Despite the growth of online news and failure of some established trade journals, there is still a proliferation of titles. So what has happened?Before the Internet, the trade press played an important role in publishing news about a company and its products. Generally speaking editorial content was published on the merits and news interest of the story and not, in an ideal world, by the advertising spend of the company in question. The aim was to produce a quality, interesting, relevant, informed and trusted magazine. Companies wanted their news published because of the credibility and apparent independence of appearing in a respected and well read journal. Because there were often many titles, company strategy was to place display advertising only in the leading books and use PR to gain mention in the rest. Most employed a PR agency to cosy up to editors and get their press releases published.
Even before the Internet the trade press landscape was changing. Publishers were experiencing cost pressures and many looked to increase revenue by effectively charging to publish press releases. Of course it was not presented like that, the requests were along the lines that the editor had selected the news item for publication but would you mind contributing towards the cost of colour separations so the text could be illustrated and be more effective? Agencies initially resisted these charges but over the years and the disappearance of the excuse to pay for 'colour seps' many trade journals simply charged to print press releases. Some appeared as 'advertorial' to identify that the content was paid for but others simply published press releases collated together in product or company news sections. Because of publication dates most of it by the time the magazine lands in the letter box is not news anyway, or at least has been available online for at least a month. The willingness to print anything also ensured that there were always plenty more stories than the magazine could publish.
So other titles started - effectively product 'books' - no editorial just a magazine full of product press releases creating a different business model, one that didn't need to hire journalists, just space salesmen. And based on this model publications come and go that just publish press releases often scavenged from other publications and web sites - a weird collation of news stories with no obvious target audience and published simply because someone agreed to pay.
Of course news publication is a very effective marketing tool, but one that calls for expertise in ensuring the most effective use is made of the PR budget.
2 comments:
I fail to see where you're going with this post. Presumably your conclusion is that press relations is now a complete waste of time. As a company with expertise in industrial B2B, you must surely be aware that there are still a good number of high quality, editorially-led magazines that you can't buy your way into and which are still working hard to maintain standards. As editor of one of those magazines, I am actually offended by the content of your post.
When the colour separations practice first started, I was one of those who campaigned for suppliers and their agencies turn their backs on the practice, as it was quite clear where it would lead. If suppliers and agents had stood together, they could have stamped it out there and then. Instead, they capitulated. Why was this? I think a lot of agencies need to look at themselves very hard, and question whose interests they were (and still are) really working in.
We used to have a healthy symbiotic relationship between industrial suppliers and the trade press. Now, with the exceptions of magazines like my own - Industrial Technology - the relationship has become parasitic. If the PR world had the inclination, it could stamp out the parasites tomorrow. Instead, it insists on sending out press releases that invite magazines to call about colour separations requests.
Industry needs a symbiotic relationship with a healthy trade press. While the enquiry mechanism has undoubtedly moved online, there is a mass of independent research highlighting that ideas are generated and business decisions made on the printed page. While the paid for advertorial magazines persist, they drag the whole of industry down around them. Those of us in the quality press do our utmost to maintain standards and to hold industry up around us. It is time that more of the PR world tried to do the same.
Mark,
Thanks for your informed comments and I apologise for the offence caused. Of course Industrial Technology is a highly respected publication and one that I can confirm doesn't ever request any form of payment for publication of editorial content.
Co-incidentally Chris Rand's blog today also puts the spotlight on the colour separation charges. I have also just put down the phone from a call from some publication that I won't name, where the sales lady has been frequently lowering the price to the point where she hopes a sale will result. This is not untypical of this marginal category of publication which leaves the impression they are driven by sales targets not editorial value. They do not receive press releases directly so I presume they hunt them down from the Internet.
I do agree that there is an important role for quality publications with the opportunity to provide well researched and informed content that is of value to users and manufacturers alike.
David Brooks
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