Media Solutions Blog
Accelerate Efficiencies
I caught this article today in Media Post, and couldn't have said it better myself, although I personally think the title should say "should be good".
The premise of Ms. Reichig's piece is that the media and agency companies that thrive are the companies that will use this time as a crucible to innovate and evolve. We at Media Solutions have frequently said that with technology tools, you can do more with less, and become more efficient. To paraphrase, "media companies should:
Increased Ad Pages?
The following story goes to show you that some clever magazine publishers have increased ad revenue and ad pages in the current climate. How? By focusing on customer needs and delivering what clients wanted rather than pushing the same tired rate card.
http://www.foliomag.com/2009/how-we-did-it
This is not a new idea, but it is one that doesn't get much play in the print world. SOP is create a rate card, sell ads, end of story. One challenge going forward is for publishers to adapt to customer needs on an on-going basis.
Unrealized Potential
The latest McKinsey Quarterly came out recently and it reports on an interesting trend occurring in business across the country. These days, executives are looking to tap into what the report calls the "unmet potential" in software and IT. Business owners are pushing IT staff to squeeze more strategic value from software investments. My take on the McKinsey report is that companies that are making capital investments in software tools are less focused on business process, and more focused on the net effect of all of those processes.
Solid Fundamentals
Like all of us, I have heard a lot about the predictions of gloom for the world economy over the past few months. No doubt about it, we're in a recession, and we're likely to stay here for at least 6 months. During that time, we are going to see some damage in the publishing industry. Advertisers are drawing back and that alone will be enough to doom those companies without strong fundamentals. Smart publishers and companies with longevity, strong brands and loyal audiences will survive. Here are a few ideas for keeping in their company in a down economy: