It’s no secret that magazine and newspaper publishers have been facing tough times. In the past year, digital ad revenues have fallen by 2 percent, and overall revenue for magazine publishers dropped by 4.5 percent. Plus, the lion’s share of digital advertising dollars has been going toward Google and Facebook, and not to publishers. Increasing digital revenue is a difficult challenge for publishers.
At the same time, certain media trends are offering the chance for publishers to blossom. These are trends that savvy publishers can grab and use to their advantage:
1. Personalization: Personalized emails and websites are becoming ubiquitous. Many companies, including Facebook, include a personalized greeting that invokes the user’s name. By now, nearly 70 percent of emails use personalization, and publishers who want to stay in the game and retain customers have to personalize their emails and websites as well.
2. First Party Data: Technology can and does track the behavior of visitors to any website. These data reveal information about publishers’ content, such as which pages most interest readers. Using this information to improve webpages is crucial for publishers who want to thrive.
3. Reams of Content: Content, both in written and video form, floods the Internet. Readers and viewers can’t possibly pay attention to more than a tiny fraction of it. Publishers have to produce excellent content and use the personalization and first party data to catch their target audience’s notice.
4. Video Content: Video is taking center space in content and marketing. According to HubSpot, a sales and marketing platform, combining video with ads increases engagement by 22 percent. Publishers have to produce attractive videos to engage their readers. Furthermore, displaying videos on social media draws readers to publishers’ websites.
5. Email Newsletters: It might sound outdated, but an email newsletter is still an excellent format for drawing in readers. Reuters found that American readers spend more than six hours daily checking email, and according to the Harvard Business Review, millennials, that cohort most desirable to publishers, check their email more often than any other age group. Newsletters engage readers, earning an admirable click-through rate. Publishers can easily take hold of this trend by sending out weekly newsletters.
Publishers simply cannot ignore these media trends. The rise of mobile means that even people who still read print media want to access their media online as well. Grabbing their attention in a crowded online marketplace calls for smart strategizing and making the most of available resources.