If I randomly asked someone to label the newspaper industry, some of the words they would say might be: old, dying, not relevant, boring and stuck in the past. As much as those words hurt, there is some truth to them. But on the flipside, I see a lot of innovation going on that is exciting that leaves me with hope for the future of the industry.
Recently, I hosted an idea exchange for member newspapers of the Hoosier State Press Association. The hour long discussions on revenue ideas for newspapers were anything but old, boring or stuck in the past. Yes, there was good discussion on special sections and other tried and true products that are a part of newspaper's past. Yet even those have such unique twists on them that they would barely be recognizable to what the industry was doing when I first started selling advertising.
Three categories of innovation were a big part of the discussion, showing the evolution of newspapers into the 21st Century. There was plenty of discussion on events, unique ways of connecting with locally owned and operated businesses and of course digital marketing.
Larger daily newspapers were the first to jump in and start doing events, and that is still happening today. But on the call, it was great to see large and small daily newspapers sharing their successes on event marketing. Let's not forget weekly newspapers, which have also discovered ways to connect with their readers by creating unique events in the market, and the resulting profits too. Recruitment revenue has been tough to come by for many newspapers in the traditional sense. A way of recapturing that lost revenue is with job fair events, one of the easier events I think you can put on. Pinterest has helped inspire many people to start doing their own crafts, and has inspired many newspapers to put on local craft shows, highlighting the talents of the area. Several newspapers have jumped into events focused on women, which makes sense. Women drive the majority of consumer spending, so creating engaging events to match their interests is a recipe for success. Newspapers across Indiana are tapping into new profit opportunities with general interest women's events as well as mom's night out type events.
Connecting with locally owned and operated businesses was another common theme. Working with the businesses along Main Street is not new, but the approach many newspapers are taking is. There were several different approaches, but the common theme was to work with mom and pop stores who are fighting to stay competitive with the big box stores. Tying in local promotions to the Shop Small program launched by American Express the Saturday after Thanksgiving is one approach. Other newspapers have programs throughout the year to encourage people to live local and shop local. One newspaper in southern Indiana partners with the local chamber to create a shopping program with local merchants that tracks the dollars generated through the newspaper promotion. It continues to grow every year.
Digital transformation continues to happen in the newspaper business. What excited me about the digital ideas shared was that they weren't traditional digital display ads. Newspapers are already looking past the basic opportunities and trying to innovate, perhaps getting ahead of the curve for a change.
Many of the innovative ideas had or could have traditional elements attached to them like special sections. We should not turn our backs completely to what has worked in the past, but try to build and improve on those opportunities. There are still a lot of newspapers that are stuck in the past. But I remain encouraged by the innovation that continues to occur.
You can be a part of the next round of innovation talk. The Hoosier State Press Association hosts regularly scheduled conference calls where these types of ideas are shared. Idea sharing will be a part of the annual conference in September too. If you cannot make the annual conference, then plan on being on the next call, which is set for October 19 at 10 am EDT. Be watching for call in information in The Publisher as well as in your email.
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