Magazine ad sales were down an average 12% last year. The BusinessInsider has the full story and a spreadsheet that shows the breakdown for each magazine. This news is not surprising given that newspaper ad spend has been steadily declining over the last few years.
The down economy has affected almost all corners of business including advertising. However, there is more to the dramatic decline in traditional media ad spend than the poor economy. Newspapers, magazines, and radio are no longer the medium of choice when people want to find out about something. These days, the first place to look is online. If you want to know something, just “Google it.” If you want to find someone, go onto Facebook. If you want to watch a TV episode that you missed, fire-up YouTube. If you want to hear a particular song, download it from iTunes. With the Internet, information has become democratic and a lot more immediate.
So what is a business to do if they want to reach their target customer? Simple … go to where the target customer hang-out. 21st century business must use 21st century advertising techniques in order to remain effective. Advertise on Google, Facebook, YouTube, Ask.com, Myspace, and all the Web 2.0 properties that allow it. The new lingo for online media include words like — Pay per click, Contextual ads, Interstitial ads, Banner ads, Sponsored links, Pop-ups, Pop-unders, Pay per view, Text message ads, Thank-you page ads, Co-registration, and Downloadable software. I know it may sound daunting for the uninitiated, but the principles of advertising remain the same, regardless of the medium. It’s just that online, the effects are almost immediate. It’s certainly a lot more measurable compared to offline ads.
Over the next few blog posts, I’ll cover the strategies that you can employ to increase your marketing ROI during this time of transition and change.
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