ensure engagement.

DESIRE:

ACTION:

The community aspect will be reflected in the communication, creating an ‘us against the world’ feeling.

Click through links to the website with newsletter/membership pop up prompting readers to join the community. The promotion of events will be made across these channels encouraging to get tickets/attend.

B2B ATTENTION:

INTEREST:

Rising is seen across the community by attending and hosting local events creating a positive reputation. Word of mouth is key to be able to collaborate with local businesses on events, sponsorships etc.

DESIRE:

The Rising mission of creating positive social change, as reflected in the branding and communications, entices brands to get involved and tap into a socially responsible loyal consumer base.

ACTION:

The omni channel communications creating brand recognisability will create the desire for businesses to be part of the Rising movement. Rising will send out the media kit to businesses wanting to work with us whether that’s through collaboration or advertising. This can be done to brands that are reacing to us on social media platforms creating that initial interest. The media kit will reflect any accomplishments, print circulation and online platform following to create the desire to work with us and the action point eg. organising a meeting, email enquiry or social media DM.

ADVERTISING One of the key revenue streams for publications is through advertising online and in print. Publications create media kits usually consisting of contact information, any achievements or awards, online and offline readership and social media following. To gain a greater understanding of media kits, Platform magazine have provided their charges as a point of reference (see appendix 6.v). Platform are small publication which mainly use advertising to keep the publication afloat. Editor in chief Eve Smallman stated that â&#x20AC;&#x153;Any money we make is fed back into Platformâ&#x20AC;?. Nonetheless, Platform magazine are an established publication and have a reputation of creating quality content. For The Rising Issue the advertising would have to startx minimal due to not having this established reputation. Rising will use a media kit to reach out to potential B2B clients and pitch the benefits of advertising through the platforms (see appendix 8 for media kit). Some key stressors are the benefit of a socially aware and responsible audience, community exposure and opportunity for long term partnerships.

PITCH

Dear [name], I am writing to you to introduce Rising to you. Rising an organisation with an online and print publication, hosting events and activities focused around creating positive change in our community. We believe that by raising awareness of the everyday issues we face; we can change the world for future generations and live in a safe and equal society. The Rising Issue is a platform for the youth to discuss social, environmental and political issues that are affecting them through the form of journalism and artwork. We are launching in May 2020 with our first biannual print publication featuring over 20 contributors already and weâ&#x20AC;&#x2122;d love to have you on board! We were wondering if you wanted to be featured in the publication through the form of an advertisement? We are currently offering a quarter of a page, half a page and a full-page space. If you have any more questions, would like to find out any more information or the advertisement prices feel free to drop me an email. Looking forward to hearing back from you. Kind regards, Rising

LIKELIHOOD OF PARTNERSHIP

CLIENT NTU

Ideas on Paper

Mimm

Zero Waste Maker

Braderie

DoughNotts

Effy

Broadway Cinema

Rough Trade

Birdsong London

Corner House

Thinx

Lush

Instagram - https://www.instagram.com/ risingissue Facebook - https://www.facebook.com/ risingissue

Between January and March, Rising will reach out to businesses in search of potential clients to feature in the Rising Issue print magazine. A selection of potential clients is listed in the table alongside a ranking of likelihood of gaining their business in the first year. Likelihood has been established based on the presence (or lack of) established relationships with the businesses. A template email has been drafted to represent the pitch to potential clients (top left).

Based on this likelihood of partnership, NTU and Ideas on Paper have been included in the finances and the print magazine as B2B clients (reflected in April & September 2020), with a half page feature and a full page to show the visual representation of the B2B relationship. The other businesses could be potential clients in year 2 and 3 with the likelihood of their business increasing with the success of Rising represented through social media followers and memberships.

COMMUNICATIONS CAMPAIGN:

Prelaunch: WE ARE THE RISING (Nov 2019-April 2020)

AIMS & OBJECTIVES:

-Build brand awareness and make the brand mission known to the general public -Build social media presence -Raise initial cashflow through Indiegogo

KPI’s:

-Gain 200 followers on Instagram -Gain 6 members -Raise initial cash to fund the marketing activities, printing and administrative costs in the first year

TONE OF VOICE:

Urgent, exciting, engaging, belonging

EXECUTION:

This period is the initial digital launch of Rising, giving the offline launch a greater opportunity of brand awareness. The execution will take place through social media sponsored content, targeting the doer and the silent protester profiles. The content will focus around social issues eg. climate change, political disruption, approaching it in a fun, graphical and engaging way, encouraging the youth to join the community. There will also be link throughs to the crowdfunding campaign making donations an easy process.

COST:

Free posting on social media November - December 2019 £30 instagram p/m £20 facebook p/m Print marketing- £50 - Mixam

INDIEGOGO PERKS £5 – Preview of the first issue £10 – Receive a digital copy of Rising Issue £15 –Receive a digital copy of Rising Issue + branded tote bag £20 - Receive a Rising tote bag + tshirt £30 – Receive a print copy of Rising Issue £40 – Receive a print copy of Rising Issue + tote bag £50 - Receive a print and digital copy of Rising Issue, tote bag & tshirt

CAMPAIGN:

Prelaunch - CONTRIBUTORS NEEDED (Nov 2019-December 2020)

AIMS & OBJECTIVES:

-Reach out to young creatives to contribute to the publication by writing articles, sending any photography and artwork that is cause driven -Establish relationships with universities and colleges

KPI’s:

-Monitored by the amount of work that is received – between 5 and 10 projects per issue (see magazine for example)

TONE OF VOICE:

Urgent, attention grabbing, visually engaging

EXECUTION:

A poster shared with universities, colleges, creative social media groups and Rising’s platforms, calling for aspiring artists and journalists to contribute to the magazine. This is through the form of journalism, artwork and photography focused around a specific issue that fits in with Rising mission.

COST:

Free

CAMPAIGN:

LAUNCH EVENT (June 2020) Details: 12th June 2020 at 7pm-12pm

AIMS & OBJECTIVES:

-Introduce the local community creatives to Rising -Gain buzz around local media (e.g. Left Lion) -Collect consumer data (email/address) for newsletter + membership

KPI’s:

-100 attendees -18 people to sign up for membership – 15 monthly, 3 one off yearly -Sell 50 print copies

TONE OF VOICE:

Interactive, fun, exciting, revolutionary, rememberable

EXECUTION:

The event will be the introduction of Rising to the local community, promoted through handpicked platforms, targeting the right individuals. We’d expect to see print fanatics such as Alex Smith (Ideas on Paper), Matt Gill (Raw Print) and Dizzy Ink. The poster will be sent to individuals and posted in creatives groups eg. Nottingham Creatives FB page as well as blogger pages such as East Midlands Bloggers Network (to encourage live sharing).

A key purpose of the event is to capture consumer data, which will be used to inform about the Rising activities, what we stand for and the businesses/charities we support through the membership feature. Due to the GDPR law passing, there are specific regulations around collecting data at events (Events Force, 2018). The information displayed will have to clearly inform the consumers what the information will be used for and give the option of opting out at any point.

COST: Evidence of costs can be found in appendix 8.iv -Room hire - £60 p/d -DJ hire – £35p/h = 4 x =£140 -Catering - free – partnership with Veggies Catering -Print promotion- £100 - Mixam -Instagram sponsored posts - £30 p/m -Facebook sponsored posts – £20 p/m -Promotion on Nottingham Writers Studio website and newsletter - free -Tote bag production – 100 = £136 (Cotton Shapers, 2019) -Stickers – 200 x = £34 (Sticker App, 2019)

CAMPAIGN:

EMAIL MARKETING (January-December 2020)

AIMS & OBJECTIVES:

-Encourage existing members, to engage with Rising by attending events. -Encourage one-off payees to click through to the website and continue with membership for the following year either switching to monthly payments or paying a one-off fee

KPI’s:

-Tracked through mail insights including click throughs to the website and email opens -The success of the newsletter will be reflected through payments made for the membership

TONE OF VOICE:

Friendly, attention grabbing, informative

EXECUTION:

The email marketing will be reflected through a Mail Chimp newsletter keeping the members up to date with online articles and offline activity eg. events and promotion of the print issues. November and December will have a stronger push with paid membership promotion.

COST:

MailChip Account - free Marketing intern – free

CAMPAIGN:

#RISINGISSUE (June -December 2020)

AIMS & OBJECTIVES:

-Spread consumer generated content by providing a sharable template -Start conversations online with Gen Z about social causes -Reflect Rising mission online

KPI’s:

-Tracked through insights including likes, comments, shares

TONE OF VOICE:

Urgent, reflective, informative, attention grabbing

EXECUTION:

A template will be made for the sharable content, accessible through the website and instagram which the consumers can directly share to Instagram stories, Snapchat or just save the file and share as an individual post. The hashtag aims to spread awareness about the trending rising issues that affect the youth. The template will prompt the user to start conversations about what’s important to youth today, but also show a deeper version of themselves online, reflecting beliefs and passions. Throughout the online channels, Rising will share filled in templates to encourage the youth to think about a variety of topics such as politics, climate change etc, which will especially target the silent protester and the fearer.

COST:

Marketing intern – free Graphic design intern - free -Instagram sponsored posts - £30 p/m -Facebook sponsored posts – £20 p/m

CAMPAIGN:

CLIMATE CHANGE PROTEST (July 2020) Details: Market Square Saturday 18th July 11am-2pm

AIMS & OBJECTIVES:

-Build brand awareness -Show support to the climate change cause through educational information

KPIâ&#x20AC;&#x2122;s:

-Have 50 attendees monitored by regular checks -Monitored through the success of the hashtag and the amount of posts, stories and tags used during the day -Gain 5 monthly members

TONE OF VOICE:

Urgent, angry, final

EXECUTION:

The climate change protest will include the hashtag Rising Issue used across the protest in the DIY posters, made alongside facts about the climate taken from organisations websites e.g. Greenpeace. The protest will take place in Nottingham Market square where most local protests take place. The main point of the protest is to reflect who Rising is as a brand and what we stand for.

COST:

free

CAMPAIGN:

#RISINGGENDERINEQUALITIES PANEL - (September 2020)

AIMS & OBJECTIVES:

-Bring the community together to hear from Boshemia magazine founder, Eileen Elizabeth, and the Rising Issue founder speak about gender inequalities

KPI’s:

-Expecting 50+ people to attend including Rising members + non members -Success reflected through social media following – wanting to gain between 1030 followers from the event

TONE OF VOICE:

Inviting, warm, conversational, informative

EXECUTION:

A collaborated event with Boshemia magazine bringing together the two audiences. The event will be £5 on the door for non members and free for Rising subscribers. The main point of the event is to share discussions with young people and reflect the brand mission.

COST:

Nottingham Writer’s Studio hire – 4 hrs =£40 -Instagram sponsored posts - £30 p/m -Facebook sponsored posts – £20 p/m -Discounted issues (£7)

EXTERNAL EVENTS Along with organising Rising events and campaigns, the business will attend external events to gain awareness. One of these would be selling at zine fests across the UK including York, Lincoln, Sheffield and London. This is a great opportunity for Rising to approach the demographic thatâ&#x20AC;&#x2122;s interested in publications and the culture that comes with it. In terms of the cost it varies depending on each fest, however getting a stand at the York Fest costs ÂŁ10. This cost could come out of the contingency fund and the travel costs are included in the fixed costs in P+L.

Rising will also take advantage of The Big House, located in Nottingham, helping SME businesses through the form of funding and networking events. ‘Creative’s Club’ is a regular networking event discussing various topics around business and society.

WHO DOES WHAT AND WHEN? CAMPAIGN CAMPAIGN TIMELINE TIMELINE The implementation timeline below visually outlines each campaign in the first year, in the pre-launch and post-launch segments. Post-launch events have been created as a continuation of the buzz created at the launch event, in order to keep the excitement about the brand rather than die down gradually.

prelaunch

NOV 2019

DEC 2019

APR 2020

CONTRIBUTORS NEEDED

MAY 2020

JUN2020

LAUNCH EVENT

#WEARETHERISING

#RISINGISSUE EMAIL MARKETING 72

post launch

JUL 2020

SEP 2020

DEC 2020

#RISINGGENDERINEQUALITIES

CLIMATE CHANGE PROTEST

ZINE FESTS

6. FINANCE

SALES FORECAST B2C

JAN

Print Sales

0 0 0 0 30 40 50 55 50 40 60 70

Print Income (£)

Memberships

0 1 3 6 10 25 30 32 36 30 35 45

Churn

0 0 0 0 3 2 3 4 2 5 1 2

Membership Income (£)

0 3 9 18 42 111 90 96 108 90 108 159

Events income (£)

0 0 0 0 0 0 0 0 200 0 0 0

Merchandise (£)

0 0 0 0 0 0 100 125 55 15 80 30

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

0 300 280 500 550 500 400 600 700

TOTAL B2C INCOME: £5269

PRINT SALES

EVENTS

MEMBERSHIPS

The print sales have been established based on the success of the communication plan along with the primary research conducted, specifically the interview with Alex Smith, (see appendix 6.iv). Secondary research helped to support the data, specifically ‘So you want to publish a magazine?’ (Lewis, 2016) with an example sales forecast projection for a start-up magazine (see appendix 8.i). Due to the publication being very small scale to begin with distributing on a local level targeting a digitally savvy demographic, the numbers have been reduced majorly accounting these factors.

In the first year there are 2 events organised by Rising post launch, one in July and one is September. In July the event will l not be ticketed as the aim is to build brand awareness amongst the youth. In September the event is an open panel discussion which will be ticketed £5 on the door or free for the Rising Members. The predicted turnout number will be 50 people with 10 expected to be members and the rest to pay the fee on the door.

The numbers estimated for the membership is based on an educated guess due to the communication campaigns and their success rate; as well market research information (see chapter 3 - digital publications). See appendix 8.i for in depth membership payments overview.

B2B

JAN

FEB

MAR

APR

MAY

JUN

JUL

MERCHANDISE The merchandise profit is an estimate based on the activities Rising will have those months (see appendix 8.ii).

AUG

SEP

OCT

NOV

DEC

Advertising (print) £

0 0 0 70 0 0 0 0 100 0 0 0

Advertising (website) £

0 0 0 0 0 0 0 0 100 50 20 40

TOTAL B2B INCOME: £380 B2B income was estimated using the insights from Eve Smallman, Platform Magazine editor in chief (see appendix 6.v)

STARTUP COSTS ITEM

COST

RATIONALE

Bank Account

free

After comparing various startup business bank accounts, HSBC offered the most benefits including the best tariff promise, 18 month fee-free period and finance support for launch (HSBC, 2019).

Business Registration

£12, (Gov, 2019)

Rising will operate as a limited company after weighing up the different business model types (see chapter 3). A limited company will give the business protection and appeal more to investors and partners.

Insurance & Business Liability

£400

To protect the business of any financial costs and loses, Rising will pay a £400 yearly fee to cover the business in case of any legal costs. The cost is an estimate from Trusted Choice (2018) suggesting estimates for business based on their cover.

Website Hosting

£2.26 p/m

Adobe Cloud

£59 p/m, £708 p/a (Adobe, 2019)

Accountant fees

£80 p/m, £960 p/a

Bluehost hosting was chosen due to all the benefits that it provides as well as being recommended by WordPress for its security (WordPress, Unknown). The process is a 1-click installation, includes a free domain name and a business email. Due to Rising being a publication, Adobe cloud will be essential to creating the print copies on InDesign, as well as the Illustrator and Photoshop apps for creative visuals for marketing. Every registered business has admin tasks including paying taxes and dealing with invoices. An accountant will be hired on a monthly basis to deal with these tasks. Startup businesses are expected to pay as low as £60 per month therefore an £80 fee has been dedicated (Unbiased, 2018).

Wages

Year 1 - £0 Year 2&3 - £8856 p/h (3 day part time min wage - £7.70p/h)

Rising will run solely by the director which will work for free in the first year and then take a part time minimum wage (Gov, 2019) - 3 days p/w, £7.7p/h due to the increase of workload.

Trademark cost

Year 2 - One off fee of £170 (Gov, 2019)

A registered trade mark gives Rising the protection of the logo and any other content that it produces (British Library, Unknown) . Having the trade mark will copyright the business and prevent other business claiming the name.

PRIORITY 1

PROFIT + LOSS YEAR 1

YEAR 2

YEAR 3

£5,649

£14,637

£23,537

Outgoings

£6,049.74

£16,207

£16,526.5

Profit

- £400.74

- £1,570

£7,010.50

Revenue (without investment)

The profit and loss account have been estimated based on the sales forecast (page 75), start-up costs (page 76) and the marketing budget (page 79) – see appendix 8.i for full P&L overview. The estimated income is based on an educated guess due to Rising being a local publication with the purpose to initiate change rather than gain big profit margins. Nonetheless, a steady profit increase is reflected in the 3 years. For evidence of outgoing costs (overheads) see appendix 8. Although Rising Issue will have a regular charge for the printing (dependant on the amount of copies sold), the cost has been outlined in overheads rather than loss due to the printing been done in one-off sums in May and November, rather than printing to order. The frequency

SENSITIVIT Y CHECK YEAR 1 Total Revenue Total Outgoing

YEAR 2

and amount of issues purchased of the print issue will be re approached every 6 months to establish if enough issues are purchased. Any unsold issues will be stored at Ideas on Paper until sold. Furthermore, in outgoing costs, as reflected in the first year the founder will be unpaid which will change to a part time minimum wage in the second and third year. This factor creates a minus £1,570 in profit however due to the cash injection Rising will continue to make money staying in positives. This is also reflected in the third year where Rising breaks even from profits, not having to rely on cash injections. With a 500.5% increase from year 2 to year 3, Rising is likely to succeed past the 3 year initial period.

To prepare for any miscalculations, a sensitivity analysis has been estimated with a 20% + and – of the total profit from the P&L account.

FORECASTED FIGURES

SENSITIVITY +20%

SENSITIVITY -20%

£5649

£6,778.80

£4,519.20

£6,049.74

£7,259.64

£4,839.84

FORECASTED FIGURES

SENSITIVITY +20%

SENSITIVITY -20%

Total Revenue

£14,637

£17,564.40

£11,709.6

Total Outgoing

£16,207

£19,448.40

£12,965.60

YEAR 3

FORECASTED FIGURES

SENSITIVITY +20%

SENSITIVITY -20%

Total Revenue

£23,537

£28,244.40

£18,829.60

Total Outgoing

£16,526.5

£19,831.8

£13,221.20

CASH FLOW YEAR 1

JAN

Net Profit £

-730.52 -365.52 -309.52 -230.52 -526.02 -397.52

371.48

2,000

Incoming Cash £

Opening Balance £ 0

FEB

MAR

APR

2,000

1,269.48 903.96 594.44

MAY

JUN

JUL

2,187.92 1,661.9 1,264.38

Closing Balance £ 1,269.48 903.96 594.44 2,187.92 1661.9

1,264.38

PERSONAL INVESTMENT:

YEAR 1

AUG

£2000 in January 2020

Net Profit £

452.48 704.48

Incoming Cash £

SEP

20,000

892.9

OCT 236.48 0

DEC

NOV -151.52 0

610.48 0

CROWD FUNDING:

Opening Balance £ 892.9

In March 2020 Rising will hold an Indiegogo campaign, lasting 40 days (recommended Indiegogo campaign duration) to raise initial funds for the business. This would mean the funds would be accessible mid April (2 week delay after campaign).

Closing Balance £ 440.42 19,735.94 19,499.46 19,347.94 18,737.46

INVESTMENT: DBACE Made for Good prize fund is a potential area for investment through the form of a competition (2019). The Deutsche Bank Awards for Creative Entrepreneurs is a £50,000 prize fund for entrepreneurs driving positive social impact which fits in with the Rising mission. This competition would be really beneficial for Rising as although there is only one winner (securing £50k), there are also 30 businesses that receive business support receiving up to £20K. Although the likelihood of receiving the fund isn’t secure as it’s a competition, the business plan assumes securing the £20K being in the top 30 contenders. Due to delays, it is however likely that the funds won’t be accessible for 5 moths post application (September).

440.42

19,735.94 19,499.46 19, 347.94

MARKETING BUDGET The marketing budget has been calculated with all the activities involved in the first-year communication plan (see appendix 8.iv for full overview and proof of costs). A contingency fund of £600 has been added to the budget for any unexpected costs as well as external and third-party activities. The activities have also been given a priority rating in the event of smaller profit margins, meaning some activities will have to be dropped (eg. sponsored Instagram posts).

COMMUNICATION

COST

PRIORITY

Facebook page

free

HIGH

Facebook sponsored content

£20 budget p/m (£240 p/a)

LOW

Instagram account

free

HIGH

Instagram sponsored content

£30 p/m (£360 p/a)

LOW

Website development

Building - free Hosting - £2.26 p/m

HIGH

Business email

Free (included in website hosting price)

LOW

Email campaign

free

MID

Launch event room hire

£40

HIGH

Launch event DJ

£140

LOW

Print promotion – A5 flyers

£50

LOW

Press Release

free

HIGH

Journalist Intern

free

HIGH

Marketing Intern

free

HIGH

Zine Fest Exhibiting

Varying by each fair – York Zine Fest stall space = £10 (use contingency fund)

HIGH

Travel

£25 p/m, £300 p/a

MID

Tote Bags

£136

MID

Stickers

£34

MID

Miscellaneous

£50 p/m, £600 p/a

HIGH

KPIâ&#x20AC;&#x2122;S RISK ASSESSMENT OBJECTIVE REVIEW CONCLUSION

REVIEW

HOW DO WE MONITOR PERFORMANCE?

KEY PERFORMANCE INDICATORS

BRAND AWARENESS -Word of mouth- attending networking events and discussing Rising -Reflected through social media followers (insights show what cities the followers come from) -When B2B clients approach us for business there will be some level of awareness in place reflecting success in promotion

BRAND LOYALTY -Measured through membership subscriptions -Reflected through the print magazine purchases -Merchandise sales - showing the customer is willing to promote the product themselves

BRAND ENGAGEMENT -Social media â&#x20AC;&#x201C; measured through likes, comments and shares -Reflected through the number of attendees at events -Website analytics to measure bounce rate

SOCIAL JUSTICE -Laws being passed due to specific niche social causes taken on by Rising (e.g. the recent passing of the law banning up-skirting) -Regular survey/feedback amongst the Rising Members to monitor their level of activity towards social change (e.g. In the past 12 months have you bought anything from a cause driven brand? In the past 12 months have you attended any protests/marches?)

RISK ASSESSMENT RISK

THREAT

LIKELIHOOD

MEDIUM

Print issue sales are a key revenue stream bringing in a 78.9% profit margin (price of sale ÂŁ10 minus printing cost) therefore low sales would not only make up for the cost of printing but result in a further dept (minus) by the end of the first year.

Promotion is a key tool including online and offline to ensure Rising is always relevant and visible to the target audience. Offline activities such as the zine fests are key selling points especially in the first 2 years ensuring selective targeting.

Lack of membership subscriptions

HIGH

MEDIUM

With the launch of the brand there will be little awareness amongst the consumers, hence they might be less likely to sign up to a paid service of an unknown publisher. Competitors are offering on-the-go stories every day which is free, hence consumers might not see the value of joining which would inevitable affect the profit and loss account.

Have a clear direction on what the membership offers. This will have to be communicated through the communication strategy which will show the benefits of joining the community.

Membership Cancellation

HIGH

The membership fee is the most impactful revenue stream as it will bring in cash every month. Cancellation will affect the monthly income and marketing budget as more promotion will have to be used to entice consumers to sign up.

The perfect balance of keeping in touch with members (without bothering them) and also making sure they donâ&#x20AC;&#x2122;t forget about you. The key purpose of direct marketing will be to remind the members why they signed up in the first place, to sell the brand and what it stands for including the vision in mission and the drive for social change.

There are a lot of activities attached to Rising which would all be dealt by the director. This could result in being overworked and the content that is being put out not being to a sufficient standard.

One of the ways to deal with this is by Rising hiring interns throughout the year to help out with the magazine editing, copywriting, marketing and event organising.

Lack of sales of print issues

Monthly payers:

HIGH One off payers:

LOW

Too much workload for the director to handle on their own - including publication editing, digital marketing, admin and event organisation

HIGH

IMPACT

INTERNAL

PREVENTION

EXTERNAL

RISK

THREAT

LIKELIHOOD

MEDIUM

Ideas on Paper is the Nottingham hub for print publications attracting individuals passionate about books and magazines. Selling in the shop would mean the right audiences would be purchasing the product bringing in a constant revenue stream.

A relationship with Alex Smith has already been established and the question of stocking at IOP has been asked (see appendix 6.iv). The next stage would be liasing further by showing mockups of magazine (or final copy) which would then be reviewed.

Duplication

MEDIUM

HIGH

Cause driven brands are likely to emerge however it’s unlikely they will function in exactly the same way.

Rising will have to ensure that it’s relevant to the youth, supporting trending issues as well as functioning with various activities (e.g. magazine, events, podcast etc.) to stay ahead of the game and stand out amongst competitors.

Unexpected costs

HIGH

MEDIUM

The profit and loss account has been calculated including all comms campaigns, however it’s likely that opportunities will come up for promotion which will require cash. Any unexpected costs will affect the cashflow of the business in the first year.

A contingency fund of £300 has been added to the first-year marketing budget in case of any unexpected costs.

Not raising funds

HIGH

MEDIUM

Lack of initial funds (including the Indiegogo campaign & DBACE fund) will result in being in minus for the first year in cash flow.

Due to Rising being a popular cause, support from consumers should flourish, especially if the Indiegogo perks appear to the public as appealing alongside an effective online & offline campaign. If the funds aren’t secured a different stream will have to be considered eg. bank loan.

Lack of need for activism and social change

MEDIUM

LOW

Not securing the distribution channels (eg. first year selling in Ideas on Paper)

IMPACT

While researching the market (see chapter 3), it is unlikely that the zeitgeist will change in the near future to a positive one without the need for social change. With Rising having a broad enough scope of societal issues, there will always be need for change.

PREVENTION

Rising wouldn’t have much control over this although as stated, the world will always need positive change (or at least in the foreseeable future).

FUTURE GROWTH Looking past the 3 years, there are further growth opportunities for Rising to take advantage of; with bigger profit margins. One of the key focuses for future growth is to establish contacts with distributors. Having a DIY distribution model in the first 3 years, Rising will look to pass over the distribution to external businesses, freeing up time to work on the editorial and events activities. Another potential growth would be taking on new activities such as introducing a podcast or hosting a festival or even expanding globally to new markets.

OBJECTIVE REVIEW OBJECTIVE

REVIEW

To analyse the Stage 1 main insights in an analytical manor and identify the opportunity within the gap in the market.

Stage 1 research study has identified 5 insights which were the initial opportunity explorations. The big insights have been grouped and explored in further depth through the themes of social responsibility and confidence.

To study the opportunities through an in-depth examination of the external environment through trends and marketing models.

Marketing models such as PESTLE were used to identify major events in the UK as well as a problem and gap exploration.

To understand the social enterprise market and the opportunity in social driven businesses

In market exploration, publications as well as social enterprise business models were explored by identifying the market share and business opportunities.

To profile the socially responsible generation of youth in consumer segmentation (to understand their level of social responsibility) as well as the silent activist group which believes in causes however doesnâ&#x20AC;&#x2122;t act on this due to various reasons.

Stage 1 initially identified consumer types which was supported further in this study with a follow up online survey. These consumers were profiled as the fearer, the silent protester and the does which was based on typical demographics and psychographics in Gen Z.

To pitch an engaging communication strategy with social change at the heart of each campaign, with close consideration of the type of consumer that it targets

The communication strategy was very focused by consistently establishing the aims & objectives, KPIâ&#x20AC;&#x2122;s, tone of voice, execution and costs. This meant that the execution was focused and questioned in every step if it was benefiting the brand mission.

To consider the risks and feasibility of the business plan and suggest effective factors to overcome these.

An in depth internal and external analysis identified potential risk factors by risk, threat, likelihood, impact and prevention.

CONCLUSION Rising is a social cause driven business focused on making change rather than having a big turnover. The business plan has outlined a potential business idea that is trend driven, authentic and transparent about its activities. The chosen communication plan and finances reflect a business model that will create averaging profits and break even in year 3 (without cash injection). With the initial investment though funds (DBACE), Rising can establish itself in the market while staying afloat until bigger profit margins occur in the third year.