“Creativity is allowing yourself to make mistakes. Art is knowing which ones to keep.”
I’m just rereading a piece about higher education dying just like the newspapers and I can’t help thinking that newspaper publishers need to just redefine themselves and their products and find new sources of revenue.
How do newspapers make money? Ad Sales and Readers, right? Who really cares what the medium or channel is. Expand your market base as one side constricts.
With ad sales, I’m pretty sure that the news agencies invested in technology spends to run those online digital ad networks across their sites. Start offering those services to a larger market with a better price point. Offer to sell ads for the Pennysaver like coupon papers, small publications and other publishers living on the ad spends; expand your sales for your services not your content.
You have the experience with sales, ad creation and technology to run it all. So use it for more than your own publication.
I mentioned getting revenue from services, so I’m sure lots of folks are shocked. Don’t be, I think they should continue to sell their content to readers with subscriptions. Subscriptions sold by paper, digital or mobile, sell them all just drop their price.
Did she just say “Drop Their Price”? Yes, I did. Expand your other market with content. Sell it to and for every blog etc that wants to republish it. Allow all teasers for free to entice and offer a soft baseline of information. But sell the republish rights for each item for a penny. One cent.
Will these ideas offer a big enough return to be considered by the Knight Ridders (The McClatchy Company) of the world? Maybe not, but then again I never said I had the solution just a few random thoughts…..
What do you think?