I wonder if other industries
are as driven by whims of iron as our own. Hunches quickly become contagious.
One man’s stroke of luck turns into an epidemic. Two years ago it was
tabloiditis. Now it seems that nobody ever said a word against free dailies.
Today’s big thing is quickly
forgotten tomorrow when a new infection takes over.
When we all leapt into the new
media space, mistakenly convinced that the Internet was ours for the taking, we
immediately realized our people were so steeped in their traditions that few
wanted to adopt the new world alongside our own.
The result? Virtually every
media business established a new parallel division to handle new media
developments. We largely blamed our old media people for their inflexibility,
which, of course, was directly proportionate to our overestimation of the
potential of our strategy.
Zillions of
pounds/euros/dollars/yen later, our confidence in the Internet is recovering in
line with profitability, and suddenly integration is the fad du jour.
Everywhere you look, geeks and
hacks are being encouraged to commune. Subscription is a multichannel offer.
Workflow is a distributed network.
Every advertiser is being sold
a few page impressions and an SMS response mechanism. And why not? We’re an
integrated multimedia business!
Sorry state
There’s no doubt that
newspapers that do not adopt multimedia strategies will be in a sorry state
within the next few years.
Too many of the services that
newspapers traditionally offered are now morphing into digital genres. What is
more, concepts such as communities of interest, social inclusion, and the
oxymoronic citizen journalism, are presenting new opportunities that newspapers
are uniquely placed to exploit.
The argument for integrated
content services is irrefutable. Media consumers expect their content to be
available across a range of channels, formats, time and place.
But the case for integrated
advertising sales is far more complex.
The fact that we can offer
print and digital solutions does not imply that advertisers are seeking to buy
them jointly.
Advertisers seek different
solutions from their different marketing channels. TV and outdoor advertising
build brands. Newspapers confirm detail, and convert purchasing desire into
action. The Internet is ideal for creating interactive and transactive
relationships and for providing routes to solutions based on detailed
definition.
Works differently
Digital works differently,
with search being the biggest value of revenue, and referrals being the fastest
growing.
Even as newspapers expand the
range of media across which they operate, they must also be aware that the
roster of rivals that will compete within these new ranges are very different.
And this needs to be reflected
not only in the structure of the sales organization, but also in the way that ad
reps sell.
Detailed analysis of effective
newspaper ad sales reveals that advertisers’ needs are more reflected by size,
and spending patterns, than by category.
A very large bank, for
example, has similar needs to an automobile manufacturer. The sales approach
should reflect the potential and loyalty of the advertiser.
But in the online environment,
things are poles apart. A bank’s use of the Internet will be very different from
a car manufacturer, reflected primarily in the use of its own Web site and how
it attracts people to it. What the bank expects from us will necessarily also
differ greatly.
The bank and carmaker will
also have distinct communications strategies. There is little point in trying to
persuade an advertiser to spend less in a competitor’s newspaper and more in
your own digital services.
Must change
The bottom line is this: The
traditional approach of selling our medium comparatively against our competitors
has to be replaced by the ability to present each of our print and digital
offerings in a manner that not only complement each other, but also mesh with
the advertiser’s need to exploit both print and digital media.
The challenge is exacerbated
for clients that use media buying agencies, where different people are tasked
with buying different media channels.
Inevitably, the solution is
not an easy one, and it will vary from one newspaper to another and from one
market to another.
The key is to understand each
advertiser’s needs and to adapt to each advertiser’s methods and options.
Integration may be the whim of
the moment, but its universal application in advertising sales has yet to be
proven.
Jim
Chisholm is joint principal of iMedia, the joint venture consulting service with
Ifra. He can be reached at
Jim.Chisholm@futureofthenewspaper.com.