4 Strategies That Will Help Publishers Compete in an Age of Disruption
It's no secret these are tough times for publishers. According to research by The Media Briefing, the combined circulation of the top five magazine groups for Bauer, Condé Nast, Dennis, Future, Hearst, and IPC have undergone a 44% decline from 2000-2014.
Added to this pressure is the role social networks are playing in stealing web traffic (and yet more ad dollars) from publishers' owned digital properties. So with these negative factors weighing on the industry, how can publishers compete?
The answer lies in finding new ways to enhance media portfolios with innovative advertising and multi-platform strategies that take advantage of customer data to target content more effectively.
Readers Want Interaction
Publishers are under constant pressure to prove their sites are the most competitive, most socially engaging, and most effective in the marketplace. Creating a deeper, more authentic relationship with readers requires more interactive campaign experiences mixed with compelling editorial and user-generated content (UGC).
Research has shown 1 in 10 consumers have submitted UGC to news websites or blogs and 46% of social network users discuss news and events on social media. As a result of this willingness to engage, pages with social content and interactive apps see a 10% decrease in bounce rates and three times as much dwell time as standard pages.
Make the Most of Multichannel
Publishing companies wanting to boost the impact of their editorial campaigns should also run them over multiple channels. Taking this approach creates swathes of data, and innovative companies will mine this for clues regarding the content's success as well as for creating targeted advertising campaigns. Content should be tagged and categorised across social media, with likes, comments, and shares recorded.
Other good data sources are email subscriptions, competitions entered, analysis of social network interaction, and the creation of publicly available information on social sites, such as gender and location. Subscriber accounts provide even more profiling data.
Richard Jones is the CEO and co-founder of EngageSciences, a digital engagement platform that helps Fortune 500 brands in 76 countries activate their audiences online across all digital channels, networks and devices through User-Generated Content. Richard is a regular speaker and contributor on social media topics.