It’s sad. Even online advertising on major newspaper home pages is dwindling. These guys can’t catch a break. I fear the death of newspapers and really believe Craigslist is the killer. Not really Craigslist, because online classifieds were going to happen; effectively diminishing a multi-billion dollar local classified industry down to the $100+ million revenue of just one company with less than 50 employees.
And this New York Times article shows even major newspaper brands continue to lose revenue to more pedestrian online sites. So, while online advertising continues to increase, these news outlets are seeing less and less of the money. Apparently, even major advertising campaigns spending $100,000 per WEBSITE are finding that smaller, targeted ad campaigns are more efficient and effective. However, I think blending the use of these sites, as discussed in the article, is very effective for Brand Image promotion along with product sales/lead generation.
From the article: Over all, the Internet is the only advertising medium expected to grow this year in the United States, rising 9.2 percent, to $54.1 billion, according to figures released this month by ZenithOptimedia, a media service firm.
My small business accounts already understand this. I’ve encouraged them to increase spending on their Internet marketing from improving their websites to trying new pay per click or direct email campaigns. We’ve found funds by cutting back in more traditional marketing areas, such as less print (Ads & collateral), less trade shows, less travel. And so far, we’re very pleased with our results.
So it begs asking…what multi-billion dollar industry are we hurting? I guess I shouldn’t think poorly of my ‘friend’, Craig. Afterall, ‘he’ did help me sell my leather Den furniture in just two days. 🙂