Saturday, May 8, 2004

Established Publishing Brands Hold Cross-Media Advertising Advantage

Just like the bricks&mortar retail stores that came late to the online retail game, but were able to claim an advantage by allowing customers to use their physical outlets to pick-up goods ordered online and return goods bought online, publishing companies are now realizing some of the same 'paper and printing press' benefits on which 'bricks&mortar' stores have already capitalized. In print, newspapers can provide ads with printed links to Websites that offer more information; and online, the newspaper Website can reinforce the print ad (and reach online only readers, too), and provide a direct link to more detailed information on the advertiser's site. This week Knight-Ridder, Gannett, and Tribune newspaper publishing companies bought CrossMedia Services, an advertising services company that creates online complements to print circulars and catalogs and helps advertisers manage cross-media campaigns. This isn't the first joint purchase of an online utility for this threesome. They are also partners in cars.com, apartments.com, and careerbuilder.com. With online advertising growing faster than print advertising, and local advertising a hot phenomenon online, it behooves newspaper companies to promote their cross-media advantages to their most important advertising clients. It looks as though this group of newspaper companies has gotten the message. It will be interesting to monitor the impact of the cross-media outlets on the pure online competitors in online recruiting, real estate, cars, and local advertising.
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