About five years ago, on a weekend, Derek May — then publisher of the St. Augustine (FL) Record — was doing what many publishers were doing at the time: Trying to figure out the steep decline in advertising revenue he was seeing in his unit’s financials.
What was the main cause of the decline? The recession was the driver, of course, but was it mainly hitting certain categories of advertising? Certain types of advertisers? Big advertisers? Small advertisers? Read the rest of this entry
The local media industry is in desperate need of new business models. By now, after seven or eight years of brutal shrinkage in ad revenues — in the U.S., anyway — it’s painfully obvious.
And heaven knows we’ve been looking. We’ve tried a lot of things — new digital advertising and marketing products, sales department reorgs, newsroom reorgs, different content models, new niche products and websites, pay walls and meters, just to name a few. Some are even working, at least to some extent.
But here’s a model we haven’t tried: Calling on every possible local advertising/marketing customer at least once a year. Read the rest of this entry