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The Canadian Newspaper Revolution
Transcript of The Canadian Newspaper Revolution
WHATEVER... INSIDE THE MIND OF A MARKETER THE BATTLE FOR THE REAL ESTATE GAME BLINDNESS BANNER 1994 First Banner Ad
AT&T's You Will Campaign 1995 Click-Through Rates: 78% Today: .02% CONTENT Brands as publishers ATTENTION Web Page Lifespan: 77 Days 1998 2012 Web Page Lifespan: 72 Hours 1 Billion New Web
Pages Everyday 9 Billion New
to advertise Inventory Prices Supply Demand duplicated content Screwed ADVERTISERS BUY MORE WE'RE GETTING PAID LESS ADVERTISING VALUES QUANTITY OF IMPRESSIONS OVER QUALITY OF AUDIENCE THE BATTLE FOR CONVERSATION 1% 6-8% 93% SOCIAL MEDIA VALUES INTERACTION
OVER IMPRESSIONS IT ALL STARTED WITH COMMENTS! The evolution of value THE BATTLE FOR CONTENT VALUES RELATIONSHIPS OVER IMPRESSIONS AND CONVERSATION High-Quality, long-term relationships are the most valuable! THE POWER OF SUBSCRIBE! THE BATTLE TO BE NEXT TO YOUR CONTENT! THE BATTLE TO BE PART OF THE CONVERSATION THE BATTLE TO BE ATTACHED TO YOUR CONTENT! ANDREW DAVIS LEAD SEED READ THE CANADIAN NEWSPAPER REVOLUTION FEBRUARY 6, 2013 Toronto, Ontario TORONTO AD CLUB LETTERS 2 WARREN I used to work at the Jim Henson Company Projected Revenue Over Time Revenue Source: $.05 for each time someone claims "Print is Dead" Gross Revenue # Of Times Claim Heard "If I had a nickel for every time someone said print was dead I'd be a rich man." Print is not dead.
It's evolving! PRINT IS DEAD YOU ARE IN GOOD COMPANY 700 New Posts a Minute
71.5 MM Websites in the US
400 MM People Reading
2.5 B pages/mon PUBLISHER EVERYONE'S A NO ONE'S PUBLISHED The only thing that differentiates you in a digital world is a print product. Information Available Amount of Information Information Overload Perceived Opportunity Actual Opportunity Information one can Consume 17 34 51 68 85 JUST BECAUSE THERE'S MORE CONTENT DOESN'T MEAN ONE CAN CONSUME MORE THE 3RD REVENUE MODEL JOURNALISTS 1 PLATFORM 1B Photos (April 2012) Who's Printing? 18-35 $14 B by 2015 InfoTrend (2012) AUG, 2012 ILLUSTRATED SPORTS FROM DIGITAL TO PRINT MICRO DAYPARTS PepsiCo & Quaker THURSDAY '80s Brandon
Tartikoff Must See TV NIGHTS NBC APPOINTMENT TELEVISION Well-formatted content delivered on a predictable & routine basis designed to build a relationship with your audience. TIME SHIFTING TiVo & DVR Appointment CONSUMPTION PURCHASED LAST WEEK GREENSBORO CIRC 58K AVG DAILY CIRC 59,351 AVG DAILY CIRC 40,467 STATE OF THE INDUSTRY 78% Of Canadians read a newspaper EACH WEEK 2011 NADBank Study THE BAD RAP CANADA Newspapers are thriving! WHY? CANADIANS ARE NOT AMERICANS NOT ALL US PAPERS REPORTEDLY Valued at 9X EBITA PAID 4X EBITA (READ RUMOR) POLLING TIME Why do you think Canadian Newspapers are more successful than American papers? 1 - We adapted to revenue changes more adeptly.
2 - We measure Readership instead of Circ.
3 - We have thriving competition
4 - We handled subscription rate increases better (including easy pay)
5 - We are more civically engaged and literate
6 - None of the Above. Berkshire Hathaway WARREN BUFFETT 63 Media General Papers ($142 MM)
28 Dailies (total) BERKSHIRE HATHAWAY PURCHASED NOVEMBER 30, 2011 TERRY KROEGER “We’ve got to evolve with what people are looking for, and I think our industry has done kind of a crappy job with that.” DEFINING MEDIA "Browsing" "Reading" "Playing" "Watching" "Listening" Branded Journalists Trusted Traditional Brands Consumers The Triangle
of Trust Legacy of Trust Earned Niche of Trust Inherited Trust TRIANGLE OF TRUST RIGHT MEDIA RIGHT TIME RIGHT MODE MICRO DAYPARTING & APPT. CONSUMPTION MODALITY AUDIO BOOKS
READING! THE BEST MEDIA FOR THE MODE THE CONSUMER IS IN. OCCASION-BASED MARKETING AS BRANDS #GOLDSBIESPHONE "“It’s working because we know him, it’s real, it’s in the moment, it’s concrete—it’s not a large, abstract, unsolvable problem...” Demchuk and others describe this less as a charity and more as “subscribing to Goldsbie.”
- David Demchuk (Helped organize Goldsbie's Phone) TRANSFORM THE AMERICAN NEWSPAPER INDUSTRY GOAL: A meeting with Warren & Terry 40 LETTERS OCTOBER 1 THE DEMISE OF DISPLAY ADS THE POWER OF THE JOURNALIST THE FUTURE OF DIGITAL IS PRINT BH MEDIA GROUP "No one has ever stopped reading half-way through a story that was about them or their neighbors." - Buffett POLLING TIME WHAT NEWSPAPER DID YOU READ THIS MORNING?
1 - Globe & Mail
2 - National Post
3 - Toronto Star
4 - Toronto Sun
5 - 24
6 - Metro News
7 - Other
8 - None We have a perception problem. We must evolve more strategically. REVENUE STREAMS V. REVENUE MODELS Community Impact Papers PROBLEM WITH PAYWALLS 1961 $109 IN SUBSCRIPTIONS AVG. AMERICAN FAMILY READING MATERIAL 2012 $118 IN SUBSCRIPTIONS AVG. AMERICAN FAMILY READING MATERIAL 2012 $857 IN SUBSCRIPTIONS AVG. AMERICAN FAMILY $21 MORE THAN 1961 ADJUSTED FOR INFLATION (Netflix, Flickr, Dropbox, Evernote, Pandora, Hulu) NEWSPAPERS ARE UNDER-VALUED! We must define our role in the consumer's mind. NEWSPAPERS & CIVIC ENGAGEMENT GREENSBORO VOTER TURNOUT - 70% AVG TURNOUT - 51.6% I'll SEND U MY LETTERS adavis@monumentalShift.com POLLING TIME WILL WARREN RESPOND?
1 - YES (Eventually)
2 - NO (R U Kidding?)
3 - With a restraining order INVITED WARREN & TERRY WHO THE HECK IS THIS GUY? 17 NEW WEB PAGES EVERY SECOND THE CONTENT CONTINUUM The future of digital IS print. 36 LETTERS POLLING TIME When is the last time you clicked on a banner ad?
1 - Today
2 - Within the last week
3 - Within the last month
4 - I can't remember ASK YOURSELF... What media best fits the mode my consumer is in at the time I want to reach them? 8:00 NBC in the '80s 8:30 9:00 EVERYONE HAS AN AUDIENCE ASK YOURSELF... What are you doing to build the brand of your journalists? ASK YOURSELF... What are you doing to define the specific time and mode your consumer is in when they consume your content? What media can you best use to own their time? POLLING TIME We're investing in...
1 - Mobile apps
2 - Video content
3 - Audio content
4 - Multimedia experiences
5 - Everything
6 - Nothing TOMORROW Start evolving WHAT you print.
Find new revenue models not revenue streams.
Focus on owning micro-dayparts with the right media
Embrace your journalists and the audiences they garner adavis@monumentalShift.com (617) 286-4009 YouveBeenDrewed.com OCCASION BASED MARKETING