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December 2002
Partner Observations
Don’t know how else to say this - Belden Associates is working on a host of very cool assignments right now. In the past year we’ve conducted research from Alaska to Florida on projects ranging from classified advertising to weekend package structure to newspaper design to branding to pass along readership. Just about anything you can think of. In addition to the travel necessitated by such diverse clientele, we regularly attend a dozen or so industry gatherings.
Consequently, we’re in a position to hear (and learn) and form opinions that guide us strategically and often play a key role in our recommendations.
Today’s goal is to share some of those insights, as well as, a few of the most interesting comments or quotes from conversations or presentations …we hope you’ll find these of some value –
Two advance highlights:
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A common thread we’ve encountered again and again which is critical to the success of our industry (we’ve made this observation REPEATEDLY!!!) - PEOPLE!
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It looks to us as if there’s GENUINELY reason for optimism. Cautious.
Even if there’s room for improvement as we train our sales teams, the fact remains the 50,000 or so newspaper sales representatives calling on advertiser’s and all our customers number far more than any other media. If properly directed and leveraged, that can be an ENORMOUS advantage – we should be capitalizing upon and investing in that strength repeatedly.
If we have dynamic databases (seems to be happening more often!!) connecting those customers (and subscribers, etc) so much the better…and sooner or later that’ll be the norm, rather than atypical.
Loved this comment:
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Getting better at yesterday’s business is pointless. (And, similarly, “Managing backwards doesn’t move you forward very well.”)
Have seen this and heard Tom Peters cite the same quote:
Steve Case said: “There will be more confusion in the business world in the next decade than in any decade in history. And, the current pace of change will only accelerate.” So, if change is accelerating, then those that change relatively easily will dominate their competitors. How well do newspapers fit in that mix?
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“…a strong brand does not entitle or bestow the right to succeed. It requires work, vigilance, commitment and money.” Not an exact quote, but paraphrasing (my fingers weren’t fast enough) Seth Godin, author of Permission Marketing and Survival is Not Enough. He goes on to comment that “people want the new, newest thing. So, all providers of product and service are really in the “fashion business.” Did you know that Coca Cola has 52 brand introductions each year? We don’t see ‘em all, since many are not in this country.
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More than one recruitment and/or employment executive cited an awesome statistic – the first year coming out of recession, employment revenues have increased an average of 38%!!
- There is going to be a critical labor shortage – especially at senior/highest levels. How can newspapers leverage?
- “Surround yourself with great people,” says Rudolph Giuliani in his recent book, Leadership.
- Rate increases don’t drive revenues. (This came from a classified conference, but could apply to other categories, as well)
- Promotion point – newspapers generate 42% of respondents. (The general misconception has been that referrals are most responsible for job leads – it’s NEWSPAPERS!)
A specialist from the Employment Management Association said:
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#1 goal – high quality applicants
- #2 goal – return on advertising investment
- #3 goal – stimulate desire to work for company
- Best media to accomplish objectives – newspaper/online dead heat.
- Categories important.
- As far as filling specific positions from local applicants, look at how we do!
- 71% newspaper
- 18% internet
- Newspaper internet sites must play dual role - national & local. Focus on local, but 69% of recruiters want to broaden their search area.
- General point - research looks at print/online separately; there should eventually be a combined metric. “Aggregate readership”?
- Seven largest employers in Jacksonville, Florida tried Monster.com; and concluded they won’t use again. They are looking for:
- More niche employment products
- Better content
- Help with niche websites
- Profile local companies (3-4/week) as content, online easily
- “Top jobs” online – print
- Shared online with top 30 papers in Florida – a cooperative offering that seems to be working
- Partner with radio to get audiences that newspapers miss.
- 34% of homes sold are NON MLS transactions:
- FSBO
- Retirement
- New
- Vacation
- Commercial
- Foreclosures, etc.
- Real estate sales representative with brokers licenses to get MLS listings and generate revenue from leads!!
- Recruitment = “local phenomenon”
- By 2010 employment up by 28%
- 95% of listings on Washingtonpost.com are not in print.
- Companies with 2000+ employees small percentage! Focus on “mom and pop”!
- 75% of new jobs come from companies with less than 50 employees.
While we strongly believe newspapers should go BEYOND emulating just the “best practices” of others (what’s wrong with innovation?) it’s educational to learn from some of the pioneers (newspapers and advertisers) as we become masters of the internet domain. Good luck to all – have a wonderful holiday season!
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