It’s Growing, but not fast enough.
For media companies, online revenue growth is paramount. In many cases, growing online revenue may be what saves the company…. or industry.
But growing online revenue is harder than it may seem for many media companies. The players are unfamiliar, the rules are changed, and the advertiser expectations are extremely high. What? You mean that you need direct results from your advertising?
Many media companies find themselves having limited success with their online initiatives. While revenue is growing, it simply does not make up the loss that is being realized in their core offering.
My advice to you (for what its worth) is to quit thinking like a media company. The rules for online are different. Stop focusing on selling ads and start focusing on how you can add value to advertisers by delivering a unique, meaningful experience . Warning… you may have to work much harder for online advertisers than traditional ones.
With all challenging news, there is usually a silver lining. For media companies, the good news is that you have the promotional ability to reach and attract a large audience. What you do with that audience is up to you. Creating rich vertical sections (classified or otherwise) is going to be what secures your future in growing online revenues. By creating meaningful vertical sites, you have the ability to tap recurring revenue streams from a very wide base of advertisers…. largely new to your media company.
