By Klaus Böhm & Sarah Rothenberger
The challenges are becoming ever greater. Volatile increases in cost parameters coupled with declining revenues from sales and marketing mean that print publishers of all types are currently facing an unprecedented existential challenge. In addition, digitization is fundamentally changing the way information is consumed.
In order to remain profitable and therefore successful in the future, media companies must adapt their strategies and break new ground. In particular, the rapidly changing use of media and the increasing interchangeability of media now make new business areas indispensable. Content providers are competing harder than ever for attention. Especially in digital, the first few seconds of a content's reception determine whether the content is deemed relevant and consumed.
A sensible response for publishers to these different developments is to implement a moving image strategy in their portfolio. Moving image content has become indispensable in today's world and is very popular with consumers. Video formats combine information and entertainment in a new form and thus adapt to the requirements of media use: new target groups are developed, users become customers, and customers are retained for longer.
Knowing users, developing new target groups
First and foremost, media providers need to better understand their consumers as customers. Individual expectations must be managed optimally and a close relationship with the user must be established. Opening up new channels also opens up new ways of communicating with users, accelerating exchanges and providing more direct feedback. Especially when editorial staff members build their own brand and take on the role of a host.
By integrating videos as a fixed component of digital content, new target groups can also be tapped and reach increased. In addition, moving image content offers a higher dwell time on the website and provides a new incentive for the use of a particular media brand. The development of video formats as a source of revenue from the reader market can be generated on the one hand via serial formats with a longer commitment and on the other hand via single purchase options for special streams.
Moving image as subscription driver
Initial findings from the DRIVE data initiative launched by SCHICKLER and dpa already show that moving images can become a successful model. A regional daily newspaper participating in DRIVE has succeeded in increasing its digital subscriptions by around 40% through specific moving image offers and retaining these subscribers for longer.
Individual and unique video formats must be developed and consistently implemented, such as amateur soccer streaming in a region. Live stream formats with a narrow target group are particularly exciting and increase the willingness to take out a paid subscription. The exclusivity and quality of the content is the key driver here.
Video first - advertising relevance through customer insights and targeted interest environments
But it's not just users who benefit from publishers' video strategies. There are also advantages for advertisers. Expanding the existing marketing portfolio to include a media genre opens up the opportunity for new, innovative advertising formats. Moving images offer diverse, new integration opportunities in the context of partnerships/sponsorships and open up the prospect as a new source of revenue.
The goal should be to maximize advertising impact by targeting audiences in their areas of interest and optimizing individual campaign performance accordingly. The right placement of advertising for the right user at the right time is not a new phenomenon, but is becoming increasingly important.
At the same time, this form of advertising marketing is being made more difficult by increasing data protection requirements, so the need for context-specific advertising environments for target groups is growing. Customer targeting based on content and context is becoming increasingly important. There is a need for context-based advertising marketing that manages to be equally relevant for users and advertising partners via target group-oriented content.
New competitive environments, new cooperations
One thing is clear: In the moving image sector, publishers are operating in a new field of tension with traditional TV stations, streaming services, and online platforms such as YouTube, TikTok, and Instagram. While on the one hand there is competition for the attention and willingness of customers to spend money on paid content, on the other hand there is courting for advertising partners and revenues. At the same time, new chances and opportunities are emerging, as cross-platform placement can often generate higher reach, which in turn is relevant for pricing in marketing. There are new opportunities for cooperation in content creation and marketing, but also in the production process of moving image formats.
The buzzwords content marketing and storytelling thus take on a new dimension. The role of journalists is changing due to the addition of new channels to the portfolio as well as due to the new content requirements in the user and advertising market.
Moving images - future model for publishing houses
Implementing a comprehensive moving image strategy in existing publishing structures requires careful planning and consistent implementation. It is important to produce the right content and present it in a way that is appropriate for the target group. Technical implementation must also be carefully planned to ensure smooth integration of the videos into the existing portfolio. Partnerships and cooperations must be examined in order to reach the goal effectively and efficiently.
We are happy to support you in this process. Please contact us. We will be happy to discuss our experience with moving images and show you the first possible steps for optimization.