A good (very thought-provoking) survey of online advertising by Jennifer Saba at Editor and Publisher.
“Newspapers “never really had their eyes on online ad revenue in the first place,” says Mark Potts, author of the Recovering Journalist blog and CEO of GrowthSpur, which helps hyperlocal and community sites generate revenue. “It was supplemental to print, and rarely had its own distinct strategy. I think newspapers never took it seriously enough or got around it the right way. They got caught up pursuing traditional advertisers online.””
New strategies: reduce classified’s slice of the pie. “At Scripps, that change means taking a different approach to selling and targeting advertising. It boils down to one simple question posed to current and prospective advertisers: Who do you want to reach?” It also means moving beyond basic banner ads.
Read this, even if you don’t know your CPM from your CRM – it is worth it, as the seeds of what may make the news industry pay are containe within this: pragmatic, careful, entrepenurial, imaginative use of the medium to do what it does best: create an audience.