Harvard Political Review earlier this month published The Future of Print: Newspapers Struggle to Survive in the Age of Technology, an article well worth reading. It takes us through the newspaper financial model and looks at the impact of technology.
Technology provides publishers the best option for efficiency, it dramatically cuts the distribution cost. Distribution newsagents who did not factor this into their business plan five or ten years ago are challenged today.
While there is a beautiful and emotional argument about the sound of the newspaper landing on the doorstep, the reality is it now costs to much to do this and so the service will continue to retreat.
Quite remarkable that with all the technology that should be available to them, when you try to subscribe to the HPR, it wants your shipping address so the printed hard copy can be distributed out to you.
LET’S HEAR IT FOR PRINT
This from The Newspaper Works.
https://thenewspaperworks.creatavist.com/real-estate-print-online
Some excerpts………….
Data reveals the power of print
HOMES are sold faster and for more money when advertised in a newspaper, according to new analysis of 850,000 homes sold over the past two years.
Average prices for houses increase by 8.7 per cent, or almost $50,000, in Perth when advertised in print and online compared with online alone. In Sydney, the city with the most expensive property market, the difference is on average $41,147 (or 5.1 per cent).
Similar results have been achieved in all capital cities………………………..
John Bongiorno, director of Melbourne real estate group Marshall White, says
“There was a house on Stuart Street in Armadale where one week we advertised online,” he offers anecdotally, “but we weren’t happy with the numbers at inspection. The next week, we put it in print and the numbers more than doubled.”……………………..
Tom Panos, general manager of real estate sales at News Corp Australia,
says: “Print is the media that gets people who are not even looking for a house, who passively flip through real estate sections and see a house they love. The next thing you know, they go to the open inspection”……………………..
News’ Mr Panos explains a pitfall of an online-only strategy campaign. “There are thousands of houses online. The research shows that unless you’re on page one or two of the search results, you’ve built a billboard in the forest.” Print triggers homebuyers to go online to find what they are want, he says.
“You’ve got to make sure your online and your offline are in line.”
WOW, what a great example of digital and print working well together.
Now all we need is for News Corp executives in charge of digital promo advertising to join the dots, just like one of News Corp’s General Managers, Tom Panos has done so we can get print advertising included wherever we see digital advertised.
Perhaps Tom could lead a training session for them titled how the power of print can lift the lot of a struggling digital presence in News readership.
Again from The Newspaper Works
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http://www.thenewspaperworks.com.au/print-digital-incredible-reach/
Print + digital = incredible reach
Newspaper media reaches 93% of the population every month, via print newspapers, computer or mobile device.
60% read a PRINTED COPY
1 in 7 (14.3% – my % calculation) read on a tablet or smart phone
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From the figures presented, you’d be forgiven for thinking digital was struggling, given the amount of time elapsed and the level of money thrown at it, yet still failing to make significant inroads into print. Perhaps it’s just not what consumers want at the moment.
Of course it probably depends on which set of figures you look at or which camp you listen to.