Alan Mutter published a blog post post today, citing a new ITZBelden poll in which 23% of local businesses said they planned to trim their newspaper advertising budget. That’s obviously bad news for an already struggling newspaper industry and is especially bad for smaller hyper-local papers.
On the other hand, that same percentage of companies plan to increase their online advertising budgets by 11%-30%.
Perhaps the most interesting revelation from this survey was how much advertisers trust their local newspaper ad reps, and how they wish their reps would help them incorporate online advertising, including social media. This confirms what we here at Seeing Interactive have known for some time: newspapers can make more money selling online advertising because most local businesspeople want a stronger online presence, and most of them trust their local ad rep.
I’ll quote the last bit of Alan Mutter’s post because it says it all:
What does it all mean? Simply this: Newspapers can’t afford to lose the faith – and the patronage – of retail advertisers.
One potentially powerful way for newspapers to reassert their relevance to advertisers is by establishing themselves as experts in the growing array of digital media that merchants are hoping to use to lure customers to their businesses.
Encouragingly, 71% of respondents to the ITZBelden/API survey said they are confident that newspaper ad reps could help them make the most of their marketing dollars on the web, social networks and in mobile media.
“I was blown away” by the faith they have in newspapers “to guide them though the bewildering array of new media,” said Greg Harmon, who conducted the poll.
Noting that his ongoing research into consumer behavior on newspaper websites has found that 60% of the visitors to the typical newspaper site are using Facebook or other social media, he added:
“Our audiences are there. Our advertisers are there. But where are we?”
To learn more about how we can help your newspaper make more money online, visit our products page or call us at (888) 850-2497.