Wired explores some wild business offshoots

Call me a geek (no, really), but I get a kick out of marketing surveys. I enjoy taking them, in large part to get inside the thought process of ideas banging around other media companies.

One of the questions on the Wired surveyCase in point is a recent survey I took from Wired magazine that explored the openness of its subscribers to different business ideas and rewards programs, such as Wired-branded retail products and stores, Wired restaurants or hotels, and even reader-loyalty clubs with benefits such as the “ability to offer feedback on content prior to publication.”

Wired is a magazine I have long respected for its innovative design, thought-provoking journalism and ability to stay ahead of trends. Its won tons of awards, yet hasn’t been immune to the falling ad revenue that has hit most print publications.

So I guess I should be impressed the company isn’t resting on its laurels and is testing how far its subscribers might flex in embracing new initiatives. But more than a few ideas struck me as being odd, even desperate, extensions of the Wired brand. For example, using a 5-point scale from “very interested” to “not interested at all,” how would you rank the idea of:

• “A Wired restaurant” (Gulp. I have visions of a bad Hard Rock Cafe, with computer artifacts like TRS-80s and Commodore 64s adorning the walls.).
• “A Wired credit card”
• “A Wired hotel” 
• “A Wired e-commerce online store with products chosen by the Wired team”
• “A Wired ‘brick and mortar’ store with products chosen by the Wired team”
• “Wired branded products developed by the Wired team (e.g., Wired headphones)”
• “A Wired video game”

Yikes. To be fair, the list included more traditional options such as email newsletters with exclusive content, digital versions for e-readers, a Wired TV show (I thought they already tried that), and Wired-produced events or conferences. Still.

Another portion of the survey sought feedback on the concept of a Wired Premium Membership Club that could range from free to $100 per year. Among the potential benefits of a Premium Membership were:

• “Early access to content in the magazine via emails and newsletter”, discounts at Wired events and “participate in online chats, webinars and live panel discussions with editors and prominent innovators.” Good ideas.
• “Have the opportunity to get a ‘sneak peak” (sic) at new products (e.g., electronics, games, online services) and test them for companies”. Again, sounds good.
• “Have the opportunity to preview and rate potential cover designs for the next month of Wired”. Could be dodgy, but the idea is within bounds of reason. It’s just a different version of focus groups.
• “Have ability to offer feedback on content prior to publication”. That squishy wording is too far into the danger zone for me. What kind of content? All content or just stuff like general features as opposed to some of its investigative pieces? It's one thing to crowdsource stories during the reporting process but another thing entirely to have generalists critiquing final drafts of sensitive stories. Without clear expectations for both readers and staff, proposals like that could open huge holes in the journalistic integrity that built the brand in the first place

I think benefits for premium customers are going to be more commonplace in the future, and for the right reasons. But as The Washington Post found out with its ill-conceived plan to in effect sell lobbyists access to its reporters and editors, there are right ways and wrong ways to rethink your business model. And, seriously, who believes a Wired-branded restaurant would do bang-up business? Even the geeks at the core of Wired’s readership wouldn’t be caught dead in a place like that.

Bottom line: Unless you feel like your brand no longer has any value, it’s dangerous to forget the traditional ideals and core mission that made you different -- and trusted -- in the first place.