Circulation Problems Show Misguided Thinking of the Industry
Is anyone surprised or shocked by the recent disclosure of circulation misstatement at Hollinger's Sun-Times or the Tribune's Newsday and Hoy publications?
If you've been in the industry for any reasonable amount of time (say five years or more) you would quickly realize that circulation is king. No matter what area of publishing you work in sooner or later the weight of circulation is felt. But, probably in no greater place than advertising sales.
This article is not about assigning blame, there's plenty to go around. But I find it interesting that advertisers and publishers alike are standing with their hands over their mouths, awed by the current developments. Give me a break. This has been going on since before my time.
Advertisers say they're interested in reaching customers at deeper levels, getting higher ROI, being fully integrated, etc., but everyone in the industry knows that a dropping circulation is an advertising death warrant. In this environment, few publishers have the guts to say, "forget forcing high circulations we're going to focus on building a quality, stable readership." It's an environment ripe for the unscrupulous and nigh impossible for those trying to do the right thing but pressured for greater results. So how do we fix it?
In the days ahead there will be many interesting ideas to be sure. Some will be new and some will be rehashed from the previous circulation snafu. But ultimately I believe it's the simple that will get results.
As a child if I lied, got away with it or got off easy I found very little aversion to lying or even getting caught again. But when I lied, got caught and received significant punishment I was left with an indelible mark as to the importance of honesty. Ultimately, it didn't matter if I saw honesty as a vice or virtue. What mattered was the incentive to recognize its importance. I fail to see much difference in its application today. Cheaters and liars should be punished.
Publishers need to set up internal policies and controls. They need to appropriately convey them to their employees and they need to practice it at the highest levels (A double standard ultimately pans out to a single standard - whatever the boss is doing).
Second, the industry (newspaper and magazine publishers) need to set up a system for looking into and punishing circulation fraud on a consistent, swift and vigorous basis. This system should be well understood and communicated to industry members.
The newspaper and magazine publishing industries must become media leaders again. They must innovate and drive the industry not settle for being led about by advertisers or other media forms. They must make tough decisions, set high standards and be accountable. Herein they will begin to regain the profitability and recognition that some believe only cheating will get them.
-PA-
What Makes a Good Print Ad?
There are lots of people out there who claim to be experts in creating print ads. But over the years some of the best I've seen are the one's you will probably never hear about. They didn't work for large ad agencies or fancy themselves as professional writers. Most were entrepreneurs who happened upon a product or idea, and since funds were scarce, were forced to create their own ads. Most of the time these ads weren't fancy - lots of text, minimal graphics, etc., But they were effective. Why?
One misconception in today's broadcast driven marketplace is that in order for an ad to be successful it must be fancy, funny and far reaching. But getting there usually requires substantial cash outlays or the setting a side of one's ultimate purpose, to sell more products / services.
Return on investment (ROI) is a business term that, until recently, was rarely applied to MOST advertising programs. But back in the shadows, out of the spotlight were those people who long before the term became vogue, knew that their business's survival depended on ads providing a positive ROI. Consequently, they learned to write and design efficiently with an uncompromising focus on results. Each picture, each sentence had a purpose or were deemed unnecessary. Ads were tested and retested with slight differences all toward the goal of increasing or sustaining positive results.
So what makes a good print ad? The first step is focus. Make your overriding goal to get results. -PA-
Blurring the Lines of Ad Sales
Print, Internet, Events, Broadcast media — these are some of the areas that today’s advertising sales personnel need understand.
There is a term floating around among advertising and marketing departments these days called Integration.
According to the dictionary, to integrate is “To make into a whole by bringing all parts together; to unify.”
Seems self explanatory… right?
There is no questioning the fact that today’s marketing personnel are focused on this idea, and with good reason. Reaching one’s consumers is an increasingly complex process that potentially involves many individual parts.
It’s safe to assume that most marketers want to keep and succeed at their jobs. So, with that in mind let’s look at the problem from their angle.
Not too long ago marketers could reach customers through print or broadcast media. Television and radio were primarily entertainment oriented and deep, comprehensive information analysis was relegated to print.
Consequently, business-to-business advertisers knew that if you wanted to reach business consumers your options were primarily concentrated in the print media category.
On the other hand, business-to-consumer advertisers learned that one of the best ways to reach their customers was by marketing in the places where they got their leisure or entertainment, aka radio and television.
But as we all know, at the beginning of the twenty-second century that model began to change. Overnight the Internet grew, cable broadcasting blossomed offering choice and diversity, broadband communication opened the door for instant news / instant information, desk top publishing became a hot new industry with targeted publications popping up everywhere, e-mail became a standard form of communication, buses and trucks began to offer advertising opportunities and the list goes on.
Suddenly, marketers were faced with a complex and growing problem. How best were they to reach their customers? Which were to be the optimal mediums for insuring the highest returns?
In an attempt to cut down on the risk, marketers did something similar to investors on Wall Street, they created as it were an advertising mutual fund. The goal became to develop a marketing portfolio that would pick individual elements based on their probability for high return and low risk. Thus, marketers were able to protect their customers and their jobs by providing a consistent return on investment.
The advantages or disadvantages of this method of marketing remains a subject for some other time. However, as it relates to print ad sales personnel the implications are important.
Anyone who has sold print advertising for even a short time will likely concur that marketers are interested in options. Beyond run of press ads they want to know if you offer on-line advertising, e-mail advertising, list rental, event sponsorships and more. In short, they want to know how many ways you can help them successfully reach their customers. The print advertising sales person’s traditional boundary then blurs into new territories. As a result, to be successful in print advertising sales you must deepen your understanding and knowledge of what assets can be made available to your marketers. You must create a company wide portfolio or mix of marketing options that allow companies to diversify their risk and increase potential returns.
In short, the print advertising sales persons who will succeed at generating strong growing ad revenue in the days to come will be those that understand their customers needs and educate themselves with the knowledge, understanding and the skills to meet them. -PA-
UK Media Buyers & Advertisers Say Publication Size Does Matter.
A murmur has been circulating throughout the UK for the last several weeks and it's directly aimed at publishers. Specifically, those publishers that have changed the format of their periodicals (gone from broadsheet to tabloid).
For ad buyers, the argument goes... You've shrunk my ad space but held my rates. So, in reality I'm paying more. You're ripping me off.
For publishers, the argument goes... I've shrunk the whole publication but your advertising space remains proportional. The effect is a wash and you're just trying to get another discount.
The argument is an interesting one from both perspectives.
On the one hand, personal experience makes us sensitive to the advertiser's argument. After all, how many times have we purchased something from the grocery store only to find it thinner, shorter, smaller... but more expensive than before? There's a sense of irritation and helplessness that accompanies such experiences. So, to see someone finally standing up for themselves is refreshing.
However, on the other hand this situation is not exactly the same. While it's true the size of the publication has changed, it is not as easily argued that there is less value. In fact, if the size change successfully increases circulation and readership, then it can be debated that the advertising position should be of greater value.
Ultimately, finding the real answer is less about size and more about results. If an advertiser's results are suddenly falling off, then it's obvious a publisher must make some adjustments if s(he) wants to keep the business. Likewise, if a publisher is working hard to create greater value for readers and advertisers, then successful efforts should be rewarded not hen pecked.
It will be interesting to see how this controversy plays out in the weeks ahead. -PA-
