As I read through all my morning newspapers and online sources today I find a very common thread. Marketing in the digital non-traditional way is hot, traditional (old school) advertising is not.
21st century online newspapers
Google CEO Eric Schmidt spoke yesterday to newspaper executives at the Newspaper Association of America’s annual convention. He told newspaper peeps that if they want to survive in the online world they need to push online advertising revenue and not charge readers. He made a very good point. People don’t need to pay for online news. The way the internet is set up, you can find whatever news you want for free. Of course by using Google. He suggested pushing more online advertising and maybe charging readers for niche articles. For example the online paper is free but if you want to know more about wine, then you can buy this type of service. He compared this to the TV business. The broadcast networks started and continue to be funded by advertising. Cable networks are niche and can charge.
Maybe the traditional version of newspapers should charge less and gain more readers. This in turn will bring back advertisers. As I say this The Boston Globe has announced a price increase at the newsstand. Yea, that will keep your readers. “Our NYT owners want to close us so let’s charge more”!
Mobile marketing is slowly getting there
The Wall Street Journal is reporting that mobile advertising is gaining momentum slowly. The biggest issue I see facing mobile advertising is budgets. As companies cut back on advertising, marketers tend to go into the “comfort zone”. They look to traditional advertising methods which don’t have the ROI they once did. Mobile marketing has a few different elements for use of advertising. You can run banner type ads like internet websites. It has better data capture for an enhanced personal sell. You can send text messages directly to a customer. You have a better chance that a customer will read your advertising message on this personal small screen. The article quotes Eran Hertzmann from Mobixell Networks ”it’s the last screen they look at when they go to bed, and the first one they look at in the morning”.
Ad Age today is full of digital marketing
Today’s online version of Ad Age is full of articles about marketing in the 21st century because they have been hosting a digital conference.
There is an article about venture capitalist Fred Wilson telling marketers at the Ad Age Digital Conference to spend more dollars on Facebook and Twitter and less on TV. He calls these sites “earned media”. He gives examples such as the Burger King Whopper Sacrifice “killed friend” promotion on Facebook or Disney promoting the Jonas Brothers online instead of radio. He also predicts that Twitter will have 50 million users by the end of 2009. Check out today’s Ad Age online. They have some really good stuff.