Wednesday, 10 December 2008

The financial case for blogging

Yesterday we examined the business case for blogging. The other set of benefits of blogging are financial; not in the sense of earning money by blogging (although that is possible) but the benefits of blogging over other forms of communicating with the same stakeholders.

A decent blog should be getting an audience of at least 250 readers a day and often hit 500.

We've made a number of assumptions here (and this is largely meant to be thought provoking).
  • a blog takes an hour a day to write
  • this chief executive is paid £100,000 per annum
  • our consultancy fees are included
  • a redesign is necessary
  • the blog is hosted externally
Based on this, a blog costs a maximum of £2000 per month, or 27 pence per reader.

  • If you had a daily newspaper column in a high circulation national newspaper, you would have a larger audience at a cheaper price.
  • If you were on the Today programme each day, blogging wouldn't be worth it
  • If you addressed a conference of 500 people, blogging would be more cost effective
  • If you sent an email newsletter each day, blogging would reach more people
  • If you brought billboard advertising, radio advertising or a TV spot, blogging would still be cheaper
  • If you brought keyword advertising on search engines, blogging would still be cheaper
Some people have alternative access to a significant audience every day at a low price. If you don't, blog.

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