{"id":217364,"date":"2023-05-10T16:05:48","date_gmt":"2023-05-10T20:05:48","guid":{"rendered":"https:\/\/www.lionpublishers.com\/?p=217364"},"modified":"2023-09-26T19:58:54","modified_gmt":"2023-09-26T23:58:54","slug":"three-things-lions-love-about-their-sustainability-audits","status":"publish","type":"post","link":"https:\/\/www.lionpublishers.com\/three-things-lions-love-about-their-sustainability-audits\/","title":{"rendered":"Three things LIONs love about their Sustainability Audits"},"content":{"rendered":"\n

Last year, 100 LION members participated in the LION-GNI Sustainability Audits and Funding program to assess their news businesses, prioritize steps toward stability and growth and leverage $6,000 in funding to act on strategic recommendations. We\u2019re thrilled to be able to extend that opportunity to another 75 LIONs this year. Applications<\/a> are due for Cycle 1 by May 30 and for Cycle 2 by August 28. Applications will re-open in 2024.<\/p>\n\n\n\n

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Still on the fence about participating? Here\u2019s what members say they\u2019ve gotten out of the program, and why you should apply.<\/p>\n\n\n\n

1. The ability to step back and see the big picture<\/strong>.<\/h2>\n\n\n\n

Time and again we\u2019ve heard Audit participants express some variation of the following: \u201cI knew (or thought I knew) what I needed to do, but I wasn\u2019t sure where to begin.\u201d<\/p>\n\n\n\n

That\u2019s not surprising. LION members are driven, entrepreneurial and are experts on their communities and their news businesses. But the possibilities for revenue streams, product development, audience growth strategies, staffing and all the other aspects of running an independent news business are countless, and deciding which to pursue can feel overwhelming. <\/p>\n\n\n\n

The Sustainability Audit report offers a digestible, actionable set of recommendations tailored to the unique circumstances you\u2019re facing, written by experts who\u2019ve been there. Those recommendations help establish a clear roadmap for each publisher, which eases the decision-making burden and makes it easier to start acting on operational and financial goals.<\/p>\n\n\n\n

Here\u2019s what a few participants had to say:<\/p>\n\n\n\n

\u201cIt’s so easy to get marooned on the pressing issue of the day and participating in the LION audit is like a map that redirects you to building a foundationally strong local news organization.\u201d<\/p>Joel Gross, Austin Monitor<\/strong><\/cite><\/blockquote><\/figure>\n\n\n\n

\u201cAfter eight years spent trapped on a hamster wheel of work for limited rewards, I knew things had to change, but how? This LION audit helped answer that. The probing questionnaire forced me to evaluate my failures, frustrations, successes, and goals. My auditor caused me to reexamine my priorities and methods. She made me realize that urgent and important are not always the same. She listened to and advised me and provided me with links to resources I will use to develop my business. Breaking free from my preconceived notions and entrenched business practices will take time, but this audit started that process. Instead of being on a hamster wheel, I\u2019m now on a path to physical and fiscal sustainability, and it feels great!\u201d<\/p>Joy Purcell, Now Habersham<\/strong><\/cite><\/blockquote><\/figure>\n\n\n\n

\u201cThis sustainability audit experience exceeded my expectations. Our analyst had reviewed my responses to the audit questionnaire thoroughly before we met, which made our subsequent conversation engaging and productive. The insights she shared in her recommendations were excellent. She offered many fresh ideas for actions we could take that would be a good fit for our organization. She also reinforced a few strategies we had contemplated but not yet pursued, and now I feel more confident acting on them.\u201d<\/p>Lila LaHood, San Francisco Public Press<\/strong><\/cite><\/blockquote><\/figure>\n\n\n\n

2. A clear set of next steps<\/strong>.<\/h2>\n\n\n\n

Okay, so you\u2019ve set priorities for your news business. But acting on them is a whole other challenge. Which CRM or email provider should I use? What do I need to include in an employee handbook? How should I structure my media kit? How can I get the most out of my analytics set up? How do I get started with financial reporting and budgeting?<\/p>\n\n\n\n

We\u2019ve got you! <\/p>\n\n\n\n

The Audit report doesn\u2019t just identify areas on which to act, it also offers structured steps and specific resources to help you evaluate your options, decide what\u2019s right for your business and implement your plans.<\/p>\n\n\n\n

Here\u2019s an example recommendation, edited to remove identifying information:<\/p>\n\n\n\n

To Do<\/th><\/tr><\/thead>
Track and regularly review audience metrics.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

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Why<\/th><\/tr><\/thead>
Audience numbers and demographics tell a story, but not one with enough detail to meaningfully inform your strategy and efforts. The newsletter size is rather small compared to the site\u2019s traffic. So let’s capture a detailed picture of who your audience is and what they\u2019re doing, followed up with structured audience research to learn more about what people need\/want. That\u2019s how you will be able to understand your audience and plan with confidence, leveraging all that information into a stronger membership program and more data-informed pitches for ads and sponsorships.

By regularly measuring your audience\u2019s interactions with you, you\u2019ll be able to: