In a word, yes. With roughly 240 million Americans logged into the web, where information is free flowing and easily accessible, it is not surprising to learn that more and more consumers are surfing the Huffington Press than reading the print version of the New York Times. Why buy it when you can get it for free? Newspapers such as the Boston Globe and the New York Times are struggling to remain financially solvent, while scrambling to meet online consumer demands. In 2008 alone, Us Newspaper advertising revenues decreased by 16.4%. Since 2006, the Newspaper industry has been nearly cut in half.
It is not a secret that many major newspapers have lost their footing and faded away. What’s worse, is their deteriorating ability to influence the purchase making decisions of consumers. In 2010, less than 22% of 18 to 49 year old US consumers utilize Newspapers as source of news and information. These number have been nearly halved since 2005. In the all important 18-49 year old demographic the internet has risen dynamically to eclipse all other media as the major source for News and Information.
Let’s look at it from a more simplistic perspective: It’s expensive to run a Newspaper ad and the ads are small and contain very little information. This is the complete opposite of advertising online, where it’s reasonably affordable to reach a ‘highly targeted’ audience who is searching for the very product you have to offer. Not only are the visitors more targeted and receptive to your products, you can then present them with a multimedia presentation that may contain items such as detailed descriptions of products and services, customer reviews and testimonials, multiple images and videos, special offers and incentives…and so much more! The only limitation is your imagination. Newspapers: RIP
