COVID-19 IMPACT:

Publishing

Industry Update: 24.10.2020

Vertical: Publishing
Type: B2B
Covid Impact on Demand: Positive
Covid Impact on Ability to Supply: Negative
Viable Transition/Readjustment: Yes

We’re just ordinary people.

The business world now recognises that pandemic conditions are here to stay.

SoPro have direct access to several hundred B2B marketing operations, spanning 60+ verticals. In recent weeks we have seen major movement in global sentiment, shifting from defensive tactics to proactive strategy as realisation sets in.

We are now witnessing the largest and most complex change management project in the history of humankind.

The worlds businesses are rapidly readjusting to compete in a new world. Here’s how.

Publishing, what are we seeing?

Home working, home schooling, retail closures and industry event suspensions have combined to create a significant impact on the current and future order book of our publishing customers. We are seeing high demand for publishers in most sectors and across all digital formats. Conversely, we are seeing printed news, magazines and other physical content being withdrawn from circulation as in-store sales for popular media publications are plagued by continued high street and retail closures. Even those retail and news outlets that are open are seeing heavy reductions in printed media sales as casual foot traffic remains at near-zero levels. Recent weeks saw the Iconic Mother & Baby magazine retired from circulation by Bauer media… a canary if ever there was one. Various other publications including Haymarket titles have also recently been transitioned to digital-only or retired altogether.

What do these businesses need to do now?

1. Adjust your business targeting

We are seeing our publishing clients expand their reach within their specialist sectors to counter-balance any fall in client demand, attract new interest and capitalise on any competitive advantages that they may have during this unusual period. Increased digital traffic volumes offers greater monitisation options and increased overall inventory.

2. Review your marketing channels
MARKETING CHANNELS VIABILITY
B2B Direct Mail

NOT VIABLE

Paid Search

PARTIAL VIABILITY

Tradeshows and Exhibitions

NOT VIABLE

Awards Circuit

NOT VIABLE

Word of mouth

PARTIAL VIABILITY

Social Media

PARTIAL VIABILITY

Digital Outreach i.e. B2B prospecting

VIABLE

3. Revise your proposition

Let’s be real, you’re in the publishing game and re-invention probably isn’t an option. Identify areas of your specialism that are currently under-supplied or under-valued, focus on publications and content formats that lend better to digital distribution models and capitalise on the increased interactivity and engagement levels available under digital model.

Think about how COVID-19 has presented new challenges to the publishing sector overall. Accentuate the competitive advantages that you can offer, including immediate inventory availability, the value of high-quality digital traffic and the more engaging nature of digital (interactive) ad-formats. Tailor your offering to attract immediate enquiries.

Consider promoting the high engagement levels achieved by digital content and, in particular, the merits of producing high-quality interactive content for brands that are currently unable to reach consumers in person.

4. Revise your messaging

Revise messaging to set out how your proposition directly contributes to overcoming the current sector-specific challenges that your clients have faced. Many B2C brands will be struggling to place media budgets with so many conventional channels remaining offline or in low volume states. Offer the route to help them clawback gainst year to date sales deficits. Consider that many businesses and brands operate a use it or lose it approach to quarterly marketing budgets and that many budgets are currently going unspent. If you have relevant case studies, that prospects can read or watch, then make sure they are readily available. Flexible payment terms would be beneficial especially when it comes to direct ad-spend contracts.

5. Drop the experts a line

At SoPro, business growth is what we do, and we've got the tech and team to quickly generate a healthy pipeline for your business. Our expert team are ready to discuss your campaign today.

Watch Our Video Case Studies

“One of the great things about working with SoPro is the dedicated team of professionals we have at the other end of the phone... For us, there really is no question. Having a prospecting service is vastly more beneficial than just having the tool. Put simply, it’s transformed our business.”

Nick Washington-Jones, Managing Director, Tack UK

Our Totally Bonkers 60 Second Explainer Video

What better way to convey the surreal magic of the SoPro service than through an animated 60-second explainer video, starring a flying submarine. We commissioned the experts over at Sentio Space to encapsulate SoPro’s fantastical prospecting machine in under a minute. And we don’t mind admitting they totally nailed it.