It’s no surprise to most of us that ad revenue is declining among the majority of media outlets. In the latest Pew Research study, The State of the News Media 2010 it showed that all media outlets besides cable television had declining ad revenue from 2008 to 2009.
So where are consumers going? Online, and more specifically social media. Social media grew significantly in 2009 and will continue that trend in 2010. According to the Pew study, “In 2009, Twitter and other social media emerged as powerful tools for disseminating information and mobilizing citizens for purposes such as evading the censors in Iran and communicating from the earthquake disaster zone in Haiti. The majority of Internet users (59%) now use some kind of social media, including Twitter, blogging and networking sites, according to a new PEJ/Pew Internet & American Life survey.”
This isn’t just a trend among younger consumers, but they are certainly leading the charge and as the consumers of tomorrow we better pay attention to how they are consuming news. According to the Appleton Post-Crescent, generation X has grown up with technology and expects the news when they want it, how they want it and where they want it.
So what does this mean for PR professionals and businesses? Now more than ever we all need to think like publishers. You do this through blogs and social media channels. Here’s the kicker though, you can’t talk about your products and services! Businesses are going to need to think like their customers and publish content that’s relevant and trustworthy.