Imagine a magazine with 100% influence on purchase decisions. If the magazine recommends buying a certain product, every single reader will buy it. In this case, the magazine could charge a huge amount for advertisements.

Of course, that’s not realistic, but illustrates an often overlooked point: influence improves conversion rates. And higher conversion rates mean you can charge more for your ads. Influence also improves the impact of brand-building ads, again meaning higher rates.

The influence a magazine has over its readers is very difficult to measure, which is probably why it’s overlooked. Determining how to increase influence is an urgent matter for editors and publishers who need to turn around declining ad revenues.

To give one example of how to build influence, UK-based graphic design magazine Grafik has introduced an awards ceremony. The intention is to position itself as a credible leader of good taste in design, and to become the place for reputable design brands to be seen.

Maybe 2010 will be the year when publishers really seek to increase their influence over readers: establishing and reinforcing expert credibility will be key.