"Old media" outlets are finally being held accountable by their customers to demonstrate a return on their advertising dollar.
I love having clients compare returns:)
Its just surprising that its taken this long before it became noticeable.
Personally I think we'll see a lot of offline publications go to the wall over the next twenty years, including some big names.
It's all about the business model evolving. Who's more local than the local newspaper? Local sports, local politics, local events, local reviews: real nitty gritty down and local stuff.
Build the 'newspaper' website. Put up your masthead. Add community message boards. Online classifieds. Obits. Tie in a business directory and yellow pages feed. Encourage community contribution by responsible citizens that get modest compensation or some other incentive. Give local government admins each a page to update about community events. Ditto sports leagues, clubs, etc. Populate those pages with ad feeds. Provide for photo uploads of major news events by Average Joe.
Change the model but don't. Local news and events is still about having community presence and connections, people willing to talk to the local reporter. Ditch the printing presses. Ditch the rolls of newsprint and delivery trucks, shrink the size of the building that houses 'the paper'. A 'paper' that once ran on 25-250 employees now runs on 5-25 full-time and an assortment of work at home part-timers.
Nobody does local like the local news rag. People still benefit and see some benefit.
They will evole.
Or, maybe, just go out of business.
In reference to local newspapers, I find them to be an absolute waste of valuable resources. I read somewhere a few years ago that it took 700 large trees to produce the Sunday edition of the Los Angeles Times.
The Yellow Pages and/or any printed phonebooks for that matter are also a waste of valuable resources. A few weeks ago I came home to find two large phonebooks (about 3 inches thick) in front of my door. I didn't ask for them and I don't use them. They went right to the trash bin. Guess what, it looks like 90% of the community where I live also had the same response.
95% of my clients have discontinued their Yellow Page advertising. At $18,000 USD for an 1/8th page ad (yearly subscription), it just wasn't worth it for most as they are gaining more of their business through online resources.
As the digital age continues to evolve, expect to see many of the paper based advertising outlets to either rethink their strategies or go out of business as stated above.
P.S. A little OT, how many times have you read the local paper to find that your hands are filthy afterwards? I wonder if there are any health hazards associated with the ink that is absorbed by your hands while handling the newspaper. ;)
|I wonder if there are any health hazards associated with the ink that is absorbed by your hands while handling the newspaper. |
Nothing reported except for very rare forms of contact dermatitis. :)
I am offering to local businesses here pay-for-performance advertising on my website. My biggest concern is I donot have control over what they sell that I deserve commission on. Does anyone have any ideas how I can monitor this process. Right now I monitor through my website stats how many times a visitor has visited the webpage I have designated for the particular business.
Is there any other means to have better control over this process.
The yellow page industry is fighting to adapt / change.
The key is "sale force". Have feet on the street is critical. They can sell a small ad to a pizza joint off main street easily. When trained they will begin selling the online version also.
It will be many years (or many many years) before the mom and pop biz really bring ad buys DIRECTLY online (vs. buying thru their current offline yellow page sales guy)
I beleive online local sales will follow a similar path to the PPC market.
First it will be ridiculed (when goto first launched)
Second it will be generally accepted (market now)
Third it will be assumed to be obvious (2006)
The feet on the street is an issue now, as the masses are still resisting but very quickly, the entire market will shift. I predict 2006/2007 after which point only the minority will not advertise online.
PS Can someone help me with the name of the philospher who had the 3 rules I lifted the above from. I cannot remember who it was.
I just think the models have to change. The offline media can't expect to keep the prices for advertising at the obscene levels that they've been at over the last ten years.
High spend+hard to quantify return=crap advertising model. Now people don't need them anymore and they're crying...
Some offline publications just need to fire some sales staff, swallow their pride and begin hacking away at that massive chip on their shoulder...