Here’s another report from Borell Associates that indicates the worst is over for newspapers as their revenue loss hits bottom in 2009 and stays at that level through 2014.
Now what? At least we know our independent retailers will have an opportunity to advertise in their local newspaper as the complete collapse isn’t going to happen.
The real story is to ask where consumers are spending their time before they go on a shopping trip. The numbers are clearly with the Internet where for most durable goods or considered purchases 70% of consumers who walk into a retail location have searched on the Internet before going into a store.
Most brand managers are still behind the times when it comes to providing the tools, money and information necessary to help their retailers adjust to the value of Internet marketing. We still give them ad slicks and co-op newspaper ads but don’t give them much help with Local Search, landing pages or microsites.
It most cases the newspaper still makes good sense but the percent of ad dollars spent there by your local retailers is out of synch with the way consumers spend their time.
It’s time to adjust.