Can the Newspapers Be Saved?
August 12, 2008 – 12:29 pmI recently read that The LA Times has cut a section of their newspaper that is over 100 years old. The section, you guessed it, Real Estate!
Why? Because the print classifieds model is broken. If things continue as they are, we will see other sections being axed as well.
John Keister (cool name, it makes me laugh), the COO of Marchex, wrote a post called “Can Newspapers be Saved?” In it he offers some suggestions on what newspapers should do to recharge and begin to rebuild their advertiser and revenue base:
1. Defend your advertiser relationships!
2. Build an advertising package for your advertiser that includes targeted Google and Yahoo! traffic.
3. Make the phone ring!
4. Keep it simple!
5. Invest in training your sales team!
6. Incentivize your sales team to sell online!
Greg Sterling of Screenwerk also adds:
If newspapers were smart they would do a range of things:
- Agressively embrace (and monetize) mobile (See AP/Verve). Get out in front of this medium
- Mimic the YP industry and sell search marketing, websites, video, etc.
- Leverage any and all relevant ad networks (Centro, Yahoo, quadrantOne, etc.) to get more money from their sites
- Participate in Google Print
- Add community to their flagship sites (via Topix, CityVoter); improve usability and site search
- Build other types of sites: verticals, mom sites, unconventional hybrids, neighborhood level sites. If they can’t build ‘em in house, partner with those (e.g., Outside.in) who can
- Get more deeply into local shopping (via local inventory data providers)
- Syndicate their content and ads widely. Adopt the “agency” model, vis-a-vis advertisers, that YP has.
So the question is, Can the Newspapers be Saved?
4 Responses to “Can the Newspapers Be Saved?”
The ONLY reason I continue to use our local print media is that a 2-column ad online allows my website hyperlink to NOT be broken and inoperable….if it was not for the online issue(which is not real time), I would run an institutional ad with the website for less than half the cost.
The bigger LOOSER to online ads is the Yellow Pages….I have not had a Yellow Page ad in 3 years and it has not only saved me $$$, it has saved me loads of “stupid” telephone calls….I stopped when our local book would not put the area code in front of my 7-digit local #. If someone is in town looking for rental property and uses an “out of the area cel phone” by not having the area code WITH my local phone #, the the book is USELESS!!!
Know your customers’ needs!!!
By W.Gibson CPM on Aug 12, 2008
W. Gibson. What is your cost per lead for the print advertising? How does it relate to your web spend?
Shouldn’t the only reason you use a marketing venue is because it works? Not because it allows for a website hyperlink.
By Larry Realty on Aug 13, 2008
The online version of the print newspaper works for attracting residents to my website….the print version rarely works for RENTERS; however, would-be clients often look at print media when researching what rents to charge for their rental property and I have gotten client/property owners from the print version.
I will not be doing the large print media rental ads next rental season and may do a generic, institutional ad only with my website link.
By W.Gibson CPM on Aug 17, 2008
We\\\’ve stopped newpaper rental ads because print ads inherently are not attracting the demographic we rent to. In fact in general rental housing tends to slant to both a younger and a older crowd.
Newspapers must move to an online model and to effective local Internet advertising. Without this, they will fail because people don\\\’t want paper delivered to their home.
Also, we\\\’ve seen a perverse relationship between poorly qualified renters from print ads giving impetus to our decision to cancel them almost two years ago.
We provide a service - www.occupancy100.com for apartment owners and managers to address the need for strong local Internet advertising for their properties. This product was a direct by product to our own issues with the service.
Blake Ratcliff
The Apartment Guy
www.occupancy100.com
By Blake Ratcliff on Sep 3, 2008