Here at Smibs, we are always on the look out for innovative new business practices, but what you don’t know is that we are also on the look out for generically named magazines spelled out entirely in capital letters. Enter: GOOD magazine, founded by Ben Goldhirsh. The surname may sound familiar because Ben is the son of Bernie Goldhirsh, the creator of the highly influential (and also generically named) Inc. magazine. Ben’s GOOD magazine focuses on socially conscious issues, sustainable living and politics.
What makes GOOD innovative or different? Well for starters, Ben gives away all the proceeds from the subscription-based magazine to a charitable organization of your choice. Since the 2006 launch, GOOD has yet to break even, let alone post a profit. The company has done a lot for charities and non-profits and to date has already given away over $850 000 to these institutions. GOOD’s website is also host to a rich variety of web-based content including a regular video newscast, an impressive community site and a decent library of current events based mini-documentaries.
GOOD has been criticized as being ‘too idealistic’ in their business model. I think they are quite savvy. Giving away their subscription base to charity could be considered a marketing strategy. They receive priceless public relations coverage from the media and the consumer feels like they have financially contributed to a worthy cause. This personifies GOOD magazine as selfless contributor to charities.  In reality, subscriptions account for very little income for most magazines where as most income comes from advertising dollars. So to recap, GOOD gains legitimacy as a philanthropist from both the media and the consumer while actually contributing a very small percentage of total income to charities. That being said, I feel that GOOD magazine should be recognized for what it is (i.e.: a very entertaining magazine with great web content) and not for what it wants to be (i.e.: Robin Hood).
Â
(Editors Note: Ben Goldhirsh was recently interviewed on CBC’s ‘The Hour’. Â Check out the interview here)
Tags: GOOD magazine, Smibs Inc.
I wouldn’t go so far to call it a “marketing ploy”. There is no doubt that GOOD is using its philanthropic image to help boost sales, but it does actually help people. I don’t see it as a scam, I see it as a win/win. They boost sales and charities get funding. I wish more businesses would start to realize that helping others can help themselves.