Newspapers need to deliver a whole new range of services to advertisers if they are to provide real value for money. That is the recommendation of a new publication from the World Association of Newspapers (WAN).
In the current era, return on investment (ROI) has acquired special significance in the media world and publishers are under pressure from advertisers to deliver results.
Added Value Advertising, the latest report in the Shaping the Future of the Newspaper (SFN) project (see
WAN Hails The Distribution Revolution), includes a 10 step plan to developing effective products and services.
The Advertiser Development Programme advocates the introduction of segmented products that target specific interest groups. This can be achieved by exploiting new inserting technologies that provide greater flexibility and utilising company databases to gain further knowledge about readers.
WAN claims print advertising often fails to reach its desired audience. The solution could be as simple as optimising and rotating the position of advertisements in the newspaper. Publishers also need to reach out to non-readers to find new markets for advertising. ‘Out of market’ distribution allows a newspaper to reach a wider audience or support titles from other markets in their distribution in its area.
Finally, the report encourages newspaper owners to form partnerships with advertisers in order to find new opportunities. In this way, two parties can share resources, bringing innovative services to readers and drumming up new business via events, creative services and market research.
“Newspapers can benefit from a range of new activities, not only in terms of generating profits but also in strengthening their relationships with readers and advertisers,” said Jim Chisholm, Strategy Advisor to WAN and author of the report. “There is a wealth of exciting developments going on in our industry across the world in terms of adding value to the advertising proposition.”
