Image from: Kantar Media
This week, Compete’s parent company, Kantar Media, published a great set of insights specific to magazine publishing and tablets (with a naturally heavy leaning on the iPad) – so we thought we’d share.
You can download the whole piece here, but I thought I’d pull out what I found most interesting: most of the advertising in the app are the same ads as the print magazine. This highlights, for me, a major weakness in the approach the magazines are taking to building these apps. Namely, that they are seeking to utilize the print version of their magazine as the basis for their app. It’s understandable why they do this – it is the fastest way to publish to tablets. But it also creates an undifferentiated experience for the consumer.
As more and more people use tablets, magazine publishers should rethink this equation and figure out that they can create a much more interactive experience for tablet readers. That should include, specifically, a new way to look at advertising. So rather than bundling tablet ads as part of a traditional print media advertising buy, they should look at new ways to create interactive ad experiences that will attract the attention of consumers. This is also a potentially great revenue opportunity for them as they should be able to charge higher rates when this type of advertising creates richer interactions with consumers.
What do you think? Are magazines missing the boat with their current approach to apps and advertising? Let us know in the comments!
Damian Roskill is the Managing Director of Marketing at Compete. Before Compete Damian was head of products for a video start-up and has worked in start-ups for most of his career. Damian's career aspiration is to be at one with the advertising universe. Damian can be found on Twitter as Droskill, or connect with him on LinkedIn at http://www.linkedin.com/in/droskill