October 26, 2012 at 11:24 AM
By James Glover
Once a Day Marketing
James Glover, That Branding Guy, provides the inspiration and ideas for you to market every day in his Once a Day Marketing video blog. Tune in daily to his short, entertaining and practical marketing and branding tips and watch your organization become more successful.
Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™. Today is Digital Friday and I'm wondering if you've heard the news about Newsweek magazine. It makes for a fascinating blog today.
Newsweek is a highly recognized brand and has been in existence since 1933, competing with Time Magazine to see who could create that cover that everyone would be looking for. Newsweek just announced that, beginning in 2013, the magazine will no longer be printed, it will only be distributed through digital channels.
Newsweek cites high production and distribution costs as causing the demise of print. However, I also believe the business model is changing. Consumers seeking information expect immediate results and we are able to obtain that digitally. As in the case of Newsweek magazine, print may no longer be viable for many publications, impacting other printed material in the future as well.
We're not going to debate whether or not Newsweek survives, I certainly hope it does. Their shift away from printed magazines demonstrates that computers, tablets, smart phones and the ability to connect to information instantly is changing how we seek out that content.
The question for you is what space are you in with your product? Is it something like a Newsweek that may encounter challenges because you aren't delivering the product digitally? If so, consider whether or not you are able to revamp and enhance your product so it has a digital component.
As you look out over the competitive landscape there will be companies in your market that are experiencing difficulties because they are too traditional. This may provide you with an opportunity to introduce a digital product, capture additional market share and establish yours as a brand dominant.
That concludes Digital Friday. Join us next week for Smart Monday. To discuss an online or onsite service engagement and enhance the marketing and branding for your organization, contact James Glover: (505) 501-1330 or firstname.lastname@example.org. I’m Jim Glover, That Branding Guy, for Once a Day Marketing™ and we’ll see you next time.
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