October 12, 2010 Leave a comment
The entertainment and the information industries have never encountered times like these. The internet changed all the rules without bothering to inform anyone. Even the sex industry, which initially saw the net as its cash cow is hemorrhaging money at record rates. The two most obvious victims are the newspaper and the music industries. As a generation came of age believing that content and intellectual property was free – everything changed.
According to the Economist, since 2000, 72 American newspapers have folded and circulation has fallen by a quarter since 2007. But that pales compared to the thrashing the music industry has taken. According to some accounts 95% of all music downloads are illegal. 95%! What industry can survive that? The book industry is following suit and the film industry is playing with new models in hopes of hanging onto as many dollars as possible.
So does this spell the end of these industries? No, that’s not happening, but these are trying, difficult times as everyone from CEO’s to new artists are trying to figure out models that work. And those models are there.
In India, the number of daily newspapers has surged by an amazing 44% according to the World Association of Newspapers. The Times of India with a circulation of 4m is the world’s biggest English-language newspaper. As publishers shift from English language and focus more on regional and local language publications, there will be an even greater growth. The situation in India is a very different one compared to that in the U.S. The internet has yet to take hold there as it has here. But there is still a lesson to be learned. For example, the newspaper industry in India is slowly moving from the English-language monolithic model to a more segmented, niche approach. Therein lies one of the main secrets to success in this brave new world.
This is no longer a time to throw out as wide a net as possible; this is a time of specialization and niche marketing. Find your market, focus on your target, and define who your viewers, readers, listeners or buyers are. Now market to them specifically; use the internet which has created these challenging times as your ally. The net offers you some amazing opportunities and avenues to communicate with your consumers and clients.
Develop a marketing strategy based on traditional public relations and social media. Create free content that visitors want to read that will then lead them to content or products you can sell. Have them join with you, become part of your tribe (so to speak).
A targeted media relations campaign can help establish you via magazines, newspapers and TV, you can then utilize that press coverage by amplifying it online. Have your PR work for you. It can separate you from your competition and establish you in your field Post your media hits on Facebook, Twitter, Digg, and YouTube. Post them on your site and your blog. Create a targeted offline/online media relations approach. You’ll soon discover that the internet (the culprit that caused all these problems in the first place) can become your most effective marketing tool and your number one ally.
Copyright © Anthony Mora 2010