How Can Newspapers (both offline and online) Compete With New Medias, while Making Money




Got this question on quora and this is my response


The answer lies in providing tremendous value.

How?

Newspaper, need to understand that they should start leveraging their writers as a way to boost loyalty.

This is what the most popular blog out there have done.

When you look for avenues to let your writers shine out, people will become attached to these writers. In this way they will also become loyal to the brands.

In order to achieve this, newspapers house-those who are strictly offline would have to embrace the online space.

Newspaper house should also understand that there is need to allow for readers to subscribe to a specific writer feed.

When this is done, the number of subscribers on these sites will increase, because the subscribers feel an affinity to the writers.

At this stage, the newspaper site can work with the writer to see how to monetize that list.

A couple of monetization stream that can be adopted include:

- Offering specialized training based on the specific skills of the writer -
In this training series a deal can be struck by the newspaper house with its writers-a deal that should be able to satisfy both sides

-Specific ads could be included in the mailing list, but the ads should be tailored to wants or desire of the subscriber. Ads that provide exceptional value should only be included.

-Newspaper house together with the writers can also solicit for monetary contribution through the streamlined list.

Now we need to understand that for this to succeed-the writer who has the list should be the one to promote these different monetization channel.

So in essence, the writers should have their own blog within the newspaper website.

-Subscription services is another potential monetization strategy that some blog have adopted. Sites can offer ads free site deals as part of a package.

Note: A/B testing has to be done to determine which strategy is most effective.
-Content Upgrade: A writer can provide tremendous value that the readers may find difficulty implementing, in this situation the writer can offer a easy checklist to solve this problem. The checklist can then be monetized for a few cents or huge dollars-based on the its value.

Writers can also tie articles with amazon links.


This can be done through a checklist.
For example if a writer has written an article: How To Produce Cheese Ball.

The content upgrade can contain the list of equipments to use in getting this done.

These are just some few ideas- the major thing is that newspaper house must become creative in seeking out monetization opportunities.

Others include:
Webinars
Books

Now its your turn, what other monetization strategy do you think newspaper sites can adopt

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