Are You Afraid Embracing Digital May Cannibalize Print?
Will digital cannibalize print?... This is a very common concern I encounter from publishers, it's simultaneously a legitimate question and often the equivalent of burying your head in the sand.
To be clear, there are many things you could do online that would absolutely have a negative impact on print and you need to understand what these are and why the consequences are what they are. That said, Locable is entirely interested in the digital activities that extend your brand (not to be confused with putting your magazine online) and drive complementary digital revenue.
In fact, we see that publishers that embrace digital the right way see their readership and print advertising revenue INCREASE!!!
Taking this further, a recent report by BIA Kelsey noted that 40% of local businesses are planning to increase digital ad spend in the coming year while only 3.7% plan to decrease digital spend.
All of that being said, what if digital could only cannibalize print? Then what? The appearance of "Disruptive Technology" is a regularly occurring phenomena. The innovator's Dilemma is a great read dedicated to exploring possible approaches:
At the heart of The Innovator's Dilemma is how a successful company with established products keeps from being pushed aside by newer, cheaper products that will, over time, get better and become a serious threat. - Amazone.com Review
Quite simply, if the world is changing and your core business is threatened would you rather take your leadership position and parlay that into a leadership position in the new paradigm or ride things out as long as possible, let new players come in and take your market from you, then go down with the ship?
Fortunately, things aren't quite that dire and the mounting threats are countered by the increasing opportunities for publishers that embrace digital - as a complement to their current business to extend the things they already do so well not as some separate entity with little tying print and web together.
So, if you're a publisher that wants to learn more about the Locable Approach to see if our Network is right for you apply now to schedule a webinar. Then you'll know!
