I read in the Ad Age newsletter today (it's actually pretty good) that the Wall Street Journal has opted to put a big old ad right on their front page, highlighting the Internet's competitive pressure on traditional media. I thought the reason the Journal charged people to access their website was so their business model wouldn't be undermined by the Internet? Guess that didn't work too well.
So, what better way than an ad on the front page, to indicate to your readers that you care more about making money than about giving them the best content in your category? I mean, come on, that's like putting an ad on the cover of the New Yorker. Tacky!
How about this: make it a habit to seek out the best conservative political and financial commentators writing today -- a lot of them will probably be bloggers not affiliated with other newspapers. They probably have other jobs (which is good, they're not another mouth to feed). Invite these people to write under the WSJ umbrella and start sending them traffic from wsj.com.
What does that mean? A WSJ affiliate banner on their personal website, announcement that the opinions expressed are their own and not the WSJ's, and *hey presto* the journal has a ton more real estate for their online ads (of course they give their bloggers a cut of this revenue). Stick a feedback box up there where blog readers can let the Journal know if a blogger is not writing appropriate material, have an editor look over the alerts, kick an affiliate out once in a while to maintain editorial control, and you're done.
I'm tired of hearing what a threat the Internet is to businesses. The Internet is an opportunity, for the billionth time. If you can't figure out how to take advantage of it, start hiring people who understand it.
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