While there are alot of cool things you can purchase in 2010, high on the top 10 list of things not to buy include newspaper and magazine subscriptions according to SmartMoney.com.
The past few years have been unkind to the publishing industry.
Steep drop in newspaper ad revenues!
In 2008, newspaper advertising revenues declined by 17.7%, according to the Newspaper Association of America. Meanwhile, average daily circulation at 379 newspapers fell 10.6% from April through September 2009, compared to the same period a year ago, according to the Audit Bureau of Circulations.
Magazines are synomous with #Fail
Magazines haven’t fared any better. In 2009, more than 360 magazines shut down. During the first half of 2009, ad pages fell 27.9% when compared to the same period in 2008, according to Publishers Information Bureau.
The morning newspaper has been replaced by a growing online media presence — much of which is accessible for free. The Amazon Kindle — even with its price tag of around $250 — and other eBook readers could increasingly become one-stop sources to access newspapers, magazines and books.
CD’s and DVD sales are down as well!
When was the last time you bought a CD or even walked into a record store?
The past decade was one of the worst for the industry. In the beginning, there was Napster. Then came iTunes, which was introduced in 2001 and offered affordable pricing and easy accessibility. Face it, CDs aren’t coming back.
Record stores are feeling the pinch. Most Virgin Megastores in the U.S. have shut down following declines in sales and revenues. In 2004, Tower Records entered bankruptcy and by 2006 most locations had closed.
What does that mean to small businesses?
Well, for one, ad rates are going up, but readership is going down. 2010 is the year to realign your marketing dollars! Whether you understand it or not and whatever you want to call it, New or Emerging or Social Media is here. And it isn’t going away soon. So, you can go the way of the pony express (seen any ads for pony express riders lately?) or you can get engaged.
If you are trying to market your business, goods, or services, you can no longer go old school advertising! And just like you wouldn’t create an ad without help, your foray into social media shouldn’t be without some guidance as well. Find someone who has current clients and a track record to help you navigate your way.
You won’t need help forever!
But you will need help to get started. Help to find the right sites to be on, proper account setup and how to handle negative comments. But sooner than you think (for most folks 45-90 days), you will be in a position to take over your social media presence on your own if you so desire. In the interim, get some help.
At Social Media Dudes – we specialize in online strategies for small businesses in northeast Georgia and Metro Atlanta. Contact us here
Follow the Social Media Dudes on twitter: @DennisLLynn and @johnpanico
If you are looking for free tips or advice on how to approach your social media, go to Social Media Dudesand subscribe to your newsletter in the upper left hand corner! Still not convinced that social media is right for your business? Read this and get our F.R.E.E. report on the 7 Myths of Social Media! Or follow our tweets on Twitter at twitter.com/johnpanico Finally, those are my thoughts from high atop my 2nd floor office above my garage. What I want to hear are YOUR comments. Please leave one now.
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[...] The average age of magazine readers is now 45 at the same time that ad pages continue their downward [...]
Great information! I’ve been looking for something like this for a while now. Thanks!