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Jonathan Lemonnier of AdAge.com reported last week that, "Spending on alternative media hit $73.43 billion in 2007, a 22% increase over the previous year, and will continue to grow, according to PQ Media's Alternative Media Forecast: 2008-2012, released today. The research firm tracked 18 digital and nontraditional segments, with a combined 16.1% of total advertising and marketing dollars in 2007, up from 7.9% in 2002, yielding a compound annual growth rate of 21.7%.
The forecast predicts a 20.2% increase over the next year, to a total of $88.24 billion, and a compounded annual growth rate of 17% for 2007-2012, reaching $160.82 billion. By then, alternative media will represent 26.6% of all advertising and marketing dollars." ( Complete article online: http://adage.com/digital/article?article_id=125950 ) The aforementioned report screams louder than ever before that advertisers are looking for an alternative means to spend money. Do you give them chance to spend with you? Is your web site designed in such a way to accept IAB sized ads? Do you know what the IAB is or who they are? Does your rate card reflect your online rates? Do you have ad packages that make a print and web combo buy the best possible option for the advertiser? These are just a few questions to ask yourself as you make a stab in the dark at hitting that preverbal online revenue target. Here is a short list of items for consideration when thinking about online revenue. 1. Do you have a strategy in place to make IAB sized ads available on your site?
2. Who is going to create the ads?
3. Do you have the software to serve the ads and offer reports to advertisers?
4. Do you have a plan in place to engage your readers in the fiber world and push them toy our cyber world?
5. Do we collect data on our users in a powerful way?
6. Do we have the right sales people in place to sell online? Can print reps be trained to sell online? This is a small list of about 50 questions to ask your self when thinking about tackling revenue online. While I continue to preach the importance of getting online in a much bigger way, I feel like the tree in the woods analogy. If a magazine publisher is told to get online in a progressive way and they refuse to accept the challenge does it really matter? YES! We are almost at a point of no return. Those magazine publishers that do not yet have a robust web site will soon be left behind as mobile technology takes over. Do you have a WAP plan in place? Do you know what WAP means? It is fact that most magazine publishers need help when it comes to online strategy. You can attend conferences and classes and get a leg up, but if you want to truly take full advantage of the web you will need to commit time and money to the effort. You will need to either hire a web champion or find a consultant to be your web champion. Do not get left behind. The window of ignorance is not getting smaller it is getting bigger. The beauty of the situation is this… you can open and close that window. The views of Ryan Dohrn are 100% personal in nature and do not represent the views of his employer, any other person, company or entity in any way. Any similarly is coincidental in nature. http://www.RyanDohrn.com |
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Award-winning internet consultant, nationally acclaimed speaker, Emmy winner, author, TV producer and internet pioneer, Ryan Dohrn has been featured in USA Today, ABC, CBS, on Forbes.com and has made over 700 TV appearances and trained over 3,000 people around the globe. 
Ryan is more than an internet consultant, he is a teacher and a mentor to hundreds of business owners around the world.
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