When newspapers start cutting the number of days they publish, what happens to the dollars advertiser would have spent there? Saving this money is a tempting option, but as Henry Ford said, “Cutting your advertising to save money is like stopping your watch to save time.”
We did a little research to see what advertisers in Detroit, Ann Arbor and Seattle might be thinking as the newspapers there either stop publishing or cut back on the days they publish. Speaking with several advertisers this past week, it is apparent that a lot depends on which days the newspaper eliminates. Thursdays, Saturdays and Sundays may prove to be important to the businesses. This is likely to make the advertisers keep their budget the same for their newspaper advertising endeavors. (At least that’s what they’re telling us.) In Ann Arbor, the big advertising days will remain intact. One real estate advertiser in Ann Arbor said he would spend the same amount of money with the umbrella company of the Ann Arbor News, be it in print or online. The main reason was that publication days coincide with when he typically advertises. Similarly, a Detroit car dealership plans to invest leftover dollars in the Detroit Free Press’s online product. “It’s still a viable advertising opportunity,” he told us.
While businesses will continue investing in whatever product the newspaper has to offer, others are not so eager. A real estate agent in Ann Arbor told us he’s moving away from print and toward online initiatives. Therefore, any money left from newspaper spending will go to different areas of online. We received a similar answer from another real estate company in Detroit that plans to put a small portion of what they would have spent with the newspaper toward online, and save the rest.
Overall, the consensus is that these advertisers are planning to invest more dollars in the Web and save whatever else they can.
