The shrinking audiences and revenue that buffet local news mirror the wrenching changes being felt in other businesses. The underlying reason is important to note for it has fundamentally changed the way consumers interact with your product.
You are no longer in control. Your customers, your viewers, are.
Before the internet, many businesses operated in and benefited from an era of economic scarcity. This arrangement meant that consumers had limited options for satisfying their needs. They were often restricted to local merchants and product inventories that carried only the most popular choices.
Someone with distinct or unusual demands had a difficult time finding products, if they could be found at all. Business innovation and risk taking was stunted because the prevailing conditions generated satisfactory profits.
Business – especially television – used to control the playing field. Not anymore.
People have now gained control over their viewing behavior. Look at how your business has changed. It’s morphed from viewers having a choice of three to four channels to hundreds. The act of watching video has moved from one device (TV) to many (desktop, notebook, smartphone, iPod, slingbox, etc.)
People now have a choice of when to watch, thanks to TiVo, VOD, Hulu, TV.com, etc. Your website grants them access to news 24/7.
Heavens…news now gets distributed without you as the middleman. The role that Twitter played in the Iranian election protests is a harbinger of things to come. The issue isn’t how big a role that Twitter actually played as it was its unquestioned ability to spread information. That has significant implications for you regarding live, breaking coverage.
The age of economic scarcity has ended. Viewers now have the upper hand in determining how they feed their information appetite.
Access to news has exploded beyond its availability on your channel at 5p, 6p, 10p, or 11p. Mobile alerts, email notification, and web updates keep viewers continuously informed. Your station represents only one ship in a sea of options.
How is your news effort adapting to this new situation? Does your station…
- have multiple options to alert viewers to breaking news?
- provide more than warmed over video on its website?
- recognize that a viewer’s relationship with news has become more participatory?
- understand that viewers expect more and are less forgiving when you fall short?
- recognize that your on-air newscast is just one platform in a world where multiple options have become the norm?
- understand how powerful the concepts of immediacy and convenience have become to news consumers?
Your world has changed. And it’s not going back to the way it was.
Adapt your news strategy and tactics to this change. Ignore it at your own peril.
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