The distinguished Pew Internet Research Center explains it best when they say “declines in daily newspaper circulation are unprecedented and precipitous” and “In the past year newspapers, including online, saw revenues from ads fall 26%. Over the past three years the total loss has been 43%”. (Source: Pew Internet Research Center)
- “That’s the way we’ve always done it. ” Fear of the unknown is perhaps the greatest fear we can experience. Sometimes we would rather endure the ineffective rather than reach for something greater and risk failure.
- “We do get some results”. Sometimes we can’t see the forest for the trees. If we really looked at the numbers over a long term period we would be able to see that the cost of customer acquisitions through newspaper ads are rising as the rates of subscribers continue to decline.
Follow the leaders – they are seldom wrong
If we look at the direction of large retailers and corporate giants, it’s easy to see that they have slashed traditional media budgets and have invested heavily in new media outlets. Why? Because they have millions riding on their decisions. They have dozens upon dozens on Ivy League MBAs who have deduced the obvious – print advertising doesn’t pay.
Small and medium sized business, more than anyone, know the value of a dollar and how precious and hard won your money is.
You have to make decisions based on what is going to give you the most bang for the buck and, the fact is, online marketing is what can change the direction of your website and your business.