"2009 PREDICTION(S): Five out of every 10 magazines and newspapers will go out of business, scale down their frequency or move entirely to the Web. This will not just be survival of the fittest, rather survival of the most willing and able to adapt to the changing media paradigm, and throw all of the old rules out the window." - Andy Cohn, VP and group publisher, Fader Media

Folio's website, "117 Magazine and Media Predictions for 2009," by Dylan Stableford, 12/18/2008

One of the bittersweet aspects of the web is that by eliminating distribution obstacles, it's easy to reach readers across the globe, but it's just as easy for readers to switch to another site. And advertisers have many alternative channels to spread their limited ad dollars across. In this position, the need for differentiation and the ability to maintain and grow an established reader base are critical.

Successful sites:

• Focus on readers' goals in the way you present content

• Address advertisers' expectations

• Optimize operations around innovation and cost control

So maybe you're wondering why the changes you've made so far haven't been enough. Let's look at conditions in each of these areas.

Readers

With print readership declining and the web offering easy access to alternative information, the pressure to accelerate the migration to online delivery of your properties is relentless. Rather than simply changing the delivery medium by moving the content, the most successful publishers view the internet as an opportunity to rethink strategy and re-invent themselves using the newest technologies, including those that provide access to archives and all historical assets.

While most media websites include some video and allow users to comment on stories, in reality they are still pretty similar to print editions. Media websites typically have:

• Relatively static design of site and each piece of content, which restricts interactivity and extended reader engagement with content

• Low relevancy of results when users search for information, which causes frustration and erodes loyalty. While initiating a search is easy, getting the right answer is typically indirect and requires trial-and-error journeys across many pages

• Few services for building online communities, which limits your ability to nurture loyalty, attract new readers, and encourage reader participation

• Limited access to historical content

The result is a reader experience that is mostly passive and limited in:

• Interactivity and user exploration

• Personalization

• User contributions

• Ability to explore topics

However, these limits actually create opportunities for differentiation if you can develop a truly web-based design and find the technology to support it.

Advertisers

While you're wrestling with the challenges of building your web properties and maintaining your editorial standards, the reliance on click-through rates for ads can mean inadequate advertising revenue unless readership and ad exposure are expanded.

Your advertisers need to justify their campaign expenses, so their commitment to your site is conditioned by:

• Expectations that your site will generate significant page views so readers are exposed to more ads

• Detailed accountability and reporting so advertisers know their ads are seen and acted on

• Proof that you can offer them something more compelling than the many alternatives they have

• Your ability to deliver their advertising to specifically targeted audiences

Users, of course, don't want to be annoyed by ads that don't interest them. And advertisers don't want to pay for ads for people who aren't likely to buy from them. The good news is that the methods that improve the user experience — personalization, community, and interactivity — not only keep readers on your site, they can also increase the relevancy of your ads.

Operations

The third aspect of this transition is the impact of technology on operations. Slow website performance, cost and complexity drag against goals for improving reader and advertiser traction. Perhaps the biggest obstacle to success is how long it can take for changes and new site features to be developed and deployed. Carefully selected enhancements to the technology you use to deliver your site also helps you improve operational effectiveness by:

• Controlling costs and complexity

• Providing delivery and accountability mechanisms that advertisers demand

• Improving information access to enable content producers to:

  • Conduct research and analysis

  • Create interactive and visual content

  • Improve insight into user preferences and interests

  • Manage communities

Opportunity

If you haven't yet embraced new dynamic, information-rich, interactive capabilities on your website, you are under-serving the needs of both your site visitors and your advertisers - and missing your goals as the site producer. Strategies for increasing your attractiveness to content consumers also improve your value and attractiveness to advertisers. The same dual benefit is true for technologies - they should both take your website to the next level for readers and provide more response to ads and accountability for the ads' effectiveness. And they can improve operations.

You can read a more thorough investigation of online media in our new whitepaper, Improving the User Experience for Online Media Sites.

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