A publishing or media company’s very existence is dependent on their ability to stay relevant. Today’s advertising community understands that they are competing for an audience to notice and be moved to take action. Changes in the way audiences consume information have led publishers to work more like digital or creative agencies, providing cross-platform access to clients to help reach a more discerning audience. As with any growth, there are growing pains.
Publishing industry pain points are actually opportunities for media companies. Here are challenges to tackle head on.
Finding the Balance
Although the U.S. consumer spends 5 hours per day on mobile devices, readers are still choosing print media that is relatable and engaging. The publisher that understands how to provide information to digital readers, and offer print media that is absorbing and educational, is the publisher that wins. That publisher requires the proper tools, for print and digital, so they can meet audiences where they are.
Being Everything to Everyone
To stay relevant and useful, media companies are not only offering print ads but also email blasts, event planning, digital content, and more. Publishers are essentially becoming agencies, in some cases acquiring agencies, to fulfill a multitude of audience-grabbing needs for their clients. Sales teams must understand these diverse channels, and have immediate access to data, to be able to serve a client that wants a multiplatform campaign.
Too Many Systems
Publishers manage their contracts, media planning, inventory and more through various disparate systems, email, and paper. These items can easily be lost, misplaced, or overlooked. Coordination is required to manage an ad or content from the sale to the publication, especially in the digital age.
Another way that media companies save money is to rely on a remote workforce. Freelancers, contractors, and other contributors must also be efficiently managed, as well as the content they provide. Emails and Excel worksheets are slowing down productivity and publishers must find a fast, secure and competent solution to remain profitable.
Measurements and Analytics
The driving influence for success is centered in the Editorial Department. Editorial expense should be based on ROI, not budgets. Every story, blog, writer, contributor and freelance needs to be measured. These analytics, and the success of the company, can only be improved if they are measured and tracked with regularity.
Introducing a New Solution
LaunchPad’s Media Management software meets the needs of publishing industry pain points because it was developed specifically for media companies. The portal began as a CRM for a media salesforce and expanded to tie in other uses required in the publishing space.
The LaunchPad solution offers the following: