The most recent ABC figures have painted a picture of decline for newspapers, including a 6.7% drop in circulation figures for dailies and 4.9% for weekend papers. Although this may demonstrate that online classifieds are the way of the future, there is still a huge market for print publications - and a lucrative one at that.
Discerning classifieds companies are not only not eliminating using their print publications, but are leveraging them to fund future online development. Despite the economic challenges and the fact that the majority of ads are now being placed online, there are still hundreds of thousands of classifieds being sold in print. Even at R20 a copy, it is still much cheaper than the internet for millions of South Africans.
Once again, this highlights that high internet data costs are one of the many contributing factors in the print classifieds titles having not "died out". Companies that refuse to invest in print or that are merely discontinuing their print publications should consider the needs and buying patterns of the South African market.
Yes, there are a number of global competitors entering the market, but someone planning their company out of Seattle or London would never dream of publishing print classifieds, because that's not how their world works.
What they are missing is that, while print is no longer in its heyday, it hasn't declined at anything like the rate predicted. Print publications are still a good, profitable business that delivers great value to buyers and sellers alike - the trick is to keep the online and the offline business separate while remaining transparent at all times. Optimise all the opportunities that remain in print without diluting the focus of the online team. Moreover, and most important, keep abreast of the latest trends - especially the move towards mobility.
Mobile is a completely different environment from the desktop and people use it in a very particular way. Gone are the days when mobile devices were primarily used for calls. It has become a more comprehensive, inclusive platform, assuming the role personal computers did years ago. In the classified space, for example, mobile ad placements have gone from zero three years ago to 17% today, and we expect that to take off significantly in the next few years.
Classified advertising is a competitive business. What has kept us going for 20 years is understanding that it's also local. Whatever medium your customers find most convenient is what you should give them.
Consider the cost efficiency of print titles, the ease of internet accessibility along with the growth or complete adoption of mobility. Whatever medium you choose, make sure it's the one preferred by your customer. Look after what works, even if it's not trendy.
Source: Business Day via I-Net Bridge
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