The Demise of the Newspaper

The Demise of the Newspaper

I bought my local newspaper on a recent Monday and was saddened by how tiny it has become.

About 8 years ago, I was able to get custom circulation reports for the two local daily newspapers from my connections at the Radio Advertising Bureau.  I watched as the number of readers dropped and the advertising rates climbed to make up for the loss of revenue.

The numbers for the morning paper showed that between 2009 and 2014, circulation had dropped 34% while ads rates climbed 18% in just 5 years.  The morning paper has being delivered to only 25% of the households by 2014.

The numbers for the afternoon paper were worse.  In those same 5 years, their circulation dropped 40% while ad prices climbed over 18%. The afternoon paper was being delivered to just 8% of the households by 2014.

The reason all this sadden me is that my parents were big fans of the paper.  I was a paperboy as a kid, delivering my route after school.

Local journalism had it’s home in print.  Sure, we had broadcast media too with TV stations staffed with reporters and some radio stations had a decent news department also, but the newspapers, they were the ones that had the time and space to print the in-depth stories beyond headlines.

The reason the afternoon paper stopped publishing was revenue which was related to circulation.  My numbers show they had less than 13,000 subscribers in 2014 and even with the higher ad rates, they couldn’t sell enough to keep the paper alive.  I’m not sure how the morning paper stays alive these days.  I know the number of readers have continued to drop since 2014.  Those numbers are no longer available for me to research but it’s obvious by the size of the paper.   August 29th the paper had a total of 16 pages, divided into two sections. The first section had 4 advertisers, plus 2 pages of classified ads. The other section had zero regular ads, just a paid legal notice.

Why does advertising matter?  According to Media Landscapes, 80% of the revenue comes from ad sales, not subscriptions.  I paid $1.50 for my 16 page newspaper last month and even thought that is outrageous, it’s not enough to sustain them.

If your business was one of those that used to rely on print ads, you’ve likely switched to something else.  Digital ads or something online has been a favorite experiment for many.  And while I have used digital and bought because of online ads, unless you know what you’re doing, you can get lost.  Also the rules are always changing in the online world as they evolve.  I’ll save my thoughts on digital for another day.

I will however put a plug in for another old time media that is still going strong despite the repeated predictions of its demise.  I’m referring to radio. National numbers say 92% of the population tunes in to a radio station every week.  That’s a far cry from those 8% or 25% numbers I shared a few moments ago referring to newspapers.

My team at WOWO or myself can give you details on what’s been working for the businesses that advertise on WOWO  and create similar success for you too.  Just contact me, Scott@WOWO.com.

 

 

What Are You Doing Differently?

I’m just going to toss out a few items and you can fact check them if you want because I’m not going to hyperlink the sources, there’s too many and I’m sort of busy these days.

I want you to answer a question… that question is what are you doing differently?

If you are using the same media mix to advertise that you were using in 2013, you need to re-evaluate. Some of the media platforms you’ve been using have lost viewers/readers/listeners.  Other media platforms that were just getting started back then have become worthy of consideration.

Think about that pocket computer known as your phone.  Every 18 months the technology capabilities of our computers doubles. The phone you got for Christmas, 2014 is old, broken, out of date, or you’ve already replaced it.DeathtoStock_SlowDown2

As I was writing this piece last week, I was using 3 screens.  My laptop, my phone and I was watching America’s Got Talent on the flat screen in our family room.

A few days ago I was watching a TV show on Amazon Prime, streamed from my laptop to another TV via my Chromecast.

Every day I hop in my car and listen to at least 4 different radio stations.  Besides listening as I drive, I sometimes hear a radio station when I stop to pick up my breakfast and I also sometime listen to the streaming of my favorite stations by plugging earbuds into my laptop as I have my afternoon coffee.

I don’t remember the last time I bought the local newspaper, or any newspaper for that matter.  I have read stories from the papers, but it’s because I get a link on Twitter or Facebook that captures my attention and I click and read.

Those are some of the media habits I live every week in the summer of 2016.  Some I’ve been doing for years, others for just months.

What about you?  What is different about your media habits compared to a few years ago?

Your customers have changed some of their media habits over the years too.  My question for you is have you changed your media mix to take advantage of the changes that are going on all around us?

What are you doing differently?  If you want help figuring this out so your business can make money, contact me so we can talk.

 

 

Radio Advertising versus Digital

Over the years I have continued to see the predictions that traditional media is in decline and “everyone” is moving their money to the internet.

Not so fast, my friend.

One at a time.

Is Digital media (the internet) the place to invest all of your marketing money?

No, but…

There are certain things you need to have online to establish credibility. Like a website for starters.  One that is built with responsive design.  Responsive design means no matter what kind of screen I am using, the rendering of your website will adjust automatically. From my big desktop monitor to my little smartphone, I can read and navigate your website.

There are plenty of other digital things you can do and should do, but I doubt that the digital marketing efforts should replace all of your other marketing efforts.

But is traditional media and marketing still relevant? ScloHobook banner

Some have been in decline for decades, others will never disappear, and many are readjusting.

FM and AM Radio stations are still being listened to by over 90% of the population every week.  Some stations have really big audiences like WOWO Radio in Fort Wayne, Indiana, where I work.  Others have smaller niche audiences that are very loyal.  The ESPN Sports talk radio stations I also represent are examples.

Television is continuing to go through challenges as the viewership is being splintered by more and more shows, networks, and the ability to watch our favorites on our time schedules instead of only when the network decides to air them.

Newspapers have had a serious hit the past couple of decades with the total number of papers sold dropping every year as they attempt to make up the losses with online readers. My Sunday paper (when I decide to buy my own copy), is about the only edition that has much advertising support and most of those are inserts.

But even worse than the daily newspapers, our once beloved phone book has become a relic of a past generation.  On my radio station I hear national ads from YP.  YP stands for Yellow Pages. They have been trying to reinvent themselves as an internet marketing company.

One advertising medium that I’ve noticed that won’t go away is billboards.  The kind we see as we are driving down the highway.  If that is one of your marketing channels, just be sure you understand the limitations and use them wisely.

Back to the title of this piece. There really shouldn’t be a debate over radio versus digital marketing.  There are ways they can go hand in hand and we use them in combination to enhance your marketing message.  If you were left handed would you cut off your right hand? That’s the mindset of some who think you need to stop doing one form of marketing and only do something else.  Even my good friends who work exclusively in digital media and understand marketing agree that is not a wise move.

Here’s the deal.  Let’s talk.  Not just about buying a radio advertising campaign. Let’s have an honest to goodness talk about your business and all your marketing efforts.  Let’s review everything you are doing and the consistency of your message.  Also the perception of your business with current customers and non-customers.  We’ll dig in and see how you stack up against your competition.  And instead of talking about the value of a Facebook ad versus a radio ad, I’ll help you get your core message together and then we can figure out the best  marketing options for your business.

It’s the Money, Honey…

It’s the Money, Honey…

From the 2010 ScLoHo archives with a couple of updates for this year, 2013.
30 years ago, I was a rock and roll radio disc-jockey.

I worked on the air on the top music station in town playing everything from the Doors to John Fogerty, Black Sabbath, and even some Cat Stevens and the Jacksons. WMEE was the #1 Top 40 music station in Fort Wayne.

After a few more stops, I moved over to the advertising side of radio in Detroit. I had learned the business side of the entertainment industry and the truth about radio, tv, newspapers, magazines, etc.

Today, I am back in the radio advertising business and social media, and a few other projects too.  I am now with one of WMEE’s sister stations WOWO.

The vast majority are supported by advertising. And advertising money is spent to get and keep customers and clients by the businesses that run the ads.

If the advertising doesn’t produce a Return On the Investment (dollars spent on advertising), then a couple things happen.

First off, the business may stop advertising. The business may close if they cannot afford to stay open due to lack of customers.

Then the advertising medium (radio, tv, newspapers, magazines, etc.) loses money because they have lost that particular advertiser. And they advertise to fund their operation and pay the people they have on staff. Including those rock and roll disc-jockeys.

If a radio station cannot generate enough money through advertising, it is in danger of changing its format. If a TV program doesn’t generate enough money through advertising, it is canceled.

If a newspaper or magazine doesn’t generate enough money through advertising, it slows down or stops printing.

US News & World Report was a magazine that I used to subscribe to in my 20’s and 30’s. Not anymore. And they are one of a multitude of print publications that are no longer going to be available.

Is the web the answer? Is social media the answer?
I say maybe and no.

Maybe, if the internet can generate money. The same goes for the social media platforms.
No, if you are looking for a quick fix. Despite the tremendous growth in technology via smartphones and the like, despite the growth of Facebook, Twitter, LinkedIn, YouTube, (and the list goes on and on)…

Unless there is money being made it won’t work.

Someone has to be willing to buy something and someone has to be willing to sell something of value.

And the marketer’s job is never done because of the continuing changes.

So, got an idea? Great! Now figure out how to sell it. Need some help? Contact me @ScLoHo on Twitter or with an email to Scott@ScLoHo.net

Rock on….