Saturday, May 7, 2011

Newspapers don’t need new ideas; here are lots of ideas for new revenue streams

 Steve Buttry commenting:
Actually, newspapers don’t need new ideas. They need to unshackle themselves from their old advertising-and-circulation model and start serious pursuit of the dozens of ideas already presented for developing new revenue sources. Here are some ideas (not all mine and not new here, but not yet in wide use, at least by newspaper companies):
Develop the must-have driving app for your community. I first outlined this idea two years ago in my Blueprint for the Complete Community Connection. I am not aware that any news organization (or anyone else) has tried it yet. Mutter notes that the newspaper ad decline has been most severe in automobile advertising, falling from $5 billion in 2004 to $1.1 billion last year. Auto manufacturers and dealers have built better tools than the newspaper want ads section for selling cars.
...
Social media. Community news organizations can help local merchants develop social connections in the community. News websites using ads (check out the possibilities offered by NowSpots) that feature social media content can offer more meaningful ads to businesses — timely, easily updated ads that build a business customer’s social media connections.
Blog networks. One of my biggest disappointments in the TBD experience is that we did not pursue the full possibilities of selling ads (and coupons, deals, direct transactions and other commercial possibilities) through a network of local blogs and sites. Someone is going to demonstrate the rewards in such a network.
MH: and much more at:
http://stevebuttry.wordpress.com/2011/04/29/newspapers-dont-need-new-ideas-here-are-lots-of-ideas-for-new-revenue-streams

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