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Jim

Jim. Jim جيم 吉姆 ג ' ים िजम ジム 짐 Джим. Print’s role in the multi-media context. Lessons from the past and future Worldwide circulation continues to grow. Source: World Press Trends. Lessons from the past and future Print circulations reflect the maturity of the market.

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Jim

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  1. Jim Jimجيم吉姆ג 'ים िजम ジム짐 Джим Print’s role in the multi-media context

  2. Lessons from the past and futureWorldwide circulation continues to grow Source: World Press Trends

  3. Lessons from the past and futurePrint circulations reflect the maturity of the market Source: World Press Trends

  4. The product life cycleThe old reader myth (UK) • Over last 50 years young readership has fallen by over 60%. • Readership among the over 65’s has fallen by 19%. • People read most when they are youngest and read less as they get older. • The rate of cohort decline is accelerating • From 6% through the seventies’s, to 28% in the naughties.

  5. The death of the life cycleIs this man past his peak? A Facebook user was valued at $190.

  6. The death of the life cycleThe Dutch perspective

  7. Reality checkAre newspapers damaged brands? Coke: • 14% of turnover on “advertising” • 12% of turnover on “sales” Unilever • 12% of turnover on “advertising” • 12% of turnover on distribution Newspapers (USA) • 1% of turnover on advertising • 10% on marketing (Subscription management) and distribution Newspapers (Europe) • 1.3% of turnover on newspaper marketing • 20% on distribution • Subscription papers 22% • Single copy papers 5% Sources: Chisholm, Inland Press Association (USA), WAN benchmarking study (Europe) Company reports

  8. Global media consumption trendsMedia consumption is declining Source: CHISHOLM analysis. World Press Trends

  9. Global media consumption trendsRadio is hardest hit Source: CHISHOLM analysis. World Press Trends

  10. Global media consumption trendsMore people read newspapers than use the internet Global population 7 Billion 2G Weekly Readers Ever view Average issues readers 3G Sources: CHISHOLM, World Press Trends, ITU, Deloitte.

  11. Lessons from the past and futureNewspapers’ share of advertising has declined from 28% to 21% since 2006. Source: Zenith Optimedia

  12. Worldwide advertising trendsNewspaper advertising is decoupling from GDP

  13. Worldwide advertising trendsCurrently newspaper advertising is decoupling at a rate of minus 10% versus GDP The USA accounts for a third of the world’s advertising expenditure.

  14. Newspaper advertising effectiveness (Australia)The role of advertising

  15. Newspaper advertising effectiveness (Australia)The result of advertising

  16. The cost of pricing (Global)A 10% increase in prices causes a 5% decline sale

  17. The cost of pricing (Global)A 10% decline in sale causes a 6% decline in ad share

  18. The cost of pricing (USA)Accountants can count, but they can’t math! -2.5%

  19. Digital realitiesNewspapers are failing to exploit the internet boom • Newspapers’ share of digital advertising has been declining since 2006, having seen significant growth up until that point. Source: Zenith Optimedia, Newspaper Association of America

  20. Newspapers maximise impactIncremental benefit of newspapers over TV

  21. Digital realities (Global)Print is going to fund our industry in the near future • Digital accounts for 10% of revenue in the USA. • It accounts for 29% of revenues at Schibsted Sweden. { Mobile is 1% of digital Source. PriceWaterhouseCoopers

  22. The digital transitionIncreasing influence of mobile Mobile/wireless Service range Fixed internet time • Forecasts suggest that by 2017 mobile will deliver between around 24% of all digital advertising. • The forecasts are wrong. Today Source: CHISHOLM analysis of Forrester.

  23. The digital transitionMobile is the second evolution

  24. The digital transitioneReaders are the accelerator • Amazon reports that one in three books available digitally are bought digitally. • Le Monde reports that reading times of eReader applications are as high as those of printed newspapers • American publishers have found that subscription conversion and retention levels for eReaders are higher than for print products. • A German study found that older people read faster on the iPad than in print. • 1% of newspaper digital revenues are from mobile. Source: eMarketer.com (Data for USA), Various internet cuttings.

  25. The marketing reality (Western markets)Advertising accounts for only a third of marketing expenditure Mass Direct Interactive Transactive market Marketing Marketing Marketing

  26. The publisher’s horizonNewspaper digital engagement is dependent on digital reach, and newspaper reach of digital

  27. The publisher’s horizon (Western markets)Our challenge is audience intensity • Over a month, print continues to deliver over 50 times the audience impact of newspaper digital websites. Source: Chisholm analysis of ComScore data. (Data for USA, UK and Germany)

  28. The publisher’s horizon (Global)Our challenge is audience intensity

  29. Small steps. Big rewards.Meet the multiplier.

  30. Small steps. Big rewards.Meet the multiplier. • Small increments in each step of the multiplier has a major effect on the outcome: • Print purchase and reading frequency • Number of visitors relative to circulation • Number of visitors per visit • Number of pages per visit • Levels of advertising engagement

  31. Facebook now has more traffic than Google; More people globally now access the internet by mobile than PC; Women are becoming the dominant users of the Internet; People spend half the time reading news online than they do in print, but visit 3.3 times as many brands; Newspapers aren’t dying. We’ve just been slow to wake up: 1920’s – Music industry 1950’s – Cinema 2000’s – Railroads Small steps. Big rewardsSome factoids

  32. Small steps. Big rewardsOur primary tactical challenge is engagement • We are not losing readers we are losing reading frequency and intensity • Decline print through lack of branding and customer attraction • Poor understanding of newspaper econometrics is accelerating revenue declines • Low digital engagement: • Little linkage between print and digital • Need for improved serendipity and navigation • Evidence that key triggers along the multiplier steps drives results • A 1% improvement in each step increases page impressions by 75% • A 2% improvements increases page impressions by 179%

  33. Small steps. Big rewardsTactical engagement steps

  34. Small steps. Big rewardsOur primary strategic issue is product development • New newspaper products are still emerging: • Österreich • i • European Daily • Need to identify alternative advertising products (through launch or acquisition) • Growth is a department and a philosophy • Patterns of marketing expenditure point to alternative product development streams • Hyper local • Global to local

  35. Small steps. Big rewardsLessons from the past • Stop firing creative people. More brains. Fewer accountants. • The answers are in the analysis. • Multiplier steps • Customer analytics • Advertising response and effectiveness • Create a plan for every multiplier step • What is the goal? • How will it work? • Why will it work? • Measurement, measurement, measurement • Current behaviour • Reasons for behaviour • Triggers for performance

  36. Tactics and implementation jim@jimchisholm.net +44 77 75 81 77 97

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