digital or die!
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The 7 deadly sins of the traditional print publisher.
Drew FortinMarketing Director, Digital ProductsPennySaverUSA
[email protected]@fortin on Twitter
Isaac TaylorProduct Manager, PowerSitesPennySaverUSA
…the reason newspapers are in trouble isn't that they aren't making lots of money -- they still are...but that their business models and payroll depend on so much more money.
-Derek Thompson of The Atlantic
1962 Mission – Connect buyers with sellers.
It’s still a
$20B industry
State of Local Business Marketing
•28% of SMBs’ marketing budgets still go to direct mail
•$23.4 Billion 2011 Global Yellow Pages Revenue
•New services are primary digital growth drivers over established Internet platforms
•Investment shifts to digital products are critical to any return on growth
And it’s
NOTgoing away
Digital Means Good Things For Advertisers
83%Of consumers research online before shopping in-store.
- Pricewaterhouse Coopers March 2012 Report
Digital Means Good Things For Advertisers
ROIAnxietyRelief
Digital Means Even Better Things for Publishers
21%Of newspaper revenue from digital ads by 2016.
- eMarketer January 2012 Report
Digital Means Even Better Things for Publishers
7 Deadly Sins
Wrath
ExtremeAnger
Lessons From The 3-Pointer
Photo Credit: billaday
"People will say, 'You're putting the little man back in the game,' and that's good.“
– Ed Steitz, inventor of the 3 point shot
Take a serious look at the competition… •What do you have that they don’t?• Localized products• Targeted traffic• Loyal readers• Relationships• Brand voice and assets
• What do they have that you don’t?• Traffic/Users
Digital Anger Management 101
Envy
resentful longing aroused by someone else's possessions, qualities, or luck
Look forward.
“Until recently, the holy grail was summed up in two words: replacement revenue. Now the jig’s up. No matter how fast you shovel digital dirt into the chasm of print loss, you can’t recreate the past; you can’t fill the hole.” –Ken Doctor
Pride
feeling of pleasure from one's own achievements
We all need to adapt.
“it’s not the strongest that survives. Or the most intelligent that survives. It’s the species that is most adaptable to change.”
- Darwin
• Bundle products together
• Use digital to create sticky
customers
• Constantly test new products &
pricing
• It’s okay to fail, but fail fast
Gluttonyhabitual eating to excess.
Spread the risk & improve advertisers’ results.
Don’t Go The Way of MySpace
GreedIntense & selfish desire for wealth or power.
Lessons from the Long Tail
Reven
ue
POTENTIAL CUSTOMERS
Small pool of print customers that account for majority of revenues
Larger pool of potential online customers but each with lower revenue potential
Lust
A very strong desire.
Mom and Pops are, and will continue to be where our margins are.
Mom and pop shops are like rabbits. They’re small, but when you get enough of them together an elephant will seem small in comparison.
SlothNot adapting to change because of pride can be bad.
Being slow to adapt because of slothfulness can put you in an equally bad position
Reluctance to work or make an effort; laziness
By being quick to adapt and by pushing hard early on you will gain the advantage you need over your competition!
It’s really not about digital…it’s about your customer
Take a serious look at the competition
Create new revenue streams
Marketing or bust!
Diversify & bundle with digital products
Stay focused on the end game
Hunt bunnies, not elephants
Use your size to your advantage
EVERY POWERSITE INCLUDES:• WEBSITE CREATION• WEBSITE HOSTING• WEBSITE PROMOTION
Now is a GREAT time to start!
PowerSites:$50 PowerSite Setup FeeX25 PowerSites$1,250
We’re giving away 25 FREE PowerSite setups to everyone who signs up to sell PowerSites by May 31st.
The other guys:$500+ Typical Setup FeeX25 Websites$12,500
PowerSites:$50 PowerSite Setup FeeX25 PowerSites$1,250
The other guys:$500+ Typical Setup FeeX25 Websites$12,500
$$$
Thank You!
Drew FortinMarketing Director, Digital ProductsPennySaverUSA
[email protected]@fortin on Twitter
Isaac TaylorProduct Manager, PowerSitesPennySaverUSA