168 Years and Bang…By joanne | 11th July | Marketing Training
It’s no secret that things haven’t been going well in the newspaper industry for some time. A number of research studies have quoted readership figures reduced by up to 50% since internet news became an option. (How would you cope if you lost 50% of your customers in a few short years?)
In addition, combined with the internet, the recession has reduced advertising spend in traditional media, making it more difficult for them to conduct business. (Just look at the number of local papers that have closed since the beginning of the credit crunch.)
There’s no doubt that things are changing. And I have no doubt the newspaper industry will survive. In the same way it had to adapt to the invention of radio and then television, it will cope. But it will need to adapt (as all businesses do) to the changing economy and business environment.
That aside, I wonder what the customers of the News of the World ‘establishment’ must have thought when they heard it was being closed? And I wish they’d let it play out from a marketing point of view – wouldn’t it have been interesting to see whether their readers voted with their feet and stopped buying it. Or whether they continued to purchase a paper which was the favourite of many.
Don’t get me wrong – I was appalled and disgusted by the headlines. But I wasn’t a customer. And I’m fascinated to know what their customers think and whether they would have changed their habits in volume. After all – they say any news is good news!
I also wonder what will happen next. Will there be a swing away from newspapers; forcing them to clean up their act? (Consumer power is stronger than ever and there are now free alternatives for obtaining your news.) Or will people continue buying newspapers just as they did before the headlines broke? Either way, it will be very interesting to watch from the sidelines.