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Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
Newspaper Transition Strategy 2009
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Newspaper Transition Strategy 2009

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    • 1. Newspaper Transition & Web Revenue Strategy 2009 Mel Taylor Media Online Revenue Strategy for Local Media www.MelTaylorMedia.com 267-625-5313 A Pop Web Group Company. [email_address] 12/3/08
    • 2. Newspaper Transition & Web Revenue Strategy 2009 This report is a ‘best practices’ summary of observations, experiences and facts that were collected over the past 18 months. We believe it’s a realistic roadmap for local Newspaper media to follow, in 2009. It’s primarily focused on business, sales structure, and web revenue models. It touches lightly on content. Much of the information contained within, applies to local Television & Radio Broadcasters as well. Contact us if you are interested in the Radio or Television version of this report.
    • 3. Mel Taylor Media background
      • newspaper
      • television
      • radio
      • internet
      • sales management
      • content, production
      • talent, reporter
      • sales training
    • 4. Mel Taylor Media recent client list
    • 5. challenge for newspapers stabilize & grow print business simultaneously grow share of web dollars current economy will accelerate this challenge, and force a quicker solution
    • 6. forces killing current business model
      • news as commodity
      • ad networks, falling cpm’s, glut of inventory
      • specialty sites
      • aggregators
      • those successfully leveraging automation & outsourcing.
      • competitors not dependent on rising hard costs
      • outdated worker agreements. ex: uaw
      • internal conflicts & bottlenecks
      • economy accelerating advertisers move to web
    • 7. core business
              • not newspapers
              • not journalism
      • it’s advertising
    • 8. core business local assets
              • news/info gathering & dissemination
              • sales force & support staff
              • relationships & brand trust
              • printing press & distribution
      notice the omission of ‘newspaper ‘or ‘website’ ?
    • 9. first step
    • 10. questions we ask local media managers your advertisers are moving online. are you offering web to all of them?
    • 11. what % of your traditional clients use online advertising ? do your reps know? questions we ask local media managers
    • 12. what % of your traditional clients want to use online advertising, but don’t know how ? questions we ask local media managers
    • 13. BIG question we ask what % of your traditional clients are regularly offered web? typical answer: not sure, but probably well less than 25%
    • 14. newspapers capture large share of local online revenue, yet they still leave a lot of money on the table that’s alot of upside for newspapers to gain… and for pure-plays/competitors to go after how pure-plays are gaining LOCAL share
    • 15. HUGE issue
        • traditional reps & managers
        • fear cannibalization
        • afraid to offer web
        • trading dollars for dimes
        • protect the way it’s always been
        • potential loss of job
    • 16. HUGE issue
        • overcoming fear of cannibalization
        • if newspaper doesn’t offer web to clients…
        • someone else will.
        • clients will buy web, either from newspaper,
        • or it’s competitors: TV & pure-plays.
    • 17. how newspapers are fixing that issue
          • overhaul compensation
          • update job descriptions
          • consistent web training for ALL
          • especially top & mid-management *
      * how can top & middle-managers “manage”…what they don’t fully understand ?
    • 18. overhaul sales rep compensation
          • compensation must become primarily, commission based.
          • bonus & penalty when selling web. no longer ok for sales rep to hit print number, and miss web number. In this case, rep loses print bonus.
          • threat of sales staffers quitting greatly reduced in this environment, due to lack of available jobs. radio reps are strong candidates as replacement hires; they’re used to cold calling, direct sales & creative cross-platform packaging.
    • 19. how newspapers are fixing that issue
      • culture transition via job description modification
      • no longer a newspaper company
      • now a local news & info company
      • aggregate, distribute & sell… multi-platform
    • 20. how newspapers are fixing that issue management transition > legacy managers , no matter how successful they’ve been, may not be best suited to build the web business > creation of ‘vp advertising’ or ‘chief revenue officer’ understands and is responsible for all revenue opportunities.
    • 21. how newspapers are fixing that issue management transition > consistent training for top & middle managers how can they manage what they don’t fully understand?
    • 22. newspaper sales structure 2009
      • hybrid approach for near term
      • web specialists target new biz, categories, web-only buyers
      • web specialists assist & train traditional reps
      • mandatory web sales for print reps (bonus & penalties)
      • convert all reps to ‘super-sellers’ over time
    • 23.
      • goal: integration
      • all reps become super sellers
      • 1 point of contact for client
      • able to offer many solutions
      • reps sell total reach of platforms
      newspaper sales structure 2009
    • 24. right-sizing
      • who to let go ?
      • those that debate change.. purge internal poison
      • valued in past, but less valuable for future
      • editorial without solid connection to revenue
      • web staff without solid connection to revenue
    • 25. mandatory re-think all content/editorial staff must now think revenue too
    • 26. newspapers getting smarter about:
      • less reliance on middlemen: ad networks
      • not all traffic is valuable. bigger not always better
      • developing content networks; syndication
      • specialty sites , separate url’s
      • inventory dilution & falling cpm’s via limiting supply
      • aggregator strategy: do what you do best, point to the rest.
      • reverse publishing opportunities
      • online & print working side by side
    • 27. newspapers targeting new revenue categories
      • broadcast & cable dollars online info-mercials, video micro-sites, video in banner, pre-roll, etc
      • seo/sem offerings
      • behavioral, geo targeting
      • yahoo partnership
      • go direct to brands w/custom, cross-platform ideas
      • syndication of content
      • creation of premium, vertical ad networks
      • self-serve ad platforms for smaller clients
    • 28. newspapers targeting broadcast & cable’s weaknesses
      • reliance on transactional , agency business
      • high cost of news gathering video & production
      • small newsrooms
      • limited publishing & layout experience
      • small online sales & editorial staff
      • little or no sales staff training
      • over-air content not translating to web
    • 29. newspaper tactics to grow local, online revenue share
      • online only sellers & multi-platform super sellers
      • consistent training of traditional sales force
      • specialized web training of top & mid management
      • change job description & commission structures
      • target print, broadcast, & interactive budgets
      • creation of local ad networks
      sales
    • 30. how newspapers can own local, online news/info space
      • low cost of video news gathering & production
      • leverage new tech: video cell phones, wireless, etc.
      • leverage large newsrooms
      • reporters becoming MOJO’s : indie mobile journalists
      • leverage publishing & layout experience
      • 24/7 web-first newsroom
      • local blogger network & aggregator strategy
      editorial
    • 31. notable newspaper initiatives specialty sites determine online content & revenue hole in market, and fill it with a separately branded web site. leverage power of legacy assets: content development, IT & design staff, marketing & sales staff, advertiser relationships, etc. www.Metromix.com www.LVBrideandGroom.com www.ToastedRav.com www.PHrequency.com
    • 32. newspaper action plan 2009 summary
      • modify job description & comp plans
      • regular training for all staff, especially top mgrs.
      • automate & outsource
      • syndicate & aggregate
      • find profitable local holes, & fill
      • consider revenue first, then content
      • reverse publish
    • 33. advertiser spend 2008 where should we place more sales effort? TNS Media Intelligence Overall Online S.C. Johnson
        • DOWN 10 %
        • UP 111 %
      Wells Fargo
        • DOWN 10 %
        • UP 157 %
      Verizon
        • UP 8 %
        • UP 70 %
    • 34. TNS Media Intelligence advertiser spend 2008 where should we place more sales effort? Overall Online Ford
        • DOWN 2 %
        • UP 65 %
      GM
        • DOWN 9%
        • UP 79 %
      Chrysler
        • DOWN 8%
        • UP 41%
    • 35.  
    • 36. reverse value add
    • 37. web advertising 101 seminars for local business another tactic to drive web revenue
    • 38. why a seminar ?
      • local advertisers
      • want to buy web, but…
          • confused
          • embarrassed by lack of knowledge
          • don’t totally trust sales rep
          • think Google is enough
          • think their own site is enough
          • never been offered web
    • 39.
      • new web revenue on books
      • increase online ad mix
      • target advertisers still on web sidelines
      • slow the migration to competition
      • traditional rep sales training
      benefits of seminar for local media
    • 40.  
    • 41.  
    • 42.  
    • 43.  
    • 44.  
    • 45.  
    • 46.  
    • 47.  
    • 48.
      • newspaper brings in ‘outside expert’
      • expert provides objective info
      • non-sales approach
      • fun, easy to understand
      how does it work ?
    • 49.
      • expert makes the case for web advertising
      • provides best practices & basic info
      • branding vs. message awareness vs. search
      • discuss creative, pricing, targeting
      • local case studies
      seminar topics that lead to business .
    • 50. case studies
      • & Cablevision
      • $146,000 new quarterly business
      • 26 new contracts
      • e
      • $ 144,000 new quarterly business
      • 41 new contracts
    • 51. case studies
      • $140,000 new quarterly business
      • 26 new contracts
      • RESIDUAL EFFECT of training & seminar:
      • web sales up 300%
      • Jan: $30k per month …June: $109k per month
      • Jan: 44 web clients….June: 67 web clients
    • 52. WARNING
      • clients will buy web.
      • from you….
      • or the competition
    • 53. reaching customers online Sample slides from seminar Presented by Mel Taylor
    • 54. Your customers are spending more time online
    • 55. Ad spend: out of whack
    • 56. the economy
    • 57. while market is soft
      • build demand for offerings
      • lock long-term discount rates
      • steal show while others vanish
    • 58. Bill segment
    • 59. Radio 38 years TV 13 years Internet 5 years reaching critical mass 50 million users Phone 74 years
    • 60. Ignored Amazon.com
    • 61. Ignored MP3’s and I-tunes
    • 62.
      • search
      • branding
      • message awareness
      web marketing
    • 63.
      • today’s yellow pages
      • reach those on a mission
      search
    • 64. is search enough?
    • 65. would you only use yellow pages? to advertise your business
    • 66. How do you stand out on this page?
    • 67. How do you stand out ?
    • 68. branding
      • stand out from crowd
      • familiarity
      • stability
      • logo w/ slogan
    • 69.
      • educational
      • newspaper, broadcast, outdoor
      • passive consumer
      • un-aware of offer
          • > New location > Sale > New item
      message awareness
    • 70. click-through rate what it does and does not measure.
    • 71. measures immediate response not overall response click-through rate
    • 72.
      • brand lift
      • brand preference
      • brand recognition
      • visited site/store, later
      OVERALL response
    • 73. creative
        • kiss. 7 words or less
        • clear in graphics
        • single message
        • borrow from billboards
    • 74.  
    • 75. Unique User – visitor to site Page Views – viewed web page. learn these EX: readership, viewership, listenership EX: quarter hours, rating points
    • 76. CPM – “Cost Per Thousand” learn these If CPM is $10 My AD seen 100,000 times Total cost: $1,000.
    • 77. http://tribads.chicagotribune.com/onlineadvertising/ http://essentials.baltimoresun.com/media_kit/design-dev/ rich media http://www.tihr.com/mediakit/
    • 78. what sites should i use?
      • quality of content
      • advertiser friendly
      • number of ad units
    • 79. what sites should i use?
    • 80. www.wxtu.com many radio stations still not taking web seriously
      • dumping ground
      • cluttered
      • no content
      • no value, even if free
      • station looks bad
    • 81.
      • GOOD !
      • IAB.net compliant
      • clean environment
      • limited Ad units
      • above fold
      • good content
    • 82. http://www.tmccreatives.com/ newspaper online
    • 83. http://essentials.baltimoresun.com/micro_clients/lifebridge/
      • online info-mercial
      • ad-vertorial
      • ez & cheap to produce
      • your biz seen by more
      • better search results
      • never a wasted play
      video micro-site on newspaper site
    • 84. Source: NetRatings, September 2008 2 3 Million Top Local Websites
    • 85. Seminar 90 mins
      • Client Check-in & Lunch / Networking
      • Mel Taylor (50 mins)
      • Web sales manager; local info ( 10 mins)
      • Local manager offers discounted packages
      • 15 minute break to close biz
      • Pick door prize winners
    • 86. Here’s overview of Seminar/Training program
      • On site visit & training …. 5 weeks in advance
      • Expert Web sales training; how to overcome common objections
      • Overhaul of sales presentation & packages
      • Set goals, get input from local staff
      • Co-development of all materials, strategy
      • Return day before event; training/prep
      • Up to 3 sessions a day, over 2 days
      • optional sessions: retail, agency, real estate, etc
      • In the field calls, day after
    • 87. call or email for more info. we specialize in building web revenue. guaranteed. Mel Taylor Media Online Revenue Strategy for Local Media www.MelTaylorMedia.com 267-625-5313 A Pop Web Group Company. [email_address] 12/3/08

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