There's been very little feedback or reaction to the
previous newsletter suggesting more ideas and more
failures and a greater pace would be a good thing for
news "papering". We're either on to something or
everyone is hard at work implementing their latest and
greatest ideas and don't have time for discussion. No
other possible explanations come to mind!
We'll continue in the same vein and highlight other
thoughts for your contemplation...
...saying "thank you". Not just to the million
dollar advertiser and not merely with those two words,
but across our organizations and to all who granted us
the privilege to serve.
Something more than the carrier form letter at
Christmastime thanking for another year. (...what
about some of those extravagant offers papers are
enticing high churn new subscriptions with?) Or, really
partnering with advertising customers to offer their
products and services jointly to prospective reading
customers in the geographies advancing their cause.
Or, a systematic contact by reporters after an article
has run and getting feedback on the coverage and
thanking the source for their time and input. I can
hear the hoots and hollers now, but harvesting our
human capital in ways previously unheard of
will be part of our future.
...Along the same lines, is there a way our newsrooms
can help us build our database? There's been talk from
many papers of creating a universal database allowing
advertising to "talk" to circulation, but the editorial
side of the equation has rarely been a part of that
discussion. We need to truly be "universal" and better
capture all the ways our constituents interact with us.
That means the internet, too. In Spades. And, then
some.
This point bears repeating: IF audience is our most
important external asset (and, it IS!) we need to be
able to parse it in ways all customers want. This
demands the creation of that overall internal database
facilitating this eventual reality.
...for ages we've heard about Convergence.
Well let's set the record straight. It doesn't exist!
There IS collaboration between reporting and
advertising staffs of co-owned or partnered television
and newspapers, and those experiments should be
applauded and continued. There are real successes to
share. Lessons learned should help on future
distribution platforms.
BUT, things don't converge. They get MORE
complicated; not less. So, if you are dreaming of the
day when you will be publishing more with less,
forgetaboutit.
To reach the more diverse reader and advertiser with
an increasing variety of tastes and preferences,
newspapers will be offering more products, tools,
platforms and options. Count on it.
...it won't be long before we begin to explore genuinely
new and innovative ways of pricing our product. We
must.
Not just the day-of-the-week or readership notion
that seems inevitable, but building a new paradigm
allowing micro payments for each and every little
article we have served up on our computer or delivered
to our doorstep. Or, advertisements? Or, material
unpublished from the various feeds we "edit" before
publication?
The entire array of offerings we have lends itself to
that possibility and the sooner we begin testing that,
the better. Think how valuable decades worth of
archives could be if offered in a way that provides a
decent value? It could be HUGE!
...targeted serendipity. It wasn't all that long
ago the serendipitous quality of newspaper reading
was touted as an unsung benefit. And, for those of
the baby boomer and older cohort, that is probably
true. But, young news seekers and gatherers do not
consume news or "surf" the web, they are looking for
something specific. They have a destination, whether
it print or online. So, we have to create the
serendipitous experience or quality by redirecting them
to other articles or ads that might be of interest, given
those previously read.
The notion of "amazoning the news" is not new, yet it
has legs! Not in just reader ranking of the articles or
subject matter we publish, but in the ads and
columnists and everything consumed
and read.
As you might expect, that also requires the "universal"
database previously mentioned. While this clearly
focuses on the online opportunity, we all must think in
grander ways! Today's internet is like the early days
of electricity... we're only seeing the most basic
offerings. When very high speed, 24/7
ubiquity is the norm (wimax, not wifi) news and
information consumption will often be "on the
fly"... Are we there yet?
...similarly, the time for user generated material has
arrived. A couple of organizations are succeeding
already (Memphis, Bakersfield, Jacksonville...) but it is
crystal clear the "newspaper" as a conduit which
facilitates communication between audiences is REAL
and we should be experimenting to fully understand
the consequences of such connections.
...is the time right to harness the technology that
converts text to speech for a true audio newspaper?
There have been attempts in the past. We were even
engaged about 5 years ago to research the possibility,
but maybe now is the time? Perhaps as a premium
service on satellite radio? It seems to me if there is
a "niche" for the full paper-to-web product like
Newsstand or Olive, the same could be true with an
audio version?! (...if location based services are real
[and they are!], this is even more tantalizing!)
...speaking of location based, sooner or later we'll
harvest the power of mobile telephony. If novels can
be distributed via phones in Japan and ads can be
served up based upon interest in Europe, we've got to
learn from others and create products and services to
harness the 112 million text enabled phones already in
use.
...ok, last point - and, this is a BIG ONE.
All this R&D...all these diverse products...the
requirement we segment our content in ways mirroring
the demands of an increasingly segmented audience
suggests smaller margins. There's no way around it.
The math or accounting doesn't work any other way.
So, someone tell Wall Street what we are doing - -
financing the next news"paper" paradigm on the final
generation (one is all that is left) of an existing
paradigm which has served us (and them) very well,
and that by taking EXCELLENT care of a new
generation of readers/viewers/user etc., we'll grow for
a l-o-n-g time to come.