The Web to Print’s Rescue? Why the Internet Could Save Newspapers, Not Kill Them
At an October 2005 speech to the American Magazine Conference, Jack Kliger, President and CEO of Hachette Filipacchi Media US, urged members to “use technology to not only improve measurement, and leverage our brands and content onto screen-based platforms, but to use technology to make it easier for our advertisers to do business with us.”
Several companies are in the process of trying to make it easier for advertisers to do business with publications by changing the foundation of the print business model — the selling process.
As president of Mediabids, I have seen print publications’ willingness to change quickly accelerate since we began offering an alternative selling method five years ago.
At Mediabids, advertisers and publications utilize several processes to simplify the ad buying process, including a reverse auction where the advertiser sets a budget and publications bid using space as the currency. Our process encourages registered publications to compete for the advertiser’s dollars by making bids on an advertiser’s set budget amount. By standardizing the formats of the bids, we have been able to create a method for advertisers to review what publications are offering and at the same time perhaps benefit from the competition which occurs when publications compete.
Others are trying to simplify print ad buying, using different methods. In a well-publicized experiment, Google recently acquired space from print publications and auctioned it off, in a format where advertisers bid against one another to win the space. Although a Google spokesman later called the effort disappointing, publications were enthusiastically willing to participate.
Some publications are even trying to implement change on their own: Over the past year, The Boston Globe has been auctioning off a half page once a week from their website.
And in one case, advertisers appear to be the catalyst for change. The Association of National Advertisers and eBay are developing an ad-selling marketplace, primarily for network television, but which may also be applied to print.
Whether out of desperation to stem their eroding economic position, or in an effort to correct long-standing inefficiencies, print publications are increasingly willing to use online marketplaces to sell advertising. Perhaps, the Internet won’t end up killing print, but it may end up saving it.
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Tags: case_study, local_targeting, mediabids and newspapersArticle Sponsor
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