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(www.peachtreemediaadvisors.com) has written a report for the newspaper industry to radically restructure their core business model, capitalize on social media trends, leverage their journalistic integrity, target stimulus money, recapitalize their balance sheets, and acquire interactive marketing services and consumer-facing social media companies. As one of the most trusted sources for information, the newspaper industry is well-positioned to leverage its advertising and editorial infrastructures to generate new digital marketing revenue streams from local merchants as well as professional bloggers.
In order to change course in a continuously evolving digital media landscape, newspapers must restructure their business models. According to John Doyle, Managing Director & Founder of Peachtree Media Advisors, Inc., “Newspapers must completely eliminate paper versions of their product and leverage their one-to-one relationships with subscribers and local advertisers.” Newspapers are a local and regionally based medium. Since few digital media publishers have the capability to target advertising by geography or on a local basis, local and regional merchants typically choose other media channels to reach their target audiences, such as newspapers, radio, cable and out-of-home. Doyle feels that newspapers well-positioned to sell digital marketing services to these local businesses.
If newspapers and their advertising sales forces were to convert to a completely digital media format, then they would be able to provide highly targeted online marketing services at the local level for small businesses targeting readers in close proximity to them. A digital platform would permit newspaper sales forces to offer significantly more digital advertising and marketing services to regional brands, such as through SEO/SEM, lead gen, performance-based marketing, and cost-per-action among many other services. The accuracy of their marketing services would stem from subscriber information, reader preferences and tools and applications downloaded by subscribers.