The challenges to earning revenue from businesses were varied and significant for the 15 news organizations that joined the second cohort of the Sponsorship Lab from Google News Initiative (GNI) and the Institute for Nonprofit News (INN). Reaching out within a rural community where businesses are limited. Getting staff to understand the difference between transactional selling and solutions-based selling. Lacking experience to confidently price ads and event sponsorships. Simply not knowing where to start.
Thanks to a seven-month GNI-INN Lab with the business strategy experts at Blue Engine Collaborative, however, these 15 media outlets — including six nonprofit INN members — dramatically grew their revenue from business sources last year. Their year over year numbers for the same period, before and after the program, jumped by 32% for advertising, 250% for sponsorship (underwriting or sponsored content) and 1485% for events.
